Cardamom Oil Market Exhibits Higher Growth Prospects during 2017-2022
Posted by Arslan on March 15th, 2019
The rising awareness of cardamom oil in several end use industries such as cosmetics, personal care, healthcare, food and beverages, etc., has increased the horizon of the adoption of cardamom, and thereby, influenced the growth of the cardamom oil market on a global basis. The emerging use of cardamom oil in pharmaceutical industry, in order to treat muscle spasms, muscle pulls, and other antiseptic and anti-microbial uses, is increasing, and hence, spurring the growth rate of the global cardamom oil market. The major producers of cardamom oils are present in India, Japan, China and few European regions. Europe and United States are considered more of a consumer type region where as countries in Asia Pacific are considered as producer type regions. Fact.MR’s recent research study on cardamom oil market uncovers several aspects which influence the global cardamom oil market and reveals that the global cardamom oil market is expected to grow at a CAGR of 3.8% during the forecasted period of 2017-2022.
Europe More Likely to be the High Growth Market for Cardamom Oil
Among North America, Asia Pacific, MEA and other regions, Europe shows more favorable conditions for the adoption of cardamom oil and can be said to have dominance over other regions. All the market segments of the cardamom oil find lucrative growth paths in the European regions thereby making Europe the hub for cardamom oils. This relatively bigger, consumer-oriented market is more likely to top the list owing to high disposable income of the majority of the population. The European region has a strong end user industry base, to name a few growing industries such as pharmaceuticals, food and beverages, therapeutics and healthcare, cosmetics, etc., in which cardamom oil is used on a large scale.
Several Factors Fuel the Growth Global Cardamom Oil Market
The expected increase in demand for cardamom oil in the healthcare industry is more likely to intensify the growth percentages of cardamom oil market from a global perspective. The adoption of cardamom oil in the pharmaceutical industry to produce drugs used in the treatment of muscle spasms, muscle pulls etc., is rising. This has impacted the overall use of cardamom in this industry in the recent years and with the growing awareness, it seems only more obvious that the adoption rate of cardamom oils in pharmaceuticals and healthcare industries would go even further at a definitely huge growth rate by 2022. Changing lifestyles with rapid urbanization is poised to raise the bar of growth cardamom oil market in the coming years from a global standpoint. The cosmetic industry, as well as personal care products, are more likely to boost the growth of the global cardamom oil market. Moreover, growing cardamom use in the food and beverage industry for adding taste as well as color and fragrance directly influences the growth of the cardamom oil market and it is expected that this industry will contribute more to the growth of the market in the coming years.
Blends Segment in the Form Type to Row at a Higher Pace
The form type segment of the global cardamom oil market is expected to show higher growth rate in the coming years. It is poised to reflect a higher CAGR of 5.0% in the period of forecast, 2017 to 2022. Following blends segment, the runner up is the absolute segment which has moderate growth rate. The concentrates segment is expected to show average growth in the forecast period.
Distribution Channel Analysis
The online segment is poised to show higher growth rate as compared to other distribution channels. The modern trade and franchise outlets seem to have almost equal growth rate however, modern trade still holds higher market share by revenue. This segment, by far, has the highest market share as compared to online segment and specialty stores segment. The online segment is poised to grow with respect to revenue share in the coming years following this huge growth pace, and does have a chance to match the revenue share of franchise outlets.
Competitive Landscape Assessment is Provided in the Report
The research study provides a comprehensive competitive landscape which includes key players in the global cardamom oil market. The companies included in the research study are Green Fields Oil Factory, Plant Therapy Essential Oils, Lionel Hitchen Essential Oils, Aromaaz International, IL Health and Beauty Natural Oils Co. Inc., Aksuvital, Shaanxi Guanjie Technology Co., Natures Natural India, Young Living Essential Oils, Greenleaf Extractions Pvt. Ltd., Biolandes and The Lebermuth Company.
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