The global Cardamom Oil market is expected to witness a market value of US$ 188.9 Million in 2023 and is expected to accumulate a market value of US$ 285.1 Million by registering a CAGR of 4.2% in the forecast period 2023 to 2033. The Cardamom Oil market registered a CAGR of 2.6% in the historical period 2018 to 2022. Factors such as the increasing demand in health and cosmetic sector, as well as the increasing awareness regarding good health, are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Cardamom Oil has been flourished. With the increasing awareness of the harmful effects of synthetic chemicals, consumers are shifting towards natural and organic products. Cardamom oil is a natural and organic product, and thus, its demand is expected to increase in the coming years.
Furthermore, the cardamom oil is widely used in the food industry as a flavoring agent. Hence, the growing applications of cardamom oil in the food industry is one of the major factors that is anticipated to escalate the market growth during the forecast period.
Aromatherapy is gaining popularity as an alternative therapy for several ailments, such as stress, anxiety, and insomnia. Cardamom oil is known for its therapeutic properties, and thus, its demand is expected to increase in the aromatherapy industry.
Moreover, the cardamom oil is widely used in the personal care and cosmetics industry due to its antibacterial and antifungal properties. The demand for cardamom oil is expected to increase in this industry due to the rising awareness of personal hygiene.
Additionally, the cardamom oil is known for its health benefits, such as improving digestion, reducing stress, and boosting immunity. With the increasing awareness of the health benefits of cardamom oil, its demand is expected to increase in the forthcoming years.
On the regional end, the Cardamom Oil market in North America is expected to account for the maximum share during the analysis period. Factors such as increasing demand for natural and organic products, and are expected to escalate the regional market growth during the forecast period. Moreover, the United States is one of the major consumers of cardamom oil in the region, due to the increasing demand for natural and organic products in the region.
On the other hand, the Cardamom Oil Market in Europe is witnessing significant growth in recent years. The regional market growth is driven by factors such as the growing population, increasing disposable income, and changing lifestyles. In addition, there is a rising trend of using natural and organic products, which has led to an increased demand for cardamom oil.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Cardamom Oil are expected to create lucrative opportunities for the market growth over the analysis period. For instance,
In August 2021, a company named Aromaaz International announced the launch of a new line of cardamom oil products for use in aromatherapy and personal care.
In May 2021, the Indian government announced the creation of a Cardamom Development Council to promote the growth and development of cardamom farming in the country.
In March 2021, a company named Plant Lipids announced the expansion of its cardamom processing facility in Kerala, India, which is expected to increase the production of cardamom oil.
In September 2020, a company named AOS Products Private Limited announced the launch of a new line of cardamom oil products, including organic and conventional varieties, which are expected to cater to the diverse needs of customers.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 188.9 Million
Projected Market Value in 2033
US$ 285.1 Million
Growth Rate (2023 to 2033)
4.2% CAGR
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Cardamom Oil Market Overview
Cardamom oil market in Asia has been recognized as an established region since long and the market is ever growing there.
However, Arab countries such as Kuwait, Oman and Qatar are now projecting high growth over the forecast period. Not only that, cardamom oil is being exported to Middle East countries where it is mainly being used in coffee preparation and other food applications.
Different Medicinal Properties are Growing Cardamom Oil
Cardamom oil is widely recommended in pharmaceutical industry for treatment of digestive problems by preventing formation of intestinal gas and reducing pain.
It has a relaxing effect on spasmodic colon, which can alleviate muscle sores and thus, can decrease pain threshold limit. Cardamom oil is well established as a cephalic product and can be used for depression and nervous exhaustion.
Medical practitioners use it widely and effectively in nervous system treatments. It can also be used for treatment of respiratory systems. Catarrhal conditions, like chronic bronchitis can be cured using the product, as per research.
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Cardamom Oil Market in US and Canada
US market of cardamom oil is now focusing on co-impact sourcing while partnering with local farmers to maintain sustainability, and highest levels of purity of the product.
This unique approach gives a mutually beneficial and long-term supplier partnership regarding cardamom oil market, while improving skills of rural farmers and growing market environment as well.
Over last few years, Canada is leading to a stronger and healthier economy and creating a stable supply chain. As a result, manufacturers like NOW (family-owned company) are coming up with products, applying steam distilled extraction method from seeds.
Europe Cardamom Oil Market
Cardamom is reputed to be the oldest spices used throughout Europe. Cardamom oil derived from it are most widely used in all over the region. Europe medical care industry uses cardamom oil for treatment of abdominal pain, coughs, sciatica and spasms.
It has been in practice in Unani system of traditional medicine in Europe, as cardamom oil is considered to be a powerful carminative, stimulant, diuretic, and stomachic agent.
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Cardamom Oil Market in Asia Pacific
India is leading the market for sales of cardamom oil in Asia Pacific for much uses as spice and traditional medicine.
Being an important ingredient in East Indian curry powder, cardamom oil has a wide variety of usage in pickles, seasoning and meat sauces. It is also being used as a flavoring ingredient in different cuisines like teas and coffees in Indian market.
Key Suppliers/Providers/Manufacturers of Cardamom Oil
Some of the key manufacturers in cardamom oil market includes
Essential Oils Company
doTERRA
Edens Garden
Miracle Botanicals
Aura Cacia
Simply Earth
Plant Therapy
Piping Rock
Healing Solutions
Timpanogos Essentials
Aromatics International
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments
By Source:
Green cardamom (Small cardamom)
Black cardamom (Large cardamom)
By Source Type:
Outer Shell or Pod
Seeds
By Distribution Channel:
B2B
B2C
Supermarket/Hypermarket
Departmental store
Convenience store
Online retail
Others
By Industry Application:
Health & Wellness
Aromatherapy
Essential Oils
Cold Cough and Flu
Foot Care
FSA and HSA Shop
Health & Wellness Products
Massage
Medicine Cabinet Essentials
Sleep Support
Smoking Cessation
Vitamins & Supplements
Home
Oil Diffusers
Household Supplies
Home Fragrance
Personal Care Industry
Shaving & Beard Care
Hair Care
Bath & Shower
Body & Face Skin Care
Fragrances
Oral Care
Premium Beauty
Pharmaceutical Industry
Food & Beverages
Ready Meal & Mixes
Food Combo
Pickle
Biscuit, Cookie and Rusk
Baking Ingredients
Coffee, Tea and Beverages
Automotive Industry
Others
By Region:
North America
The USA. and Canada
Latin America
Mexico, Brazil, Peru, Chile, Argentina, and others
Western Europe
Germany, The United Kingdom, France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg
Eastern Europe
Poland and Russia
Asia Pacific
China, India, Japan, South Korea, Malaysia, Indonesia, Australia, and New Zealand
