Global Black Seed Oil Market By Product (Oil, Powder, Tablets & Capsules, and Soft Gel), By Application (Personal Care & Cosmetics, Pharmaceuticals, and Others), By Distribution Channel, By Region and Companies - Industry Segment Outlook, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the global black seed oil market was valued at USD 20.5 Million. This market is estimated to reach USD 41.9 Million in 2032 growing at a CAGR of 7.6% between 2023 and 2032. Black seed oil is a natural extract made from the seeds of Nigella Sativa that come from South Asia.

It has been consumed in traditional medicine for centuries to handle numerous health disorders which include reducing inflammation, boosting immunity,& aiding digestion. Black seed oil is a popular product due to its health benefits & the growing demand for organic and natural products.

Black seed oil comes in capsules, creams, oils, & creams. It has benefited several industries which include cosmetics, pharmaceuticals, and food & beverage.

Key Takeaways

1. Market Growth: The global Black Seed Oil market was valued at USD 20.5 million in 2022, and it is projected to reach USD 41.9 million by 2032. This growth is estimated to have a Compound Annual Growth Rate (CAGR) of 7.6% between 2023 and 2032.
2. Product Overview: Black seed oil is a natural extract made from the seeds of Nigella Sativa, primarily found in South Asia. It is available in various forms, including capsules, creams, oils, and more.
3. Driving Factors: Rising Interest in Natural Remedies Consumers’ growing interest in alternative medicine and natural remedies has increased the demand for black seed oil. Health Benefits Awareness of the health benefits of black seed oil has led to its increased use in pharmaceuticals, cosmetics, and food and beverage industries. Organic and Natural Products The demand for organic and natural products has contributed to the growth of the black seed oil industry.
4. Restraining Factors: Lack of Scientific Support Despite its traditional use, the lack of comprehensive scientific studies supporting its benefits has raised questions about the safety and effectiveness of black seed oil. Quality and Purity Concerns The quality and purity of black seed oil products can vary, leading to trust issues among consumers. Competition from Other Remedies Some consumers may prefer other natural remedies, limiting the market’s growth.
5. Product Segment Analysis: Among the various product forms, the oil segment dominates the market, with a projected CAGR of 7.6%. In 2022, it accounted for 65% of the total revenue share.
6. Application Segment Analysis: The pharmaceutical segment is the most lucrative in the global Black Seed Oil market, with a market share of 30% and a projected CAGR of 8.2% in 2022. It is used in treating conditions like asthma and weight management.
7. Distribution Channel Analysis: Online stores are the dominant distribution channel, with a market share of 35% and a projected CAGR of 7.5% in 2022. Online retail provides convenience and a wide selection of products.
8. Growth Opportunities: The increasing demand for organic and natural products, along with the rising popularity of online retail channels, offers growth opportunities for businesses in the Black Seed Oil industry.
9. Latest Trends: The market is witnessing a rise in demand for organic and non-GMO products, and black seed oil is becoming popular as a dietary supplement and in skincare products.
10. Regional Analysis: Asia Pacific is the dominant region in the global Black Seed Oil market, with China and India positively impacting market revenue. Improved cultivation methods and increased land for the plant are contributing to market growth in the region.
11. Key Players: Key players in the market include TriNutra Ltd., Z-COMPANY, The Kerfoot Group Limited, Sabinsa Corporation, FLAVEX Naturextrakte GmbH, and others. These companies are focusing on product innovation and expansion.

Driving Factors

Rising Interest in Natural Remedies Drives the Product Demand

The black seed oil industry is driven by a number of factors. First, consumers are becoming more interested in substitute medicine & natural remedies which has increased the demand for products such as black seed oil. Second, the benefits of black oil are becoming better known which has led to an increase in its use in the pharmaceutical, cosmetic, & food and drink industries.

Thirdly, organic & natural products have also contributed to the growth of the black seed oil industry. The availability of black oil products online has also contributed to the growth of the market. The growth of the black oil market is rising due to an increase in disposable income & the number of health-conscious consumers.

Restraining Factors

Lack of Knowledge About Benefits of Black Seed Oil

Black seed oil is a health product that has been used for centuries in traditional medicine. However, few scientific studies support its benefits. Although the oil has been used in traditional medicine for centuries, more research is required to fully understand its benefits & risks. The quality & purity can also vary thoroughly depending on the manufacturer.

This has led to questions about the safety & effectiveness of some products. The presence of natural remedies that some consumers may consider more effective may also limit the growth of black seed oil. The availability of substandard & counterfeit black seed oil products on the market is another challenge for the industry. This has led to a lack of trust among consumers.

By Product Analysis

The Oil Segment is Dominant

Based on the product, the market for black seed oil is segmented into oil, powder, tablets & capsules, and soft gel. Among these, the oil segment is the most lucrative in the global black seed oil market with a projected CAGR of 7.6%. The total revenue share of the oil segment is 65% in 2022.  The black seed oil has been used to treat health problems since ancient times.

