Cloves

Cloves

Global Cloves Market to Reach US$6.7 Billion by 2030

The global market for Cloves estimated at US$5.7 Billion in the year 2023, is expected to reach US$6.7 Billion by 2030, growing at a CAGR of 2.2% over the analysis period 2023-2030. Whole Cloves Form, one of the segments analyzed in the report, is expected to record a 2.2% CAGR and reach US$3.2 Billion by the end of the analysis period. Growth in the Ground Cloves Form segment is estimated at 1.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.6 Billion While China is Forecast to Grow at 4.4% CAGR

The Cloves market in the U.S. is estimated at US$1.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 4.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.5% and 1.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.0% CAGR.

Cloves- Key Trends and Drivers

Cloves are a highly aromatic spice derived from the flower buds of the Syzygium aromaticum tree, native to the Maluku Islands in Indonesia. These dried flower buds are known for their intense flavor and aroma, which comes from the compound eugenol, making them a popular addition in cuisines worldwide. Cloves are used in both whole and ground form and are a staple in spice blends such as garam masala in India, pumpkin spice in the United States, and quatre épices in France. Beyond their culinary use, cloves have a rich history in traditional medicine and are used for their antiseptic, analgesic, and anti-inflammatory properties. They also feature prominently in the production of cigarettes and some toothpastes and mouthwashes, valued for their distinctive flavor and therapeutic effects.

The global market for cloves is influenced by various cultural, economic, and culinary factors. As a versatile ingredient, cloves are found in a myriad of products ranging from savory dishes to desserts and beverages. Their use in holiday recipes in Western countries, particularly during the Christmas season, and in religious and cultural ceremonies in parts of Asia and Africa, underscores their global appeal and perennial demand. The trade of cloves is also a significant economic contributor in countries like Madagascar, Indonesia, and Tanzania, where cloves are a key export commodity. Moreover, the spice’s popularity in traditional and herbal medicine, especially in Chinese and Ayurvedic treatments, continues to support its market globally, driven by a growing consumer interest in natural health products and holistic wellness.

The growth in the cloves market is driven by several factors including rising global culinary interest and the increasing incorporation of ethnic and exotic spices into everyday cooking. The spice`s health benefits, particularly its potential for managing blood sugar levels and reducing inflammation, align with the current consumer trend towards functional foods that promote health and wellness. Additionally, advancements in agronomy and better cultivation techniques have improved yield and quality, making cloves more accessible to international markets. The growth of online spice retailers and global distribution channels has also made it easier for consumers to obtain high-quality cloves regardless of their geographic location. Furthermore, the expanding vegan and vegetarian populations are increasingly using spices like cloves to enrich the flavors of plant-based dishes, contributing to the sustained demand and growth of the cloves market.

Select Competitors (Total 42 Featured) -

• A.G. Organica Pvt. Ltd
• Aroma Aromatics & Flavors
• Berje Inc.
• De Monchy Natural Products BV
• Diasporaco Co.
• Eastmade Spices & Herbs Private Limited
• Fairoils SRL
• Lankan Flavour
• Madagascar Spices Company
• NOW Foods
• P.T.C Agro (Private) Limited
• PT Indo Madagaskar Raya
• Saipro Biotech Private Limited
• Schiff Food Products Co., Inc.
• Shaanxi Bolin Biotechnology Co.,Ltd
• True Ceylon Spices
• Ultra International B.V.;

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.