The global black seed oil market is anticipated to exhibit significant growth by 2027 owing to the rising awareness of benefits of the product, particularly in medical applications.
Recently, in addition to the multiple medical benefits it offers, the oil has also found a viable application scope in the global fight against COVID-19. Surging research activities to explore black seed oil's role in tackling the COVID-19 infection is also expected to boost market demand in the future.
Thymoquinone (TQ), a key active ingredient found in black seed oil, is known to possess antiviral, anti-inflammatory, antioxidant, immunomodulatory, antimicrobial, and anticoagulant properties.
Studies suggest that it boosts the activity and volume of natural killer cells, lymphocytes, cytokine suppressors, and macrophages. The ingredient has also displayed antiviral potential against several viruses, such as hepatitis C virus, Epstein-Barr virus, human immunodeficiency virus, murine cytomegalovirus, and other coronaviruses.
Notably, a recent study conducted in Egypt has found that TQ also demonstrated substantial antiviral activity against a SARSCoV-2 strain extracted from the patient.
Moreover, molecular docking research has indicated that it could potentially be able to inhibit COVID-19 development by binding to the receptor-binding domain present on the envelop and spike proteins of SARS-CoV-2.
This could help block the virus' entrance into the host cell and impede its pore and ion channel forming activity.
Additionally, TQ has been found to have an inhibitory effect on the coronavirus' proteases, which could prevent viral replication, thereby obstructing the spread of the infection.
It has also exhibited excellent antagonism towards angiotensin-converting enzyme 2 receptors, which enables it to hinder virus uptake in the host cell.
As a result, there is an increase in the significance of black seed oil in medical settings, especially against the ongoing pandemic, which is likely to propel industry expansion through the forecast period.
For extensive analysis, the global black seed oil market has been divided on the basis of form, application, and region.
From the application perspective, the market has further been segmented into personal care & cosmetics (hair care, skin care, and fragrances), nutraceutical (functional foods and food supplement/dietary supplement), pharmaceuticals, culinary, and flavorings & dressings.
The application segment of fragrances is forecast to grow at distinguished CAGR of more than 7.0% through the analysis period. Increasing consumer awareness regarding the importance of personal grooming and rising focus on achieving presentable looks are anticipated to fuel market demand in the coming years.
The flavoring & dressings application segment is expected to garner a valuation of over USD 1.4 million by 2027 and is speculated to grow considerably through the coming years owing to its prevalent usage in bakery products and salads.
In the regional landscape, the LATAM market was valued at over USD 0.60 million in 2020 and is expected to grow at a CAGR of 6.2% through the assessment period.
The MEA market valuation is estimated to surpass USD 6.5 million by 2027, expanding at a significant pace over the forecast timeframe. The Middle East is a key manufacturer for black seed oil, which is expected to fuel regional growth through the analysis period.