Report Update Apr 1, 2024

Philippines - Nutmeg, Mace and Cardamoms - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in the Philippines

In 2022, after two years of growth, there was significant decline in the Philippine nutmeg, mace and cardamom market, when its value decreased by X% to $X. Overall, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Exports of Nutmeg, Mace And Cardamoms

Exports from the Philippines

In 2022, shipments abroad of nutmeg, mace and cardamoms decreased by X% to X kg for the first time since 2014, thus ending a seven-year rising trend. In general, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of X kg, and then declined dramatically in the following year.

In value terms, nutmeg, mace and cardamom exports plummeted to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

Palau (X kg) was the main destination for nutmeg, mace and cardamom exports from the Philippines, with a X% share of total exports. Moreover, nutmeg, mace and cardamom exports to Palau exceeded the volume sent to the second major destination, Turkey (X kg), more than tenfold.

From 2013 to 2022, the average annual rate of growth in terms of volume to Palau stood at X%.

In value terms, Palau ($X) emerged as the key foreign market for nutmeg, mace and cardamoms exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports.

From 2013 to 2022, the average annual growth rate of value to Palau stood at X%.

Export Prices by Country

In 2022, the average nutmeg, mace and cardamom export price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price posted strong growth. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Palau ($X per ton), while the average price for exports to Turkey totaled $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Palau (X%).

Imports of Nutmeg, Mace And Cardamoms

Imports into the Philippines

In 2022, the amount of nutmeg, mace and cardamoms imported into the Philippines contracted dramatically to X tons, waning by X% on the previous year's figure. Over the period under review, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, nutmeg, mace and cardamom imports shrank notably to $X in 2022. In general, imports, however, recorded notable growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then declined notably in the following year.

Imports by Country

India (X tons), Indonesia (X tons) and Germany (X tons) were the main suppliers of nutmeg, mace and cardamom imports to the Philippines, together comprising X% of total imports.

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

In value terms, the largest nutmeg, mace and cardamom suppliers to the Philippines were India ($X), Indonesia ($X) and Germany ($X), with a combined X% share of total imports.

Among the main suppliers, Germany, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, 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, jumping by X% against the previous year. Overall, the import price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for nutmeg, mace and cardamoms in the world?

The countries with the highest volumes of consumption in 2023 were India, China and the United Arab Emirates, with a combined 51% share of global consumption.

What are the largest producers of nutmeg, mace and cardamoms in the world?

The countries with the highest volumes of production in 2022 were Guatemala, India and Indonesia, with a combined 76% share of global production.

What are the leading suppliers of nutmeg, mace and cardamoms to the Philippines?

In value terms, India, Indonesia and Germany were the largest nutmeg, mace and cardamom suppliers to the Philippines, together accounting for 99% of total imports.

What are the leading importers of nutmeg, mace and cardamoms from the Philippines?

In value terms, Palau emerged as the key foreign market for nutmeg, mace and cardamoms exports from the Philippines, comprising 100% of total exports. The second position in the ranking was taken by Turkey $68), with a 0.5% share of total exports.

What is the average export price for nutmeg, mace and cardamoms in the Philippines?

In 2022, the average nutmeg, mace and cardamom export price amounted to $26,614 per ton, approximately mirroring the previous year.

What is the average import price for nutmeg, mace and cardamoms in the Philippines?

The average nutmeg, mace and cardamom import price stood at $11,689 per ton in 2022, with an increase of 16% against the previous year.

This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 702 - Nutmeg, mace, cardamoms

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023