The increased usage of cloves as an ingredient is one of the key factors expected to drive the market’s growth in the forthcoming years. Cloves act a multipurpose spice, applicable in several industries including the food and beverage, personal care, and cosmetics industry. Cloves also contain manganese, magnesium, potassium, iron, and selenium, which further makes them useful for the treatment of cough, constipation, cold, indigestion, and control blood pressure. In addition, clove oil is used as an instant toothache healer. As a result, the growing applications of clove are further expected to boost its adoption across several end-user industries, resulting in the market to register a CAGR of close to 5% during the forecast period.
The rising preference for organic cloves is one of the key factors expected to gain traction in the market. The growing concern of pesticide content in conventional food items has encouraged the demand for organic food. As a result, urban inhabitants having a higher disposable income are preferring highly-priced organic cloves over normal cloves. In addition, vendors are introducing organic cloves and clove oil to meet the rising demand from health-conscious consumers, in turn, boosting the clove market growth.
Top clove companies covered in this market research report
The clove market is moderately fragmented with the companies focusing on launching diverse types of cloves, catering to the evolving end-user requirements. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this clove industry analysis report is designed to help clients in assessing the market potential and forming effective business strategies to strengthen their position in the market.
The report offers a complete analysis of various companies including:
McCormick & Company
Clove market segmentation based on geographic regions
The APAC region will account for the highest clove market share throughout the forecast period. The region will continue to dominate the growth in the market owing to the growing consumption of cloves in the emerging economies including India and China.
Clove market segmentation based on product
The whole clove segment will account for the highest share in the market, owing to its increased consumption as an ingredient in various dishes. Additionally, the report will provide an accurate prediction of the contribution of the various products segments to the growth of the clove market size.
Key highlights of the global clove market for the forecast years 2019-2023:
CAGR of the market during the forecast period 2019-2023
Detailed information on factors that will accelerate the growth of the clove market during the next five years
Precise estimation of the global clove market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the clove industry across the Americas, APAC, and EMEA
A thorough analysis of the market’s competitive landscape and detailed information on several vendors
Comprehensive details on the factors that will challenge the growth of the clove companies
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