LONDON--(BUSINESS WIRE)--The rising use of cardamom in several health supplements such as tea bags, capsules, powders, liquids, and tablets is anticipated to drive the market growth in the forthcoming years. Cardamom contains various phytochemicals and antioxidants for encouraging manufacturers in launching several cardamom-based health supplements. For instance, Conscious Food has already launched three flavors of medicinal potion, original, spicy ginger, and cardamom under the brand name SugaVida. In addition, Technavio has further analyzed that the multifaceted nature of cardamom will also drive the market demand during the forecast period.
According to Technavio’s research report, the cardamom market segmented as food and beverage, medicinal uses, and other uses as key applications. The food and beverages application segment will account for 68.27% by 2021. Growing awareness about the health benefits of cardamom product consumption, the increasing use of cardamom oil, and the rising cardamom consumption in developing countries are the drivers impacting the growth of this application segment during the forecast period.
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The increased consumption of cardamom, particularly in Scandinavian countries is forecasted to aid Europe in leading the cardamom market to witness an incremental growth of 33% by 2024. The growing trend of using cardamom as a taste and aroma ingredient in a variety of ethnic cuisines, such as Mexican, Indian, and Thai, among European consumers is increasing the demand for different cuisine-specific sauces, such as cardamom sauces. This has further encouraged manufacturers to launch and introduce products such as cardamom yogurt sauces, in turn, driving the cardamom market during the forecast period.
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- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Ingredients - Market size and forecast 2019-2024
- Powder - Market size and forecast 2019-2024
- Liquid extract - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Food and beverages - Market size and forecast 2019-2024
- Medical uses - Market size and forecast 2019-2024
- Other uses - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Cardex SA
- DS Group
- Imexa Inc.
- Kautilya Commodities
- MAS Enterprises Ltd.
- McCormick & Company Inc.
- Organic Spices Inc.
- Pristine Organics Pvt. Ltd.
- ROYAL SPICES
- Woodland Foods Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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