Global Green Cardamom Market Insights Forecasts to 2033

• The Global Green Cardamom Market Size was Valued at USD 810.21 Million in 2023
• The Market Size is Growing at a CAGR of 5.25% from 2023 to 2033
• The Worldwide Green Cardamom Market Size is Expected to Reach USD 1351.6 Million by 2033
• North America is Expected to Grow the fastest during the forecast period.

 

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The Global Green Cardamom Market Size is Anticipated to Exceed USD 1351.6 Million by 2033, Growing at a CAGR of 5.25% from 2023 to 2033.

 

Market Overview

True cardamom, often referred to as green cardamom or "chhoti elaichi" in Hindi, is a spice derived from the Elettaria cardamomum plant, which is a member of the ginger family (Zingiberaceae). Cardamom is the world’s best traditional spice. The exquisite aroma and flavor of this spice have earned it the title "Queen of spices." The cardamom's origin and diversity hub is the Western Ghats forests of Malabar. Cardamom possesses specific qualities. It is a clear to light golden liquid with a woody-balsamic undertone and a warming, sweet-spicy aroma. The spice has a wide range of culinary uses, from traditional meals including Middle Eastern coffee and Indian biryani to cutting-edge products including culinary chocolates and spiced lattes. The market for green cardamom is growing due in large part to its taste-enhancing properties and widespread usage in the food and beverage industries.

 

According Spices Board (Ministry of Commerce and Industry, Government of India) the leading association focused on the advancement and worldwide distribution of Indian spices including green cardamom. The Spices Board demands to increase cardamom productivity both in size and area, enhance post-harvest practices to produce a surplus of high-quality spices that can be exported, and promote the export of spices. Moreover, Spice Board carries out several initiatives to assist farmers and enhance agricultural methods, including training courses, irrigation subsidies, and research expenditures aimed at creating crop types that are more resilient to disease. Green cardamom's productivity and quality have grown as a result of these initiatives, increasing its competitiveness in the worldwide market.

 

Report Coverage

This research report categorizes the market for the green cardamom market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the green cardamom market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the green cardamom market.

 

Driving Factors

The growing attraction of ethnic and exotic flavors in international cuisine, along with rising consumer demand for natural and organic products, are the main factors driving the green cardamom market's increase. The demand for green cardamom has risen due to its increasing accessibility owing to the growth of e-commerce.

 

Restraining Factors

Cardamom prices can fluctuate significantly because of several factors, including seasonal variations, supply and demand imbalances, and climatic circumstances. Investment in the green cardamom market may be hindered by these fluctuations.

 

Market Segmentation

The green cardamom market share is classified into nature, product, and end-use.

• The conventional segment is anticipated to grow at the highest CAGR during the forecast period.

Based on the nature, the green cardamom market is categorized into organic and conventional. Among these, the conventional segment is anticipated to grow at the highest CAGR during the forecast period. The segment dominance is driven by several factors, including its well-established production and supply chain that assures a consistent and affordable supply, contributes to conventional green cardamom’s market share. In comparison to organic farming methods, conventional farming methods usually have lower production costs, which enable competitive pricing.

 

• The small segment is expected to hold a significant market share through the forecast period.

Based on the product, the green cardamom market is categorized into small and large. Among these, the small segment is expected to hold a significant market share through the forecast period. The segment dominance is driven by its strong flavour and fragrant qualities; small green cardamom is prized globally and is frequently used in culinary applications. Particularly in South Asian and Middle Eastern cuisines, its distinct flavour is indispensable in a variety of traditional dishes, sweets, and drinks. The demand for small green cardamom has increased dramatically as these flavours become more popular in cuisines around the world.

 

• The retail segment accounted for the largest revenue share over the forecast period.

Based on the end-use, the green cardamom market is categorized into food service and retail. Among these, the retail segment accounted for the largest revenue share over the forecast period. The segment dominance is driven by increased demand for health-conscious ingredients, the growing popularity of cooking at home, and growing consumer interest in expensive and unusual spices. Because green cardamom is a high-quality, flexible product that can be found in both whole and ground forms, retailers are profiting from the popularity of delicious cookery and different cultures.

 

Regional Segment Analysis of the Green Cardamom Market 

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia Pacific is anticipated to hold the largest share of the green cardamom market over the predicted timeframe.

 

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Asia Pacific is projected to hold the largest share of the green cardamom market over the forecast period. This dominance is due to the Asia Pacific region which is the biggest producer of cardamom. The most significant cardamom-growing nations in Asia-Pacific are Vietnam, Sri Lanka, and India. India is among the leading producers of cardamom in the world. The region’s market is expected to develop as a result of rising consumer expenditure on food and drink, internet shopping, the accessibility of cardamom essential oil, and the growing demand for natural components. The primary driver of cardamom’s expansion is its essential role in Ayurveda medicine. Ayurveda is rapidly expanding, particularly in the Asia Pacific region, to treat health-related issues. Worldwide demand for cardamom is rising in tandem with the growing demand for Ayurveda medicines. The extensive usage of cardamom in the food and beverage industry, along with its capacity to enhance flavor, is a significant contributing reason to the market’s expansion.

 

North America is expected to grow at the fastest CAGR growth in the green cardamom market during the forecast period. This rapid expansion, fueled by significant demand for spices, including green cardamom, is rising as a growing number of North American customers explore world cuisines. The popularity of ethnic foods at restaurants and supermarkets, where green cardamom is used to improve the flavor of dishes including Middle Eastern stews, Indian curries, and Scandinavian baked goods, is indicative of this trend. Rising demand in the food and beverage industry, particularly for specialty and ethnic cuisines, in addition to the market for natural and organic foods, are the primary drivers of the market. The usage of spice in wellness products, and specialty drinks including chai coffee and craft cocktails, and growing consumer knowledge of its health benefits such as promoting improved digestion and lowering inflammation all contribute to its rising popularity.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the green cardamom 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.

 

List of Key Companies

• 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.
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In August 2024, The Indian Prime Minister disclosed 109 crop varieties that are adaptable to climate change, including two cardamom types created by the regional station of the Indian Institute of Spices Research (IISR), Kozhikode, and an organization that is part 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