In-Depth Look at the Global Black Seed Oil Market Trends and Growth Opportunities
According to a research report published by Spherical Insights & Consulting, the Global Black Seed Oil Market Size Expected to Grow from USD 19.68 Billion in 2023 to USD 41.56 Billion by 2033, at a CAGR of 7.76% during the forecast period 2023-2033.
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Black seed oil forms out of the Nigella sativa plant. It is native to Central and Western Europe and is more commonly referred to as black cumin flax or kalonji oil. It has seeds and oil that long remain and have been used in the ages for many different diseases throughout the world. The growing popularity of black seed oil is reflected in its various health benefits. It’s often used for the relief of various conditions such as asthma, high blood pressure, upset stomachs, and high cholesterol levels, as well as symptom relief in rheumatoid arthritis. The target market for black seed oil is expected to expand considerably during the study period, primarily owing to the numerous health benefits of black seed oil. However, black seed oil, in a small percentage of users, can cause dermatitis, hypotension, and skin reactions, which can affect the product’s acceptability in prospective customers. With melanin in high doses being toxic, the product would be anticipated to further limit use in the time frame under speculation.
Browse key industry insights spread across 241 pages with 104 Market data tables and figures & charts from the report on the Global Black Seed Oil Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Oil, Powders, Tablets & Capsules and Soft Gels), By Application (Pharmaceuticals, Personal Care & Cosmetics, and Food & Beverage), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Drug Stores, Online Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
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The oil segment dominates the market with the largest market share through the forecast period.
Based on the product type, the global black seed oil market is categorized into oil, powder, tablets & capsules, and soft gels. Among these, the oil segment dominates the market with the largest market share through the forecast period. The segmental growth is due to the easy formulation and excellent miscibility of different ingredients. Also, with the ever-growing trend toward healthy eating habits, consumers are increasingly resorting to black seed oil as cooking medium. Further, there is growing demand for black seed oil, propelled by increased awareness of the adverse effects of chemical-based products in cosmetics or medicinal formulations.
The pharmaceuticals segment is projected to grow at the fastest CAGR growth through the forecast period.
Based on the application, the global black seed oil market is categorized into pharmaceuticals, personal care & cosmetics, and food & beverage. Among these, the pharmaceuticals segment is projected to grow at the fastest CAGR growth through the forecast period. The growth is driven due to, pathogenic diseases are on the increase, while pharmaceuticals make up the largest percentage of government revenue collection. Thus, individuals consume mostly black seed oil-added oil or capsules that meet their nutrient and vitamin needs. Aside from this, different categories of consumers were lured to the market of natural remedies during the time of epidemic proportions.
The online stores segment accounted for the largest revenue share through the forecast period.
Based on the distribution channel, the global black seed oil market is categorized into hypermarkets/supermarkets, convenience stores, drug stores, online stores, and others. Among these, the online stores segment accounted for the largest revenue share through the forecast period. The growth is attributed to incredible market share and truly reflects an increased number and high percentage of consumers who prefer the convenience and access provided by online stores when searching for something as dear as black seed oil products. Online stores have now become an increasingly vital part of the distribution channels for black seed oil as the customer focuses on making shopping as easy as possible with much broader product selection and even comparing capabilities.
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Asia pacific is projected to hold the largest share of the global Black Seed Oil market over the forecast period.
Asia Pacific is projected to hold the largest share of the global black seed oil market over the forecast period. Increased market incomes such as that of China and India were positively impacting the Nigella sativa native nations. Improvements in plant-growing techniques and additional area under plant cultivation are contributing to the growth of the market. Black seed oil is anticipated to add to market revenue on the basis of increasing applications in medicinal and nutraceuticals.
Europe is expected to grow at the fastest CAGR of the global black seed oil market during the forecast period. Germany and the United Kingdom are some of the countries that contribute positively to market income. Furthermore, an increase in acceptance concerning organic therapy “as medicine in healing” speeds up the pace of expansion. More and more individuals in Europe will soon join sports and fitness activities, thus increasing sports nutrition and supplement market demand, which would eventually result in growth for this regional market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global black seed oil 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 global black seed oil market are Amazing Nutrition, ConnOils LLC, The Kerfoot Group Limited, TriNutra Ltd., Sabinsa Corporation, FLAVEX Naturextrakte GmbH, Safa Honey Co., The Kerfoot Group, SanaBio GmbH, Blackmores, Manish Agro, Omega Pharma, The Black Seed Oil Co., Nature’s Blends., Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In November 2023, TriNutra proudly announced the availability of its black seed oil in health supplements in Thailand. The oil is claimed to demonstrate health benefits similar to supplements, especially those that enhance cardiovascular health and immunity.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global black seed oil market based on the below-mentioned segments:
Global Black Seed Oil Market, By Product Type
- Oil
- Powder
- Tablet/capsules
- Soft gels
Global Black Seed Oil Market, By Application
- Pharmaceuticals
- Personal care & cosmetic
- Food & beverages
Global Black Seed Oil Market, By Distribution Channel
- Supermarket & hypermarket
- Convenience store
- Drug stores
- Online stores
- others
Global Black Seed Oil Market, By Regional
- 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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