Maracuja Oil Market

Innovations in formulations based on maracuja oil will result from ongoing research and development initiatives

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, March 15, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Maracuja Oil Market," The maracuja oil market size was valued at $1.7 billion in 2022, and is estimated to reach $4.2 billion by 2032, growing at a CAGR of 10.1% from 2023 to 2032. Originating from the seeds of the passion fruit, maracuja oil is a multipurpose cosmetic ingredient that is highly prized for its abundance of vital fatty acids and antioxidants. It is frequently used in skincare products like serums and moisturizers and is well-known for its anti-inflammatory and hydrating qualities. Maracuja oil is a popular choice for encouraging a healthy complexion as it revitalizes the skin. It is also used in hair care products due to its lightweight design, which increases maracuja oil market demand in the beauty sector. The market presence of maracuja oil has been further enhanced by the growing interest in organic and natural skincare products.

The expansion and popularity of maracuja oil in the beauty and cosmetics sector are attributed to several variables that collectively influence the market dynamics. Firstly, a major driver has been the growing inclination among consumers for natural and organic skincare products. Maracuja oil fits perfectly with the growing trend for clean beauty due to its natural composition and range of skincare advantages. Another significant attribute of maracuja oil is its adaptability. It meets a variety of skincare requirements by providing anti-inflammatory advantages for sensitive skin and hydrating qualities for dry skin. Due to its adaptability, it is now used in more beauty products, such as moisturizers, anti-aging formulas, and facial serums.

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The efforts of beauty and cosmetic manufacturers to satisfy the increasing demand for sustainable and environmentally friendly products also influence market dynamics. The passion fruit is the source of maracuja oil, which is growing in popularity as it is frequently seen as an environmentally friendly option. Moreover, the impact of e-commerce and digital platforms cannot be neglected. Online channels have made maracuja oil-based products more easily accessible to a larger customer base, which has increased their visibility and sales. These maracuja oil market trends are creating maracuja oil market opportunities.

According to maracuja oil market statistics, the maracuja oil market is analyzed on the basis of nature, application, distribution channel, and region. On the basis of nature, the market is bifurcated into organic and conventional. Among these, the conventional segment occupied the major maracuja oil market share in 2022 and is projected to maintain its dominance during the maracuja oil market forecast period. The popularity of maracuja oil is being fueled by consumers' growing desire for eco-friendly and chemical-free alternatives. Important developments include its use in moisturizers, hair care products, and anti-aging formulas. The market is also benefiting from growing consumer knowledge of the moisturizing and antioxidant qualities of maracuja oil. Due to the popularity of this natural and versatile ingredient in skincare and hair care products, the conventional maracuja oil segment is expected to continue growing as sustainability gets traction in the beauty sector.

On the basis of application, the maracuja oil market is divided into cosmetics & personal care, food & beverage, and others. The food & beverage segment has grown at a moderate rate during the forecast period. The distinct flavor profile and health benefits of maracuja oil are making it a popular trend in the food and beverage industry. Thus, due to its unique and tangy flavor, oil is a highly sought-after component of drinks, sauces, and dressings. Food products are given a healthier appeal by maracuja oil, which is abundant in antioxidants and vital fatty acids. The food and beverage industry is witnessing a rise in maracuja oil due to the growing customer demand for natural and unusual tastes as well as increased awareness of the oil's nutritional benefits. Its market expansion is further driven by creative applications in cooking and an emphasis on healthy eating trends.

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On the basis of distribution channel, the market is bifurcated into offline and online. The online segment has grown at the fastest maracuja oil market growth rate during the forecast period. Online sales have increased due to consumers' growing demand for simple and hassle-free shopping. Customers have a variety of options due to the large selection of maracuja oil-based products available on e-commerce platforms. Product exposure is aided by online beauty groups and influencer marketing. The convenience of online pricing comparison, user review access, and competitive product comparisons all contribute to the expansion of the online distribution channel. Online platforms are expected to witness the ongoing rise of the maracuja oil industry as digitalization and e-commerce continues to evolve.

The major players analyzed for the industry are Tarte Cosmetics, Josie Maran Cosmetics, Sunday Riley, Drunk Elephant, Kiehl's, Herbivore Botanicals, Ole Henriksen, Farsali, Pacifica Beauty, and Fresh.

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KEY FINDINGS OF STUDY

On the basis of nature, the conventional segment was the highest contributor to the market in 2022.
On the basis of application, the food & beverage segment is the fastest-growing segment with a 10.5% CAGR.
On the basis of distribution channel, the offline segment was the largest in the market in 2022.

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David Correa
Allied Market Research
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