Global Black Seed Oil Market Size, Share & Industry Trends Analysis Report By Application (Nutraceutical, Pharmaceuticals, Personal Care & Cosmetics, Flavoring & Dressing, and Culinary), By Product, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Black Seed Oil Market
Market Report Description
The Global Black Seed Oil Market size is expected to reach $27.6 million by 2028, rising at a market growth of 7.6% CAGR during the forecast period.
Nigella Sativa seeds are used to obtain black seed oil. The plant is also known as black caraway, nigella, black cumin, or kalonji, and it comes in a variety of forms, including oil, tablets, capsules, and soft gels. Southwest and Western Asia, North America, the Middle East, and Eastern Europe are the primary cultivators of Nigella sativa. The black seed oil market is expected to grow significantly over the forecast period owing to enhanced product demand from different applications like medicine, cosmetic product compositions like facial creams, body washes, body lotions, face washes, and functional foods. The ease of composition and miscibility of various components are two characteristics that lead to the wide usage of black seed oil in a variety of applications.
Additionally, growing consumer knowledge of the long-term negative consequences of chemical-based goods on human skin and scalp, and the increased incidence of skin issues like acne, inflammation, and psoriasis, is encouraging the utilization of natural ingredients like black seed oil, which is expected to drive market growth in the coming years. Increased efforts by pharmaceutical companies to reduce the usage of chemical-based chemicals in different medicine formulations may boost the utilization of organically produced substances like black seed oil in drug production, resulting in increased sales.
Over the next several years, the growing need to improve the immune system, expanding consumer awareness, and citizens' busy lifestyles are likely to drive market expansion. Increasing awareness among people about physical fitness and acceptance of a healthy dietary lifestyle is boosting consumer interest in immunity-boosting ingredients in their daily diet, stimulating demand for black seed oil and encouraging market growth. Black seed oil's unique properties, such as its high level of copper, vitamin B, zinc, calcium, phosphorous, and folate, are expected to make it excellent to be used as a common dietary supplement, increasing rising demand.
COVID-19 Impact Analysis
Due to the disrupted supply chains and lower customer demand, the market saw a drop in total revenue. Citizens, on the other hand, seem to be more health-conscious and concentrated on enhancing their immune systems in order to stay fit. Additionally, as the overall population follows a healthy diet, organic dietary supplements are expected to grow in popularity, propelling market statistics upward during the forecast period. Also, the rapid spread of the COVID-19 pandemic has led consumers to seek for immunity-boosting supplements to improve their sensitivity to infectious diseases, increasing the market outlook in the near future.
Market Growth Factors
Growing utilization of black cumin seed oil in pharmaceuticals and food industry
Black seed oil is an alternative medicine supplement that is often used to treat a variety of diseases. Asthma therapy, weight loss, and lower blood sugar and cholesterol levels can all benefit from black seed oil. Aside from that, some people take black seed oil supplements to treat a range of conditions, like arthritis, asthma, allergies, diabetes, and weight management. While some studies support health claims, the significant proportion of them are minor and involve further investigation. Because of the strong flavor, it is recommended that the oil be diluted with honey or lemon juice for consumption. It's usually roasted briefly prior being ground or utilized whole in bread or curry preparations.
Increase in the number of product launches by the key companies
With the market's expanding demand for black seed oil, it's become more necessary for vendors to produce high-quality black seed oil. Due to this, they've adopted cutting-edge technologies for extracting dark seed oil. To get best dark seed oil, technologically advanced extraction devices for dark cumin seed oil have already been developed. In addition, organizations have gained imaginative cold-press extraction procedures and advances in order to obtain high-quality dark cumin seed oil. The use of black seed oil in various applications is a major driving force in the black seed oil market. Black seed oil is increasingly being used in personal care and beauty products, pharmaceuticals, nutraceuticals, and culinary applications.
Market Restraining Factors
Absence of proper knowledge about benefits of black seed oil among people
The level of toxicity melanin in products containing black seed oil, an insufficient public awareness about the product and the accessibility of potential substitutes, are all aspects that could hinder the growth of the black seed oil market. Along with that, many people don’t have knowledge about existence of black seed oil along with its offered benefits, which is restricting the opportunities of the key market players. In addition, the availability of a wide range of other oils with better and high nutrition value would compel consumers to opt for products other than black seed oil.
Based on Application, the market is segmented into Nutraceutical, Pharmaceuticals, Personal Care & Cosmetics, Flavoring & Dressing, and Culinary. Pharmaceuticals segment witnessed a significant revenue share in the black seed oil market in 2021. It is due to the rising cases of asthma and obesity across the world. There are many researches that stated the benefits of black seed oil in the treatment of asthma along with the management of weight among individuals in the form of pharmaceutical.
Based on Product, the market is segmented into Oil, Powder, Tablets, & Capsules, and Soft Gel. The oil segment procured the highest revenue share in the black seed oil market in 2021. Black seed oil has been used to treat a variety of health issues since antiquity. It could also be utilized to remedy aesthetic issues. Because black seed oil has a wide range of applications, it is utilized more frequently, which would drive segment demand.
|Market size value in 2021||USD 16.8 Million|
|Market size forecast in 2028||USD 27.6 Million|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 7.6% from 2022 to 2028|
|Number of Pages||166|
|Number of Tables||280|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific emerged as the leading region in the black seed oil market with the largest revenue share in 2021. Countries like China and India are making a good contribution to market revenue growth. Nigella sativa originated in this region. The market is growing as a result of improved cultivation technologies and increased plant cultivation land. Increased use of black seed oil as a nutraceutical and medicinal ingredient is predicted to boost market revenue.
Free Valuable Insights: Global Black Seed Oil Market size to reach USD 27.6 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Henry Lamotte Oils GmbH, FLAVEX Naturextrakte GmbH, The Kerfoot Group Limited, Life Extension Foundation Buyers Club, Inc., NuVerus Corporation, BioPrep Solutions, Perrigo Company PLC, TriNutra, Ltd., Sabinsa Corporation, and ConnOils LLC.
Scope of the Study
Market Segments Covered in the Report:
- Personal Care & Cosmetics
- Flavoring & Dressing
- Powder, Tablets, & Capsules
- Soft Gel
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Henry Lamotte Oils GmbH
- FLAVEX Naturextrakte GmbH
- The Kerfoot Group Limited
- Life Extension Foundation Buyers Club, Inc.
- NuVerus Corporation
- BioPrep Solutions
- Perrigo Company PLC
- TriNutra, Ltd.
- Sabinsa Corporation
- ConnOils LLC
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