Report Update Nov 1, 2024

Saudi Arabia - Cloves - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Clove Market 2024

Clove Market Size in Saudi Arabia

The Saudi clove market was finally on the rise to reach $X in 2022, after three years of decline. Over the period under review, consumption enjoyed prominent growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Clove Exports

Exports from Saudi Arabia

In 2022, exports of cloves from Saudi Arabia declined sharply to X tons, which is down by -40.2% compared with the previous year's figure. Overall, exports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2021 when exports increased by 408%. As a result, the exports reached the peak of X tons, and then shrank rapidly in the following year.

In value terms, clove exports shrank rapidly to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 368% against the previous year. As a result, the exports attained the peak of $X, and then dropped notably in the following year.

Exports by Country

Yemen (X tons) was the main destination for clove exports from Saudi Arabia, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Yemen amounted to +27.9%.

In value terms, Yemen ($X) emerged as the key foreign market for cloves exports from Saudi Arabia.

From 2012 to 2022, the average annual rate of growth in terms of value to Yemen totaled +25.2%.

Export Prices by Country

The average clove export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the export price recorded notable growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 20%. The export price peaked at $X per ton in 2020; however, from 2021 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 Yemen.

From 2012 to 2022, the rate of growth in terms of prices for Kuwait amounted to +3.5% per year.

Clove Imports

Imports into Saudi Arabia

In 2022, after three years of decline, there was significant growth in overseas purchases of cloves, when their volume increased by 16% to X tons. In general, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -18.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 67% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, clove imports reached $X in 2022. Over the period under review, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 113% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of clove to Saudi Arabia, accounting for a 84% share of total imports. Moreover, clove imports from Indonesia exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from Indonesia totaled +16.0%.

In value terms, Indonesia ($X) constituted the largest supplier of cloves to Saudi Arabia, comprising 81% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Indonesia totaled +30.1%.

Import Prices by Country

In 2022, the average clove import price amounted to $X per ton, reducing by -13.3% against the previous year. Overall, the import price, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 50% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while the price for Indonesia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cloves in the world?

The country with the largest volume of clove consumption was Indonesia, accounting for 53% of total volume. Moreover, clove consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India, fourfold. The third position in this ranking was occupied by Madagascar, with a 4.2% share.

What are the largest producers of cloves in the world?

The country with the largest volume of clove production was Indonesia, comprising approx. 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 Saudi Arabia?

In value terms, Indonesia constituted the largest supplier of clove to Saudi Arabia, comprising 76% of total imports. The second position in the ranking was occupied by Madagascar, with a 7.8% share of total imports. It was followed by Sri Lanka, with a 7.4% share.

What are the leading importers of cloves from Saudi Arabia?

In value terms, the largest markets for clove exported from Saudi Arabia were Kuwait, Yemen and Pakistan, together comprising 97% of total exports.

What is the average export price for cloves in Saudi Arabia?

The average clove export price stood at $4,346 per ton in 2021, shrinking by -29.1% against the previous year.

What is the average import price for cloves in Saudi Arabia?

In 2021, the average clove import price amounted to $5,638 per ton, rising by 9.3% against the previous year.

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

Saudi Arabia

Data coverage:

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

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