10-May-2022 | Zion Market Research
The global Carica Papaya Seed Oil market was worth around USD 143.2 million in 2021 and is estimated to grow to about USD 257.8 million by 2028, with a compound annual growth rate (CAGR) of approximately 10.3 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Carica Papaya Seed Oil that is extracted from seeds of papaya fruit is highly beneficial for multiple applications as it is rich in antioxidants and omega fatty acids that are highly popular in natural and organic skin care products. The carica papaya seed oil is also beneficial for hair as it gives the hair a shine and strong look making it better.
The increasing popularity of natural and organic skin care products among the general population will drive the demand for carica papaya seed oil and other natural ingredients over the forecast period. The increasing disposable income of the population and rising spending on personal care and cosmetic products are expected to be other factors that prominently drive the carica papaya seed oil market growth through 2028. Demand from North America and Europe is also expected to be high by the end of the forecast period as increasing awareness of the benefits of zzz becomes a common practice.
However, the lack of awareness of the benefits of use of carica papaya seed oil is expected to majorly hinder the carica papaya seed oil market potential in the long run. Carica papaya seed oil companies are expected to deploy strategies to increase awareness and generate more sales in order to boost revenue generation potential over the forecast period.
In 2020, the carica papaya seed oil market experienced a negative growth trend and this led to major losses for carica papaya seed oil manufacturers across the world. Lockdowns that were put in place to contain the spread of coronavirus infections led to an adverse impact on multiple aspects of business and this led to the downfall of Carica papaya seed oil market potential as well.
The carica papaya seed oil market is expected to make a good recovery in the post-pandemic era as the restrictions are lifted and the world returns to normal. The carica papaya seed oil market is projected to see high demand for medicinal and skin care uses owing to the rising popularity of organic and natural skin care products across the world.
The global Carica Papaya Seed Oil market is segregated based on type, application, and region. Based on application, the global market is distinguished into Medicinal/skin care, Cosmetics, chemicals, and Others. The medicinal and skincare segment is predicted to be the most lucrative segment in the global carica papaya seed oil market landscape. The increasing use of carica papaya seed oil in cosmetic and personal care products will boost the market potential in this segment over the forecast period.
Asia Pacific region is expected to hold a dominant outlook in the global Carica Papaya Seed Oil industry landscape and this can be majorly attributed to high demand from the nations of India and China. These two countries will boost the Carica papaya seed oil market potential in the Asia Pacific region as India is a leading producer of carica papaya seed oil and consumer as well. Increasing disposable income and rising demand for organic personal care and cosmetic products are expected to propel the demand for Carica papaya seed oil in these nations over the forecast period.
Key players functioning in the global Carica Papaya Seed Oil market include Parchem Fine & Specialty Chemicals Cosmark Pty Ltd., Grenera Nutrients Private Limited, Dupert Y Compania Limitada, Aromatic Ltd., Katyani Exports, Lotus Garden Botanicals, R K Products, Suyash Herbs Exports Private Limited, Augustus Oils Limited, Botanical Beauty.
Browse the full “Carica Papaya Seed Oil Market By Type (Origin Type, Refined type), By Application (Medicinal/skin care, Cosmetics, Chemical, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/carica-papaya-seed-oil-market
Global Carica Papaya Seed Oil market is segmented as follows:
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