Market Size of Clove Industry
| 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 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 Size Summary
The cloves market is experiencing a steady growth trajectory, driven by the spice's extensive applications in culinary, medicinal, and personal care products. Cloves are highly valued for their health benefits, including their rich content of vitamins and antioxidants, which contribute to their popularity in treating various health issues. The demand for cloves is further bolstered by the rising consumer preference for herbal and natural products, particularly in developing economies. This trend is reflected in the increasing use of cloves as natural ingredients in a wide range of products, from toothpaste to skincare, enhancing their market appeal. The shift towards branded and packaged cloves is also notable, as consumers seek products that assure authenticity and provide detailed information about their ingredients.
Indonesia stands as the dominant player in the cloves market, being the largest producer and consumer globally. The country's clove production is primarily aimed at meeting domestic needs, particularly for the kretek cigarette industry, with a significant portion also exported to countries like India, Singapore, and the United States. Despite challenges such as bad weather affecting production, Indonesia's clove industry continues to thrive, supported by smallholder farmers and increasing domestic consumption. The global demand for cloves is expected to rise, driven by their diverse applications and health benefits, which in turn is likely to sustain the growth of the market during the forecast period.
Clove Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increased Demand from Various Industries is Aiding the Production
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1.2.2 Changing Food Preferences Across the Globe
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1.2.3 Rising Concerns Regarding Healthy Lifestyle
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1.3 Market Restraints
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1.3.1 Concerns Regarding Food Adulteration
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1.3.2 Highly Volatile Prices
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 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)
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2.1.1 North America
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2.1.1.1 United States
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2.1.2 Europe
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2.1.2.1 United Kingdom
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2.1.2.2 Germany
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2.1.2.3 France
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2.1.3 Asia-Pacific
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2.1.3.1 Indonesia
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2.1.3.2 China
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2.1.3.3 India
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2.1.3.4 Singapore
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2.1.3.5 Malaysia
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2.1.3.6 Sri Lanka
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2.1.3.7 Vietnam
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2.1.4 Middle East & Africa
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2.1.4.1 Madagascar
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2.1.4.2 Kingdom of Saudi Arabia
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2.1.4.3 United Arab Emirates
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2.1.4.4 Kenya
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2.1.4.5 Comoros
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2.1.4.6 Tanzania
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Clove Market Size 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.
