Cardamom Market Expected to reach USD 39.02 Billion by 2024


    Global Cardamom Market Research Report 2018 to 2025 provides an in-depth analysis of the North America, Europe, Middle East and Africa, Latin America, Asia Pacific appraisal market by value, by volume, by segments, by number of AMCs, appraiser’s tenure, etc. The report also gives an insight of the Global addressable appraisal market opportunity.

    On the basis of attributes such as company overview, recent developments, strategies adopted by the market leaders to ensure growth, sustainability, financial overview and recent developments.

    This report provides a detailed analysis of the Cardamom market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.

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    Essential points covered in Global Cardamom Market2018 Research are:-

    • What will the market size and the growth rate be in 2025?
    • What are the key factors driving the global Cardamom market?
    • What are the key market trends impacting the growth of the global Cardamom market?
    • What are the challenges to market growth?
    • Who are the key vendors in the global Cardamom market?
    • What are the market opportunities and threats faced by the vendors in the global Cardamom market?
    • What are the key outcomes of the five forces analysis of the global Cardamom market?

    This independent 210 pages report guarantees you will remain better informed than your competition. With over 150 tables and figures examining the Cardamom market, the report gives you a visual, one-stop breakdown of the leading products, submarket and market leader’s market revenue forecasts as well as analysis to 2025.

    Furthermore, the report provides a detailed analysis of the global Cardamom market with analysis of market size by value and volume. Along with this, an analysis of penetration rate and the average revenue generated per user (ARPU) in the market has also been done.The report also includes a detailed analysis of the global Cardamom market by countries, comprising of its market by value, volume, and ARPU and penetration rate.

    Growth Drivers & Challenges:

     The drivers which propel the growth of global cardamom market are increasing usage of cardamom in health supplements, initiatives taken by spice board government for export and import of spices such as spice board is helping exporters with better infrastructures and quality improvement. Government in India has also fixed up importing price of cardamom at Rs. 500 per kg in order to control the volume of imports.
    The key vendors of cardamom market are making the availability of their products online which not only saves the time of customers but also serve as the growth driver for global cardamom market.
    There are many challenges that are faced by key vendors of global cardamom market. Due to shortage of labor, sometimes there are low production costs, decrease in volatile content, low yield due to climatic conditions, high use of pesticides and high cost of cardamom are some of the restraints that curtails the growth of global cardamom market. 

    Companies Mentioned are MAS Enterprises, DS Group, McCormick & Company (MKC), Everest Spice , IMEXA, Kautilya Commodities, N C Bhojraj & Company (NCBC), ROYAL SPICES, South Indian Green Cardamom Company (SIGCC)

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    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 to ancient spices. Cardamom is derived from the Latin word cardamomum which is a kind of Indian spice plant. Three years are taken by cardamom plant to bear fruits which are productive for more than 5 to 6 years.
    Almost 72% global productions are originated from two producers Guatemala in Central America and South India. Due to climatic conditions, cardamom is produced whole year in Guatemala which has a big advantage in export market. According to our report Saudi Arabia is the largest importer of cardamom due to flavored drinks like concoction which is very popular in Middle East region such as Kuwait, Saudi Arabia and UAE etc.
    Cardamom is also 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.
    One of the boosting factors that is driving the growth of cardamom market is accelerating use of cardamom in developing countries such as Middle east and Africa, Latin America, South east Asia etc. These countries consume more amount of cardamom products such as concoction drink, cardamom oil etc. Since cardamom is third most expensive spice globally so it can only be owned by upper middle class and rich population.

    Currently major contributing countries to global cardamom market are Guatemala and India. They contribute almost 72% of total cardamom production globally. Global cardamom market is expected to have a market value of USD 87.21 billion by 2024 from the market value of USD 67.4 billion in 2016 showing an incremental growth of USD 19.81 billion over the forecast period. The global market is said to have a CAGR of 2.50% over the forecast period.
    On the basis of products, ingredient segment is expected to dominate the global cardamom market with 45% market share by 2024. The global cardamom market is accounted for a value of USD 39.02 billion by 2024 from USD 30.33 billion in 2016 due to the availability of products which increases the health awareness benefits in population.
    Geographically, Asia Pacific is the biggest region in global cardamom market. Asia pacific cardamom market holds 40% market share in 2016. Market value for Asia Pacific is accounted for USD 35.24 billion by 2024 from USD 26.02 billion in 2016. India is the second largest producer of cardamom after Guatemala. In India, Kerala alone holds 70% of Asia Pacific share in cardamom market. Export Import regulations shows that around 10, 00,000 tons of spices are exported from India which is one of the major countries in Asia Pacific generating the revenue of USD 2.63 billion in 2017. North America cardamom market is anticipated to reach USD 26.16 billion by 2024 from USD 20.22 billion in 2016.

    The Cardamom market is expected to increase due to growth in GDP per-capita, international tourism, etc. Yet, the market faces some challenges such as, global economic downturn, high probability of terror attack, etc. The global Cardamom market is expected to grow at a healthy rate during the forecast period (2018-2025). The growth is expected on account of many factors, such as an increase in disposable income, increasing international inbound and outbound tourism and aging demography.

    However, the market also faces some challenges, which includes increase in the number of terror attacks, heavy taxes imposed on the tour operators and seasonality dependence. Digital travel, evolution of eco-tourism and rise of adventure tourism are some of the latest trends in the global Cardamom market.

    The report provides a basic overview of the Cardamom industry including definitions, classifications, applications and industry chain structure. And development policies and plans are discussed as well as manufacturing processes and cost structures.

    Then, the report focuses on global major leading industry players with information such as company profiles, product picture and specifications, sales, market share and contact information. What’s more, the Cardamom industry development trends and marketing channels are analyzed.

    The research includes historic data from 2014 to 2017 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Cardamom on the basis of stating current situation of the industry in 2018 so as to make comprehensive organization and judgment on the competition situation and development trend of Cardamom Market and assist manufacturers and investment organization to better grasp the development course of Cardamom Market.

    The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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