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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Form |
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| Breakup by Distribution Channel |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 2% between 2024 and 2032.
The major drivers of the market include the increase in population, increase in demand for plant-based skincare products, growing awareness about the benefits of black seed, growing nutraceutical market, and consumption of black seed in cooking and as a food supplement.
The rise in prevalence of diseases and the increase in the demand for medication using natural ingredients are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The forms of black seed oils are liquid, capsule, and soft gel, among others.
Based on distribution channel, the market is categorised into hypermarkets/supermarkets, convenience stores, drug stores, and online, among others.
Black seed oils find their major application in nutraceuticals, pharmaceutical, personal care and cosmetics, culinary, and flavours and dressing, among others.
The major players in the industry are Henry Lamotte Oils GmbH, ConnOils LLC, The Blessed Seed, Organika Health Products Inc., and Axpo Pty Ltd, among others.
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