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Global Cardamom Oil Market is Expected to Grow at a CAGR over 6.74% From 2016 to 2022

Global Cardamom Oil Market is Expected to Grow at a CAGR over 6.74% From 2016 to 2022

Market Overview

Cardamom oil is extracted from dried cardamom through the steam distillation procedure which is used in various application such as Food Processing, Pharmaceutical, Fragrance in Soaps and Perfumers etc. The Cardamom Oil extract is comprises various Essential Components like Pinene, Methyl Eugenol, Sabinene, Geraniol, Linalyl Acetate, Myrcene, Nerol, Phellandrene, Citronellol, Linalool, Limonene, A-Terpineol Acetate, 1, 8-Cineole, Terpinene, A-Terpineol, P-Cymene, Terpinen-4-Oil, Terpinolene, and Trans-Nerolidol. The demand for cardamom oil is significantly increasing due to its numerous benefits for Health, Skin, and Hair. It is finds wide application in Aromatherapy.

Market Forecast

Cardamom Oil Market has been growing with increasing Consumer Awareness about Health Benefits of Cardamom Oil and its rising application in Personal Care Products is also supporting the market growth. Increasing popularity of Essential Oil will boost Cardamom Oil sales and by 2021, cardamom oil sales will reach 4,307 tons with CAGR of 6.74%. Indian Cardamom Oil is projected to grow at CAGR of 7.99% during the forecasted period 2016-2021.

By Application Analysis-

Cardamom Oil is made from two genre of cardamom plants i.e. Elettaria and Amomum (Subulatum/ costatum). Elettaria is also known as true cardamom or green cardamom which is mostly grows in India and Guatemala whereas Amomum is known as black cardamom or java cardamom which is mainly found in China and India subcontinent. Depend upon these two types of cardamom plants (i.e. Elettaria and Amomum), cardamom oil is segmented in to Elettaria cardamom oil and Amomum subulatum cardamom oil. Elettaria cardamom oil has the major market share and contributing more than 50% market in the year 2016. The cardamom oil market is driven by factors including rising demand for natural flavoring and coloring agent in food. Increasing demand for various purposes industrial including food and beverages, pharmaceuticals, personal care and home care product manufacturers is fueling cardamom oil market growth. Cardamom oil is majorly used in food and beverages application followed by pharmaceuticals.

Rising popularity of cardamom oil uses in aromatherapy is changing the market dynamics of cardamom oil market. Manufacturers are using various promotional channels to increase awareness about health benefits of cardamom oil to increase customer base which are not aware of cardamom oil benefits.

Regional Analysis

Global Cardamom Oil Market is segmented into America and Asia Pacific along with rest of the world (RoW). Among this Asia Pacific region is dominating the cardamom oil market. In Asia Pacific region cardamom oil market is dominated by India, Indonesia, Nepal and Bhutan. After Asia pacific region Central America is the major producer of cardamom oil and this region is majorly dominated by Guatemala which is also a largest producer of cardamom in the world.

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