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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
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.
Cardamom Essential Oil Market Report Snapshots
Cardamom Essential Oil Market Size
Cardamom Essential Oil Market Growth
Cardamom Essential Oil Market Regional Analysis
Cardamom Essential Oil Companies
*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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