Cardamom
oil refers to the oil which is extracted from the dry cardamom seeds through a
distillation process which is further used in many applications such as food
processing, pharmaceutical, fragrance in soap and perfumes and others. It is
mostly grown in the Asia-Pacific, North America and Middle East regions.
Cardamom has essential oils such as sabinene, pinene, myrcene and others that
offer a wide range of benefits for skin, hair and health. It is broadly
preferred over other oils for aromatherapy.
Market Size and Forecast
The global
cardamom oil market is expected to grow at a CAGR of 5.3% over the forecast
period i.e. 2017-2024. Further, cardamom
oil market is anticipated to reach USD 7.2 billion globally by 2024. The
growth of cardamom oil market is driven by the increasing
consumer awareness regarding health benefits of cardamom oil. Further, its
heightening application in personal care products is also envisioned to bolster
the growth of cardamom oil market.
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Geographically,
Asia-Pacific has been a leading market for cardamom oil in terms of market
demand and is anticipated to have its dominance over the forecast period. The
major countries witnessing the augmented demand for cardamom oil are India,
Indonesia and Nepal which is expected to bolster the cardamom oil market within
the region over the forecast period. Furthermore, Asia-Pacific is expected to
be the most competitive market, owing to presence of largest production of
cardamom in this region. Moreover, middle class population explosion and rising
awareness among people regarding health are the key factors driving the growth
of cardamom oil market in Asia-Pacific region.
Asia-Pacific
region is expected to be trailed by North America and Europe. North America is
anticipated to maintain second position over the forecast period. Europe market
for cardamom oil is expected to witness robust growth during the forecast
period. Moreover, high demand for the healthcare, personal care products and
cosmetic industry in Europe is anticipated to be the dynamic factors behind the
growth of cardamom oil market. Latin America is expected to show
a robust growth over the forecast period. This region is majorly
dominated by Guatemala. Further, Guatemala is the largest producer of cardamom
in the world.
Market Segmentation
Our
in-depth analysis segmented the global cardamom oil market in the following
segments:
By Type
·
Amomum
Cardamom Oil
·
Elettaria
Cardamom Oil
By Application
·
Cosmetic
and personal care products
·
Medicine
·
Food
and beverages industry
·
Others
By Region
Global
cardamom oil market is further classified on the basis of region as follows:
·
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
·
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
·
Western
and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth
& Opportunity Analysis
·
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, South Korea &Rest
of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
·
Middle
East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Rising
demand for cardamom oil in health care industry is expected to escalate the
growth of cardamom oil market. Further, this can be attributed to the adoption
of cardamom oil in pharmaceutical and healthcare industry to manufacture
medicine which helps in treatment of muscle pulls, muscle spasms and others.
Moreover,
rising urbanization coupled with changing lifestyles is also anticipated to
grow the cardamom oil market globally. Growing demand from the personal care
products and cosmetic industry is also envisioned to bolster the growth of
cardamom oil market. Cardamom oil is used for manufacturing ample range of
cosmetic and personal care products due to various beneficial properties. Apart
from this, growing demand for cardamom oil for food and beverages industry is
also anticipated to garner the growth of global cardamom oil market.
However,
lack of awareness of cardamom oil and their health benefits among the
population are believed to dampen the growth of market.
Key players
The major
key players for cardamom oil market are as follows
·
Aromaaz
international
o Company Overview
o Key Product Offerings
o Business Strategy
o SWOT Analysis
o Financials
·
IL
Health and Beauty Natural Oils
·
Nelixia
·
Green
Field Oil Factory
·
Piping
Rock Health Products
·
Green
Leaf Extraction Pvt Ltd
·
Aksuvital
·
Natures
Natural India
·
Shaanix
Guanjie Technology
Scope and Context
Overview
of the Parent Market
Analyst
View
Segmentation
The global
cardamom oil market is segmented as follows:
·
By
Type Market Size & Y-O-Y Growth Analysis
·
By
Application Market Size & Y-O-Y Growth Analysis
·
By
Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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