Global Clove Market Insights Forecasts to 2033.

• The Global Clove Market Size was Valued at USD 4.1 Billion in 2023.
• The Market Size is Growing at a CAGR of 4.22% from 2023 to 2033.
• The Worldwide Clove Market Size is Expected to Reach USD 6.2 Billion by 2033.
• Europe is expected to Grow the fastest during the forecast period.

The Global Clove Market Size is Anticipated to Exceed USD 6.2 Billion by 2033, Growing at a CAGR of 4.22% from 2023 to 2033.  

Market Overview

Clove is the flower bud part of trees belonging to the family Myrtaceae, Syzygium aromaticum. It provides flavoring and fragrance in consumer products, such as toothpaste, soaps, and cosmetics. It is a versatile spice that is used to provide flavor to curries, meat, and fruit. Clove oil is one the essential oil that is extensively used in traditional medicine due to its medicinal properties. Eugenol is the principle active component that comprises 72-80% of clove responsible for providing aromatic essence. The use of clove oil in combination with lemon and sugar provides an aromatic flavor to hot beverage products. The antibacterial property of clove helps to prevent the growth of Enterococcus faecalis bacteria in the treatment of root canals. It also possesses analgesic properties to provide relief from toothache. The growing inclination towards health consciousness raising the market demand for herbal and natural-based products. Clove provides a wide range of medicinal property that aids in digestion, protect the liver, boost immunity, and fight against cancer. There is an increasing demand for flavored food and drinks like pickles, sauces, baked goods, and confections which is driving the market demand in the food & beverage industry. Due to the various medicinal properties of clove, there is a rising popularity of clove-based products in the pharmaceutical and healthcare industries likely to propel the market.   

Report Coverage

This research report categorizes the market for the global clove market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global clove market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global clove market.

Driving Factors

The increasing utilization of clove as a flavoring agent in food products like pickles, sauces, baked goods, and confections driving the market demand in the food & beverage industry. The growing awareness regarding the medicinal properties of clove such as antibacterial, anti-inflammatory, and antioxidant rising popularity of clove in the pharmaceutical and healthcare industry. The ongoing research and development of new and innovative clove-based products propels the market growth in coming years. Cloves are becoming more in demand in a variety of culinary applications as consumers are demanding new flavors and experiences.    

Restraining Factors

The fluctuation in production and supply chain of clove products due to distinct growth and flowering seasons of clove impeding the global clove market. Further, the availability of cheap synthetic clove alternatives is decreasing the global market demand for clove. Thus the seasonal flowering of clove and the availability of clove substitutes are restraining the global clove market.         

Market Segmentation

The Global Clove Market share is classified into form, application, and distribution channels.

• The powder segment is expected to hold the largest share of the global clove market during the forecast period.    

Based on the form, the global clove market is divided into oil, powder, and whole. Among these, the powder segment is expected to hold the largest share of the global clove market during the forecast period. The powder form is the most convenient segment of the clove market having more accessibility and affordability than other forms of clove. Clove powder is popularly used as a spice ingredient in a culinary dishes.         

• The food & beverage segment is expected to grow at the fastest pace in the global clove market during the forecast period.    

Based on the application, the global clove market is divided into healthcare products, food and beverage, and personal care & cosmetics segments. Among these, the food & beverage segment is expected to grow at the fastest pace in the global clove market during the forecast period. Clove is extensively used in food and beverage products especially in tea, thereby driving segmental growth. The aromatic flavor of clove enhances the taste and fragrance most of culinary dishes. Along with this, clove also constitutes nutrients such as fiber, vitamins, and minerals which provides a healthy choice of food to the customer.   

• The online segment is expected to grow at the greatest pace in the global clove market during the forecast period.

Based on the distribution channel, the global clove market is divided into offline and online. Among these, the online segment is expected to grow at the greatest pace in the global clove market during the forecast period. The increasing popularity of online shopping escalating the clove market in the online segment. The safety, convenience, discounts, offers, better prices, and time-saving nature of online platforms promote the adoption of online retailing of clove. Several brands sell clove bud essential oils via hybrid mode. Online sales constitute a significant proportion of the clove market distribution channel.

Regional Segment Analysis of the Global Clove Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global clove market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global clove market over the predicted timeframe. Clove is extensively used in cuisine to give flavor and spicy taste to food products. There is an increasing demand for herbal natural-based healthcare and pharmaceutical products. The growing awareness regarding the beneficiary effects of clove and growing inclination towards nature-based products propelling the clove market. Countries like China, Japan, India, and South Korea in the Asia-Pacific region have lucrative markets with strategic investments by global companies in the region.  

Europe is expected to grow at the fastest pace in the global clove market during the forecast period. The popularity of Asian cuisine in the region of Europe increasing clove demand contributing to the market growth of clove. The clove market is providing an opportunity for several types of clove from developing countries.  

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global clove along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• The Kraft Heinz Company
• Archer Daniels Midland Company
• Kerry Group plc
• Royal spices
• Sancheti Global Inc
• Madagascar Spices Company
• Shaanxi Longleaf Biotechnology Co. Ltd.
• PTC Agro Ltd.
• Saipro Biotech Pvt. Ltd.
• Berje Inc.
• True Ceylon Spices
• Aroma Aromatics & Flavours
• Lankan Flavour.
• Wee Kiat Development Pvt. Ltd.
• Manohar Botanical Extracts Pvt. Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2022, clove oil producing firm, Indesso in Indonesia, plans to build clove oil extracting factory in Muheza, Tanga.
• In October 2021, the unique clove spice grown in the hills of Kanyakumari district in Tamil Nadu has been awarded a geographical indication (GI) as ‘Kanyakumari clove’.  

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Clove Market based on the below-mentioned segments:  

Global Clove Market, By Form

• Oil
• Powder
• Whole

Global Clove Market, By Application

• Healthcare products 
• Food and beverage
• Personal care & cosmetics

Global Clove Market, By Distribution Channel

• Online
• Offline

Global Clove Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa