The global maracuja oil industry size was nearly $2.1 billion in 2021 and is set to increase to about $5.4 billion by 2030 with a CAGR of nearly 10.01% between 2022 and 2030.
Maracuja Oil Market
The global maracuja oil market was valued at $2.1 billion in 2021 and is projected to reach $5.4 billion by the end of 2030. The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace. The report covers the geographical market along with a comprehensive competitive landscape analysis. Additionally, the report explores the investor and stakeholder space to help companies make data-driven decisions.
Maracuja oil is produced from the flowers and seeds of the passion plant, which is highly rich in minerals, antioxidants, vitamins, and fatty acids. It finds a large number of applications in cosmetics used for the rejuvenation of skin and hair. Passion plant is also known as Passiflora edulis. It is a vine species of passion flower which is native to Northern Argentina and Southern Brazil. It is cultivated on a mass scale in subtropical and tropical areas commercially. Maracuja oil is highly helpful in treating dry eyes as well.
The outbreak of the Covid-19 pandemic has severely impacted the growth trajectory of the global maracuja oil market and witnessed a steep decline in the overall demand for maracuja oil. During the pandemic, the rising prices forced customers to buy more raw materials from the market. However, the Covid protocols have also imposed shut down on manufacturing units and ban on travel & transport. Therefore, there was no production of oil during the pandemic, particularly in the first and second quarter of the Covid-19. But the lift of lockdown and declining Covid cases along with the modification in the import restrictions are expected to offer strong growth prospects in the global market in the forthcoming years.
Growing demand for plant-based ingredients will fuel the growth of the global market.
There has been high growth in demand for plant-based ingredients in recent years owing to the inclusion of a variety of plants used in the consumer network. Therefore, it is likely to propel the growth of the global maracuja oil market in the forthcoming years. Growing awareness among consumers regarding their health and wellness space is further escalating the market growth. There is an emerging wave of including natural products in the daily lives of consumers globally. Manufacturers are emphasizing extending their portfolio with organic products to expand their market base globally.
The growing disposable income of people all across the globe will also positively impact the growth of the global market as people are willing to pay higher prices for premium products. There is a significant spike in the application of maracuja oil due to its cosmetic advantages like hair conditioning, skin hydration, prevention of sunburn, and others. Growing awareness among people regarding its benefit on skin and hair is further likely to fuel its demand manifolds in the forthcoming years. The current environment is full of pollution and stress, thereby damaging skin and hair. The hectic lifestyle along with hypertension in many people is likely to promulgate the demand for oil globally. Manufacturers are constantly increasing their research and development activities to come up with innovative products in the market and generate huge revenue.
Supply chain bottlenecks are likely to hamper the growth of the global market.
Disruption in transportation is a massive dent across the whole supply chain. Dwindling demand from consumers for premium products is a key factor impacting the supply chain and thereby likely to hinder the growth of the global market.
Surging trend of online shopping is likely to open several new avenues in the global market.
There is a significant shift in the buying pattern of consumers. People nowadays are more inclined towards online shopping platforms on top of conventional and traditional retail stores. Such an emerging landscape is likely to hit the growth of the global market exponentially in the forthcoming years. The outbreak of the Covid-19 has positively impacted the global market in this space. Companies are coming up with an innovative strategy to swipe larger market areas in online market sales.
Requirement for advanced techniques to extract oil more efficiently is huge a challenge.
Manufacturers are looking for some efficient and innovative technology that can ease the process of extracting oil. Therefore, the lack of such advanced technology and machinery is a huge challenge in the global market.
The global maracuja oil market can be segmented into application, extraction method, and region.
By application, the market can be segmented into medical and cosmetic & personal care.
By the extraction method, the market can be segmented into hot and cold-pressed.
|Report Attributes||Report Details|
|Report Name||Maracuja Oil Market Research Report|
|Market Size in 2021||USD 2.1 Billion|
|Market Forecast in 2030||USD 5.4 Billion|
|Compound Annual Growth Rate||CAGR of 10.1%|
|Number of Pages||273|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Radha Beauty, Acure Organics, Bello Natural, Au Natural Organics Company, Leven Rose, Botanical Beauty Co., RejuveNaturals LLC, NutraMarks, Inc., Russell Organics, and Tarte, Inc.|
|Segments Covered||By Application, By Extraction Method and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2016 to 2020|
|Forecast Year||2022 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Some of the significant players in the global maracuja oil market include:
By Extraction Method
There has been high growth in demand for plant-based ingredients in recent years owing to the inclusion of a variety of plants used in the consumer network. Therefore, it is likely to propel the growth of the global maracuja oil market in the forthcoming years. Growing awareness among consumers regarding their health and wellness space is further escalating the market growth.
The global maracuja oil market was valued at $2.1 billion in 2021 and is projected to reach $5.4 billion by the end of 2030.
Some of the significant players in the global maracuja oil market include Radha Beauty, Acure Organics, Bello Natural, Au Natural Organics Company, Leven Rose, Botanical Beauty Co., RejuveNaturals LLC, NutraMarks, Inc., Russell Organics, and Tarte, Inc.
North America accounts for the largest share in the global maracuja oil market due to the high demand for maracuja oil among consumers in the region. The personal care sector is proliferating fast in the region, and thereby the growing inclination of people towards grooming products will further accentuate the growth of the regional market.