Global Cloves Market Size to Hit USD 6.7 Billion by 2030, at a 3.7% CAGR | Key Players, Revenue Analysis, and Growth Opportunities

Phoenix, AZ, March 07, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Cloves Market By Form (Whole, Powder, And Oil), By Application (Food And Beverage, Healthcare Products, And Personal Care & Cosmetics), By End-Users (Commercial And Household), By Distribution Channel (Online Retailers, Hypermarket/Supermarket, Departmental Stores, And Grocery Stores), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

What are Cloves, Some facts about Cloves?

1. Cloves are the dried flower buds of the clove tree, which is native to Indonesia.
2. Cloves are commonly used as a spice in many cuisines, including Indian, Indonesian, and Middle Eastern.
3. Cloves are highly aromatic and have a strong, sweet, and slightly bitter flavor.
4. Cloves are rich in nutrients, including fiber, vitamins, and minerals, such as manganese, vitamin K, and vitamin C.
5. Cloves are also a good source of antioxidants, which help to protect the body against damage from free radicals.
6. Cloves have been used for centuries in traditional medicine to treat various ailments, including toothaches, digestive issues, and respiratory problems.
7. Cloves contain a compound called eugenol, which has anti-inflammatory, analgesic, and antibacterial properties.
8. Cloves may help to improve digestion by increasing the production of digestive enzymes and reducing inflammation in the gut.
9. Cloves may also have benefits for oral health, as they can help to reduce inflammation and pain associated with toothaches and gum disease.
10. Cloves are often used in natural remedies and aromatherapy due to their pleasant scent and potential health benefits.

How big is the Cloves Industry?

“According to the latest research study, the demand of global Cloves Market size & share in terms of revenue was valued at USD 4.1 billion in 2022 and it is expected to surpass around USD 6.7 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 3.7% during the forecast period 2023 to 2030.”

Report Overview:

Cloves are kind of spices that are characterized by a pungent aroma and a strong spicy flavor. They are used grinded and used in the preparation of marinades and meat. Apart from this, cloves find lucrative applications in mouth fresheners, perfumes, and toothpaste. They are also used in culinary foods and other cuisines. Clove is also used for medicinal purposes and as traditional medicine in various cultures for reducing toothache, headache, and arthritic inflammation.

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• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
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Global Cloves Market: Growth Factors

Growing use of cloves as food preservatives has not only made it popular across the globe but has also contributed majorly to the global cloves market demand. In addition to this, cloves are antioxidants, containing large proportions of gallic acid and eugenol. Moreover, clove oil is used for relieving pain, curing respiratory conditions, and improving digestion. All these aforementioned factors will accentuate the growth of the cloves market. Strong aromatic flavor imparted by cloves to food products has increased its use in cooking activities globally, thereby steering the market growth trends.

However, few risks are related to use of clove as well as clove oil. As per NCBI, the use of clove oil can cause skin irritation, respiratory problems, and eye problems. All these factors can impede the expansion of the global cloves industry. Nevertheless, escalating penetration of cloves in food & beverage, perfumes, and toothpaste will create new growth opportunities for the global industry.

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Report Scope

Cloves Market: Segmentation Analysis

Based on the end-users, the global cloves market is divided into commercial and household segments. Moreover, the household segment is predicted to lead the end-users segment over the projected timeframe owing to the massive demand for cloves from various households as the use of cloves as traditional medicine is part of various cultures across the globe.

Based on the form, the cloves market across the globe is divided into powder, whole, and oil segments.

In terms of application, the global cloves industry is sectored into healthcare products, food and beverage, and personal care & cosmetics segments.

In terms of distribution channel, the global cloves industry is bifurcated into departmental stores, online retailers, hypermarket/supermarket, and grocery stores segments. In addition to this, the grocery stores segment is expected to dominate the distribution channel segment in the years ahead. The growth of the segment from 2023 to 2030 can be owing to the large-scale stocking of cloves on shelves of grocery stores. Apart from this, a large proportion of cloves is sold at these grocery stores, thereby driving the segmental surge.

The global Cloves market is segmented as follows:

By Form

• Powder
• Whole
• Oil

By Distribution Channel

• Online Retailers
• Hypermarket/Supermarket
• Departmental Stores
• Grocery Stores

By Application

• Food and Beverage
• Healthcare Products
• Personal Care & Cosmetics

By End-Users

• Commercial
• Household

Browse the full “Cloves Market By Form (Whole, Powder, and Oil), By Application (Food and Beverage, Healthcare Products, and Personal Care & Cosmetics), By End-Users (Commercial and Household), By Distribution Channel (Online Retailers, Hypermarket/Supermarket, Departmental Stores, and Grocery Stores), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/cloves-market

Competitive Landscape

Some of the main competitors dominating the global Cloves market include - 

• Royal Spices
• Super Africa Products
• Shaanxi Longleaf Biotechnology Co. Ltd.
• Jiangxi Yisenyuan Plant Spices Co. Ltd
• Clove Rect. Indonesia Oil
• Sancheti Global Inc
• Aroma Aromatics & Flavors
• Saipro Biotech Private Limited
• Qingdao Cemo Technology Develop Co. Ltd.
• Madagascar Spices Company
• PTC Agro Ltd.
• Ultra-International Limited
• Lankan FlavourWee Kiat Development Pte Ltd.
• Hebei Guanlang Biotechnology Co. Ltd
• NOW Foods
• Union Trading Company
• True Ceylon Spices
• Eastmade Spices & Herbs Private Limited
• Ultra International B.V.
• Berje Inc.
• Manohar Botanical Extracts Pvt. Ltd.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Cloves market is likely to expand at a CAGR of around 3.7% during the forecast period (2023-2030).                                                       
• In terms of revenue, the Cloves market size was valued at around US$ 4.1 billion in 2022 and is projected to reach US$ 6.7 billion by 2030.
• Based on segmentation, the cloves market across the globe is divided into powder, whole, and oil segments 2022.
• Based on application segmentation, the global cloves industry is sectored into healthcare products, food and beverage, and personal care & cosmetics segments 2022
• On the basis of geography/region, The Asia-Pacific cloves market is anticipated to register huge growth over the forecast timeline

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Key questions answered in this report:

• What is the market size and growth rate forecast for Cloves industry?
• What are the main driving factors propelling the Cloves Market forward?
• What are the leading companies in the Cloves Industry?
• What segments does the Cloves Market cover?
• How can I receive a free copy of the Cloves Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Form, By Distribution Channel, By Application, By End-Users and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The Asia-Pacific cloves market is anticipated to register huge growth over the forecast timeline. The expansion of the regional market over the projected timespan can be credited to a rise in the production of cloves in the countries such as Indonesia. In addition to this, the presence of giant players in the country will help in the proliferation of the size of the cloves market in the Asia-Pacific. Moreover, Indonesia also exports cloves to various countries such as India, Bangladesh, Singapore, the United Arab Emirates, the United States of America, and Pakistan. This has created new growth opportunities for the cloves market in the country as well as across the Asia-Pacific region.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In February 2023, Kretek International, Inc., a key U.S.-based distribution & marketing firm in the specialty tobacco business, launched nicotine-free & hemp-free clove cigars. Reportedly, the new Djarum Bliss cigar product line offers complete clove flavor & aroma devoid of tobacco for clove smokers. The new product will be available in convenience stores and California tobacco stores. It is available in four distinct clove flavors including menthol, tobacco-free, and original clove flavors. The move will help in the expansion of the cloves industry in the U.S. and across the North American sub-continent.  
• In February 2022, Indesso, a key clove oil manufacturer in Indonesia, established a factory in Indonesia for deriving clove oil from the leaves of the clove plants. The move will boost the growth trends of the cloves market in Southeast Asia.
• In October 2021the government of India provided a geographical indication (GI) tag to Kanyakumari clove. Reportedly, the Kanyakumari cloves are cultivated in hilly areas of western ghats in Tamil Nadu. Such initiatives will provide impetus to clove harvesting in India and will pave a way for massive growth of the cloves market in the Asia-pacific zone.

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FREQUENTLY ASKED QUESTIONS

• What is the current market size of the global cloves market?

According to recent reports, the global cloves market size was valued at over $4.1 billion in 2022 and is expected to continue growing over the next few years.

• What are the main factors driving growth in the cloves market?

The growth of the cloves market is being driven by increasing demand from the food and beverage industry, as well as from the pharmaceutical and personal care industries.

• What are the main types of cloves available in the market?

The main types of cloves available in the market are whole cloves, ground cloves, and clove oil.

• What are the main applications of cloves in the food industry?

Cloves are used in a wide range of food products, including meat dishes, curries, soups, sauces, and baked goods. They are also used in spice blends such as garam masala and pumpkin spice.

• What are the main applications of cloves in the pharmaceutical and personal care industries?

Cloves are used in a variety of pharmaceutical and personal care products, including toothpaste, mouthwash, and soaps. They are also used in traditional medicines to treat a variety of ailments.

• Which regions are the largest producers and consumers of cloves?

Indonesia is the largest producer of cloves, accounting for around 80% of global production. Other major producers include Madagascar, Tanzania, and Sri Lanka. The largest consumers of cloves are India, the United States, and Europe.

• What are the main challenges facing the cloves market?

One of the main challenges facing the cloves market is the potential impact of climate change on clove production, as well as the increasing use of synthetic alternatives in the food and pharmaceutical industries.

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