Black Seed Oil Market Size And Landscape Outlook Till 2028

Black Seed Oil Market Growth & Trends

The global black seed oil market size is expected to reach USD 29.43 million by 2028, registering a CAGR of 7.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness regarding health and dietary plans across the globe, adoption of herbal products instead of the chemical drug during treatment, and inclusion in daily diet as immunity booster are expected to promote the market growth over the next few years. Moreover, changing busy lifestyles has led to an increase in the demand for black seed oil to improve immunity. All these factors are expected to drive the global market in near future and create new business opportunities for market players to expand their product portfolio and drive revenue.

U.S. black seed oil market size, by Product, 2019 - 2028 (USD Million)

Black Seed Oil Market Segmentation

Grand View Research has segmented the black seed oil market on the basis of product, application, and region:

Based on the Product Insights, the market is segmented into Oil, Powder, Tablets, & Capsules and Soft Gel.

  • The oil segment dominated the market and contributed to the largest revenue share of over 65% in 2021 and is forecast to grow with the highest CAGR of 7.5% from 2022 to 2028. From the ancient era, black seed oil is used as medicine to treat many health-related problems. It can also be used for cosmetic treatments. Due to wide use cases of black seed oil, it is consumed more which in turn will drive the segment demand. Due to its range of nutraceutical and medical applications, the black seed oil segment is expected to witness strong growth over the coming years. Furthermore, as the worldwide population adopts a healthier eating style, organic dietary supplements are projected to become more popular, boosting the segment growth.
  • The soft gel segment is to grow with a significant CAGR of 7.1% from 2022 to 2028. The soft gel provides benefits such as greater stability and extends the life of the active ingredients of black seed oil. Soft gel is easy to use than conventional tablets and is used in numerous cosmetic and skincare products. Thus, this market segment is expected to grow over the forecast period.

Based on the Application Insights, the market is segmented into Personal Care & Cosmetics, Pharmaceuticals, Nutraceutical, Flavoring & Dressing, Culinary.

  • Nutraceutical application captured the largest market share and is forecast to grow with the highest CAGR of 8.2% from 2022 to 2028. The rising need to satisfy the daily need for dietary supplements in the body is expected to drive the segment. This oil is a rich source of vitamins and nutrients which improves the immunity system of the human body. Thus, the segment contributes the most and is expected to grow with the highest CAGR during the forecast period. Due to its antiviral and anti-inflammatory qualities, extensive research and clinical studies have demonstrated that black seed oil can help in the clearance of virus infection and lower the severity of infection. The potential use of black seed oil as a nutritional supplement, especially in the wake of COVID-19, is expected to provide attractive market growth prospects.
  • Personal care & cosmetics application is expected to witness strong growth and register a CAGR of 7.8% from 2022 to 2028. The anti-oxidant property of black seed oil has increased its applications of it in skincare and hair care in the cosmetic industry. It improves the skin tone and texture while acting as a skin protector. Products manufactured with black seed oil include high levels of antioxidants, which can help protect the skin from harmful environmental radicals. The black seed oil market estimates will be boosted by the ease of formulation and increased demand from various applications such as medication production, cosmetic formulations, functional foods, and others. Thus, the segment is expected to grow during the forecast period.

Black Seed Oil Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East and Africa (MEA)

Market Share Insights

  • January 2021: TriNutra introduced B’utyQuin which contains 3% thymoquinone black seed oil..

Key Companies Profile & Market Share Insights

The market is characterized by the presence of various well-established players and several small and medium players.

Some of the prominent players operating in the global black seed oil market include,

  • TriNutra, Ltd.
  • Z-COMPANY
  • The Kerfoot Group Limited
  • Sabinsa Corporation
  • FLAVEX Naturextrakte GmbH
  • Amazing Nutrition
  • Safa Honey Co.
  • ConnOils LLC
  • SanaBio GmbH
  • Manish Agro

Order a free sample PDF of the Black Seed Oil Market Intelligence Study, published by Grand View Research.

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