LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Cloves Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the agro commodities and raw materials industry. This report breaks down the data and analysis behind the procurement of cloves and acts as an all-inclusive guide for making smart purchasing decisions.
“The global cloves market majorly experiences demand from the use of cloves in food products and beverages, ayurvedic and herbal medicinal products, and personal care products,” says SpendEdge procurement analyst A Kowshik. “Also, the increased preference for natural and herbal products among consumers has led to the growth of the cloves market especially in regions such as North America and Europe,” added Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Cloves Market:
- The rise in import of cloves to developed regions
- Growing preference for branded cloves
- Increase in the use of steam sterilization technology in production process
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The rise in import of cloves to developed regions:
The global cloves market is experiencing a surge in import of cloves to developed regions such as the EU. Despite the economic recession and increase in commodity prices in EU, the import of cloves has continued to grow. This is because cloves are an important ingredient that contribute little to the total cost of the food in which they are used. Thus, the demand is relatively inelastic to state of the economy. Moreover, the rise in import also helps to ensure provision of important food ingredients such as cloves even in unstable economic conditions
Growing preference for branded cloves:
Globally, the consumers are gradually shifting from unbranded packets toward branded and packaged products. This is because branded and packaged products validate the authenticity of the spice, where labels communicate essential information about the ingredients used. Labeling of food items has majorly influenced the purchasing decisions of health-conscious consumers. Moreover, the shift toward branded cloves will enable buyers to offer a broad portfolio of spices to end-consumers.
The increase in the use of steam sterilization technology in the production process:
Suppliers in this market space are increasingly focusing on utilizing decontamination methods, such as steam sterilization, to produce quality cloves. Steam sterilization is a simple decontamination method where ingredients are exposed to saturated steam at high temperatures. The adoption of sterilization technologies also helps in ensuring the availability of quality and contaminant-free cloves to buyers.
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