Green Cardamom a Spice on the Rise
The global green cardamom market is projected to grow significantly over the next decade, reaching a market value of approximately USD 1.35 billion by 2033. This growth is driven by increasing demand across various industries, particularly in the food and beverage, pharmaceutical, and wellness sectors. The market is expected to grow at a compound annual growth rate (CAGR) of 5.25%, highlighting its expanding appeal.
One of the key drivers of this growth is the rising popularity of ethnic cuisines and natural ingredients. Green cardamom, known for its rich aromatic flavor, is widely used in both traditional and modern culinary applications, from Middle Eastern stews to Scandinavian baked goods. Consumers’ increasing preference for natural and organic products has also fueled the demand for organic cardamom, with this segment expected to grow at a faster rate compared to conventional varieties.
Asia-Pacific remains the largest producer and consumer of green cardamom, with India, Sri Lanka, and Vietnam being the key contributors. However, North America is expected to experience the fastest growth in demand, driven by the rising interest in exotic and premium ingredients, as well as the health benefits associated with cardamom, such as improved digestion and reduced inflammation.
In the retail sector, green cardamom is gaining traction due to the growing trend of home cooking and the desire for high-quality, versatile spices. Retailers are capitalizing on this demand by offering green cardamom in various formats, including whole pods, ground powder, and infused products like oils and teas. Additionally, the food service sector is projected to see rapid growth as restaurants and cafes incorporate cardamom into premium dishes and specialty beverages like chai lattes and cocktails.
The future of the green cardamom market looks promising, with innovations in sustainable farming practices and increasing consumer awareness about its health benefits playing a pivotal role in shaping its expansion.