GVR Report cover Black Seed Oil Market Size, Share & Trends Report

Black Seed Oil Market Size, Share & Trends Analysis Report By Product (Oil, Powder, Tablets, & Capsules, Soft Gel), By Application, By Region, And Segment Forecasts, 2022 - 2028

  • Report ID: GVR-4-68039-941-5
  • Number of Pages: 78
  • Format: Electronic (PDF)

Report Overview

The global black seed oil market size was estimated at USD 18.0 million in 2021 and is expected to expand at a CAGR of 7.2% from 2022 to 2028. The rising need to boost the immunity system, increasing consumer awareness, and the busy lifestyle of citizens are expected to promote market growth over the next few years. Consumer awareness of physical fitness and adoption of a healthy dietary lifestyle is driving consumer interest to include immunity-boosting elements in their daily diet, which will enhance the demand for black seed oil and encourage market growth. The remarkable features of black seed oil, such as its high content of copper, vitamin B, zinc, phosphorous, calcium, and folate, are anticipated to make it ideal for use as a daily dietary supplement, boosting demand for the product. Increased cases of chronic diseases and lifestyle disorders such as cholesterol, Alzheimer's disease, diabetes, heart difficulties, obesity, blood pressure, and others are predicted to shift consumer attention to organic therapies for addressing these conditions, boosting the market growth.

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

During COVID 19 pandemic and lockdown situation, governments of various countries restricted movements and citizens preferred to stay at home as a precautionary measure. Due to this, overall production and supply chains were disturbed. Thus, the market experienced a shortfall in worldwide sales due to the disturbed supply chains and reduced consumer demand. Though, citizens are more health-conscious and focused on improving their immune system to maintain fitness. Consumer awareness of the negative effects of chemical-based medicine formulations is projected to increase the demand for herbal formulations for treating health problems, which will improve the demand for black seed oil. Furthermore, as the worldwide population adopts a healthier diet, organic dietary supplements are projected to become more popular, driving market statistics upward throughout the forecast period. In addition, the rapid breakout of the COVID-19 pandemic has prompted consumers to seek out immunity-boosting supplements in order to enhance their resistance to infectious diseases, which in turn will boost the market outlook in near future. 

Black seed oil is extracted from Nigella Sativa seeds. The plant is also called black caraway, black cumin, nigella, or kalonji and can be offered as oil, powder, tablets, capsules, and soft gel. Nigella sativa is majorly cultivated in Southwest & Western Asia, the Middle East, North America, and Eastern Europe. Due to increased product demand from various applications such as medicine, cosmetic product formulations such as facial creams, face washes, body washes, body lotions, and functional foods, the black seed oil is likely to see significant growth throughout the forecast period. The simplicity of formulation and miscibility in diverse components are two factors that contribute to black seed oil's widespread use in a range of applications.

Furthermore, rising consumer awareness of the long-term negative effects of chemical-based products on human skin and scalp, as well as the rising prevalence of skin issues such as inflammation, acne, and psoriasis, is promoting the use of natural components such as black seed oil and boost the market growth in upcoming years. Pharmaceutical firms' increased attempts to limit the use of chemical-based ingredients in various medicine formulations could encourage the use of organically derived substances such as black seed oil in drug manufacture, hence increasing sales. However, a lack of consumer understanding of the product's health advantages, particularly in developing countries, may hamper the market's expansion.

Product Insights

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.

 Global black seed oil market share, by product, 2021 (%)

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.

Application Insights

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.

Regional Insights

The Asia Pacific contributed the largest market revenue of around 45% in 2021. Countries such as China and India are positively contributing to the growth of market revenue. The region is the origin of the Nigella sativa. Improved cultivation methods and increasing cultivation land of the plant are contributing to the growth of the market. Increasing applications of black seed oil as nutraceutical and pharmaceutical is expected to contribute more to the market revenue. Furthermore, the growing consumer preference for nutraceutical goods over pharmacological formulations for the treatment of various diseases may drive market trends in the area. Over the coming years, the demand for black seed oil is expected to witness strong growth, due to the rising consumption of healthy meals such as soups, sauces, curries, and bakery goods.

Europe is forecast to grow with the highest CAGR of 8.2% from 2022 to 2028. Countries such as Germany, the U.K., and France are positively contributing to the market revenue. Increased application of the product in the personal care and cosmetic industry has contributed to the growth rate. Additionally, the rising popularity of organic treatment for curing diseases is contributing to the growth rate. Furthermore, as the European population engages in more sports and physical fitness activities, demand for sports nutrition products and nutritional supplements is predicted to rise, boosting the regional market growth.

Key Companies & Market Share Insights

The market is characterized by the presence of various well-established players and several small and medium players. In January 2021, TriNutra introduced B’utyQuin which contains 3% thymoquinone black seed oil. The product is used for skincare and scalp care. Such initiatives are expected to boost the adoption rate of the product among consumers. The black seed oil manufacturers are aggressively following the organic as well as inorganic strategies to expand their footprints across the geography. Some of the prominent players in the 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

Black Seed Oil Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 18.84 million

Revenue forecast in 2028

USD 29.43 million

Growth rate

CAGR of 7.2% from 2022 to 2028

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; France, U.K.; China; India; Brazil; South Africa

Key companies profiled

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

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Segments Covered in the Report 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the black seed oil market on the basis of product, application, and region:

  • Product Outlook (Revenue, USD Million, 2017 - 2028)

    • Oil

    • Powder, Tablets, & Capsules

    • Soft Gel

  • Application Outlook (Revenue, USD Million, 2017 - 2028)

    • Personal Care & Cosmetics

    • Pharmaceuticals

    • Nutraceutical

    • Flavoring & Dressing

    • Culinary

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

    • Europe

      • Germany

      • France

      • U.K.

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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