In 2023, India's cloves demand was approximately 13.5 thousand metric tons. Forecasts predict a stable demand from 2024 to 2027 with values holding at 14.0 thousand metric tons annually. A slight increase to 15.0 thousand metric tons is projected for 2028, indicating a cumulative average growth rate (CAGR) of 1.06% over these five years.
Future trends to watch for include:
- Impact of evolving consumer preferences influenced by health benefits attributed to cloves.
- Potential shifts in domestic agriculture and import strategies affecting supply dynamics.
- Changes in trade policies that could influence price and accessibility.