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The global cardamom essential oil industry is being aided by the growing product demand for various applications like food and beverage, cosmetics, and others. There has been a rise in demand for cardamom essential oil in culinary applications owing to its unique flavour and aroma. This is significantly contributing to the market growth. Based on region, North America is expected to significantly contribute to the industry growth in the forecast period. This can be attributed to the increasing health consciousness among consumers and the rising preference for natural products in the region. Further, several studies have demonstrated the effectiveness of cardamom in improving digestive health and boosting metabolism. This is expected to enhance its demand in the pharmaceutical and healthcare sector, thus, significantly aiding the industry growth.
The growing demand for clean labelled and organic products is leading manufacturers to use natural ingredients like cardamon essential oil in various formulations. This is expected to aid the sales of the product. The expansion of the e-commerce industry and the easy availability of cardamom essential oil through online platforms like Alibaba Group Holding Ltd (NYSE: BABA) and Amazon.com, Inc. (NASDAQ: AMZN) are expected to further propel the market growth in the forecast period.
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The major players in the global cardamom essential oil market are Floracopeia Inc, Young Living Essential Oils, Naissance Trading & Innovation Co Ltd, NOW Health Group, Inc., Florihana Distillerie, and doTERRA International, LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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