Carica Papaya Seed Oil Market by Application (Medicinal/skin care, Cosmetics, Chemicals, and others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2023

Global carica papaya seed oil market expected to reach USD 245 million by 2023, growing at a CAGR of 10.45% between 2018 and 2023. The market is mainly driven by the increasing acceptance of personal grooming products, the growing trend of herbal and ayurvedic cosmetics coupled with natural therapies, and rapidly evolving processed food industry.

21-May-2018 | Number of pages: 153 | Report Code: ZMR-2300 | Report Format : | Status : Published

Analysis

Carica papaya seed oil is oil extracted from papaya fruit seeds. Papaya oil is used as an anti-aging skin care agent. Papaya is a fruit of sweet taste with slightly musky flavor and soft consistency. The oil present in papaya seed is used in beauty and health agents as an important ingredient. As papaya seed oil exhibits high oleic acid content it can be also used as stable cooking oil.

Carica papaya seed oil acts as a strong antioxidant due to the high content of tocopherols and carotenoids. With a considerable amount of Vitamin C, the oil offers certain benefits of skin health such as improved skin elasticity, reduced wrinkles, and regeneration of skin cells. In addition, it also has hair care application. Papaya seed oil helps to retain elasticity and moisture of hair and add shine, sparkle, and silkiness to hair.

Increasing population and household income, improved standard of living, changing consumer preferences, increased use of organic and natural products for skin and hair care are the important factors that are driving the global carica papaya seed oil market. However, the lack of awareness about the benefits of carica papaya seed oil, especially among the consumers in the Asia Pacific and South America region may restrain the growth of the carica papaya seed oil market.

Global Carica papaya seed oil Market

Based on the application of carica papaya seed oil the market can be segmented into medicinal/skin care, cosmetics, chemical, and others; wherein the cosmetics segment is expected to experience the highest growth rate during the forecast period. This is due to growing awareness among people about personal grooming.

By geography, North America accounted for the largest portion of market share in terms of revenue in 2017 and is expected to grow at a moderate CAGR during the forecast period. The industry is expected to be driven by the growing disposable income, steady economic conditions, modern lifestyles, and high consumer spending on beauty products. In terms of revenue, North America was followed by Europe and the Asia Pacific in 2017.

Top companies in the global carica papaya seed oil market are Katyani Exports, Parchem Fine & Specialty Chemicals, Cosmark Pty Ltd., Grenera Nutrients Private Limited, Dupert Y Compania Limitada, Aromatic Ltd., Suyash Herbs Exports Private Limited, Lotus Garden Botanicals, R K Products, Augustus Oils Limited, and Botanical Beauty. Due to Innovations in oil extraction technologies and changing consumer preferences, vendors are expected to compete with each other for launching more innovative products during the forecast period.


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