Report Update Nov 1, 2024

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

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Hungary: Clove Market 2024

Clove Market Size in Hungary

The Hungarian clove market surged to $X in 2022, jumping by 64% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a measured expansion. Clove consumption peaked in 2022 and is likely to see steady growth in years to come.

Clove Exports

Exports from Hungary

In 2022, overseas shipments of cloves decreased by -12.3% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 18,151%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, clove exports fell slightly to $X in 2022. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 13,199% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for clove exports from Hungary, with a 68% share of total exports. Moreover, clove exports to Germany exceeded the volume sent to the second major destination, Croatia (X kg), ninefold. Romania (X kg) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +153.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (-6.3% per year) and Romania (+22.5% per year).

In value terms, Germany ($X) emerged as the key foreign market for cloves exports from Hungary, comprising 62% of total exports. The second position in the ranking was held by Romania ($X), with a 10% share of total exports. It was followed by Croatia, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +197.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+17.9% per year) and Croatia (+16.1% per year).

Export Prices by Country

In 2022, the average clove export price amounted to $X per ton, rising by 11% against the previous year. Overall, the export price, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2014 an increase of 117%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+89.8%), while the prices for the other major destinations experienced more modest paces of growth.

Clove Imports

Imports into Hungary

Clove imports into Hungary soared to X tons in 2022, rising by 50% compared with 2021 figures. Over the period under review, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 216%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, clove imports surged to $X in 2022. In general, imports saw a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Austria (X tons) and Romania (X tons) were the main suppliers of clove imports to Hungary, with a combined 61% share of total imports. Madagascar, Latvia, Indonesia and Germany lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +69.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest clove suppliers to Hungary were the Netherlands ($X), Austria ($X) and Romania ($X), with a combined 70% share of total imports. Madagascar, Indonesia, Latvia and Germany lagged somewhat behind, together accounting for a further 22%.

In terms of the main suppliers, Indonesia, with a CAGR of +68.5%, recorded 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 2022, the average clove import price amounted to $X per ton, which is down by -2.5% against the previous year. Over the period under review, the import price recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2019 an increase of 26%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cloves in the world?

Indonesia remains the largest clove consuming country worldwide, comprising approx. 53% of total volume. Moreover, clove consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India, fourfold. Madagascar ranked third in terms of total consumption with a 4.2% share.

What are the largest producers of cloves in the world?

Indonesia constituted the country with the largest volume of clove production, accounting for 67% of total volume. Moreover, clove production in Indonesia exceeded the figures recorded by the second-largest producer, Madagascar, sixfold. The third position in this ranking was occupied by Tanzania, with a 4.3% share.

What are the leading suppliers of cloves to Hungary?

In value terms, the largest clove suppliers to Hungary were the Netherlands, Austria and Latvia, together accounting for 85% of total imports. China, Romania and Slovakia lagged somewhat behind, together comprising a further 13%.

What are the leading importers of cloves from Hungary?

In value terms, Greece emerged as the key foreign market for clove exports from Hungary, comprising 44% of total exports. The second position in the ranking was occupied by the Netherlands, with a 15% share of total exports. It was followed by the Czech Republic, with a 7.6% share.

What is the average export price for cloves in Hungary?

In 2021, the average clove export price amounted to $8,408 per ton, surging by 19% against the previous year.

What is the average import price for cloves in Hungary?

The average clove import price stood at $8,845 per ton in 2021, shrinking by -34.9% against the previous year.

This report provides an in-depth analysis of the clove market in Hungary. 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:

Hungary

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hungary
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
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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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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