New York, United States , July 15, 2024 (GLOBE NEWSWIRE) -- The Global Black Seed Oil Market Size is to Grow from USD 19.68 Billion in 2023 to USD 41.56 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.76 % during the projected period.
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Nigella sativa, a native plant of Central and Western Europe, yields black seed oil, often known as kalonji oil or black cumin seed. Through the centuries, its oil and seeds have been utilized to treat a wide range of illnesses worldwide. Black seed oil, which is also utilized in complementary medicine, has become more widely accepted for use in soups, curries, meat dishes, and other culinary preparations because of its flavor and fragrance. It improves insulin sensitivity, lowers blood pressure, prevents cancer, and helps with pain relief, among many other benefits. In addition to its anti-inflammatory and antioxidant properties, black seed oil is beneficial for skincare, the immune system, and possibly even cardiovascular health. Due to its many health benefits, black seed oil is growing more and more popular. Black seed oil helps with asthma, upset stomach, high blood pressure, high cholesterol, and rheumatoid arthritis symptoms in addition to alleviating the latter. The many health advantages of black seed oil are likely the main factor driving the target market's growth over the projected timeframe. However, the product's perceived popularity with consumers can be impacted by the rare cases of dermatitis, hypotension, and skin reactions that black seed oil may cause in a small percentage of users.
Browse key industry insights spread across 200 pages with 110 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 is anticipated to hold the greatest share of the global black seed oil market during the projected timeframe.
On the basis of product type, the global black seed oil market is divided into oil, powder, tablets & capsules, and soft gels. Among these, the oil segment is anticipated to hold the greatest share of the global black seed oil market during the projected timeframe. The oil category is growing because of its easy formulation and compatibility with many additives. In addition, an increasing drive toward better eating habits has led to clients preferring black seed oil as a cooking medium.
The pharmaceuticals segment is anticipated to grow at the fastest pace in the global black seed oil market during the projected timeframe.
On the basis of application, the global black seed oil market is divided into pharmaceuticals, personal care & cosmetics, and food & beverage. Among these, the pharmaceuticals segment is anticipated to grow at the fastest pace in the global black seed oil market during the projected timeframe. The majority of market income was generated by the pharmaceuticals segment, which is growing in several chronic conditions. Due to this, the majority of individuals consume black seed oil-enriched oil or supplements, which can meet their requirement for extra vitamins and nutrients.
The online stores segment is predicted to grow at the highest pace in the global black seed oil market during the estimated period.
On the basis of distribution channels, the global black seed oil market is divided into hypermarkets/supermarkets, convenience stores, drug stores, online stores, and others. Among these, the online stores segment is predicted to grow at the highest pace in the global black seed oil market during the estimated period. This significant market share is indicative of consumers' growing preference for the ease of use and accessibility that online stores provide when searching for products containing black seed oil.
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Asia Pacific is expected to hold the largest share of the global black seed oil market over the forecast period.
Asia Pacific is expected to hold the largest share of the global black seed oil market over the forecast period. Regions such as China and India are contributing favorably to the increase in market income. This region is the native home of Nigella sativa. Better plant-growing methods and increased land devoted to plant production are driving market expansion. The market revenue is expected to rise due to the increasing usage of black seed oil in medical and nutraceutical applications.
Europe is predicted to grow at the fastest pace in the global black seed oil market during the projected timeframe. The UK, Germany, France, and other countries all have positive effects on market revenue. The rate of increase is also being accelerated by the increasing acceptability of organic remedies as a technique for curing ailments.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global 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. and Other Key Vendors.
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Recent Developments
- In February 2023, ThymoQuin is a product of TriNutra, one of the leading suppliers of cold-pressed black seed oil with a 3% thymoquinone standard, and it follows all of the rigorous requirements outlined by the US Pharmacopeia – National Formulary. By confirming ThymoQuin's exceptional quality and purity, these accomplishments cemented its position as a premium component.
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
- Tablets & Capsules
- Soft Gels
Global Black Seed Oil Market, By Application
- Pharmaceuticals
- Personal Care & Cosmetics
- Food & Beverage
Global Black Seed Oil Market, By Distribution Channel
- Hypermarkets/Supermarkets
- Convenience Stores
- Drug Stores
- Online Stores
- Others
Global Black Seed Oil Market, By Regional
-
- 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 Middle East & Africa
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