The global clove essential oil market was valued at US$145.455 million in 2019, and is expected to grow at a good CAGR over the forecast period. Cloves are essentially high in manganese along with other nutrients such as calcium, potassium, and magnesium. Owing to its nutritional content, clove essential oil is widely used in flavoring across food and beverage sector and aromatherapy as well.
Rising awareness of benefits of clove oil is also increasing its popularity among consumers. Clove oil is used in aromatherapy as it reduces anxiety and depression while speeding up the healing process. People shifting towards healthy lifestyle and dietary patterns is boosting the demand for clove essential oil for both aromatherapy and food & beverage applications, thereby propelling the global clove essential oil market growth. Growing popularity of aromatherapy is another factor that will continue to drive up the demand for clove essential oil throughout the forecast period. Stringent regulations regarding food additives and preservatives across different regions is further encouraging the use of various types of natural essential oils, including clove, in different food products. Moreover, people are also getting more aware about the harmful impact of synthetic flavors and essence in food and beverage items which is further pressurizing food & beverage manufacturers to switch to natural ingredients, thus spurring the clove essential oil market growth. Due to its ever-increasing demand across fragrance and food and beverage industry, the clove essential oil market is witnessing a significant growth.
The demand for clove essential oil across the world is also rising owing to expanding applications of essential oils. Clove oil also offers other benefits, ranging from anti-inflammatory for oral infections to curing acne and toothaches. As such, its demand across pharmaceutical and cosmetics & toiletries industry is increasing continuously, which in turn, is fueling the growth of the global clove essential oil market.
Another factor that is supporting the production side of clove essential oil is government support for clove tree farmers across Africa and Indonesia. Governments in these countries are increasingly introducing initiatives to support clove production in the region. For instance, the government of the Republic of Tanzania implemented measures to ramp up the clove production through policy reforms and amendments. In March 2017, the government of Indonesia formed a farmer’s learning group in the Buol district of Sulawesi. This group facilitates the sharing of information among farmers about efficient and best farming techniques. Technological advancements in oil extraction methods is also expanding applications of clove essential oil while reducing the production cost for the manufacturer and increasing the overall production volume. Market players are adopting various growth strategies and focusing on expanding their product portfolio and offerings through direct selling channels.
Global clove essential oil market has been segmented on the basis of product, application, distribution channel, and geography. On the basis of the product, the market has been segmented as absolute, blends, and others. On the basis of application, the market segmentation has been done as cosmetics & toiletries, pharmaceuticals, food & beverage, and others. The global clove essential oil market has also been classified by distribution channel as online and offline.
Online distribution channel is getting more convenient for consumers
Online distribution channel segment is projected to witness a higher CAGR during the forecast period. This growth is primarily attributed to the booming e-commerce industry across the globe. With online retail stores, people can compare and buy global brands of clove essential oils. Moreover, consumers usually get some discount or coupons while making purchase online which is further attracting customers towards this distribution channel. High penetration of smartphones and better internet connectivity has also significantly contributed to the growth of this segment during the forecast period.
By geography, North America accounts for a noteworthy share in the global clove essential oil market
Geographically, the global clove essential oil market is classified into five major regional markets- North America, South America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC). North America accounted for the significant share in the global clove essential oil market in 2019. Growing popularity of clove oil as a key ingredient in cosmetics and toiletries owing to its benefits is augmenting its demand across cosmetic and toiletries manufacturers in countries like the United States and Canada. Increasing demand for clove essential oil for aromatherapy is also a key driver of the North American clove essential oil market. Asia Pacific (APAC), however, will witness a noteworthy CAGR during the forecast period. Growing travel and tourism industry in the region is one of the major factors behind this growth. With increasing number of both international and domestic tourists, and corresponding rise in demand for spa services, there has been a continuous rise in the demand for clove essential oil in countries like India, Thailand, and Malaysia. Increasing use of clove essential oil for skin problems and oral hygiene is also escalating its demand across skin care and oral care manufacturers across the region, thus bolstering the regional market growth. Middle East and Africa (MEA) and South America clove essential oil market will also grow at a decent CAGR on account of increasing number of tourists in countries like Saudi Arabia, UAE, and Brazil.
Market Players and Competitive Intelligence
Prominent key market players in the global Clove essential oil market include Young Living Essential Oils, d?TERRA, Lebermuth, Inc., Citrus and Allied Essences Ltd, Cedarome, Rocky Mountain Oils, LLC, Frontier Co-op, MOUNTAIN ROSE HERBS, PLANT THERAPY ESSENTIAL OILS, NOW® Foods, Edens Garden, Falcon, Biolandes, and Frutarom Ltd. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global Clove essential oil market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.