Global Cardamom Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Cardamom Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Cardamom is called as queen of spices which has exotic aromatic flavors. Cardamom is an oldest and third most expensive spice after saffron and vanilla. Cardamom has warm fortifying fragrance that adds extra advantage tancient spices. Cardamom is derived from the Latin word cardamomum which is a kind of Indian spice plant. Cardamom is als used for medical purposes as it is very curative in nature. It helps in healing of sore throat, whitening of teeth, digestive disorders etc. Cardamoms, being one of the primary ingredients are used in herbal health supplements such as tea bags, cardamom powders, cardamom liquids etc.

Market Overview:

The latest research study on the global Cardamom market finds that the global Cardamom market reached a value of USD 683.43 million in 2022. It’s expected that the market will achieve USD 733.74 million by 2028, exhibiting a CAGR of 1.19% during the forecast period.

People's health awareness

With the global focus on people's health, awareness of health care has increased. People are increasingly aware of the health benefits of soymeal product consumption, which will bring more opportunities to the soybean meal market.

The development of e-commerce

With the development of the e-commerce industry worldwide, cardamom trading will become more convenient and simpler. This will bring new growth to the cardamom market.

Form a more complete industrial chain

Cardamom is a crop and therefore has a characteristic of being easily deteriorated. The need for a storage environment is higher. It is sensitive to the effects of temperature, humidity and oxygen on the outside world and needs to be stored in a suitable environment. Therefore, controlling the quality of cardamom from the source, participating in the production of cardamom, and supervising the processing of cardamom can effectively improve the quality of the cardamom products, form a complete industrial chain, and reduce the intermediate cost.

Labor shortage and rising labor costs

The cultivation and processing of cardamom requires a large amount of labor. As the population ages, labor shortages and rising labor costs will affect the cardamom market.

Product price fluctuations

Known as the Queen of Spices, cardamom is a relatively expensive spice. Although the sales of cardamom have been rising, the production of cardamom has been greatly affected due to the impact of the climate. The price of cardamom is highly fluctuated by production, which has been affecting the enthusiasm of cardamom growers.

Region Overview:

Middle East & Africa is projected to account for a considerable share of the Cardamom market and is expected to become the largest region by 2028.

Company Overview:

Cardex, S. A is one of the major players operating in the Cardamom market, holding a share of 20.63% in 2023.

Cardex, S. A

CARDEX is the world's largest exporter of soymeal and has been on the market for more than 35 years. The quality and reliability of the CARDEX brand has been recognized by customers. In addition to cardamom, CARDEX also exports Allspice, Annatto Seeds, dried black lemon and essential oils.

Green Gold

Vandanmedu Green Gold Cardamom Producer Co.Ltd. is a producer company registered with the Ministry of Corporate Affairs, Govt. The shareholders of the company are spice producers with major crop area of small cardamom plantations located in the Idukki District of Kerala in Western Ghats, where 90 percentage of India's small cardamom is produced.

Segmentation Overview:

Among different product types, Neither Crushed nor Ground segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Food and Drink segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Cardamom market covered in Chapter 3:

Agro Diversas SA
IMEXA
Green Gold
N C Bhojraj & Company (NCBC)
Cardex, S.A
MAS Enterprises Ltd
Cardomino
Monte de Oro
ROYAL SPICES
Fedecovera
EXCARD, S.A

In Chapter 4 and Chapter 14.2, on the basis of types, the Cardamom market from 2018 to 2029 is primarily split into:

Neither Crushed nor Ground
Crushed or Ground

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Cardamom market from 2018 to 2029 covers:

Food and Beverage
Pharmaceuticals

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)