New York, United States , Sept. 10, 2024 (GLOBE NEWSWIRE) -- The Global Green Cardamom Market Size is to Grow from USD 810.21 Million in 2023 to USD 1351.6 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 5.25% during the projected period.
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True cardamom is a spice made from the Elettaria cardamomum plant, a member of the ginger family (Zingiberaceae). It is also known as green cardamom or "chhoti elaichi" in Hindi. Producers harvest the small green seeds and pods when they reach full maturity these have intense, sweet flavors akin to those of eucalyptus. Cardamom is the best traditional spice in the world. This spice is referred to as the "Queen of spices" because of its wonderful flavor and scent. The Western Ghats of Malabar are the origin and variety hub of cardamom. Because green cardamom enhances flavor and is used extensively in the food and beverage industries, the market for it is expanding. The primary drivers of the growth in the green cardamom market are the increasing popularity of ethnic and unusual flavors in worldwide cuisine and the growing desire for natural and organic products from consumers. Furthermore, cardamom prices can vary greatly due to several reasons, such as meteorological conditions, seasonal fluctuations, and imbalances in supply and demand. These variations could make investments in the green cardamom market challenging.
Browse key industry insights spread across 270 pages with 121 Market data tables and figures & charts from the report on the "Global Green Cardamom Market Size, Share, and COVID-19 Impact Analysis, By Nature (Organic and Conventional), By Product (Small and Large), By End-Use (Food Service and Retail), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The conventional segment is anticipated to grow at the highest CAGR of the green cardamom market during the projected timeframe.
Based on the nature, the green cardamom market is divided into organic and conventional. Among these, the conventional segment is anticipated to grow at the highest CAGR of the green cardamom market during the projected timeframe. Conventional green cardamom's market share is influenced by several variables, including its well-established production and supply chain that ensures a consistent and reasonably priced supply. Conventional farming methods typically have lower production costs than organic farming methods, allowing for competitive pricing.
The small segment is expected to hold a significant market share of the green cardamom market during the projected timeframe.
Based on the product, the green cardamom market is divided into small and large. Among these, the small segment is expected to hold a significant market share of the green cardamom market during the projected timeframe. Small green cardamom is highly valued worldwide and is widely utilized in culinary applications, contributing to its dominance in the market. Its rich flavor and fragrant attributes are what fuel its popularity. Its unique taste is essential to many traditional foods, desserts, and beverages, especially in South Asian and Middle Eastern cuisines. As these flavors gain popularity in cuisines all over the world, there is a huge surge in demand for small green cardamom.
The retail segment accounted for the largest revenue share of the green cardamom market during the projected timeframe.
Based on the end-use, the green cardamom market is divided into food service and retail. Among these, the retail segment accounted for the largest revenue share of the green cardamom market during the projected timeframe. The growing popularity of cooking at home, the need for healthier ingredients, and consumer interest in pricey and unique spices are the main drivers of the segment's domination. Retailers benefit from the popularity of delicious cooking and diverse cultures since green cardamom is a high-quality, versatile product that is available in both whole and ground versions.
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Asia Pacific is expected to hold the largest share of the green cardamom market over the forecast period.
Asia Pacific is expected to hold the largest share of the green cardamom market over the forecast period. The Asia Pacific region is the world's largest producer of cardamom, which accounts for its dominance. Vietnam, Sri Lanka, and India are the main cardamom-growing countries in the Asia-Pacific region. India is among the leading producers of cardamom in the world. The market in the area is anticipated to rise as a consequence of factors such as growing consumer spending on food and beverages, online shopping, the availability of cardamom essential oil, and the expanding need for natural ingredients. The principal factor propelling cardamom's growth is its indispensable function in Ayurveda medicine.
North America is predicted to grow at the fastest pace in the green cardamom market during the projected timeframe. High demand for spices, particularly green cardamom, which is developing as more and more North American consumers discover international cuisines, is the primary driver of this business' quick expansion. This trend may be seen in the popularity of ethnic meals at eateries and grocery stores, where dishes such as Middle Eastern stews, Indian curries, and Scandinavian baked products are enhanced with the flavor of green cardamom. The market is driven primarily by rising demand in the food and beverage industry, specifically for specialty and ethnic cuisines, in addition to the market for natural and organic foods.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the green cardamom market are Adrianna Springs Impex Pvt Ltd., Cardex S.A., MAS Enterprises Ltd, Nani Agro Foods, Royal Spices, Sunlite India Agro Producer Company Ltd., Synthite Industries, VLC Spices, Vora Spice Mills LLP, Everest Spices, IMEXA, Kautilya Commodities, N C Bhojraj & Company, Pristine Organics Pvt. Ltd., and others Key vendors.
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Recent Developments
- In August 2024, Among the 109 climate-resilient crop varieties announced by the Prime Minister were two cardamom cultivars created by the regional station of the Indian Institute of Spices Research (IISR), Kozhikode, and a component body of the Indian Council of Agricultural Research (ICAR).
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the green cardamom market based on the below-mentioned segments:
Global Green Cardamom Market, By Nature
- Organic
- Conventional
Global Green Cardamom Market, By Product
- Small
- Large
Global Green Cardamom Market, By End-Use
- Food Service
- Retail
Global Green Cardamom Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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