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Cardamom Industry Benchmarks
The average annual savings achieved in Cardamom category is 5.83%
The industry average payment terms in Cardamom category for the current quarter is 72.0 days
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Cardamom market report transcript
Cardamom Global Market Outlook
- The global cardamom market is estimated to grow at a CAGR of 3 percent and will show a growth of $168.87 million by the end of 2025. Indonesia and Guatemala are the top two producers, Guatemala and Nepal are the major export destinations
Impact of COVID-19 on Cardamom Industry
Cardamom price has traded low, due to market being disrupted by COVID-19, reduced demand, and slowdown in exports. With a bumper harvest in progress in India, there could be an oversupply of the spice. Hence, prices are expected to be low in the short term until demand picks up.
Although major supply countries, Indonesia and Guatemala, have relaxed restrictions, supply disruptions can be expected, as the shortage for shipping containers continue to remain a major concern in most countries.
Major suppliers in India and the US are facing challenges, owing to labor shortage and material movement, due to global supply chain issues. However, most suppliers are focusing on restoring their supply chain activities, thus, supply can be expected to revive starting from Q4 2021 onward.
Most FMCG companies are working on their supply chains to restrict shortage of supplies. Relaxation of lockdown and easing of supply chains, supplies are expected to be moderate.
Porter’s Five Forces Analysis on Cardamom Industry
The suppliers have better negotiation power, as they are fragmented players and volumes could be at risk. The intensity of rivalry is medium to high in the cardamom industry, as the product differentiation is less.
Due to demand for cardamom being high, owing to rising health benefits, suppliers have a higher negotiation power than buyers
Supply is based on favorable weather conditions for harvest and capacity of processing facilities
The suppliers are fragmented and volume is small from each buyer
Barriers to New Entrants
- Cardamom processing facilities require capital, equipment, and labor. Hence, the barriers to new entrants are medium to high
Intensity of Rivalry
Cardamom is majorly used in the food and beverage industries. The supply of cardamom depends on the yield related to harvest in favorable weather conditions
The rivalry in the cardamom industry is medium to high, as there are alternate substitutes available
Threat of Substitutes
Cardamom can be easily substituted by nutmeg, cinnamon, and allspice based on the recipe, as these are the closest to the flavor of cardamom
However, health benefits and aromatic properties provided by cardamom cannot be matched by its substitutes
The buyers of cardamom are the food & beverage companies, pharmaceutical, and personal care industries
Buyers do not influence the prices as much as the suppliers, due to prices being driven by seasonal and fundamental factors
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