Report Update Apr 1, 2024

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

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Serbia: Clove Market 2024

Clove Market Size in Serbia

The Serbian clove market surged to $X in 2022, picking up by X% 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 perceptible expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Clove Exports

Exports from Serbia

In 2022, approx. X tons of cloves were exported from Serbia; growing by X% on the previous year. In general, exports recorded a strong increase. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, clove exports dropped modestly to $X in 2022. Over the period under review, exports posted a temperate expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X kg), Hungary (X kg) and Montenegro (X kg) were the main destinations of clove exports from Serbia, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Montenegro (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X), Montenegro ($X) and Hungary ($X) were the largest markets for clove exported from Serbia worldwide, together accounting for X% of total exports.

Montenegro, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average clove export price amounted to $X per ton, waning by X% against the previous year. In general, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Montenegro ($X per ton), while the average price for exports to Hungary ($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 Montenegro (X%), while the prices for the other major destinations experienced a decline.

Clove Imports

Imports into Serbia

In 2022, the amount of cloves imported into Serbia soared to X tons, jumping by X% against 2021 figures. Overall, imports showed a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, clove imports soared to $X in 2022. Over the period under review, imports saw notable growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Comoros (X tons) and Madagascar (X tons) were the main suppliers of clove imports to Serbia.

From 2012 to 2022, the biggest increases were recorded for Comoros (with a CAGR of X%).

In value terms, the largest clove suppliers to Serbia were Madagascar ($X) and Comoros ($X).

Among the main suppliers, Madagascar, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2022, the average clove import price amounted to $X per ton, dropping by X% against the previous year. Overall, the import price saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Madagascar ($X per ton), while the price for Comoros stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cloves in the world?

Indonesia constituted the country with the largest volume of clove consumption, accounting for 67% of total volume. Moreover, clove consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India, ninefold. The third position in this ranking was taken by the United Arab Emirates, with a 2.5% share.

What are the largest producers of cloves in the world?

Indonesia remains the largest clove producing country worldwide, comprising approx. 59% of total volume. Moreover, clove production in Indonesia exceeded the figures recorded by the second-largest producer, Madagascar, threefold. The third position in this ranking was taken by the United Arab Emirates, with a 4.9% share.

What are the leading suppliers of cloves to Serbia?

In value terms, the largest clove suppliers to Serbia were Madagascar and Comoros.

What are the leading importers of cloves from Serbia?

In value terms, Bosnia and Herzegovina, Montenegro and Hungary $497) appeared to be the largest markets for clove exported from Serbia worldwide, together comprising 98% of total exports.

What is the average export price for cloves in Serbia?

In 2022, the average clove export price amounted to $14,469 per ton, which is down by -9.2% against the previous year.

What is the average import price for cloves in Serbia?

The average clove import price stood at $10,168 per ton in 2022, declining by -11.8% against the previous year.

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

Serbia

Data coverage:

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