About Cardamom
Cardamom is among the world’s oldest spices and the third most expensive spice. It is widely used in Indian, Middle Eastern, Arabic, and Swedish cuisine. Leading producers and exporters of cardamom include Guatemala and India. According to the Food and Agriculture Organization of the United Nations, the export value of cardamom by Guatemala in 2017 was USD365 million. Middle Eastern countries, like Saudi Arabia and UAE, are the leading importers of the spice. In 2017, the import value of cardamom by Saudi Arabia was estimated at USD121 million. Owing to its medicinal properties, the scope of cardamom market is penetrating the health care industry.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.32% |
Analyst at AMA Research estimates that Indians Vendors will contribute the maximum growth to Global Cardamom market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
MAS Enterprises Ltd (India), Cardex, S.A. (Guatemala), Everest Spices (India), IMEXA Inc. (Guatemala), Kautilya Commodities (Toamasina), N C Bhojraj & Company (India), Royal Spices (India), South Indian Green Cardamom Company (SIGCC) (India), Synthite Industries (India) and DS Group (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are McCormick & Company (MKC) (United States).
Segmentation Overview
AMA Research has segmented the market of Global Cardamom market by Type (Black and Green), Application (Food & Beverages, Perfumery and Medicines) and Region.
On the basis of geography, the market of Cardamom has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Form, the sub-segment i.e. Whole Pod will boost the Cardamom market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Middle Eastern Countries Are the Major Importers of Cardamom and Rising Demand in Developed Countries Owing To Its Medicinal Properties
Market Growth Drivers:
Difficult To Find Substitute Owing To Its Unique Flavour Is the Main Driving Factor for Cardamom Market and Extensively Used In Foods and Beverages Due To Its Health Benefits
Challenges:
High Dependency on Climatic Conditions for Raw Materials and Loss of Quality That Results From Short-Comings in Storage Practices
Restraints:
Regulatory Bodies Imposing Quality Control Inhibiting Growth of Market
Opportunities:
Lower Trade Barriers, Bilateral and Multilateral Trade Agreements, and Particularly Better Market Access Could Stimulate Gains in Distribution and Vendors Have Immense Potential to Enhance Their Profitability Due To Emergence of E-Commerce Businesses Worldwide
Food Safety and Standards Authority of India (FSSAI) laid down regulations for spices including cardamom to standardize it for sale and reduce adulteration in the Indian market. The capsules may be light green to brown or pale cream to white when bleached with sulphur dioxide. It must have characteristic flavour free from any foreign odour, mustiness or rancidity, must be free from mould, living and dead insects, insect fragments, rodent contamination. Thrip marks alone should not lead to the conclusion that the capsules have been infested with insects. The product must also be free from added colouring matter and other harmful substances. To lower the spice-related health risk, Food Safety Management System (FSMS) has been developed by the FSSAI. The FSSAI regulations prohibit the sale of powdered spices and condiments in loose form.
Key Target Audience
Cardamom Manufacturer, Traders/Distributors/SuppliersHealthcare Industry, Raw Material Supplier, End-User, Government bodies and associations, Research Companies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.