Introduction-Cardamom oil is extracted from dried cardamom through the steam distillation procedure which is used in various application such as food processing, pharmaceutical, fragrance in soaps and perfumers etc. The cardamom oil extract is comprises various essential components like pinene, methyl eugenol, sabinene, geraniol, linalyl acetate, myrcene, nerol, phellandrene, citronellol, linalool, limonene, a-terpineol acetate, 1, 8-cineole, terpinene, a-terpineol, p-cymene, terpinen-4-oil, terpinolene, and trans-nerolidol. The demand for cardamom oil is significantly increasing due to its numerous benefits for health, skin, and hair. It is finds wide application in aromatherapy.
Cardamom oil market has been growing with increasing consumer awareness about health benefits of cardamom oil and its rising application in personal care products is also supporting the market growth. Increasing popularity of essential oil will boost cardamom oil sales and by 2021, cardamom oil sales will reach 4307 tons with CAGR of 6.74%.Gautemala is largest producer of cardamom oil and it is estimated that cardamom oil market will reach 1374 tons by the end of 2021. After Guatemala, India is the major producer of cardamom oil and by end of 2021 the cardamom oil market in India will reach at 1213 tons with CAGR of 7.99% which show cardamom oil market is growing faster in India compare to Guatemala.
Cardamom oil is made from two genre of cardamom plants i.e. Elettaria and Amomum (Subulatum/ costatum). Elettaria is also known as true cardamom or green cardamom which is mostly grows in India and Guatemala whereas Amomum is known as black cardamom or java cardamom which is mainly found in China and India subcontinent. Depend upon these two types of cardamom plants (i.e. Elettaria and Amomum), cardamom oil is segmented in to Elettaria cardamom oil and Amomum subulatum cardamom oil. Elettaria cardamom oil has the major market share and contributing more than 50% market share with 346 USD Million market value in 2016.
The cardamom oil market is driven by factors including rising demand for natural flavoring and coloring agent in food. Increasing demand from various downstream markets including food and beverages, pharmaceuticals, personal care and home care product manufacturers is fueling cardamom oil market growth. Cardamom oil is majorly used in food and beverages application and it will reach at 1720 tons in 2021. Pharmaceutical application of cardamom oil is growing faster than other application with CAGR of 6.8%.
The leading market players in the global cardamom oil market primarily are Nelixia, Green Fields Oil Factory, Shiv Sales Corporation, Aromaaz Internationa, IL Health & Beauty Natural Oils Co., Inc., Aksuvital, Shaanxi Guanjie Technology Co., Ltd, Natures Natural India, Piping Rock Health Products Llc and Greenleaf Extractions Pvt Ltd
Study Objectives of Cardamom Oil Market Forecast to 2022
- Detailed analysis for individual micro and macro markets for cardamom oil
- To estimate market size by type, by application and region
- To understand the supply and demand dynamics of cardamom oil
- To provide region level market analysis and future outlook for U.S., Europe, China, Japan, and South-East Asia
- Company profiling of major players & competitive positioning for the cardamom oil market
- Value chain analysis and supply chain analysis of cardamom oil
- Analysis of historical market trends, and technologies, and current government regulatory requirements related to cardamom oil market
- Food and beverages Manufacturers
- Pharmaceutical Industry
- Cardamom Oil manufactures
- Personal care products manufacturers
- Sauces & Dips Manufacturers
- Traders, Importers and exporters
- The global cardamom oil market is projected to USD 869 million by 2021.
- In 2016, Elettaria Cardamom Oil accounts for the highest share and grow at rate of 6.72%
- Cardamom oil is majorly used for food and beverages application and it accounts more than 40% market share in 2016
Regional and Country Analysis of Cardamom Oil Market Development and Demand Forecast to 2022 Market
As per the MRFR analysis, the global Cardamom Oil market is poised to reach 869 USD Million in 2021, to grow at a CAGR of around 8.31% during the forecasted period.
The reports also cover country level analysis:
- Asia – Pacific