Global Babassu Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global babassu oil market in its upcoming report titled, “Global Babassu Oil Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global babassu oil market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global babassu oil market report has been segmented on the basis of product, application, and region.
Babassu oil also known as cusi oil is a vegetable oil extracted from seeds of the babassu palm (Attalea speciosa), which grows in the Amazon region of South America. This non-drying oil is use in food, cleaners, and skin products. Babassu oils properties are similar to coconut oil. It is a good source of vitamin E which protects against toxins such as eye disorders, neurological diseases like Alzheimer’s disease, and diabetes, etc. It contains phyto sterols or plant sterols which helps to lower cholesterol absorption in body.
Increasing demand for babassu oil in various applications ranging from food to pharmaceutical is a key factor expected to drive growth of the global market over the forecast period. In addition, babassu oil act as a substitute for coconut oil in various applications such as cooking and backing, due to its similar properties is expected to fuel growth of the target market. Moreover, babassu oil is used as a biodiesel in numerous industrial applications and in cosmetic segment as a skin moisturizer, which are other factors expected to support growth of this market in the near future.
However, lack of awareness regarding the health benefits of babassu oil among individuals is a key factor expected to restrain growth of the global market over the forecast period. In addition, easy availability of coconut oil as compare to babassu oil in developing countries is another important factor expected to hamper growth of the target market in the near future.
Ongoing trend observed in the market is increasing use of babassu oil as a substitute for coconut oil in food industry due to its similar properties.
The market in North America dominates the global market in terms of revenue over the forecast period, owing to increasing usage of babassu oil in cosmetics due to its properties to smooth and soften hair & skin in various countries especially in the US. The market in South America accounts for highest market share in the market, owing to suitable climatic conditions needed for farming babassu and easy availability of raw material at low cost in countries in this region. This is an only region which manufactures and supplies babassu oil worldwide. The market in Asia Pacific is expected to witness moderate growth, owing to increasing demand for babassu oil due to its similar properties like coconut oil in emerging economies of China and India in this region.
Global babassu oil market segmentation:
Segmentation by product:
- Organic Babassu Oil
- Conventional Babassu Oil
Segmentation by application:
- Pharmaceuticals & Medical
- Food Industry
- Personal Care & Cosmetics
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Mielle Organics
- ANITA GRANT
- Adorable Inc.
- LABORATOIRE CENTIFLOR
- Sheabutter Cottage
- Other prominent players
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