Maracuja Oil Market Size, Share, Forecast 2030

Industry Perspective:

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 Market: Overview

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
• Based on application, the medical segment accounted for the largest market share in 2021
• On basis of extraction method, the cold pressed segment to contribute majorly towards the overall market share during the forecast period
• On the basis of region, the North American region is predicted to be a key revenue generator for the global market over the forecast timeline

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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.

Maracuja Oil Market: Growth Drivers

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.

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Maracuja Oil Market: Restraints

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.

Maracuja Oil Market: Opportunities

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.

Maracuja Oil Market: Challenges

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.

Maracuja Oil Market: Segmentation

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.

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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.

Maracuja Oil Market Report Scope:

Maracuja Oil Market: Competitive Landscape

Some of the significant players in the global 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.

Global maracuja oil market is segmented as follows:

By Application

• Medical
• Cosmetics and Personal Care

By Extraction Method

• Hot Pressed
• Cold Pressed

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa