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Canada - Cloves - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Canada - Cloves - Market Analysis, Forecast, Size, Trends and Insights

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Jan 26, 2024

Dramatic Increase in Canada's Import of Clove Reaches $442K in October 2023

Canada Clove Imports

In October 2023, the amount of cloves imported into Canada surged to 58 tons, increasing by 112% against September 2023. In general, imports saw a remarkable increase. The growth pace was the most rapid in November 2022 when imports increased by 283% month-to-month. As a result, imports attained the peak of 63 tons. From December 2022 to October 2023, the growth of imports remained at a somewhat lower figure.

In value terms, clove imports soared to $442K (IndexBox estimates) in October 2023. Over the period under review, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in June 2023 when imports increased by 195% month-to-month. As a result, imports reached the peak of $492K. From July 2023 to October 2023, the growth of imports remained at a somewhat lower figure.Canada Clove Imports By Country (USD)

COUNTRYImport Value of Clove in Canada (USD)
Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023
Sri Lanka10,0625495,25917,6332,8481,5701,8264,8325,5041,056199,97010,632173,519
India126,03987,950138,30348,31882,06565,436114,82599,39485,443103,38282,60674,398154,914
Indonesia6,370119,714141,899126,30424,22917,34788,62032,942271,14837,5079,24344,747101,068
Others22,533209,56149,10213,352124,074256,88716,30529,407129,43126,81490,064126,45612,399
Total165,004417,774334,563205,607233,216341,240221,576166,575491,526168,759381,883256,233441,900

Imports by Country

Indonesia (23 tons), Sri Lanka (20 tons) and India (14 tons) were the main suppliers of clove imports to Canada, with a combined 98% share of total imports.

From October 2022 to October 2023, the biggest increases were in Indonesia (with a CAGR of +35.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sri Lanka ($174K), India ($155K) and Indonesia ($101K) appeared to be the largest clove suppliers to Canada, together accounting for 97% of total imports.

In terms of the main suppliers, Sri Lanka, with a CAGR of +26.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In October 2023, the clove price amounted to $7,571 per ton (CIF, Canada), falling by -18.5% against the previous month. Overall, the import price saw a perceptible shrinkage. The most prominent rate of growth was recorded in December 2022 an increase of 73% month-to-month. The import price peaked at $11,680 per ton in January 2023; however, from February 2023 to October 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was India ($11,083 per ton), while the price for Indonesia ($4,416 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by India (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the clove market in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 698 - Cloves

Country coverage:

  • Canada

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Canada
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, HARVESTED AREA AND YIELD

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Area Harvested, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023

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