LONDON--(BUSINESS WIRE)--The global black seed oil market is expected to post a CAGR of close to 2% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global black seed oil market size is the diversification of applications. The use of black seed oil is increasing significantly in various application areas and industries including personal care and cosmetics, pharmaceutical, nutraceutical, flavoring additives and seasonal dressings, and culinary. Black seed oil is manufactured from black cumin seeds, which is a source of active compounds that are highly acclaimed for their medicinal properties. It is widely preferred by consumers for preparation of low-calorie and healthy foods, because it contains a lower number of calories. Such applications of black seed oil are expected to boost demand during the forecast period.
As per Technavio, the technological advances in the production of black seed oil will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global black seed oil market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Black Seed Oil Market: Technological Advances in the Production of Black Seed Oil
The growing demand for black seed oil-based products and supplements has encouraged many vendors to emphasize the production of high-quality black seed oil. This has resulted in the adoption of innovative and high-precision technologies to produce and extract black seed oil. For instance, companies are adopting innovative cold-press extraction methods and technologies to obtain good quality black cumin seed oil. Such technological advances in production will be a key factor driving the growth of the market during the forecast period.
“Apart from technological advances in the production process, other factors such as innovation in packaging, and premiumization will have a significant impact on the growth of the black seed oil market value during the forecast period,” says a senior analyst at Technavio.
Global Black Seed Oil Market: Segmentation Analysis
This market research report segments the global black seed oil market worth by product (liquid, and capsules, softgels, and powder), and geographic regions (Europe, North America, APAC, South America, and MEA).
The APAC region led the black seed oil market in 2018, followed by Europe, North America, South America, and MEA respectively. The black seed oil market analysis report identifies factors such as the increasing popularity of nutraceuticals and health supplement-based products, to account for the market dominance of the APAC region during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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