Global Black Seed Oil Market Report and Forecast 2024-2032

Global Black Seed Oil Market Outlook

The global black seed oil market is expected to grow at a CAGR of 2% in the forecast period of 2024-2032.

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Increasing Demand in the Pharmaceutical Industry to Augment the Black Seed Oil Industry Growth

Based on application, the pharmaceutical sector accounts for a significant share in the black seed oil industry. This can be attributed to the increase in demand for medication with natural ingredients, combined with the high rate of diseases such as asthma, allergies, headaches, diabetes, and many others. The health benefits offered by black seed oil are responsible for the market growth. In addition, the rise in evidence with respect to black seed being responsible for reducing the size of tumours in rats is also expected to improve the market growth.

The Asia Pacific Region to Provide Enhanced Growth Opportunities to the Black Seed Oil Industry

Region-wise, the Asia Pacific is expected to witness a robust growth over the forecast period owing to the consumption of black seed in cooking and as a food supplement. Furthermore, countries like China, India, and Korea are expected to significantly contribute to the industry growth due to the growing nutraceutical market in the forecast period.

Black Seed Oil: Market Segmentation

Black seeds are also known as black caraway, kalonji, and black cumin, among others. They are obtained from Nigella sativa, which is a small plant that grows in Eastern Europe, Western Asia, and the Middle East.  A key component of black seed is thymoquinone, a compound with antioxidant properties. Black seed is commonly used as a spice and in herbal medicine. High-quality black seed oil is also used in cooking, baking, and beverages.

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By form, the market is divided into:

• Liquid
• Capsule
• Softgel
• Others

Based on distribution channel, the market is categorised into:

• Hypermarkets/Supermarkets
• Convenience Stores 
• Drug Stores
• Online
• Others

On the basis of application, the market is categorised into:

• Nutraceuticals
• Pharmaceutical 
• Personal Care and Cosmetics 
• Culinary 
• Flavours and Dressing 
• Others 

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rise in Prevalence of Diseases and the Increasing Demand for Natural Ingredients to Bolster the Growth of the Black Seed Oil Industry

With the increasing shift towards sedentary lifestyle, more and more people are getting affected by chronic as well as lifestyle disorders. The rise in prevalence of diseases, combined with the increase in population globally, is likely to increase the demand for medication using natural ingredients, which, in turn, is leading to the growth of the black seed oil industry. Further, the increase in demand for plant-based skincare products has impacted the industry in a positive way. This has led to a significant growth of the black seed oil industry. However, there is still a lack of research regarding many claims such as black seed’s ability to cure cancer. Thus, the growing R&D activities can further propel the industry forward.

Over the forecast period, the growth of the skincare industry and the growing awareness about the benefits of black seed are expected to favour the industry growth. The increasing consumer demand for natural and organic products is expected to be a major trend in the coming years.

Key Industry Players in the Global Black Seed Oil Market

The report gives a detailed analysis of the following key players in the global black seed oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Henry Lamotte Oils GmbH  
• ConnOils LLC  
• The Blessed Seed   
• Organika Health Products Inc. 
• Axpo Pty Ltd  
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report