Soaring Demand for Clean Label and Organic Products to Aid Market Growth
Evolving consumer trends, growing awareness related to health wellness, and consistent rise in the demand for natural products are some of the key factors that are defining the course of the food beverages and the cosmetics industries. As more number of consumers are opting for natural and clean label products, fruits and vegetable extracts are increasingly being used in an array of applications.
Over the past decade, passionfruit seed oil has emerged as one of the most promising and appealing products due to which, the demand is witnessing consistent growth worldwide. In addition, the growing consumer appetite for organic products is another factor that is likely to propel the passionfruit seed oil market during the forecast period.
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In the current digital era, social media platforms have played an imperative role in creating awareness regarding the potential benefits of passionfruit seed oil due to which, sales of passionfruit seed oil continue to move in the upward direction. While the adoption of passionfruit seed oil is relatively higher in South America and Europe, the popularity levels across the Asia Pacific are gradually rising.
Several participants operating in the current passionfruit seed oil market are expected to focus on curating effective marketing campaigns to expand their market share in the upcoming years. The glaring benefits of passionfruit seed oil in improving the quality of hair and skin are some of the top factors that are projected to influence the expansion of the global passionfruit seed oil market, which is expected to attain a market value of US$ 3.7 Bn by the end of 2030.
Consumer Willingness to Pay Premium Prices for High Quality Skin and Hair Care Products to Drive Global Market
Over the past decade, due to the positive economic outlook across the world and increase in the disposable income levels particularly in the developing regions, consumers are increasingly willing to pay premium prices for top quality hair and skincare.
This trend is likely to continue over the stipulated timeframe of the study and possibly gather even more momentum due to the influence of social media marketing and conventional marketing campaigns. As the demand for natural, organic, and clean label products continues to grow at an impressive pace around the world, the passionfruit seed oil market is staring at a bright future.
Passionfruit Seed Oil Market: Players
- Key players operating in the market, as profiled in the study, include
- AU Natural Organics
- Eternal Essence Oi
- HB Oils Center Co.
- Hollywood Beauty
- Henry Lamotte OILS GmbH
- Leven Rose
Passionfruit Seed Oil Market: Overview
- The global passion fruit seed oil market is anticipated to be cross US$ 2.2 Bnin 2020. By the end of 2030, the market is likely to cross US$ 3.7 Bn by Through the course of the forecast period, it is likely to expand at a CAGR of 5.4%, finds Transparency Market Research (TMR) in a recent study.
- Passionfruit seed oil has anti-inflammatory and antioxiditive properties that are helpful for skin and hair care. It is the one of the enabling growth in the market across the globe. In addition, increasing usage of passionfruit seed oil in cosmetology application is proving favorable for the market’s growth.
- The steadily rising popularity of clean label products, along with the rising awareness about medicinal properties of passionfruit seed oil are propelling growth of passionfruit seed oil market. Increasing popularity of vitamin-rich and healthy passion fruit seed oil will boost the market.
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Passionfruit Seed Oil: Market Frontrunners
- In terms of nature type, conventional sub-segment is leading in 2020with a share of 85%. The other organic sub-segment accounts for 15% of the market in terms of value.
- Based on grade type, the refined segment is currently leading the global market followed by the unrefined segment. The refined segments accounts for4%and unrefined sector accounts for 39.6% of the market, respectively, on the basis of value in 2020.
- Based on region, North America has dominance in the global passionfruit seed oil market followed by excluding Japan, Europe, and Oc
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