In 2023, Canada's import of cloves was recorded at 2.1746 million US dollars. The forecasts from 2024 to 2028 indicate a steady increase in the import value, starting at 2.2103 million US dollars in 2024 and reaching 2.349 million US dollars by 2028. The year-on-year growth rates show a consistent rise, suggesting a stable demand for cloves in the Canadian market. The compound annual growth rate (CAGR) over the next five years is projected to be approximately 1.54%.
Future trends to watch for include:
- Potential fluctuations in global clove prices due to changes in major producing countries' outputs.
- Shifts in Canadian consumer preferences potentially affecting clove demand.
- Trade policies and tariff agreements that might impact import costs and volumes.
