Maracuja Oil Market Expected to Reach $4,220.5 Million by 2032--Allied Market Research

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Mar 07, 2024, 05:26 ET

Innovations in formulations based on maracuja oil will result from ongoing research and development initiatives. Companies may experiment with novel combinations of complementary substances to improve performance and efficacy while treating particular skincare problems. Such innovations will stimulate consumer interest and accelerate market expansion

PORTLAND, Ore., March 7, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Maracuja Oil Market by Nature (Organic and Conventional), by Application (Cosmetics & Personal Care, Food & Beverage, and Others), and by Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global maracuja oil market was valued at $1,670.0 million in 2022, and is projected to reach $4,220.5 million by 2032, registering a CAGR of 10.1% from 2023 to 2032.

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Prime determinants of growth

The growing demand for organic and natural products is driving the growth of the maracuja oil market. However, the growth of the maracuja oil market is restricted by the limited availability of products in different regions. On the other hand, expanding markets in emerging economies present remunerative opportunities for the expansion of maracuja oil during the forecast period.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$1,670.0 million
Market Size in 2032	$4,220.5 million
CAGR	10.1 %
No. of Pages in Report	250
Segments Covered	Nature, Application, and Distribution Channel
Drivers	• Growing Demand for Natural and Organic Products • Rising Awareness of Skincare Benefits • Cosmetic and Personal Care Industry Growth
Opportunities	• Rising Popularity in Emerging Markets • Product Innovation
Restraints	• Limited Geographic Availability • Quality Concerns

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The conventional segment to maintain its leadership status throughout the forecast period

By nature, the conventional segment held the highest market share in 2022, accounting for two-thirds of the maracuja oil market revenue and is estimated to maintain its leadership status throughout the forecast period. The growing desire for natural and sustainable beauty products is driving growth for the conventional maracuja oil segment. The organic segment, however, showcases the fastest CAGR of 10.4% during the forecast period. The organic maracuja oil segment is driven by increasing consumer demand for natural and chemical-free skincare solutions.

The cosmetics and personal care segment to maintain its leadership status throughout the forecast period

By end user, the cosmetics and personal care segment held the highest market share in 2022, accounting for nearly half of the maracuja oil market share and is estimated to maintain its leadership status throughout the forecast period. Consumer demand for natural, plant-based ingredients is driving growth in the maracuja oil market in the cosmetics and personal care industry. The food and beverage segment, however, showcases the fastest CAGR of 10.5% during the forecast period. Due to its distinctive flavor and beneficial nutritional profile, maracuja oil is being used more in the food and beverage sector. It adds a tropical texture and possible health benefits to food preparations.

The offline segment to maintain its leadership status throughout the forecast period

By distribution channel, the offline segment held the highest market share in 2022, accounting for more than three-fourths of the maracuja oil market revenue and is estimated to maintain its leadership status throughout the forecast period. Increased offline sales are a result of the growing trend of specialized retailers, health and wellness stores, and beauty salons marketing natural skincare products. The online segment, however, showcases the fastest CAGR of 10.4% during the forecast period. The maracuja oil market gains from the online distribution channel by using e-commerce platforms to enhance market accessibility and growth by reaching a wider audience, offering product information, and facilitating quick transactions.

North America region to maintain its leadership status throughout the forecast period

By region, the North America region held the highest market share in 2022, accounting for more than two-thirds of the maracuja oil market revenue and is estimated to maintain its leadership status throughout the forecast period. The growing consumer demand for sustainable and natural skin care products is fueling the expansion of the maracuja oil market in North America. Opportunities include diversifying product lines with innovative formulas, reaching a larger audience through e-commerce, and forming smart alliances with cosmetic retailers. The Asia-Pacific region, however, showcases the fastest CAGR of 11.0% during the forecast period. The increased desire for natural and chemical-free skincare products is one of the main reasons driving the expansion of the maracuja oil market in the Asia-Pacific region. Customers are choosing natural substitutes for synthetic ones as they become more aware of the components in beauty products.

Leading Market Players: -

Tarte Cosmetics
Josie Maran Cosmetics
Sunday Riley
Drunk Elephant
Kiehl's
Herbivore Botanicals
Ole Henriksen
Farsali
Pacifica Beauty
Fresh

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The report provides a detailed analysis of these key players in the maracuja oil market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Similar Reports We Have on Consumer Goods Industry: -

Cosmetics Market growing at a CAGR of 7.1% from 2023 to 2032
Feminine Hygiene Products Market registering a CAGR of 6.1% from 2021 to 2030
Organic Personal Care and Cosmetic Products Market is estimated to reach $58,615.6 million by 2031
Sustainable Personal Care Market Expected to Reach $129.7 Billion by 2031
Snail Beauty Products Market growing at a CAGR of 8.3% from 2022 to 2031

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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