Clove Extract Market Plying for Significant Growth by 2025

Posted by shahir on September 28th, 2017

Clove is a flowering bud of a tree Syzygium aromaticum which belongs to the family Myrtaceae. Cloves are native to Asia Pacific, specially belongs to Indonesia, India and several other Asian countries and has been used as a spice from ancient times. Cloves are well known for its therapeutic effects and medicinal uses, along with wide use for culinary purpose in Asian countries. Cloves contain a chemical called eugenol that imparts the taste of cloves. Cloves extract is prepared from cloves and can be used for several purposes such as in tooth pains, personal care products, herbal medications, etc. Clove extract contains anti-oxidants and can be used to treat several types of cancers, although there are not much-proven evidence for the same.

Owing to various health benefits and increasing number of health conscious consumers is expected to fuel the growth of clove extract market. Clove extract has applications in pharmaceutical industries, food and beverages, cosmetics and personal care, dietary supplements, and various other applications, owing to which clove extract market is expected to increase with significant CAGR. Asia pacific accounts for relatively high production of cloves across the globe.

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Clove Extract Market: Segmentation

Clove extract market can be segmented on the basis of form, end-use applications, sales channel, and region.

On the basis of form, Clove extract can be segmented into powder and liquid. Powder segment is extensively used in formulation of dietary supplements.

Clove extract market is segmented on the basis of end-use application into pharmaceuticals, food and beverages, cosmetics and personal care, dietary supplements, and other applications. Other applications include teas, oils, etc.

Clove extract market is further segmented on the basis of sales channel into Direct and retail sales. Direct sales here refers to direct selling of extract as an ingredient to other companies such as food and beverage industries, cosmetics and personal care industries, etc. Retail sales accounts for sales direct to the consumers as an end product. Retail sales is further sub-segmented into drug stores, health specialty stores, online retailers and other retailing formats.

On the regional basis, Clove extract market can be segmented into five key regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa (MEA). Asia Pacific accounts for relatively high production of Cloves.

Clove Extract market: Drivers, Restraints, and Trends

Due to change in the market trend, people are more interested in natural products which will play an important role in fueling the growth of present Clove extract market. Increasing awareness of functional foods and dietary supplements is expected to drive the market over the forecast period. Increasing developing taste for Asian cuisine across the globe is also considered as a driver for growth of clove extract market. Awareness about associated health benefits of Clove extract as a dietary supplement, food ingredient etc. is also expected to drive the sales. Increasing inclination of women and men towards using natural products in cosmetics and personal care is also expected to drive the growth of Clove extract market. Widely known benefits of Clove extract in enhancing immune system, curing respiratory problems, promoting dental health etc. is also expected to be a driving force over the forecast period. The wide use of cloves and clove extract in cigarettes is also expected to fuel the growth of clove extract market.

Excessive usage of Clove extract in concentrated form could be harmful, which could be considered as a restraint. Some individuals possess serious allergy with eugenol when taking too much of extract at once, that is also one of the main restraints. Consumption of healthy food products and dietary supplement is trending across the globe. Consumers are increasingly inclined towards using natural and herbal cosmetic and personal care products

Clove Extract Market: Regional Outlook

On the basis of region, Clove extract market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific accounts for relatively high production of Clove in comparison to other regions.

In terms of consumption, Europe and North America holds the Clove extract market, owing to the reason that people are inclined to use natural products to a great extent. Asia pacific and the Middle East and Africa lags behind in term of consumption. Latin America also holds a significant share in terms of consumption of Clove extract.

Clove Extract Market: Key Players

Some of the prominent manufacturers of Clove extract are Herb Pharm, New way herbs, Sigma-Aldrich Co. LLC, Tharakan and Company, Vidya Herbs Pvt. Ltd., Haldin, Parchem and other regional players.