From GlobeNewswire: 2024-04-04 06:00:00

The global clove market is projected to grow from USD 4.1 billion in 2023 to USD 6.2 billion by 2033, with a CAGR of 4.22% during the forecast period. Clove is a versatile spice used in consumer products, food & beverages, and healthcare due to its antibacterial and analgesic properties. The market is driven by demand for natural products, but faces challenges from production fluctuations and synthetic alternatives. The powder segment dominates the market, while the food & beverage segment is witnessing significant growth. Online retailing of clove is on the rise, with Asia-Pacific leading the market. Europe is expected to grow the fastest, driven by demand for Asian cuisine. Major vendors include The Kraft Heinz Company, Archer Daniels Midland Company, and more. Recent developments include plans for a new clove oil-extracting factory in Indonesia. Market segmentation includes form, application, and distribution channel analysis across regions. Spherical Insights provides market research and consulting services to help businesses achieve their objectives.



Read more at GlobeNewswire: Global Clove Market Size To Exceed USD 6.2 Billion By 2033