Global Clove Market 2024

Clove Market Size

In 2022, the global clove market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is likely to see gradual growth in the near future.

Clove Production

In value terms, clove production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, global production growth remained at a lower figure.

The country with the largest volume of clove production was Indonesia (X tons), accounting for X% of total volume. Moreover, clove production in Indonesia exceeded the figures recorded by the second-largest producer, Madagascar (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total production with a X% share.

In Indonesia, clove production expanded at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Madagascar (X% per year) and the United Arab Emirates (X% per year).

The global average clove yield soared to X kg per ha in 2022, picking up by X% compared with the previous year's figure. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, the yield attained the peak level and is likely to continue growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cloves were harvested worldwide; approximately equating the previous year. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2015 when the harvested area increased by X%. The global harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Clove Exports

Exports

In 2022, approx. X tons of cloves were exported worldwide; rising by X% compared with the year before. In general, exports recorded resilient growth. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the global exports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, clove exports skyrocketed to $X in 2022. Overall, total exports indicated measured growth 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, exports increased by X% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Madagascar (X tons) represented the key exporter of cloves, making up X% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a X% share, followed by Singapore (X%) and Indonesia (X%). Tanzania (X tons), Comoros (X tons) and Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to clove exports from Madagascar stood at X%. At the same time, the United Arab Emirates (X%), Indonesia (X%) and Singapore (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Sri Lanka experienced a relatively flat trend pattern. By contrast, Tanzania (X%) and Comoros (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.), Madagascar (X p.p.) and Comoros (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Sri Lanka (X p.p.), Indonesia (X p.p.), Tanzania (X p.p.) and Singapore (X p.p.) displayed negative dynamics.

In value terms, Madagascar ($X) remains the largest clove supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Singapore ($X), with a X% share of global exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Madagascar stood at X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the average clove export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The global export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Clove Imports

Imports

For the third consecutive year, the global market recorded growth in supplies from abroad of cloves, which increased by X% to X tons in 2022. In general, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, clove imports soared to $X in 2022. Over the period under review, total imports indicated notable growth 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, imports increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia (X tons) and India (X tons) represented the major importers of cloves in 2022, amounting to near X% and X% of total imports, respectively. Singapore (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%). China (X tons), the United States (X tons), Saudi Arabia (X tons), Bangladesh (X tons), Malaysia (X tons), Pakistan (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), India ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of global imports. The United Arab Emirates, the United States, Malaysia, Saudi Arabia, Bangladesh, China, the Netherlands and Pakistan lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average clove import price amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, saw a pronounced shrinkage. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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