EU: Clove Market 2024

Clove Market Size in the EU

The EU clove market expanded slightly to $X in 2022, increasing by 2.2% against the previous year. Over the period under review, consumption recorded a mild reduction. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Clove Production in the EU

In value terms, clove production surged to $X in 2022 estimated in export price. In general, production, however, continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2014 with an increase of 40%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Belgium (X tons) remains the largest clove producing country in the European Union, comprising approx. 85% of total volume. Moreover, clove production in Belgium exceeded the figures recorded by the second-largest producer, Latvia (X tons), sixfold.

In Belgium, clove production remained relatively stable over the period from 2012-2022.

Clove Exports

Exports in the EU

In 2022, overseas shipments of cloves increased by 3.7% to X tons, rising for the third consecutive year after two years of decline. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, clove exports expanded rapidly to $X in 2022. In general, exports showed a modest increase. The pace of growth was the most pronounced in 2021 with an increase of 16%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, the Netherlands (X tons), distantly followed by Germany (X tons), Spain (X tons), France (X tons) and Latvia (X tons) were the largest exporters of cloves, together mixing up 85% of total exports. Austria (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Spain (with a CAGR of +22.9%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Spain ($X) were the countries with the highest levels of exports in 2022, together accounting for 67% of total exports.

Among the main exporting countries, Spain, with a CAGR of +18.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, rising by 3.6% against the previous year. Over the period under review, the export price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2013 when the export price increased by 4.8% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+2.2%), while the other leaders experienced a decline in the export price figures.

Clove Imports

Imports in the EU

After two years of growth, overseas purchases of cloves decreased by -2.7% to X tons in 2022. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 21%. Over the period under review, imports hit record highs at X tons in 2021, and then shrank slightly in the following year.

In value terms, clove imports stood at $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 11% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons) and Germany (X tons) were the largest importers of cloves in 2022, finishing at approx. 25% and 24% of total imports, respectively. France (X tons) held the next position in the ranking, followed by Spain (X tons), Poland (X tons) and Italy (X tons). All these countries together held approx. 29% share of total imports. The following importers - Sweden (X tons), Austria (X tons), Latvia (X tons) and Greece (X tons) - together made up 11% of total imports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +11.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) constituted the countries with the highest levels of imports in 2022, together comprising 53% of total imports. Poland, Spain, Italy, Sweden, Austria, Latvia and Greece lagged somewhat behind, together accounting for a further 32%.

Latvia, with a CAGR of +8.7%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, growing by 13% against the previous year. In general, the import price, however, continues to indicate a mild reduction. The pace of growth was the most pronounced in 2013 when the import price increased by 16%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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