NEW YORK — The black seed oil market potential growth difference is expected to grow by USD 20.27 million from 2020 to 2025, as per the latest market outlook report from Technavio. The report identifies the market to witness an accelerating growth momentum progressing at a CAGR of 1.83%. 37% of the market’s growth will originate from APAC during the forecast period.
China and India are the key markets for black seed oil in APAC. However, market growth in this region will be slower than the growth of the market in other regions.
Black Seed Oil Market: Health Benefits of Black Seed Oil to drive growth
There has been an increase in the consumption of black seed oil due to the associated health benefits. Black seed oil aids in reducing high blood pressure, minimizing high cholesterol, improving rheumatoid arthritis symptoms, decreasing asthma symptoms, and subsiding upset stomach pains. Consumers are increasingly becoming conscious of their health, and they have started opting for “better-for-you” food ingredients that are healthy and safe to consume. Furthermore, black seed oil can be consumed in either capsule or liquid form. Thus, the health benefits of black seed oil are expected to drive the growth of the market in focus during the forecast period.
Black Seed Oil Market: Revenue-Generating Segment Analysis
This market outlook report segments the black seed oil market by Product (Liquid and CS and P) and Geography (APAC, Europe, North America, South America, and MEA). The liquid segment held the largest black seed oil market share in 2020 and will continue to account for the largest market share during the forecast period. Black seed oil in liquid form is available in the market in variants such as pure liquid, viscous serum, and liquid extracts. Amazing Herbs Nutraceuticals Inc (Amazing Herbs), Henry Lamotte Oils GmbH (Henry Lamotte), Hab Shifa, Organika Health Products Inc. Black seed oil in liquid form is a spicy oil that is used predominantly in culinary applications and salad dressings. Furthermore, being a rich source of omega-6 fatty acid named linoleic acid, black seed oil in liquid form is widely used in the preparation of numerous curries, soups, bakery products, sauces, marinades, and others.
The APAC region led the black seed oil market in 2020, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as improved growing methods and increased cultivating acreage for the plant. China and India are projected to contribute significantly to the growth of the market in APAC during the forecast period. The growing use of black seed oil in the nutraceutical and pharmaceutical industries is predicted to boost market revenue. Increasing consumption of functional meals enriched with natural ingredients, such as curries, soups, sauces, and bakery items, is predicted to drive the demand for black seed oil in the region throughout the forecast period.
Key Queries Addressed
CAGR of the market during the forecast period 2021-2025Detailed information on factors that will drive black seed oil market growth during the next five yearsPrecise estimation of the black seed oil market size and its contribution to the parent marketAccurate predictions on upcoming trends and changes in consumer behaviorThe growth of the black seed oil industry across APAC, Europe, North America, South America, and MEAA thorough analysis of the market’s competitive landscape and detailed information on vendorsComprehensive details of factors that will challenge the growth of black seed oil market vendors
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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