A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global cardamom oil market. Presenting exclusive insights into the market from 2017 to 2022, the report projects that the market will witness notable growth during the forecast period. Cardamom oil is extracted from dried cardamom, a spice made from seeds of several plants, through the steam distillation procedure, and is used in various applications such as food processing, pharmaceutical, production of soaps and perfumes, etc. The growth of the market is primarily attributed to the numerous health benefits and adoption in pharmaceutical and cosmetic industries. Moreover, cardamom oil is used as a spice in the preparation of various food products, on the back of the strong and tasty flavor it bestows to the food products.
Presence of Essential Components Boosts Adoption in Pharmaceuticals and Cosmetics Industries
Cardamom oil finds significant applications in healthcare and pharmaceutical industries owing to the strong presence of essential components such as pinene, methyl eugenol, sabinene, geraniol, vinyl acetate, myrcene, nerol, phellandrene, citronellol, linalool, and a-terpineol acetate, among others. On the back of this factor, cardamom oil is being used in the production of medicines related to muscle treatment. Furthermore, cardamom oil is being used as a flavoring and coloring agent in food production, which is expected to give a boost to the market growth. Factors such as increasing metropolitan population, increasing health awareness, and changing lifestyles, which are propelling demand for cardamom oil, owing to its benefits for bones, hair, and skin. Moreover, cardamom oil aids in relieving muscular pain, aches, cramps, and is also used to treat cold, flu, and cough among others. Besides, the oil finds applications in cosmetic and personal care products, such as mouth wash and hand wash gels. However, the high cost involved in the production and surging prices of cardamom seeds in the market is likely to pose a challenge to the expanding profit margins. Also, the availability of alternatives such as clove oil, ginger oil, etc. is also likely to impede the revenue to an extent.
Asia Pacific to Remain a Prominent Consumer of Cardamom Oil
The Asia Pacific is expected to bestow lucrative opportunities to the players in the cardamom oil market, owing to high demand from the cosmetics industry in the region. Furthermore, the region is expected to remain one of the most prominent consumers of cardamom oil, backed by high demand in bakery and confectionery industries in China and India. Likewise, high consumption in the food production applications in North America and Europe will continue to shape the growth trajectory of the global cardamom oil market.