According to a new market report published by Lucintel, the future of the cardamom market looks promising with opportunities in the food, pharmaceutical, and others. The global cardamom market is expected to grow with a CAGR of 4% from 2020 to 2025. The major drivers for this market are increasing use of cardamom in health supplements, import of spices, initiatives taken by spice board government for export and import and usage in the food and beverage industry.
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In this market, ingredients, powder, and liquid extract are the major product types. Lucintel forecasts that ingredient will remain the largest segment over the forecast period because it is used from making tea to treating heart-related disorders and the major reason behind the growth of the cardamom is its vital use in ayurvedic medicines.
Within this market, food and beverages, pharmaceuticals, cardamom oil, and others are the major applications. Food and beverage will remain the largest segment by application type over the forecast period because of increase in population; as the population increases, demand in household increases leading to increase in food and beverages.
Asia-Pacific is expected to witness the highest growth over the forecast period due to increased demand for ayurvedic medicines, and the increase in population will lead to increased demand of cardamom in households, and in the food and beverage, and medical industries, increasing sales of cardamom in the Asia-Pacific.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global cardamom market by product type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Cardamom Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global cardamom market by product type, application, and region as follows:
By Product Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Ingredients
Powder
Liquid extract
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Food and beverages
Pharmaceuticals
Cardamom oil
Others
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Germany
France
Italy
Russia
Spain
China
Japan
India
Australia
South Korea
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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