Global Cardamom Oil Market to Reach USD 869 Mn, Expects MRFR in Its Comprehensive Research Study Now Available at MarketPublishers.com13 Apr 2017 • by Natalie Aster
LONDON – Manifold benefits of cardamom for health, skin and hair significantly spur the demand for it globally. Moreover, growing popularity of essential oil is another factor boosting cardamom oil sales. By 2021, the sales of cardamom oil are predicted to climb to 4,307 tons, posting a CAGR of 6.74%. In 2021, the global cardamom oil market is likely to hit the USD 869 million mark, growing at a healthy CAGR of 8.31% during 2017-2022.
Rising application of cardamom oil in personal care sector and escalating demand for natural flavoring and coloring agents in food sector are amid the main factors adding to growth in the global cardamom oil. For instance, cardamom oil is also widely adopted in food and beverages sector. Pharmaceutical application of cardamom is gaining traction at a 6.8% CAGR.
Based on types, Elettaria cardamom oil holds the mammoth share of the overall market. In 2016, the elettaria cardamom oil sector contributed about USD 346 million in terms of value.
Country-wise, Guatemala is the major producer of cardamom oil globally. It is projected to amount to 1,374 tons by late 2021. India is also expected to grow at a significant CAGR of almost 8%. By the same year, the Indian cardamom oil market is set to exceed 1,200 tons.
Topical research report “Global Cardamom Oil Market - Trends & Forecast, 2016-2022” elaborated by Market Research Future (MRFR) covers the current scenario in the global cardamom oil marketplace. The report also covers the market size and segmentation on the basis of type, oil and region; and examines the cardamom market dynamics. Besides, the main market growth limiting and driving factors as well as the market growth prospects and opportunities are observed here, too. Moreover, the report includes the review of the historical market trends, technologies and requirements related to cardamom oil market. A reader can also easily find a comprehensive region level market analysis and future outlook for different countries, as well as future forecasts for the market up till 2022. The market competitive landscape is canvassed in the report and the leading participants are profiled here, as well.
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