Cardamom is scientifically known as Elettaria Cardamomum and its oil is extracted from seeds of cardamom. Cardamom oil finds wide applications in food and beverage industry where it is primarily used as a spice to give a sizzling taste in cuisines and other food products and also to give strong captivating flavor in food products. For medicinal purpose, it is used for relieving muscular spasms, to stimulate the digestive system, and for many other purposes. The demand for cardamom oil in the global market is primarily from Asia-Pacific, Western Europe, and the Middle East and African countries, especially among food and beverage industry, cosmetic and personal care products.
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Cardamom Oil Market: Market Drivers
Key factors influencing the demand for cardamom oil market is increasing demand in food and beverage industry. Food and beverage manufacturers are using cardamom oil in their products to add unique taste and aroma in their products. Increasing demand for cardamom in beverages such as tea and other flavored beverages in the global market are also some of the factors influencing the demand from manufacturers to add cardamom oil as natural ingredient or flavor. On the other side, the demand for cardamom oil is also rising among pharmaceutical industry due to its medicinal properties. Cardamom oil helps to relieve muscular pain, aches, cramps, also applicable in medicines of cold, flu, cough and many other. In cosmetic and personal care products, it has demand in skin and hair care products and in personal care products such as oral care products it is used in mouthwash. Some of the factors prohibit the growth for cardamom oil market in the near future is the cost of production and increasing prices of cardamom seeds in the market. In addition, the availability of substitute oils such as clove oil, ginger oil, etc. is expected become restraint for the growth of market over the forecast period.
Cardamom Oil Market: Market Segment
On the basis of segmentation, cardamom oil market is segmented by type, by application, and by distribution channel. By type, cardamom oil market is segmented into organic and conventional. The demand for organic cardamom oil is mostly among food and beverage manufacturers offering organic food and organic beverages to meet increasing demand for health conscious consumers. Cardamom oil market is also segmented on the basis of application. It includes food, beverages, pharmaceutical and cosmetics and personal care products. On analyzing the demand for cardamom oil by application, it is widely used in food and beverage industry to add flavors, taste, and with unique blend of species in cooking or in preparing food cuisines. In beverage industry, it has wide application in tea and flavored beverages. Further, the demand for cardamom oil is increasing in pharmaceutical products as it helps in digestion, lower blood pressure, relieving symptoms of cold and cough, for alleviating muscle pain and for many other purposes. Further, cardamom oil market is segmented by distribution channel, on the basis of distribution channel it includes wholesaler/distributor, retail stores, online retail and other retail formats.
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Cardamom Oil Market: Regional Segment
On the basis of regional segment, the cardamom oil market is segmented by seven different regions. The regional segment includes North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and the Middle East & Africa. On analyzing the production of cardamom oil in global market, primary demand for cardamom oil in the global market is from Asia-Pacific and Western European countries. In addition, the demand for cardamom oil is also from Middle East and African countries in food preparations.
Cardamom Oil Market: Key Players
Some of the key global players operating in the business of cardamom oil market are Sydney Essential Oil Co., Edens Garden, Synthite Industries Ltd., New Directions Aromatics Inc., Floracopeia Inc., AOS PRODUCTS PRIVATE LIMITED, Hunan Huading Metal Group, Green Fields Oil Factory, Florihana Distillerie and others.