The new report by Expert Market Research titled, ‘Global Cardamom Essential Oil Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global cardamom essential oil market, assessing the market based on its segments like nature, form, application, distribution channel and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2023-2028)
- Historical Market Size (2020): 191.45 thousand metric tons (Global Essential Oil Market)
- Forecast CAGR (2023-2028): 7.8% (Global Essential Oil Market)
The growing health awareness among customers is the key driver for the growth of the cardamom essential oil market. Additionally, the product demand is driven by the growing pharmaceutical and healthcare industry. The shift of the masses towards plant-based products is also a contributing factor for the growth of the market. Moreover, increasing disposable income, increasing demand for natural ingredients, and the expanding utility of cardamom oil in the food, medicine and cosmetic industry is further expected to push the market growth further.
Industry Definition and Major Segments
Cardamom essential oil is obtained by the process of steam distillation for the cardamom seeds. It blends well with other oils such as spice oils, citrus oils, wood oils, and others. It has a spicy-sweet fragrance. Some of its major constituents are sabinene, limonene, terpinene, eugenol, cineol, linalool, nerolidol, heptanone, alpha-terpineol, alpha-pinene, myrcene, and others. It has various health benefits, improves hair and skin, and is also known to have aphrodisiac properties.
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By nature, the market is divided into:
The various forms of cardamom essential oil include:
The major applications of the productare:
- Food and Beverages
- Cosmetics and Personal Care
On the basis of distribution channel, the industry is divided into:
The regional markets for cardamom essential oil include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Regionally, the Asia Pacific region is projected to have the largest share in the global cardamom essential oil market. This is attributed to the region being the largest consumer of cardamom. Latin America is also expected to show a significant growth due to it being the largest producer globally. Further, North America and Europe are expected to show a strong demand due to the utilisation of cardamom essential oil in bakery and other culinary products. The demand for cardamom essential oil in aromatherapy is also expected to push the growth of the market further during the forecast period.
Key Market Players
The major players in the market are Floracopeia Inc, Young Living Essential Oils, Naissance Trading & Innovation Co Ltd, NOW Health Group Inc, Florihana Distillerie, doTERRA International LLC, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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