The global clove extract market size is projected to grow from an estimated USD 1.2 billion in 2018 to USD 2.1 billion by 2028, at a CAGR of 7.4% during the forecast period. The demand for natural and organic ingredients has increased across various industries such as food and beverages, personal care and cosmetics, pharmaceuticals, dietary supplements among others which is one of the major factors driving the growth of this market globally. In addition, increasing demand for natural extracts due to their safety benefits over synthetic additives has been observed across various application industries such as food & beverages and pharmaceuticals which further fuels the growth prospects of this market globally.
Clove extracts act as a natural preservative for food and drinks by preventing spoilage caused by microorganisms, such as moulds and yeast. They also inhibit enzymatic activity which decreases the breakdown of proteins during storage or processing. Cloves have antibacterial and anti-inflammatory properties that help prevent dental caries by reducing the number of oral bacteria present on the teeth surface. They contain antioxidants that neutralize free radicals thereby preventing oxidative stress in the body.
On the basis of Type, the market is segmented into Liquid and Powder.
Liquid clove extract is extracted from the inner bark of the clove tree. The liquid form has been gaining traction in recent times as it offers more benefits than the other two types- less expensive with long term stability against heat and light exposure; easier storage due to lighter weight vis-à-vis liquids; ability to mix better with powders which are difficult to dissolve without adding extra additives such as sugar or honey etc.; can be used in beverages such as coffee, tea, cocoa or soup where high temperatures cannot tolerate oils. The liquid clove extract market is further bifurcated into pure oil type and water-soluble type.
The powder form is cheaper with a long shelf life when exposed to heat and light; it makes storing them much easier. For example, clove extract powders are used as additives or flavors in foodstuffs such as coffee, tea, cocoa or soup where high temperatures cannot tolerate oils. It also adds flavor & aroma due to its natural antiseptic properties which can be beneficial for personal care products like toothpaste & mouthwash. Moreover, clove extract powders have applications in pharmaceutical formulations like cough syrup to help suppress throat irritation due to their anti-inflammatory properties.
On the basis of Application, the market is segmented into Dietary Supplements, Personal Care And Cosmetics, Food & Beverages, and Pharmaceuticals. The industry is expected to observe a positive growth in the coming years owing to increasing demand for personal care products that use clove extract as an additive or flavoring. Dietary Supplement - of which herbal supplements are expected to witness significant growth over the forecast period on account of increased awareness about their benefits among consumers. For example, turmeric contains curcuminoids which have anti-inflammatory properties useful against arthritis inflammation. Moreover, it helps reduce heart disease risk factors due to its antioxidant properties; black pepper with piperine has been observed clinically effective at lowering blood cholesterol levels.
The use of clove extract in Pharmaceuticals is also projected to grow significantly in the coming years, owing to the growing demand for safe alternatives of pain relief drugs. For instance, clove extract has been observed clinically effective at relieving toothache and dental pain due to its analgesic properties. Personal Care And Cosmetics segment is projected to grow significantly in the coming years, owing to the growing demand for cosmetics and personal care products with natural ingredients. Today’s consumers are becoming more health-conscious than ever before; they want their food intake as well as their skincare and hair regimens, to be healthy-not harmful to them. They also prefer foods that have been “cleaner” or closer to what nature intended it to be like. Hence, the global Clove Extract market has experienced significant growth over the past couple of decades because people are paying attention not only to how they feel but also to how they look and taste things around them. With this changing lifestyle trend, there will surely be an increased need for safe alternatives to chemical-laden products.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Over the forecast period of 2018-2028; dense population coupled with rising in per capita GDP along with increasing disposable incomes will drive market growth in developing countries such as India and China whereas developed economies like the US and Canada would witness a decline owing to saturation of consumer base over time resulting into limited growth opportunities for manufacturers. The global clove extract market is expected to grow at an increasing rate over the next eight years from 2021 till 2028 due to rising demand amid stringent regulations against potentially toxic chemicals entering food chains. The European region has been found to be one of the most popular regions among all others when it comes to intake which can be attributed largely because they are getting more health-conscious and are willing to experience new flavors.
Up Market Research published a new report titled “Clove Extract Market research report which is segmented by Types (Liquid, Powder), By Applications (Dietary Supplements, Personal Care And Cosmetics, Food & Beverages, Pharmaceuticals), By Players/Companies Saipro Biotech, ROYAL SPICES, True Ceylon Spices, Lankan Flavour, Aroma Aromatics & Flavours, Super Africa Products, PTC Agro (PVT), Wee Kiat Development, Manohar Botanical Extracts, NOW Foods”.
|Report Attributes||Report Details|
|Report Title||Clove Extract Market Research Report|
|By Type||Liquid, Powder|
|By Application||Dietary Supplements, Personal Care And Cosmetics, Food & Beverages, Pharmaceuticals|
|By Companies||Saipro Biotech, ROYAL SPICES, True Ceylon Spices, Lankan Flavour, Aroma Aromatics & Flavours, Super Africa Products, PTC Agro (PVT), Wee Kiat Development, Manohar Botanical Extracts, NOW Foods|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||214|
|Number of Tables & Figures||150|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Liquid, Powder and By Application Dietary Supplements, Personal Care And Cosmetics, Food & Beverages, Pharmaceuticals.
Some of the companies that are profiled in this report are:
Clove Extract Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Clove Extract Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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