The history of Indian spices dates back to the beginning of human civilization. Spices were inducements to romance, voyages, war, and expeditions. Cardamom has been used since ancient times as medicine and in cooking. It has a fascinating long history dating back about 3,000 years B.C. during the Vedic period. Spices in those days were known to be symbols of luxury and royalty. It was used in manufacturing perfumes during Roman and Greek times. Cardamom is very well known as a spice for its flavor and woody aroma. This property of cardamom makes it applicable for a wide range of applications in the market.
Cardamom essential oil is extracted from the dried seeds of cardamom through hydro distillation, which produces 4–8% of the essential cardamom oil. Nowadays, the CO2 extraction method of essential oils seems to be more in demand, as this is another interesting process used in the extraction of cardamom oil. Cardamom oil consists of advantageous properties such as being antiseptic, antimicrobial, boosting digestion, used in aromatherapy, relieving muscle spasms, and aiding proper digestion. These factors have led to a high demand for cardamom oil in the market.
Based on applications, the global cardamom oil market is segmented into bakery & confectionery, food & beverages, personal care products, medicines, cosmetics, dairy products, and others. Medicines accounted for the majority of the global cardamom oil market due to their beneficial properties. Cosmetics followed medicine application in terms of demand and accounted as the second largest application segment of the global cardamom oil market in 2015. Other applications of cardamom oil, such as bakery & confectionery, food & beverages, dairy products, and personal care products, are also projected to boost high demand for cardamom oil during the forecast period from 2016 to 2022.
The cardamom oil market was valued at US$ 4,655.1 million in 2015 and is expected to reach US$ 6,232.4 million by 2022, growing at a CAGR of 4.3% during the forecast period of 2016–2022.
Purpose of the Report
The purpose of this strategic research study titled "Global Cardamom Oil Market: Growth, Share, Opportunities, and Competitive Analysis, 2015–2022" is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global cardamom oil market.
Target Audience
Industry Investors
Cardamom Oil Providers and Vendors
Research Professionals
Emerging Companies
Raw Material Suppliers and Buyers
Product Suppliers and Buyers
Research Institutes
Overall, the research study provides a holistic view of the global cardamom oil market in terms of growth, offering market size and estimates for the period from 2016 to 2022, keeping in mind the above-mentioned factors.
On the basis of its application, the cardamom oil market is categorized into the following segments:
Bakery and Confectionary
Food & Beverages
Personal care products
Medicines
Cosmetics
Dairy Products
Others (air fresheners, etc.)
Based on applications, the global cardamom oil market was segmented into bakery & confectionary, food & beverages, personal care products, medicines, cosmetics, dairy products, and others. Among these, medicine applications accounted for a major share of the global cardamom oil market in 2015 and are expected to retain their position in the near future. The beneficial properties of cardamom oil are the major factor driving the growth of cardamom oil worldwide. The advantageous properties of cardamom oil, such as its antibacterial, antispasmodic, and antifungal properties, among others, have attracted the attention of major pharmaceutical industries. Cardamom oil is now used in the manufacturing of a wide range of pharmaceutical drugs and ointments that help in the treatment of muscle pulls and muscle spasms. Hence, high demand is reported for cardamom oil from the pharmaceutical industry worldwide.
Growing demand for cardamom oil from the cosmetic industry is another factor promoting the growth of global cardamom oil in the market. Varieties of cosmetics are manufactured using cardamom oil due to its antibacterial property. Cosmetics accounted for the second largest application of the global cardamom oil market in 2015. Personal care products followed cosmetics in terms of demand for cardamom oil and are expected to boost the high market growth in the near future. Other applications, which include bakery and confectionery, food and beverage, and dairy products, are also expected to boost the high demand for cardamom oil during the forecast period from 2016 to 2022.
On the basis of geography, the global cardamom oil market is segmented into the following categories:
North America
U.S.
Canada
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia Pacific
Latin America
Mexico
Brazil
rest of Latin America
Middle East and Africa
UAE
Israel
Rest of the Middle East and Africa
Europe accounted for the largest share of the global cardamom oil market in 2015. It accounted for more than 29.0% of the global cardamom oil market in 2015 and is expected to increase in the near future. High demand for cardamom oil from the healthcare industry, personal care products, cosmetics, and related segments in Europe has led to the high growth of global cardamom oil in the region. Middle East & Africa accounted for the second-largest market for cardamom oil in 2015, as the major producers of cardamom belong to Guatemala.
Asia-Pacific followed the Middle East and Africa in terms of demand for cardamom oil. Increasing demand for cardamom oil from the food and beverage industry in the region is expected to boost the demand for cardamom oil in the market. The use of spices in India is well known, and hence, high demand is expected from the food sector in the region for cardamom oil as a flavoring agent for various delicacies. Other regions, such as Latin America and North America, are also projected to boost the high demand for cardamom oil during the forecast period from 2016 to 2022.
Frequently Asked Questions:
The market for Cardamom Oil Market is expected to reach US$ 6,232.4 Bn By 2022.
The Cardamom Oil Market is expected to see significant CAGR growth over the coming years, at 4.3%.
The report is forecasted from 2016 to 2022.
The base year of this report is 2015.
Biolandes 77, The Lebermuth Company 78, H. Reynaud & Fils (HRF) 79, Moksha Lifestyle Products 80, Young Living Essential Oils, LC 81, dōTERRA 82 are some of the major players in the global market.
