Black Seed Oil Market Size, Share & Trends Analysis Report By Product (Oil, Powder, Tablets, & Capsules, Soft Gel), By Application, By Region, And Segment Forecasts, 2022 - 2028

Black Seed Oil Market Size, Share & Trends Analysis Report By Product (Oil, Powder, Tablets, & Capsules, Soft Gel), By Application, By Region, And Segment Forecasts, 2022 - 2028

Black Seed Oil Market Growth & Trends

The global black seed oil market size is expected to reach USD 29.43 million by 2028, registering a CAGR of 7.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness regarding health and dietary plans across the globe, adoption of herbal products instead of the chemical drug during treatment, and inclusion in daily diet as immunity booster are expected to promote the market growth over the next few years. Moreover, changing busy lifestyles has led to an increase in the demand for black seed oil to improve immunity. All these factors are expected to drive the global market in near future and create new business opportunities for market players to expand their product portfolio and drive revenue.

The oil segment dominated the global market and contributed the largest market share in 2021 and is estimated to grow with the highest CAGR of 7.5% from 2022 to 2028. Black seed oil has been used as a medication to treat a variety of health conditions since ancient times and is becoming increasingly popular. Oil can also be utilized for cosmetic purposes. Black seed oil is being used more frequently as a result of its vast range of applications. As a result, this segment generates the majority of market revenue.

Nutraceutical application is forecast to grow with the highest CAGR of 8.2% from 2022 to 2028. The market sector is likely to be driven by the rising demand for black seed oil to meet the body's daily dietary supplement needs. This oil is high in vitamins and nutrients, which help the human body's immune system. As a result, this category contributes the most and is predicted to increase at the fastest rate throughout the projection period.

The Asia Pacific contributed the largest market revenue of around 45% in 2021. Countries such as China and India are positively contributing to the growth of market revenue. The region is the origin of the Nigella sativa. Increasing cultivation land coupled with improved cultivation methods is expected to contribute more to market revenue.

Companies are conducting substantial research and development to create technologically sophisticated procedures for extracting black seeds in order to improve production and product quality. In addition, companies are making progress in developing techniques for determining the quality and medical applications of black seeds. Market players are also concentrating on strategically expanding their company activities in various geographical locations throughout the world.

Black Seed Oil Market Report Highlights

• The Asia Pacific accounted for the largest market revenue of around 45% in 2021. Improved cultivation methods and increasing cultivation of land are contributing to the growth of the market
• Oil segment dominated the market and contributed to the largest revenue share of over 65% in 2021 and is forecast to grow with the highest CAGR of 7.5% from 2022 to 2028. The growth of the segment is driven by its range of nutraceutical and medical applications
• Nutraceutical application is forecast to grow with the highest CAGR of 8.2% from 2022 to 2028. The rising need to satisfy the daily need for dietary supplements in the body is expected to drive the market