Global Clove Market Size, Share, Opportunities, COVID-19 Impact, And Trends by Application (Food & Beverages, Personal Care, Healthcare, Cosmetics), by Distribution Channel (Online, Offline), And by Geography – Forecast From 2019 To 2024

The clove market was valued at US$773.019 million in 2018 and is projected to expand at a CAGR of 2.86% over the forecast period to reach US$915.488 million by 2024. Clove is a multipurpose spice that is used in various industries as an ingredient. They are widely used in the form of oil in various types of products.

The global clove market is expected to grow due to its wide application in the food and beverage industry and healthcare. They are also widely used in cosmetic products like perfumes, toothpaste, etc. which are driving the global clove market. Change in the preference of the people for using herbal and natural products due to their effectiveness and no side effects is further expected to propel the market growth opportunities for manufacturers and vendors during the forecast period. The global clove market is segmented into application type, distribution channel, and geography. By application, the food and beverages segment is expected to hold a significant market share owing to its wide adoption. Geographically, Asia Pacific is projected to be a substantial shareholder due to its high consumption in terms of both value and volume in countries like India. Moreover expanding the food and beverage industry in developing countries is further anticipated to propel the market growth opportunities in the coming years.

DRIVERS

Increasing use in food & Beverages, cosmetic and personal care products.

Growing demand for natural and herbal products.

The major players profiled in the global clove market are True Ceylon Spices, Lankan Flavour, Super Africa Products, PTC Holdings, Biowin Agro Research, Akay Group Ltd., EcoSpice, and High range Spices.

Global Clove Market Scope:

Report Metric	Details
Market size value in 2018	US$773.019 million
Market size value in 2024	US$915.488 million
Growth Rate	CAGR of 2.86% from 2018 to 2024
Base year	2018
Forecast period	2019–2024
Forecast Unit (Value)	USD Million
Segments Covered	Application, Distribution Channel, And Geography
Regions covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered	True Ceylon Spices, Lankan Flavour, Super Africa Products, PTC Holdings, Biowin   Agro Research, Akay Group Ltd., EcoSpice, Highrange Spices
Customization scope	Free report customization with purchase

Segmentation

The global Clove market has been analyzed through the following segments:

By Application

Food & Beverages

Personal Care

Healthcare

Cosmetics

By Distribution Channel

Online Distribution

Offline Distribution

By Geography

North America

USA

Canada

Mexico

 

South America

Brazil

Argentina

Others

 

Europe

Germany

France

United Kingdom

Spain

Others

 

Middle East and Africa

Saudi Arabia

Israel

Others

 

Asia Pacific

China

Japan

South Korea

India

Others

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Frequently Asked Questions (FAQs)

Q1. What will be the clove market size by 2024?
A1. The clove market is projected to reach a market size of US$915.488 million in 2024.

Q2. What are the growth prospects for the clove market?
A2. The global clove market is projected to expand at a CAGR of 2.86% over the forecast period.

Q3. What is the size of the global clove market?
A3. Clove Market was valued at US$773.019 million in 2018.

Q4. What factors are anticipated to drive the clove market growth?
A4. The global clove market is expected to grow due to its wide application in the food and beverage industry and healthcare.

Q5. Which region holds the largest market share in the global clove market?
A5. Geographically, Asia Pacific is projected to be a substantial shareholder due to its high consumption in terms of both value and volume in countries like India.