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.
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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.
Key Insights
● As per the analysis shared by our research analyst, the global maracuja oil market is estimated to expand annually at a CAGR of around 10.01% over the forecast period (2022-2030)
● In terms of revenue, the global maracuja oil market was valued at nearly $2.1 billion in 2021 and is anticipated to hit $5.4 billion by 2030
● The market is projected to expand at a significant rate during the forecast period owing to rapid industrialization witnessed in the emerging economies
Covid-19 Impact
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.
This research report categorizes the Maracuja Oil market based on product type, Application, and region.
On the basis of product type:
● Cold-Pressed
● Hot-Pressed
On the basis of Application:
● Cosmetic
● Other
The key players in the Maracuja Oil market include
● Radha Beauty
● Au Natural Organics Company
● Russell Organics
● Acure Organics
● Bello Natural
● Leven Rose
● NutraMarks Inc
● Botanical Beauty Co
● RejuveNaturals LLC
● Tarte Inc
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Maracuja Oil Market: Regional Landscape
● 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. However, the demand for clean label products will also fuel the demand for maracuja oil in the market.
● Asia Pacific is expected to be the fastest-growing region in the global market due to the growing disposable income of the people in the region. Furthermore, the growing interest of people in personal and grooming products will further complement the growth of the regional market.
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