As of 2023, the production of nutmeg, mace, and cardamoms in India stood at a certain level, from which projections for 2024 and beyond suggest a consistent growth pattern. From 2024 to 2028, production is expected to rise steadily from 48.19 to 54.15 thousand metric tons, reflecting a regular year-on-year increase. Specifically, production growth is projected at 3.2% for 2025, 3.0% for 2026, 2.9% for 2027, and 2.7% for 2028, demonstrating a slight deceleration in growth. The compound annual growth rate (CAGR) over these five years stands at approximately 2.9%, indicating stable growth throughout the period.
Future trends of note include:
- Potential changes in consumer demand and export markets impacting production.
- Climate change effects possibly influencing yields and harvests.
- Technological advancements in agriculture enhancing production efficiency.
