Press Release

Cardamom Oil Market to Grow with a CAGR of 4.8% Globally through to 2028

Rise in the demand for cardamom oil in the food and beverage, cosmetics, and pharmaceutical industries are driving the global cardamom oil market in the forecast period 2024-2028.

 

According to TechSci Research report, “Global Cardamom Oil Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Cardamom Oil Market stood at USD 178.4 million in 2022 and is anticipated to grow with a CAGR of 4.8% in the forecast period, 2024-2028. One of the major drivers of the cardamom oil market is the growing demand for natural flavors and fragrances in various industries, including food and beverage, cosmetics, and perfumery.

The food and beverage industry is increasingly shifting towards natural ingredients to meet consumer preferences for clean-label products. Cardamom oil is used as a natural flavoring agent in a wide range of products, including baked goods, beverages, and confectionery. Its pleasant aroma and flavor enhance the sensory appeal of these products.

The cardamom oil market is driven by a combination of factors, including the growing demand for natural flavors and fragrances, health and wellness trends, expanding applications in pharmaceuticals, culinary uses, sustainable sourcing and production practices, the rise of e-commerce, and innovation in product formulations. As consumers continue to seek natural and sustainable solutions, the cardamom oil market is likely to see continued growth and diversification in its applications.

Innovation in product formulations is driving the cardamom oil market forward. Manufacturers and producers are continually developing new and innovative products that incorporate cardamom oil. One notable trend is the incorporation of cardamom oil into various consumer goods, such as candles, soaps, and cleaning products. The appealing fragrance of cardamom oil makes it a popular choice for these products, which are often marketed as eco-friendly and natural alternatives.

Additionally, there is a growing interest in cardamom oil-based blends and combinations with other essential oils. These blends are formulated to target specific wellness concerns, such as stress relief, relaxation, or respiratory support. Such innovation in product offerings allows manufacturers to cater to a wider range of consumer preferences.

The distribution and retail landscape for cardamom oil have evolved significantly in recent years, contributing to market growth. Traditional brick-and-mortar stores, as well as e-commerce platforms, have played a crucial role in making cardamom oil accessible to consumers.

 

Browse over 26 market data Figures spread through 184 Pages and an in-depth TOC on "Cardamom Oil Market

 

E-commerce has enabled consumers to easily access a wide range of essential oils, including cardamom oil, from the comfort of their homes. This convenience has boosted sales, especially in regions where cardamom oil may not be readily available in local stores. Furthermore, the expansion of retail chains specializing in natural and organic products has provided additional shelf space for cardamom oil. These stores often cater to health-conscious consumers seeking natural remedies and ingredients, creating a valuable retail channel for cardamom oil products.

The factors such as the high demand for the cardamom oil in health and the cosmetic sector coupled with the increasing awareness regarding good health are the major factors fostering the growth of the cardamom oil market in the forecast period

The Global Cardamom Oil Market is segmented into source type, form type, application, regional distribution, and company.

Based on the application, the food and beverage segment is the largest application segment for cardamom oil, accounting for a significant share of the global market. Cardamom oil is used in a variety of food and beverage products, such as confectionery, bakery products, curries, and beverages.

Based on region, Asia-Pacific region dominates the cardamom oil market and will continue to flourish its trend of dominance during the forecast period as it is the largest cardamom producer also due to the rise of concern towards using cosmetic care products and health care products, the market is supposed to flourish within the region within the above-mentioned forecast period. North America, on the other hand is expected to show lucrative growth due to the widespread demand all over the region.

 

Major companies operating in Global Cardamom Oil Market are:

  • Land O'Lakes, Inc.,
  • Kerry Inc.
  • Novus International
  • Novozymes
  • Lesaffre
  • Lallemand Inc
  • Alltech
  • Adisseo
  • Asahi Group Holding, Ltd.
  • Unique Biotech

 

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“The market for cardamom oil has experienced robust growth in recent years. This growth can be attributed to rising consumer demand for natural and organic products, increasing use of cardamom oil in aromatherapy, personal care, and the food and beverage industry, and a shift towards sustainable farming practices. Additionally, the expansion of e-commerce and digital marketing channels has contributed to the market's expansion by enhancing accessibility and global reach. As consumers continue to prioritize health, wellness, and natural solutions, the cardamom oil market is expected to maintain its upward trajectory in the foreseeable future.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Cardamom Oil Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Source Type (Amomum Cardamom Oil, Elettaria Cardamom Oil), By Form Type (Absolute, Concentrates, Blends), By Application (Food and Beverages, Cosmetics and Personal Care, Pharmaceuticals, Others), By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Cardamom Oil Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Cardamom Oil Market.

 

 

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Techsci Research LLC

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