NEW YORK, Sept. 18, 2023 /PRNewswire/ — The cardamom market size is expected to grow by USD 185.83 million from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 3.12% during the forecast period. Growing awareness about the health benefits of cardamom is notably driving the cardamom market. However, factors such as Fluctuation in the prices of cardamom may impede the market growth. The market is segmented by Product (Ingredients, Powder, and Liquid extract), Application (Food and beverages, Medical usage, and Others), and Geography (APAC, Europe, Middle East and Africa, North America, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format
Key Segment Analysis
The ingredients segment will be significant during the forecast period. Saudi Arabia, India, Pakistan, Nepal, the United Arab Emirates, Kuwait, Qatar, and Sri Lanka are major users of flavoring in cold drinks like tea or coffee. The spice is used as a major ingredient by the vendors offering hot beverages, e.g. tea products and a mixture of Masalas like garam masala, as it provides medicinal benefits on consumption. Furthermore, factors like growing awareness about the health benefits of cardamom and the increasing use of cardamom as an essential ingredient in baked goods. Hence, such factors drive the segment growth during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View the FREE PDF Sample Report.
Geographical Market Analysis
Based on geographic segmentation, 38% of the market’s growth originated from APAC during the forecast period. In addition, the ingredients segment led the growth under the product segment. The rich aroma of cardamom in baked goods increases its demand as an essential ingredient. This report provides an accurate prediction of the contribution of all the segments to the growth of the cardamom market size.
The cardamom market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including:
Als Spices, AR RAHMAN SPICES, Biofoods Pvt. Ltd., Cardex SA, Del Tropico SA, E Silk Route Ventures Pvt. Ltd., EVEREST Food Products Pvt. Ltd., Greenfield Bio Plantations Pvt. Ltd., Imexa Inc., Kautilya Commodities, KLG Spice, MAS Enterprises Ltd., McCormick and Co. Inc., Organic Spices Inc., Pristine Organics Pvt. Ltd., ROYAL SPICES, South Indian Green Cardamom Co. Ltd., Sujep wachstum Enterprises, Synthite Industries Pvt. Ltd., Woodland Foods Ltd.
The spices market is estimated to grow at a CAGR of 6.97% between 2022 and 2027. The size of the market is forecast to increase by USD 2,607.46 million. This report extensively covers market segmentation by product type (powder, whole, and crushed/chopped), end-user (household, food services, and industrial), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The growing awareness of the medical benefits of spices is notably driving the market growth.
The spices and seasonings market is estimated to grow at a CAGR of 6.01% between 2022 and 2027. The size of the market is forecast to increase by USD 6,957.05 million. This seasonings spices market report extensively covers market segmentation by end-user (retail, food service, and industrial), product (salt and salt substitutes, pepper, dried herbs, and individual spices), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The growing awareness of the medical benefits of spices is notably driving the market growth.
- How do the major trends impact the market?
- How big is the North America market?
- How do the key drivers and challenges impact the market?
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Application
Market Segmentation by Geography
Drivers, Challenges, & Trends
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.