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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Cardamom Essential Oil Market Outlook
The global cardamom essential oil market is being aided by the growth of the overall essential oil market, which reached a volume of 239.83 thousand metric tons in 2023. The global essential oil market is further expected to grow at a CAGR of 7.8% in the forecast period of 2024-2032.
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Increasing Product Demand for Various Applications to Aid the Cardamom Essential Oil Industry Growth
Based on application, while the food and beverage industry significantly contributes to the market growth, the pharmaceutical industry is expected to drive the demand for cardamom essential oil over the forecast period. The increase in product demand in the pharmaceutical sector can be attributed to the growing awareness regarding the various health benefits offered by cardamom essential oil. It has therapeutic properties and aids in relieving of spasm, prevents microbial infections, improves digestion, and boosts metabolism, among others. Apart from medical benefits, it is also known for its unique flavour and aroma, and, thus, has various applications in culinary field as well as in cosmetics. Based on nature, the organic segment is expected to dominate the market, owing to the growing awareness regarding the health benefits of organic products.
The Asia Pacific to Provide Significant Growth Opportunities for the Expansion of the Cardamom Essential Oil Industry
The Asia Pacific is expected to account for a significant share in the industry over the forecast period. Within the Asia Pacific, the major cardamom growing countries include India, Sri Lanka, and Vietnam, among others. India is one of the leading producers of cardamom in the world. The growth of the market in the region can be attributed to the easy availability of cardamom essential oil and the rising preference for natural ingredients. The other significant regions for the product include North America and Europe.
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Cardamom Essential Oil: Market Segmentation
Cardamom essential oil is obtained from the seeds of cardamom, also known as Elettaria Cardamomum, through the process of steam distillation. It has a spicy-sweet middle note that blends well with spice oils, citrus oils, wood oils, and many others. It provides various health benefits, is considered an aphrodisiac, and can also be used to improve hair and skin health. Some of its major constituents are sabinene, limonene, terpinene, eugenol, cineol, linalool, nerodilol, heptenone, alpha-terpineol, alpha-pinene, myrcene, and others.
Based on nature, the market is bifurcated into:
- Organic
- Conventional
The different forms of the product include:
- Absolute
- Concentrates
- Blends
The various applications of cardamom essential oil are:
- Food and Beverages
- Cosmetics and Personal Care
- Pharmaceuticals
- Others
Based on distribution channel, the industry can be segmented into:
- Direct
- Indirect
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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Growing Health Awareness and Rising Demand for Natural Products to Boost the Cardamom Essential Oil Industry Growth
The growing health awareness among consumers is leading to a rise in the demand for plant based and natural products, which is pushing the growth of the cardamom essential oil industry forward. This is further supported by the expanding healthcare and pharmaceutical industries, which are one of the major consumers of the product. Other factors like the escalating consumer disposable incomes, growing demand for natural flavouring agents, increasing preference for plant based cosmetic products, and expanding retail sector are significantly contributing to the industry growth. Over the forecast period, the new product launch by the manufacturers and growing R&D activities are expected to boost the sales of the product, thus, further propelling the industry growth.
Key Industry Players in the Global Cardamom Essential Oil Market
The report gives a detailed analysis of the following key players in the global cardamom essential oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Floracopeia Inc
- Young Living Essential Oils
- Naissance Trading & Innovation Co Ltd
- NOW Health Group, Inc.
- Florihana Distillerie
- doTERRA International, LLC
- 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 Nature |
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| Breakup by Form |
|
| 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. |
Cardamom Essential Oil Market Report Snapshots
Cardamom Essential Oil Market Size
Cardamom Essential Oil Market Growth
*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
In 2023, the market attained a volume of 239.83 thousand metric tons.
The market is projected to grow at a CAGR of 7.8% between 2024 and 2032.
The major market drivers include rising disposable incomes, increasing health awareness, the rising preference for natural and organic products, the flourishing pharmaceutical sector, and growing per capita expenditure on food and cosmetic products.
The increasing launches of new products and growing R&D activities by manufacturers are the key trends guiding the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading nature segments of cardamom essential oil in the market are organic and conventional.
The major forms of cardamom essential oil in the market are absolute, concentrates, and blends.
The significant applications of cardamom essential oil are food and beverages, cosmetics and personal care, and pharmaceuticals, among others.
The leading distribution channels in the market are direct and indirect.
The major players in the cardamom essential oil market are Floracopeia Inc, Young Living Essential Oils, Naissance Trading & Innovation Co Ltd, NOW Health Group, Inc., Florihana Distillerie, and doTERRA International, LLC, among others.
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