Global Cardamom Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview

of Global Cardamom market:
The latest research study on the global Cardamom market finds that the global Cardamom market reached a value of USD 683.43 million in 2022. It’s expected that the market will achieve USD 733.74 million by 2028, exhibiting a CAGR of 1.19% during the forecast period.

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 tancient spices. Cardamom is derived from the Latin word cardamomum which is a kind of Indian spice plant. Cardamom is als 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.

People's health awareness
With the global focus on people's health, awareness of health care has increased. People are increasingly aware of the health benefits of soymeal product consumption, which will bring more opportunities to the soybean meal market.

The development of e-commerce
With the development of the e-commerce industry worldwide, cardamom trading will become more convenient and simpler. This will bring new growth to the cardamom market.

Form a more complete industrial chain
Cardamom is a crop and therefore has a characteristic of being easily deteriorated. The need for a storage environment is higher. It is sensitive to the effects of temperature, humidity and oxygen on the outside world and needs to be stored in a suitable environment. Therefore, controlling the quality of cardamom from the source, participating in the production of cardamom, and supervising the processing of cardamom can effectively improve the quality of the cardamom products, form a complete industrial chain, and reduce the intermediate cost.

Labor shortage and rising labor costs
The cultivation and processing of cardamom requires a large amount of labor. As the population ages, labor shortages and rising labor costs will affect the cardamom market.

Product price fluctuations
Known as the "Queen of Spices", cardamom is a relatively expensive spice. Although the sales of cardamom have been rising, the production of cardamom has been greatly affected due to the impact of the climate. The price of cardamom is highly fluctuated by production, which has been affecting the enthusiasm of cardamom growers.

Region Overview:
Middle East & Africa is projected to account for a considerable share of the Cardamom market and is expected to become the largest region by 2028.

Company Overview:
Cardex, S. A is one of the major players operating in the Cardamom market, holding a share of 20.63% in 2023.

Cardex, S. A
CARDEX is the world's largest exporter of soymeal and has been on the market for more than 35 years. The quality and reliability of the CARDEX brand has been recognized by customers. In addition to cardamom, CARDEX also exports Allspice, Annatto Seeds, dried black lemon and essential oils.

Green Gold
Vandanmedu Green Gold Cardamom Producer Co.Ltd. is a producer company registered with the Ministry of Corporate Affairs, Govt. The shareholders of the company are spice producers with major crop area of small cardamom plantations located in the Idukki District of Kerala in Western Ghats, where 90 percentage of India's small cardamom is produced.

Segmentation Overview:
Among different product types, Neither Crushed nor Ground segment is anticipated to contribute the largest market share in 2028.

Application Overview:
By application, the Food and Drink segment occupied the biggest share from 2018 to 2022.

The report covers a research time span from 2018 to 2029; combines extensive quantitative analysis and exhaustive qualitative analysis; presents not only an overview of the global Cardamom market in metrics of sales, revenue, growth rate, but also a deeper dive into the segmented market by region, product type and downstream industry, showing the readers a clear and distinct picture of how the market is distributed from different perspectives.

For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.

As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.

Research Scope
This report provides an overview of the global Cardamom market and analyzes the segmented market by product type, downstream industry, and region, presenting data points such as sales, revenue, growth rate, explaining the current status and future trends of the Cardamom and its sub-markets in an intuitive way.

Key Companies in the global Cardamom market covered in Chapter 3:
MAS Enterprises Ltd
Green Gold
Fedecovera
N C Bhojraj & Company (NCBC)
Monte de Oro
ROYAL SPICES
Cardomino
EXCARD, S.A
Cardex, S.A
Agro Diversas SA
IMEXA

In Chapter 4 and Chapter 14.2, on the basis of types, the Cardamom market from 2018 to 2029 is primarily split into:
Neither Crushed nor Ground
Crushed or Ground

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Cardamom market from 2018 to 2029 covers:
Food and Beverage
Pharmaceuticals

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:
North America (United States, Canada)

Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)

Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)

Latin America (Brazil, Mexico, Argentina)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)

Key Factors Considered

COVID-19
Amid the COVID-19 crisis, the Cardamom market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.

Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it’s going to evolve in the years to come.

Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.

Chapter Outline

Chapter 1 starts the report with a brief overview of the research scope, as well as the definitions of the target market and the subdivisions.

Chapter 2 integrates and sketches the research findings and conclusions in a clear and explicit way.

Chapter 3 presents the competitive landscape by displaying the sales, revenue, and market shares of the top players. It also profiles the major market participants with their business introductions, sales, price, revenue, gross, growth rates, etc.

Chapter 4 breaks down the market by different product types and shares data correspondingly with the aim of helping the readers know how the market is distributed by type.

Chapter 5 segments the market by downstream industry, with data covers sales, revenue, and growth rate tracing back to 2018.

Chapter 6 is the analysis of the whole market industrial chain, ranging from upstream raw materials to downstream customers, with regional conflicts taken into consideration.

Chapter 7 elaborates on market dynamics. Factors that drive, challenge, or restrain the market are all listed, together with industry news, opportunities, impacts of COVID-19, and SWOT analysis.

Chapter 8 shows the breakdown data at the regional level, which enables the readers to picture the regional competitive pattern of the market and learn about the revenue, sales, and market share of all the major regions.

Chapter 9-13 focus on each and every of the major region, specifically, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Sales, price, revenue, gross, gross margin, among others, will be all be presented.

Chapter 14 forecasts the future trend of the market not only as a whole but also from the perspective of all segments.

Years considered for this report:

Historical Years:

2018-2022

Base Year:

2022

Estimated Year:

2023

Forecast Period:

2023-2029

Frequently Asked Questions