World: Cloves - Market Report. Analysis And Forecast To 2025

Global clove market revenue amounted to 1,035 million USD in 2015, waning by -19.2% against the previous year level. Overall, global clove market continues to indicate a significant growth: the market value increased at an average annual rate of +14.4% from 2007 to 2015. This trend pattern, however, was roller-coasting throughout the analyzed period. The growth pace was the most rapid in 2011, when the market revenue increased by +119% from the previous year level. Over the period under review, the global clove market attained its maximum revenue of 1,281 million USD in 2014. From 2015 to the end of the period under review, the total clove market revenue failed to regain its former peak level.

Over the analyzed period, an increase in global clove production was primarily driven by diversification of diet. Furthermore, these key drivers are expected to continue promoting the clove output in the immediate term. This general positive trend was largely conditioned by a robust expansion of the harvested area and a slight contraction of the yield figures.

The country with the largest volume of the clove output in absolute volumes was Indonesia (133 thousand tonnes), accounting for 81% of global production. Moreover, clove output in Indonesia exceeded the figures recorded by the world's second largest producer, Madagascar (11 thousand tonnes), more than tenfold. The third position in this ranking was occupied by Tanzania with a share of 6%. From 2007 to 2015, an average annual growth rate of Indonesia's clove producton stood at +6.5%. The remaining producing countries recorded the following average annual growth rates: Madagascar (+0.8% per year) and Tanzania (-0.7% per year).

The world clove harvested area amounted to 574 thousand ha in 2015, which was 1.2% more than the previous year figure. The clove harvested area indicated a noticeable increase over the period under review, representing a compound annual growth rate of +5.4% from 2007 to 2015. This trend pattern, however, indicated some mild fluctuations over the recent years. Over the period under review, the total clove harvested area peaked in 2015, and is likely to continue its expansion in the immediate term, following rising demand for globally.

The global average clove yield amounted to 3 thousand hg/ha in 2015, rising by 6.6% from the previous year figure. The yield figures recorded an downward trend over the period under review, with a compound annual growth rate standing at -0.1% from 2007 to 2015. However, the yield levels displayed some little fluctuations over the recent years. The highest clove yields were recorded in 2010, when it peaked at 3 thousand hg/ha. Afterwards, it decreased slightly and then fluctuated around these levels throughout the analyzed period.