Eastern Asia: Clove Market 2025

Clove Market Size in Eastern Asia

The East Asian clove market skyrocketed to $X in 2022, rising by 21% against the previous year. Overall, consumption enjoyed a resilient expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Clove Production in Eastern Asia

In value terms, clove production rose to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2014 with an increase of 45% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of clove production was China (X tons), accounting for 97% of total volume. It was followed by Hong Kong SAR (X tons), with a 3.1% share of total production.

From 2012 to 2022, the average annual growth rate of volume in China stood at +1.4%.

In 2022, the average yield of cloves in Eastern Asia was estimated at X tons per ha, standing approx. at 2021 figures. Over the period under review, the yield recorded a mild increase. The most prominent rate of growth was recorded in 2017 when the yield increased by 5.6% against the previous year. The level of yield peaked at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cloves in Eastern Asia reached X ha, leveling off at 2021. In general, the harvested area recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the harvested area increased by 3.5%. The level of harvested area peaked at X ha in 2020; afterwards, it flattened through to 2022.

Clove Exports

Exports in Eastern Asia

In 2022, after four years of growth, there was significant decline in shipments abroad of cloves, when their volume decreased by -7.7% to X tons. In general, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 120% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, clove exports totaled $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 158%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The shipments of the one major exporters of cloves, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the cloves exports, with a CAGR of +28.2% from 2012 to 2022. From 2012 to 2022, the share of China increased by +36 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest clove supplier in Eastern Asia.

In China, clove exports increased at an average annual rate of +26.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by 9.2% against the previous year. Overall, the export price, however, continues to indicate a slight slump. The pace of growth appeared the most rapid in 2021 when the export price increased by 70% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -1.1% per year.

Clove Imports

Imports in Eastern Asia

In 2022, approx. X tons of cloves were imported in Eastern Asia; increasing by 23% compared with 2021 figures. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 220%. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, clove imports soared to $X in 2022. Over the period under review, imports recorded strong growth. The growth pace was the most rapid in 2020 when imports increased by 167%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China prevails in imports structure, amounting to X tons, which was near 80% of total imports in 2022. Japan (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together held near 16% share of total imports. South Korea (X tons) took a minor share of total imports.

China was also the fastest-growing in terms of the cloves imports, with a CAGR of +33.3% from 2012 to 2022. At the same time, South Korea (+5.2%), Taiwan (Chinese) (+5.1%) and Japan (+1.7%) displayed positive paces of growth. While the share of China (+57 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (-6.9 p.p.), Taiwan (Chinese) (-12.9 p.p.) and Japan (-32.1 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported cloves in Eastern Asia, comprising 59% of total imports. The second position in the ranking was taken by Japan ($X), with a 24% share of total imports. It was followed by South Korea, with a 9.1% share.

In China, clove imports expanded at an average annual rate of +31.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-1.6% per year) and South Korea (+2.0% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, waning by -3.8% against the previous year. In general, the import price showed a deep contraction. The pace of growth was the most pronounced in 2014 an increase of 14%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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