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Cardamom Market Research Report, Size, Industry Forecast Analysis | Valuates Reports
Cardamom Market SizeThe global Cardamom market was valued at US$ 64580 million in 2023 and is anticipated to reach US$ 74430 million by 2030, witnessing a CAGR of 2.0% during the forecast period 2024-2030.
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Cardamom is an exotic and aromatic spice occurring primarily in two genera: Elettaria (green cardamom) and Amomum (black cardamom). Cardamom has culinary and medicinal properties. However, cardamom, being the third-most expensive spice in the world, is the luxury of upper middle-class and rich populations. Cardamom market is highly concentrated, as nearly 70% of the global production of this spice is accounted by two major producers: Guatemala and India. Cardamom is produced in two variants: small cardamom and big cardamom.
One trend in the market is increasing availability of cardamom products through online retailing. With the increase in e-commerce businesses worldwide, the vendors have immense potential to enhance their profitability. E-commerce trading accounts nearly 12% of the global retail trade. Most of these e-commerce channels support business-to-business (B2B) and business-to-consumer (B2C) operations. One driver in the market is increasing use of cardamom in developing countries. The major developing countries in regions like The Middle East and Africa (MEA), Latin America, Eastern Europe, and South-East Asia form the bulk of the market for cardamom products.
By Type
• Ingredients
• Powder
• Liquid Extract
By Application
• Online Retail
• Offline Retail
Key Companies
Cardex, DS Group, MAS Enterprises, McCormick & Company (MKC)
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