United Kingdom: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in the UK

After five years of growth, the UK nutmeg, mace and cardamom market decreased by X% to $X in 2022. Over the period under review, consumption recorded a relatively flat trend pattern. Nutmeg, mace and cardamom consumption peaked at $X in 2021, and then reduced notably in the following year.

Exports of Nutmeg, Mace And Cardamoms

Exports from the UK

In 2022, shipments abroad of nutmeg, mace and cardamoms decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, posted a moderate expansion. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, nutmeg, mace and cardamom exports declined dramatically to $X in 2022. In general, exports, however, recorded a tangible expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for nutmeg, mace and cardamom exports from the UK, with a X% share of total exports. Moreover, nutmeg, mace and cardamom exports to the Netherlands exceeded the volume sent to the second major destination, France (X tons), threefold. Ireland (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Ireland (X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for nutmeg, mace and cardamoms exports from the UK, comprising X% of total exports. The second position in the ranking was taken by France ($X), with a X% share of total exports. It was followed by Ireland, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Ireland (X% per year).

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then reduced dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports into the UK

In 2022, supplies from abroad of nutmeg, mace and cardamoms decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, nutmeg, mace and cardamom imports fell significantly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Guatemala (X tons), Indonesia (X tons) and India (X tons) were the main suppliers of nutmeg, mace and cardamom imports to the UK, together comprising X% of total imports. Italy, Spain, Tanzania, Vietnam and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Tanzania (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), Indonesia ($X) and India ($X) were the largest nutmeg, mace and cardamom suppliers to the UK, together accounting for X% of total imports. Spain, Tanzania, Italy, Vietnam and the Netherlands lagged somewhat behind, together accounting for a further X%.

Tanzania, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the import price showed a slight decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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