U.S.: Clove Market 2022

Clove Market Size in the U.S.

In 2021, after two years of growth, there was significant decline in the U.S. clove market, when its value decreased by -X% to $X. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Clove Exports

Exports from the U.S.

In 2021, shipments abroad of cloves was finally on the rise to reach X tonnes after two years of decline. Overall, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tonnes. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, clove exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2014 with an increase of X% y-o-y. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Canada (X tonnes) was the main destination for clove exports from the United States, accounting for a X% share of total exports. Moreover, clove exports to Canada exceeded the volume sent to the second major destination, Trinidad and Tobago (X tonnes), eightfold. Mexico (X tonnes) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Canada stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (+X% per year) and Mexico (+X% per year).

In value terms, Canada ($X) remains the key foreign market for clove exports from the United States, comprising X% of total exports. The second position in the ranking was occupied by Trinidad and Tobago ($X), with an X% share of total exports. It was followed by Mexico, with a X% share.

From 2012 to 2021, the average annual growth rate of value to Canada stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (+X% per year) and Mexico (+X% per year).

Export Prices by Country

In 2021, the average clove export price amounted to $X per tonne, with a decrease of -X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by X% year-to-year. Over the period under review, the average export prices attained the peak figure at $X per tonne in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Mexico ($X per tonne), while the average price for exports to South Korea ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Clove Imports

Imports into the U.S.

After two years of growth, purchases abroad of cloves decreased by -X% to X tonnes in 2021. The total import volume increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X% y-o-y. As a result, imports reached the peak of X tonnes, and then declined significantly in the following year.

In value terms, clove imports reduced to $X in 2021. In general, imports, however, recorded a perceptible decline. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tonnes) constituted the largest clove supplier to the United States, accounting for a X% share of total imports. Moreover, clove imports from Indonesia exceeded the figures recorded by the second-largest supplier, India (X tonnes), twofold. Sri Lanka (X tonnes) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+X% per year) and Sri Lanka (+X% per year).

In value terms, Indonesia ($X), Sri Lanka ($X) and India ($X) constituted the largest clove suppliers to the United States, together accounting for X% of total imports. These countries were followed by Brazil, Madagascar, Comoros, Spain, China and Vietnam, which together accounted for a further X terms of the main suppliers, Brazil, with a CAGR of +X%, 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 2021, the average clove import price amounted to $X per tonne, growing by X% against the previous year. In general, the import price, however, recorded a noticeable curtailment. Over the period under review, average import prices hit record highs at $X per tonne in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Sri Lanka ($X per tonne), while the price for Vietnam ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform