LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Cardamom Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the agro commodities and raw materials industry. This report breaks down the data and analysis behind the procurement of cardamom and acts as an all-inclusive guide for making smart purchasing decisions.
“The global cardamom market is experiencing a growing buyer preference for organic cardamom, food safety certifications, sustainable sourcing, and incorporation of processing techniques to combat microbiological contamination,” says SpendEdge procurement analyst A Kowshik. “Also, the increasing disposable income and affordability of consumers in APAC is expected to increase the consumption rate of cardamom over the forecast period,” added Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Cardamom Market:
- The increasing farming activity for organically-grown large cardamom variety
- Growing importance of sustainable sourcing of cardamom
- The growing need for backward integration to ensure food safety
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The increasing farming activity for organically-grown large cardamom variety:
Farming activity for organic cardamom has significantly increased in key producing countries due to growing global demand for organic products. The farmers and governments in primary cardamom producing countries such as India are increasingly focusing on cultivating large organic cardamom; this is expected to increase the supply of large organic cardamom from the second-largest cardamom producing country. Also, the buyers in this market space can benefit from the growing supply of organic cardamom to meet the demand for organic and clean-label products from the food and beverage sector.
Growing importance of sustainable sourcing of cardamom:
Globally, the suppliers of cardamom are facing increasing sustainability necessities from buyers as sustainability goals are becoming essential for buyers. This has led to suppliers investing in certified cardamom, still a niche market to prove compliance with sustainable sourcing, to gain competitive advantage. Moreover, the increasing availability of sustainably-sourced cardamom will aid buyers in achieving their sustainability goals in end-products.
The growing need for backward integration to ensure food safety:
The demand for backward integration by suppliers in the cardamom industry is increasing to constitute a safe supply chain for products. Also, many suppliers are now focusing on practices such as Integrated Pest Management to control farm practices and agricultural inputs to produce the required quality in cardamom products. Backward integration also ensures that the buyers will have better control of food safety at various levels.
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