Cardamom Market Size to grow by USD 187.3 million between 2024-2028
According to a research report “ Cardamom Market” by Product (Ingredients, Powder, Liquid extract) Application (Food and beverages, Medical usage, Others) Geography (APAC, Europe, Middle East and Africa, North America, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 187.3 million, at a CAGR of 3.06% during the forecast period. The global cardamom market is experiencing significant growth due to increasing consumer awareness regarding the health benefits associated with the consumption of this aromatic spice. Cardamom, known for its rich flavor and aroma, is now recognized as a valuable addition to promoting digestive health. Its carminative properties effectively reduce bloating, flatulence, and alleviate abdominal discomfort, making it an essential ingredient in the treatment of various gastrointestinal conditions, including constipation, dysentery, acidity, and stomach infections. These health advantages are expected to fuel the demand for cardamom in the food, pharmaceutical, and wellness industries..
Browse market data tables, figures, and in-depth TOC on “Cardamom Market” by Product (Ingredients, Powder, Liquid extract) Application (Food and beverages, Medical usage, Others) Geography (APAC, Europe, Middle East and Africa, North America, South America) Global Forecast to 2028. Download Free Sample
By Product, the Ingredients segment is projected to dominate the market size in 2024
The global cardamom market holds a substantial market share in the ingredients sector, with significant demand originating from countries such as Saudi Arabia, India, Pakistan, Nepal, UAE, Kuwait, Qatar, and Sri Lanka, where cardamom is extensively used as a flavoring in hot beverages like tea and coffee. Additionally, cardamom is a key ingredient in bakery products, including bread, buns, cakes, and confectionery items, across the Asia-Pacific (APAC) and Middle East and Africa (MEA) regions. In India, various cultural cuisines incorporate cardamom as a vital ingredient in both sweet and spicy dishes. Local and regional vendors in APAC cater to this demand by offering a range of sauces and dressings, infused with traditional cardamom flavors, to enhance the authenticity of Indian cuisine.
By Application, Food and beverages segment is expected to hold the largest market size for the year 2024
The cardamom market is experiencing significant growth due to increasing consumer awareness regarding the health benefits associated with the consumption of cardamom products. This trend is further bolstered by the rising usage of cardamom oil and the expanding application scope in developing countries. Cardamom, a versatile spice, is extensively utilized as a flavor enhancer in various hot beverages, including tea and coffee. In Scandinavian countries, it is a primary ingredient in baked goods such as sweet buns, sweetbreads, and cakes. Moreover, the escalating adoption of ground cardamom, cardamom seeds, and cardamom oil in sauces and dressings is anticipated to fuel market expansion during the forecast period.
APAC is forecasted to hold the largest market size by region in 2024
As a seasoned market analyst, I am pleased to provide insights into the current state of the Cardamom market. This commodity, renowned for its distinct aroma and flavor, is experiencing steady growth. Key exporting countries, such as India and Guatemala, are reporting increased production and demand. Global consumption is on the rise, particularly in Asia and the Middle East, driving market expansion. Investors and traders should closely monitor this trending sector for potential opportunities.
The Cardamom Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
Title: Cardamom Market: A Spice of Change in Food and Beverages Amidst External Environmental Changes The Cardamom market is witnessing significant growth in the Food and Beverages industry due to shifting consumer needs trends, external environmental changes, and technology progress. The concentration rate of key players in the market is expanding, with price trends remaining stable. Raw materials analysis reveals that Cardamom, the "Queen of Spices," is primarily sourced from countries like Guatemala, India, and Indonesia. Its unique taste and aroma, reminiscent of oriental bases, orange blossom, cedarwood, ylang labdanum, cinnamon, bergamot, orange, olibanum, and rose, make it an essential ingredient in various dishes and beverages. Cardamom's health benefits, including its diuretic properties, make it a popular ingredient in Ayurvedic medicines for skin-related problems, detoxification, epilepsy, heart failure, and hypertension. The spice's versatility extends beyond food and beverages, as it is also used as a breath freshener. Technological advancements in manufacturing processes have led to increased production efficiency and improved product quality. The market's growth is further fueled by the rising demand for natural and organic food and beverage products. Overall, the Cardamom market is poised for continued growth and innovation.
Market Research Overview
Title: Cardamom Market: Inorganic Growth, Industry Coverage, and Health Advantages The Cardamom market is a significant player in the global spices industry, with a focus on inorganic growth through mergers and acquisitions. This market covers various industry verticals, including the nutritional supplements industry, food and beverages, and the medical industry. Scalability in the Cardamom market is driven by government spending on agriculture and regulations that promote sustainable sourcing methods and organic certifications. Political and social factors, such as consumer needs trends and external environmental changes, also influence market growth. Cardamom, also known as the "Queen of Spices," comes in various types, including Amomum and Elettaria, with Siamese, Mysore, and Malabar being the most popular. These spices are used in various applications, from personal hygiene items and functional foods to Ayurvedic medicines for skin-related problems, detoxification, epilepsy, heart failure, and hypertension. The Cardamom market's health advantages extend to its use as a breath freshener and taste and aroma enhancer in food and beverages. The market's expansion is influenced by price trends and raw materials analysis, with natural ingredients like orange blossom, cedarwood, ylang labdanum, cinnamon, bergamot, orange, and olibanum often used in combination with cardamom. The market's manufacturing process analysis includes concentration rate and technology progress, with a focus on food safety standards and quality. The market's taste and aroma profiles are influenced by the type of cardamom used, with cardamom's unique scent and taste making it a popular choice in oriental bases and various food applications.
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