Tamanu Oil Insights, Trends, Opportunity & Forecast, 2020–2026
- by KD Market Insights
- Jan, 2021
According to a new report published by K D Market Insights, titled, “Tamanu Oil Insights, Trends, Opportunity & Forecast, 2020–2026,” the global tamanu oil size is anticipated to witness single-digit growth during the forecast period i.e. 2020-2026. Europe accounted for a large share of the market, owing to the growth of the organic industry which is propelling the demand for organic products such as tamanu oil.
Rising awareness of natural treatments & therapies for skin wellness through social media, increasing consumer preference for natural and plant-based products, rising demand for organic and clean labeled products, increasing R&D activities around tamanu oil and its potential applications are the major factors that are impelling the growth of the market. Increasing awareness regarding properties of tamanu oil such as antioxidant, antibacterial, and anti-inflammatory properties. Furthermore, it has the ability to promote new tissues and rejuvenate skin cells. Moreover, tamanu oil can be administered topically for wound treatment. It is anticipated that tamanu oil will be used in the pharmaceutical industry in the near future which will offer incremental dollar opportunities.
Europe accounted for the largest market share in the tamanu oil. North America is projected to grow at a significant growth during the forecast period, owing to increasing skin wellness awareness, growing demand for natural products, rising usage of tamanu oil in several verticals, majorly cosmetics and natural products in the region, high consumer spending power, and the rising demand for natural products.
According to the product, the unrefined tamanu oil segment accounted for a significant portion of the market share during 2020. This can be attributed to higher demand for unrefined tamanu oil as raw material in end-user industries. Moreover, the unrefined segment is anticipated to continue its dominance during the forecast period.
The global tamanu oil is segmented into product type, application, nature, distribution channel, and region. Based on product type, the market is segmented into refined tamanu oil and unrefined tamanu oil. The application segment is categorized into personal care cosmetics, toiletries, and pharmaceuticals. Based on nature, it is classified into organic and conventional. By distribution channel, it is segmented into direct and indirect.
The global tamanu oil is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of the Middle East & Africa). Asia Pacific market is anticipated to showcase high growth during the forecast period. Consumption of tamanu oil is anticipated to increase in China, India, Japan, Southeast Asia, and Korea.
Key Insights of Tamanu Oil
- On the basis of product type, the unrefined tamanu oil segment will be a major contributor to the growth of the market.
- On the basis of application, the personal care cosmetics segment captured the highest share of the tamanu oil in 2020.
- On the basis of region, Europe accounted for largest regional market in the overall market in 2020.
- On the basis of region, Asia-Pacific is predicted to observe the highest CAGR during the forecast period.
Some of the major tamanu oil companies profiled in the report include US Organic Group Corp., NOW Health Group, Inc., Mountain Rose Herbs, Leven Rose, Ecoarts Enterprise, CammileQ, and Other Players.
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