Persistence Market Research (PMR) published a report on the marula oil market, which includes the global industry analysis 2014 – 2018 and opportunity assessment 2019 – 2029. The report projects that the marula oil market is expected to reach ~ US$ 39 Mn by the end of 2019 in terms of value, and likely grow at a steady pace to reach ~ US$ 60 Mn by the end of 2029.
According to the report, increasing adoption of natural ingredients in cosmetics is contributing to the growth of the marula oil market through 2029. The demand for marula oil is increasing continuously and the demand-supply gap increases the turnaround time for marula oil. Adoption of new technology will provide the thrust to the production process of marula oil, and help fulfill the increasing demand for marula oil in 2019 and beyond.
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Consumers Prefer to Go ‘Natural’ When It Comes to Personal Care and Cosmetics
Cosmetic products, which include natural ingredients, are receiving tremendous amount of interest from consumers. Though cosmetic products with added chemicals are priced lesser, various side effects are associated with their usage. Natural ingredients are presumed to be harmless, as these are directly extracted from multiple plants, fruits, and vegetables. Marula oil, extracted from marula fruit, offers numerous benefits to cosmetic products. It is a natural antioxidant, which protects the skin from UV rays, pollution, and other external factors. Furthermore, advanced hydration to skin and hair is another added advantage of using marula oil in personal care products.
As consumers have become aware of harmful effects of chemicals added to cosmetic products, manufacturers are exploring naturally-sourced ingredients to retain their consumers. In addition, manufacturers are utilizing natural oils and natural extracts to enhance performance, especially in skin care products such as moisturizers, creams, and others. Marula oil is among the growing natural ingredients, which are used in the cosmetic industry due to the presence of skin beneficial properties. Furthermore, marula oil is extracted without the addition of any synthetic formula, which makes marula oil a fully-natural oil and suitable for use in the cosmetic industry.
Preference for Antioxidants in the Cosmetic Industry Pushing Marula Oil Demand
Antioxidants are gaining attention in the cosmetic industry as these offer efficient solutions for skin care. Antioxidants stop the oxidation process under which a compound loses electrons and this negatively affects the skin. This usually happens due to prolonged exposure to UV radiation, environment pollution, etc. Oxidation affects the skin by causing blackheads, wrinkles, loss of hydration, etc. Since consumers across the world are conscious regarding healthy and young skin, manufacturers are moving towards the usage of antioxidants in cosmetic products. Marula oil contains high antioxidant properties and comprises of vitamin E and C, which are capable of resisting the oxidation process.
Skin Care Products to Remain Top-selling Category with Profitable Opportunities
Marula oil is considered to be a health beneficial ingredient for skin care products. Marula oil is rich in antioxidants, and also holds anti-inflammatory and anti-bacterial properties, which offer protect the skin from various external factors. Moisturizers are among the most widely used skin care products among consumers, and marula oil is a favorable ingredient for use in these. Marula oil contains advanced hydration and high steric acid content, which is capable of balancing the moisture in skin. Furthermore, the growing consumer preference for anti-aging products is further creating opportunities for skin care products across the world. Marula oil is the perfect ingredient for anti-aging products as it reduces wrinkles from skin due to the presence of essential omega fatty acids. Skin care products are further segmented into facial skin care, face cleansers, body care, and sun protection. Among these, the demand for facial skin care products is thriving around the world. Consumers are demanding customization in facial skin care products, which is prompting manufacturers to develop products with unique. As marula oil comprises multiple skin beneficial properties, the usage of marula oil will increase in skin care products.
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Key Producers of Marula Oil
Marula Natural Products, SOUTHERN BOTANICA, The Marula Company, DLG Naturals, Gramme Products, Natural Sourcing, LLC, Afri Natural, African Botanics, Marula Guys, and African Exotic Oils.