Caraway is also known as meridian fennel. It is among the most-used spices around the world in various cuisines. The seeds are used extensively in Asia Pacific region. Caraway is known to have a distinctly strong aroma. It belongs to umbelliferae family and a member of parsley. The caraway plants are cultivated particularly in North Africa, Europe, and minor regions of Asia. The seeds are known to have volatile oil that contains compounds for example carvone, limestone, thujole, pinen, and furfole.
Transparency Market Research has recently published a report, titled “Caraway Seed Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024” Due to its peppery and warm aroma, along with its medicinal benefits, the caraway seeds are used in several cuisines in especially Mediterranean and European dishes. These seeds are also used in various personal care products. The global caraway seeds market is anticipated to expand at a healthy CAGR within the forecast period of 2016-2026.
The prime factor adding to the rising demand for caraway seeds is growing demand for its end-use products, which incorporates different cosmetics and food and beverages. Additionally, rise in globalization in foods is another factor in charge of driving revenue in the global caraway seeds market. Increased utilization of spiced breads, particularly ryle bread is one of the key factor driving the demand for caraway seeds. A significant share of liquor additionally utilizes caraway seeds in some or the other form, and with the improved living standards utilization of alcohol is foreseen to rise converting into rising demand for caraway seeds. Rise in demand for caraway seed supplements, for example, fennel, anise, and cumin, is another main consideration driving the growth of caraway seeds market. Moreover, as the popularity for beautifying agents and individual care items increases; caraway seeds which are frequently used to bestow aroma components in lotions, soaps, and perfumes will undoubtedly witness growing demand. Alongside, as the awareness about several\ medical advantages of caraway seeds rises, it is foreseen that various cuisines will include caraway based ingredients at some point.
Based on geography, the global caraway seed market is categorized into the North America, Western Europe, Latin America, and Eastern Europe, Japan, Asia Pacific, and the Middle East and Africa. Among these, Western Europe and Asia Pacific is dominating the global caraway seed market. The improvement in standard of living, in Latin America and Asia Pacific region, along with increased penetration of European and Mediterranean in South East Asia nations and India are major factors surging the demand in Asia Pacific region rapidly in coming years. In the Middle East and Africa region, there seems to be a significant demand for caraway seeds. Moreover, demand for seasoned food in Latin America one more important factor behind the rise in demand for caraway seeds in Latin America region.
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Schwartz (McCormick & Company, Inc)., Nordic Caraway, Bishnoi Trading Corporation, Kingherbs Limited, The Spice Trader, Aditya Agro Industries, Kalbey India Exim, Sleaford Quality Foods Ltd., Midtown Mojo Manufacturers, Satyom Enterprises are some of the players operating in global caraway seeds market.