EU: Clove Market 2023

Clove Market Size in the EU

The EU clove market expanded rapidly to $X in 2021, growing by 6.8% against the previous year. Overall, consumption, however, saw a mild setback. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Clove Production in the EU

In value terms, clove production stood at $X in 2021 estimated in export price. In general, production saw a perceptible setback. The most prominent rate of growth was recorded in 2014 when the production volume increased by 39% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Belgium (X tons) constituted the country with the largest volume of clove production, comprising approx. 100% of total volume.

In Belgium, clove production remained relatively stable over the period from 2012-2021.

Clove Exports

Exports in the EU

In 2021, overseas shipments of cloves increased by 21% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, clove exports surged to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons) and Germany (X tons) represented the largest exporters of cloves in 2021, resulting at near 36% and 24% of total exports, respectively. Spain (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by France (9%). The following exporters - Poland (X tons), Latvia (X tons) and Austria (X tons) - each recorded an 8.3% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Spain (with a CAGR of +23.7%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Spain ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 66% of total exports.

Spain, with a CAGR of +20.7%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, falling by -4% against the previous year. Over the period under review, the export price showed a pronounced decline. The most prominent rate of growth was recorded in 2013 an increase of 4.8% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Austria ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+1.1%), while the other leaders experienced mixed trends in the export price figures.

Clove Imports

Imports in the EU

In 2021, approx. X tons of cloves were imported in the European Union; growing by 13% on 2020 figures. The total import volume increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 19%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, clove imports rose remarkably to $X in 2021. Overall, imports, however, recorded a slight slump. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) and Germany (X tons) represented the largest importers of cloves in the European Union, together committing 49% of total imports. It was distantly followed by France (X tons), Spain (X tons) and Poland (X tons), together constituting a 28% share of total imports. The following importers - Italy (X tons), Austria (X tons), Sweden (X tons), Greece (X tons), Latvia (X tons) and Belgium (X tons) - together made up 15% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Spain (with a CAGR of +13.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 54% share of total imports. Spain, Poland, Italy, Austria, Sweden, Belgium, Greece and Latvia lagged somewhat behind, together accounting for a further 33%.

In terms of the main importing countries, Spain, with a CAGR of +8.0%, recorded the highest growth rate of 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 2021, the import price in the European Union amounted to $X per ton, flattening at the previous year. Overall, the import price recorded a pronounced decline. The most prominent rate of growth was recorded 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 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Belgium ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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