It can be used as a cosmetic treatment. Black seed oil is used in many different ways which will increase its demand. The black seed oil segment will grow rapidly in the future due to its wide range of medical & nutraceutical applications. As the world population adopts healthier eating habits organic dietary supplement sales are expected to increase.

By Application Analysis

Pharmaceutical Segment is Dominant in the Global Black Seed Oil Market

By application, the market is further divided into personal care & cosmetics, pharmaceuticals, nutraceuticals, flavoring & dressing, culinary, and other applications. Pharmaceuticals are estimated to be the most lucrative segment in the global black seed oil market, with a market share of 30% and a projected CAGR of 8.2%, in 2022.

The increasing cases of obesity and asthma in the world. Many studies have shown that black seed oil is effective in treating asthma & managing weight in individuals. Black seed oil is used in cosmetics where it has skin rejuvenating properties. It is also added to food & beverages for its flavor as well as health benefits.

By Distribution Channel Analysis

The Online Store Distribution Channel is Dominant

Based on distribution channels, the market is segmented into hypermarkets/supermarkets, convenience stores, drug stores, online stores, and other distribution channels. Among these channels, online stores are estimated to be the most lucrative segment in the global black seed oil market, with a market share of 35% and a projected CAGR of 7.5%, in 2022.

Online stores enable consumers to purchase products from the comfort & convenience of their own homes. They also offer a wider selection of products. Online retailers also offer discounts & competitive prices which is another factor that drives the growth of online stores’ distribution channels.

Key Market Segments

Based on Product

• Oil
• Powder, Tablets & Capsules
• Soft Gel

Based on Application

• Personal Care & Cosmetics
• Pharmaceuticals
• Nutraceutical
• Flavoring & Dressing
• Culinary
• Other Applications

Based on the Distribution Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Drug Stores
• Online Stores
• Other Distribution Channels

Growth Opportunities

Growing Utilization of Black Seed Oil in Pharmaceuticals, Food & Beverage & Cosmetic Industries

Businesses in the black seed oil industry have several growth opportunities. The rising demand for organic & natural products is one of the main growth opportunities driven by the growing awareness of consumers about the health benefits of natural remedies. This trend is expected to continue leading to an increase in demand for black seed oils in the pharmaceutical, food & beverage, and cosmetic industries.

Online retail channels are also gaining in popularity which offers businesses the opportunity to reach a larger consumer base and increase their market share. The demand for black seed oil is expected to increase in the future due to research & development on the potential health benefits. Businesses can also differentiate themselves from their competitors by offering pure, organic, high-quality black seed oil. This can help build trust and loyalty among consumers.

Latest Trends

Rise in Demand for Organic & Non-GMO Products

The black seed market is always evolving. There are numerous trends that are reshaping the industry. One of the biggest trends is the rise in organic & non-GMO products as consumers become more conscious of their products & their impact on the environment. Black seed oil is also becoming more popular as a dietary complement with consumers including it in their daily health routines.

Black seed oil is also consumed in skincare products as the oil is served to have skin-rejuvenating properties. There is also a growing market for pure and high-quality black seed oil products. The black seed oil market is also focusing more on transparency and traceability as consumers demand more information about where the products are sourced and produced.

Regional Analysis

Asia Pacific is a Dominant Region in the Global Black Seed Oil Market

Asia Pacific is anticipated to be the most dominant region in the global black seed oil market with the largest market share of 45% in 2022 and is projected to register a CAGR of 7.7% during the forecast period. China and India have a positive impact on the market revenue. Nigella Sativa is native to this region.

The market is growing due to improved cultivation methods & increased land for the plant. The market revenue is expected to surge due to increasing applications of black seed oils as nutraceuticals & pharmaceuticals. The growing preference of consumers for nutraceutical products over pharmaceutical formulations to treat various diseases could also drive market trends.

Key Regions and Countries

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis:

The market is characterized as a mix of well-established players and a number of small & medium players. TriNutra launched B’utyQuin in January 2021. It includes 3% thymoquinone oil from the black seed. The product can be used for skin care & scalp care.

These initiatives are anticipated to surge the adoption of the product by consumers. Black seed oil manufacturers are aggressively pursuing both organic & inorganic strategy tactics to expand their footprints across the globe.

Market Key Players:

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

Recent Developments:

• In 2021, TriNutra released a new study that demonstrates the cardiovascular benefits of Setria (r) glutathione supplements. The study shows that Setria (r) supplementation improved the endothelial functions of healthy adults a key marker for cardiovascular health.
• In 2021, FLAVEX revealed that they launch a new line of botanical extracts designed to be consumed in plant-based alternatives to meat & dairy. The extracts offer authentic meat and milk flavors & aromas as well as functional qualities like texture improvement & emulsification.

Report Scope: