The Cardamom Extract Market Size is forecast to grow at a CAGR of 3.2% from 2021-2028, with the market expected to reach USD 1.87 billion in 2028. The green cardamom segment is estimated to be dominant in terms of both revenue generation and volume share by 2028. The Asia Pacific is projected to witness a significant growth rate over the forecast period owing to its increasing population base and improving economic conditions.
Cardamom extract is the essential oil derived from cardamom seeds. The green and black varieties of this spice are sometimes used for culinary purposes, as well as in herbal medicine and cosmetics. Cardamom extracts can also be found in food products such as cereals, biscuits, cakes, ice creams, and chewing gums.
On the basis of Types, the market is segmented into green cardamom, black cardamom.
Green cardamom is a variation of the species Elettaria cardamomum. It has an intense, slightly smoky flavor and aroma, with a peppery or citrus-like undertone that complements sweet flavors such as cinnamon and sugar in baking applications.
Cardamom is a plant that grows in the tropics. It has a seed pod, from which cardamom powder and oil are extracted. Black cardamoms are grown on plants with black pods, while green cardamoms have light-colored pods. Cardamoms typically grow best at high altitudes such as India or Nepal. The two types of cardamon can be found in stores across North America, Europe, Asia Pacific (APAC), Africa, and Latin America.
On the basis of Application, the market is segmented into Food and Beverages, Medicinal, and Cosmetics.
Cardamom extract is used in food and beverages for its aromatic flavor. It can be found in various food items like curry, coffee, soda drinks, tea, etc. Cardamom extract delivers a refreshing aroma to the dish or drinks it has been added to.
Cardamom extract is used in medicinal applications due to its antibacterial, antioxidant, and anti-inflammatory properties. Medicinal products that may contain cardamom extracts include multivitamins, analgesics, and toothpaste.
The use of cardamom extract in cosmetics is on the rise. This trend can be attributed to its antioxidant and skin-friendly properties, which help protect human skin against harmful UV rays from the sun. It also has anti-inflammatory effects that calm redness, irritation, and promote healing for sensitive skin types while giving an overall natural glow to your complexion. Furthermore, it helps reduce excessive oil production with its astringent effect, soothes insect bites and other burns, as well as repels mosquitoes.
On the basis of Region, the market is segmented into North America, Asia Pacific, Latin America, and Europe. In the North American region, the use of cardamom extract is high in the food & beverages application segment. This usage can be attributed to its flavoring properties that give a wonderful taste to various dishes such as Indian curries or other Asian cuisines.
In Europe, the market is driven by a number of players in cardamom extract manufacturing who have been following an aggressive marketing strategy to expand their business globally. France leads with 29% share followed closely by Germany at 27%.
The Middle East & Africa has high usage rates for cardamom extracts as well which can be primarily attributed to its medicinal or cosmetics application segment where it finds applications as skincare ingredients due to its anti-inflammatory properties that reduce redness, irritation and promote healing for sensitive skin types while giving an aesthetically pleasing feeling.
The cardamom extract market is driven by a number of factors, starting from the growing inclination towards health and wellness to an increase in disposable income. The rising demand for spices has also contributed significantly to the growth of this market. Moreover, with people becoming more aware of various flavors available on food ingredients as well as medicinal purposes, there has been rapid adoption of spice usage across age groups which is boosting up the global cardamom extract industry. Apart from these key drivers, other ones include population growth and changing lifestyles that have led to higher consumption rates for spices such as cumin seeds and coriander powder among others globally. Some regional markets like Brazil & Argentina offer significant opportunities owing to high adoption levels even though they hold low shares overall.
Up Market Research published a new report titled “Cardamom Extract Market research report which is segmented by Types (Green Cardamom, Black Cardamom), By Applications (Food And Beverages, Medicinal And Cosmetics, Others), By Players/Companies Mountain Rose Herbs, Do TERRA Holdings, Keya Foods International, Nelixia, Monterey Bay Spice”.
Report Attributes | Report Details |
Report Title | Cardamom Extract Market Research Report |
By Type | Green Cardamom, Black Cardamom |
By Application | Food And Beverages, Medicinal And Cosmetics, Others |
By Companies | Mountain Rose Herbs, Do TERRA Holdings, Keya Foods International, Nelixia, Monterey Bay Spice |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 243 |
Number of Tables & Figures | 171 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Green Cardamom, Black Cardamom and By Application Food And Beverages, Medicinal And Cosmetics, Others.
Some of the companies that are profiled in this report are:
Cardamom Extract Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Cardamom Extract Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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