Cloves Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.80 Billion |
| Market Size (2029) | USD 6.95 Billion |
| CAGR (2024 - 2029) | 3.70 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Cloves Market Analysis
The Clove Market size is estimated at USD 5.80 billion in 2024, and is expected to reach USD 6.95 billion by 2029, growing at a CAGR of 3.70% during the forecast period (2024-2029).
- Clove is valued for its food and personal care applications, showing market potential in these industries. The market's growth is driven by the health benefits cloves offer. Rich in vitamins C, K, and E, calcium, magnesium, and antioxidants, cloves help address health issues from coughs to toothaches. Clove oil is also used in cosmetics and healthcare products, expanding its market appeal.
- According to FAO data, Indonesia led global clove production during the study period, with 133,955 metric tons in 2022. This represented over 70% of the world's total output. Other significant clove-producing countries include Madagascar, Tanzania, Comoros, and Sri Lanka. Indonesia is the world's largest consumer, using approximately 90% of its clove production.
- Traditionally, cloves were sold in bulk or unbranded packages. However, consumers are now increasingly preferring branded and packaged cloves. These packages authenticate the spice and display ingredient information. The global demand increase is also attributed to rising clove consumption, largely due to their recognized medicinal properties.
Cloves Market Trends
Increased Demand from Various Industries is Aiding the Production
The cloves market has experienced significant growth, particularly in developing economies, due to increasing demand for herbal and natural products. Cloves, renowned globally for their culinary and medicinal properties, are among the most valued spices. They are used not only to flavor curries, meats, fruits, and hot beverages but also for their health benefits, including aiding digestion, protecting the liver, boosting the immune system, and potentially defending against cancer.
Consumer preference for herbal and natural products has increased due to their effectiveness and minimal side effects, leading to higher demand for cloves. Manufacturers of natural, herbal, and organic products are increasingly using cloves as key ingredients in various items such as toothpaste, perfumes, skincare products, hair care products, and other scented goods. This expanding range of applications, combined with recognized health benefits, is driving the growing demand in the consumption market.
The market growth is further propelled by the rising demand for herbal supplements among middle-aged women and older adults. Additionally, the increased disposable income of consumers in developed countries, along with higher consumption of natural products, is anticipated to drive the cloves market during the forecast period.
Asia-Pacific Dominates the Global Clove Market
Asia-Pacific leads the world in clove production, with Indonesia at the forefront. Indonesia accounts for over 70% of global production, primarily driven by smallholder farmers. Sri Lanka and China follow as major producers. In 2022, Indonesia's clove production reached 133,955 metric tons, while Sri Lanka and China produced 5,722 metric tons and 1,320.19 metric tons, respectively. Despite its dominant production status, Indonesia exports only 10-15% of its total clove output.
Indonesia has experienced consistent growth in clove production. According to the FAO, Indonesia's clove harvested area increased from 575,813 hectares in 2020 to 577,328 hectares in 2022. This expansion reflects efforts to meet rising demand in both domestic and international markets. Domestic clove production in Asian countries, particularly Indonesia, primarily serves local demands, mainly as a raw material for the Kretek cigarette industry. Clove plants also yield three essential oils: clove oil, clove stalk oil, and clove leaf oil. Among these, clove oil is a significant commodity in the region. The surge in domestic consumption has led to increased imports from African countries to the Asia-Pacific region.
In 2023, key export destinations for Indonesian cloves included Saudi Arabia, India, Bangladesh, United Arab Emirates, United States, and Pakistan. Saudi Arabia and India emerged as the top importers of Indonesia's clove exports. Given the increasing global demand and robust production, the clove market in Asia-Pacific is expected to expand in the coming years.
Cloves Market News
- January 2024: The Morogoro Region, comprising Morogoro Rural, Kilombero, Mlimba, and the recently incorporated Mvomero District, produced approximately 2,000 metric tons of cloves in 2022, contributing significantly to Tanzania's annual clove output. This expansion in clove cultivation was led by the Southern Agricultural Corridor of Tanzania (SAGCOT) initiative.
- February 2022: Indesso, an Indonesian clove oil producer based in Java, established a factory near the Msasa IBC village in Tanga's Muheza district. This facility specializes in extracting oil from mature clove leaves.
Clove Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased Demand from Various Industries is Aiding the Production
4.2.2 Changing Food Preferences Across the Globe
4.2.3 Rising Concerns Regarding Healthy Lifestyle
4.3 Market Restraints
4.3.1 Concerns Regarding Food Adulteration
4.3.2 Highly Volatile Prices
4.4 Value Chain Analysis
5. MARKET SEGMENTATION
5.1 Geography (Production Analysis in Volume, Consumption Analysis by Volume and Value, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis)
5.1.1 North America
5.1.1.1 United States
5.1.2 Europe
5.1.2.1 United Kingdom
5.1.2.2 Germany
5.1.2.3 France
5.1.3 Asia-Pacific
5.1.3.1 Indonesia
5.1.3.2 China
5.1.3.3 India
5.1.3.4 Singapore
5.1.3.5 Malaysia
5.1.3.6 Sri Lanka
5.1.3.7 Vietnam
5.1.4 Middle East & Africa
5.1.4.1 Madagascar
5.1.4.2 Kingdom of Saudi Arabia
5.1.4.3 United Arab Emirates
5.1.4.4 Kenya
5.1.4.5 Comoros
5.1.4.6 Tanzania
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cloves Industry Segmentation
Clove is an aromatic flower spice used widely across various food and beverage applications. For the purpose of study whole fruits, cloves, or stems are considered. The Clove Market is Segmented by Geography into North America, Europe, Asia-Pacific, and Middle East & Africa. The analysis will cover Production Analysis (Volume), Consumption Analysis (Value and Volume), Import Analysis (Value and Volume), Export Analysis (Value and Volume), and Price Trend Analysis. The report offers market estimation and forecast in value (USD) and volume (Metric Tons).
| Geography (Production Analysis in Volume, Consumption Analysis by Volume and Value, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis) | |||||||||
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Clove Market Research FAQs
How big is the Clove Market?
The Clove Market size is expected to reach USD 5.80 billion in 2024 and grow at a CAGR of 3.70% to reach USD 6.95 billion by 2029.
What is the current Clove Market size?
In 2024, the Clove Market size is expected to reach USD 5.80 billion.
Which is the fastest growing region in Clove Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Clove Market?
In 2024, the Asia-Pacific accounts for the largest market share in Clove Market.
What years does this Clove Market cover, and what was the market size in 2023?
In 2023, the Clove Market size was estimated at USD 5.59 billion. The report covers the Clove Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Clove Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cloves Industry Report
Statistics for the 2024 Cloves market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Cloves analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
