Cardamom Extract Market Introduction:
Cardamom is one of the traditional spice which is derived from the seed of cardamom plant. It is a native spice from the northern part of India, Bhutan, and Nepal. The extract produced from cardamom seed which is rich in aromatic flavors, widely used in the form of powder for application in the food and beverage industry. Cardamom is one of the most expensive spices, ranking third, followed by saffron and vanilla. Cardamom extract provides health benefits include relief from gastrointestinal problems, cholesterol control, and the improvement of blood circulation. It is useful in dental disorders and urinary tract infections. Increasing awareness of cardamom extract for its health benefits and consumer preference for various application in the food industry drives an increase in demand in the global market.
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Cardamom Extract Market Segmentation:
Cardamom Extract Market is segmented on the basis of product form, type, application, and distribution channels.
On the basis of product form, cardamom extract market segments include oil and powder. Among both, oil segment holds the major share and is expected to register a growth during the forecasted period. Cardamom extract is widely used in the food industry as a flavoring agent. Cardamom extract has been closely tied with application in bakery and confectionery industry and is expected to fuel the market over the forecasted period.
On the basis of product type, cardamom extract market segments include green cardamom and black cardamom. Among both, green cardamom segment holds the major share and is expected to register a growth during the forecasted period.
On the basis of application, cardamom extract market segments include food and beverages, medicinal and cosmetics. Among all of these, food and beverages segment holds the major share and is expected to register a steady growth over the forecasted period. Further, the market of food industry can be sub-segmented into various application include; as an ingredient and taste enhancer. Also, the beverage industry is sub-segmented into tea, juices and canned beverages.
On the basis of distribution channels, it is segmented into direct selling, distributors, wholesalers, and online. Among these, the online is expected to gain major revenue shares over the forecast period.
Cardamom Extract Market Regional Outlook:
On the basis of regions, cardamom extract market is segmented into following key regions; North America, Latin America, Eastern Europe and Western Europe, Asia Pacific & Japan, and The Middle East and Africa.
Among all of these, Asia Pacific grabs the major share of global cardamom extract market. India is one of the major supplier of cardamom extract. Consumption of cardamom extract from these regions for application in the food industry is high in global market and it is expected to grow at a steady rate. Followed by North America and Europe and is expected to register a moderate growth over the forecasted period.
Cardamom Extract Market Dynamics:
Cardamom extract has various application in the food industry as an ingredient and flavoring agent. Hence, it is one of the key drivers for a high demand in global market. Also, cardamom extract is gaining its demand from the cosmetic Industry. Increasing awareness regarding medicinal benefits and widely used as flavoring agent of cardamom extract is expected to drive an increase in demand in the global market. The aromatic flavors of cardamom extract is expected to drive an increase in demand for mouth freshener and chewing gum industry.
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Cardamom Extract Market Key Players:
Some of the key players participating the global cardamom extract market include Mountain rose herbs Inc., do TERRA Holdings LLC, Keya Foods International Pvt. Ltd., Nelixia S.A., and Monterey bay spice company Inc. The companies are expected to expand their business by enhancing their product portfolio in global cardamom extract market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global cardamom extract market till 2027.