The new report by Expert Market Research titled, Global Black Seed Oil Market Outlook, Share, Size, Growth, Trends, Report and Forecast 2023-2028, gives an in-depth analysis of the global black seed oil market, assessing the market based on its segments like form, distribution channel, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 2%
The global black seed oil market is expected to witness a significant boost due to the increased use of natural ingredients in the pharmaceutical and skincare industry. The black seed oil has various health benefits and is thus used in medication for the treatment of diseases like asthma, headaches, diabetes, and allergies.
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The black seed oil is also being used in the treatment of tumours in rats, which will fuel the market growth in the forecast period. Black seed oil contains various nutrients and vitamins, along with low calories, due to which it is used in cooking and for flavouring purposes.
The growing demand for high quality natural ingredients in bakeries to formulate functional foods is also likely to boost the market growth of black seed oil.
Black Seed Oi Industry Definition and Major Segments
Black seed oil refers to essential oil, which is extracted from cumin seed, variously known as Nigella sativa.
A major component of black seed is thymoquinone, a compound that has antioxidant properties. It is commonly used as a spice and in herbal medicines. It also finds its use in the cosmetics, pharmaceutical, food and beverage industries.
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On the basis of form, the market is segmented into:
The market can be divided into the following, based on the distribution channel:
- Convenience Stores
- Drug Stores
Based on application, the market can be categorised into:
- Personal Care and Cosmetics
- Flavours and Dressing
The regional markets for black seed oil include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Black Seed Oi Market Trends
There is an increased emphasis on manufacturing and obtaining high quality and standard black seed oil by many vendors and companies due to the growing demand for black seed oil-based products and supplements worldwide. This trend is expected to continue over the forecast period as well, further boosting the market growth in the upcoming years. Companies have developed and adopted innovative and high precision technologies to produce and extract black seed oil.
Innovative extraction units have also been launched to achieve high quality black seed oil. Technological advancements in the black seed oil market are on the emerging trend, which will positively impact the whole black sed oil market in the forecast period.
Key Market Players
The major players in the market include Henry Lamotte Oils GmbH, ConnOils LLC, The Blessed Seed, Organika Health Products Inc., and Axpo Pty Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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