Global Organic Oil Market: Overview
Organic oil refers to the one that is made from herbs or plants that have been processed or grown utilizing organic principles. Organic oil is processed sans utilization of any synthetic products, such as sewage sludge-based fertilizers, petroleum-based fertilizers, bioengineered genes (GMOs), and pesticides. Organic oil comes with several health benefits, which is likely to work in favor of the global organic oil market in the years to come.
The demand for organic oil is growing at a very fast pace and it is widely regarded as a healthier option in comparison with non-organic oils. Addition of substances like herbicides, pesticides, and other such materials collect toxins in the body. Edible organic oils are made of natural ingredients and do not have any additive or artificial substances in it. All these factors are likely to pave way for accelerated growth of the global organic oil market over the tenure of projection, from 2020 to 2030.
The global organic oil market has been categorized based on three significant parameters, which are type, application, and region. Such segmentation offers better insight into the market.
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Global Organic Oil Market: Notable Developments
The global organic oil market has experienced some path-breaking, important developments over the last few years. The market is considered quite a fragmented one with the presence of a number of prominent manufacturers across the globe. Notwithstanding, the major players in the global organic oil market are relying on relentless research and development activities to come up with better, improved product in the market.
Some of the major companies in the global organic oil market are mentioned below:
- Cargill Incorporated
- The J.M Smucker Company
- The Grupo Daabon
- Catania-Spagna Corporation
- Now Foods
- The Adams Group, Inc.
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Global Organic Oil Market: Key Trends
The global organic oil market is characterized by the prevalence of the following challenges, market drivers, and promising opportunities.
High Demand from Cosmetic and Pharmaceutical Industry to Boost Growth of the Market
Organic oil is made utilizing the natural metabolic process through various seeds and plants. The benefits of organic oil are widely recognized by individuals who are conscious about their health, which is likely to play an important role in driving the demand of this oil. Organic oil can stay fresh for a longer period of time, as compared to their non-organic counterparts. In addition to that, it contains more nutrients and gives more energy. The process of organic oil production removes the need for adding any synthetic substance, which betters the quality and nutrient value of this oil. All these factors are likely to come up as growth factors for the global organic oil market over the timeframe of analysis, from 2020 to 2030.
Apart from, increased awareness of the consumers about the high nutrient value and health benefits of this oil is likely to augur well for the market as well. Beauty and cosmetic industry makes extensive use of this oil, as it is a rich source of essential fatty acids (EFA). Presence of high quantity of EFA makes it suitable for use on skin, thereby making the skin healthier and leaving it more radiant. It also assists in the treatment of various skin problems. High demand from the beauty and cosmetic industry is likely to foster growth of the global organic oil market in the years to come.
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Global Organic Oil Market: Geographical Analysis
Asia Pacific is projected to come up as one the leading regions in the global organic oil market. This regional market is a rapidly growing one due to the growing awareness about the multiple benefits of the product. In addition, rising disposable income of people in the region, particularly in India and China is likely to augur well for the regional market in the years to come.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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