The Caraway Seeds Global Market Report 2023, provides comprehensive information on the caraway seeds market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Caraway Seeds Global Market Report 2023, the market size is expected to grow from $1.58 billion in 2022 to $1.68 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global caraway seeds market size is expected to reach $2.17 billion in 2027 at a CAGR of 6.6%.
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The increasing demand for organic food products is expected to propel the growth of the caraway seed market. Caraway seeds are known for their unique flavor and potential health benefits, which make them a popular ingredient in various organic food products. For instance, in May 2021, according to the report published by the Organic Trade Association, a US-based non-profit business association that represents organic agriculture and trade, the U.S. organic food market witnessed an unprecedented surge in sales, reaching a new record of $61.9 billion in 2020, with an increase of 12.4% compared to the previous year. Demand for organic products increased in nearly every category, leading to a remarkable growth of 12.8% in U.S. organic food sales, amounting to a new record of $56.4 billion. The organic segment accounted for almost 6% of the total food sales in the United States in 2020, indicating a significant shift in consumer preferences towards organic and natural food products. Therefore, increasing demand for organic food products is driving the growth of the caraway seed market.
The caraway seeds market is segmented:
1) By Form: Whole Seed, Powder
2) By Sales Channel: Online, Offline
3) By Application: Food, Pharmaceuticals, Beverages, Cosmetics, Other Applications
Europe was the largest region in the caraway seeds market in 2022.
The table of contents in TBRC’s caraway seeds market report includes:
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Top Major Players
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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