Press release
Andiroba Oil Market Outlook and Forecast by 2025
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The andiroba oil market is anticipated to get robust growth during the forecast owing to the health benefits associated with the consumption of andiroba oil. Andiroba oil is used in the manufacture of health products, cosmetics and insect repellent.
Market Segmentation:
Global andiroba oil market is segmented on the basis of source, application, distribution channel, end user, and region. The global andiroba oil market is segmented on the basis of source as natural and organic. The global andiroba oil market is segmented on the basis of application in cosmetic products, pharmaceutical products and fragrant products. In cosmetics, andiroba oil for the production of skin moisturizers, soaps and hair shampoo, in pharmaceuticals, andiroba oil is used for the preparation of essential oils for pain relief, and medication for skin and hair. The global andiroba oil market is segmented on the basis of distribution channel as direct and indirect. Indirect segment is further sub segmented as supermarket/hypermarket, online stores and specialty stores. The global andiroba oil market is segmented on the basis of end user as industrial and household.
Market Regional Outlook:
The global andiroba oil market is geographically divided into five major regions which includes North America, Latin America, Europe, Asia Pacific and Middle East and Africa. North America is expected to dominate the global andiroba oil market during the forecast period followed by Europe and Latin America. Asia pacific and MEA region is expected to gain significant growth in global andiroba market due to increase in demand for essential oils in this region. Global andiroba oil is expected to get substantial growth over the forecast period due to increased use of essential oils in the production of pharmaceutical and cosmetic products.
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Market Drivers:
The use of andiroba oil in the production of pharmaceutical products and cosmetics is expected to drive the global andiroba oil market. Easy availability of raw material at low cost is expected to drive the market growth globally. Increasing demand for organic cosmetics products containing andiroba oil is expected to support the market during the forecast period. Andiroba oil is mainly used in medicinal supplements as it contains various properties such as antiseptic, helps in treating diseases related to digestive and nervous system. Andiroba oil is widely used in fragrance industry as a component to impart aroma in products such as lotions and perfumes, soaps, and detergents. Hence, the global andiroba oil market is expected to observe robust growth over the forecast period.
Market Key Players:
Some of the key players identified across the value chain of the global andiroba oil market includes Anita Grant, Hallstar, Camden-Grey Essential Oils, Inc., Teliaoils, PureNature, Gracefruit, Oshadhi Ltd., Akoma Skincare. The companies are expected to expand their business by enhancing their product portfolio in global andiroba oil market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global andiroba oil market till 2025.
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