The global Abyssinian Oil market is expected to reach a market valuation of USD 11,906.09 Million by the year 2023, accelerating with a CAGR 4.4% by 2023 to 2033. Abyssinian Oil sales are likely to account for a part of the demand in the global essential Oil market, valued at approximate USD 18,313.53 Million in 2033.
Abyssinian oil derived from the crambe Abyssinian plant is a multi-tasking essential oil working as a miracle for the cosmetics industry. Different types of essential oils are available such as: Peppermint oil, Tea Tree oil, Abyssinian oil, Lavender oil, Frankincense oil, among others.
The growing era of a healthy lifestyle is attributed to causing an increasing demand for naturally derived products be it cosmetics or food. The development of the modern lifestyle and technology has surged the demand for the essential oil market. Increase in demand for natural personal care products and pleasing aromatic cleaning agents is another driver for the Abyssinian Oil market.
Abyssinian Oil Market Size (2023E)
USD 11,906.09 Million
Abyssinian Oil Market Projected Size (2033F)
USD 18,313.53 Million
Value CAGR (2023 to 2033)
6.0 %
Future Market Insights projects the market to remain lucrative, exhibiting growth at 4.4% CAGR between 2023 and 2033 in comparison to the CAGR of 5.9% posted between 2018 and 2022.
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How Do the Abyssinian Oil Market's Historic and Future Outlook Compare?
Abyssinian Oil Market sales grew at a CAGR of 5.9% between 2018 and 2022. The period marked the entry of various market players and product innovations.
The Abyssinian Oil market has become more commanding over the time as the number of producers in the market is growing legitimately. Abyssinian Oil is a Mediterranean natural oil derived from the mustard plant. Abyssinian Oil has a high oxidation resistance and includes a fatty acid known as C22. This oil is utilised in the creation of face creams since it is simple to absorb and does not feel greasy or sticky.
The demand for essential oils is increasing by double-digit, especially in the countries such as France, Germany, and UK and South Africa, USA & others. Also, with the growing concerns and shifting preference for products comprising natural ingredients is also driving the demand for essential oils.
Growing Demand for Cosmetics and Personal Care Products is Driving Abyssinian oil Market
The demand for beauty goods has significantly increased as a result of expanding economies and a huge rise in disposable income. A significant market opportunity has arisen for the Abyssinian oil market due to the increase in demand for natural and herbal ingredients.
Abyssinian oil works well as a moisturising agent to support soft, smooth skin and helps with wrinkle reduction. Clinical studies have shown that Abyssinian oil is more efficient than argon oil. All hair and skin types can use Abyssinia oil because of its quick rate of skin and hair penetration. During the course of the projected period, all these variables will result in a rise in demand for oil in the Abyssinian market.
Thus, Future Market Insights predicts a substantial growth of Abyssinian Oil Market in the given forecast period.
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Country Wise Insights
Regions
North America
Countries
United States
Value CAGR in % (2023)
3.9%
Value Share in Market (2023)
30.4%
Regions
Europe
Countries
Germany, United Kingdom
Value CAGR in % (2023)
3.5%, 3.6%
Value Share in Market (2023)
28.7%, 21%
Regions
Asia Pacific
Countries
India, Japan
Value CAGR in % (2023)
4.6%, 5.6%
Value Share in Market (2023)
3.5%, 8.4%
Dominance of the African countries in Abyssinian Oil Market
According to Future Market Insights, GCC Countries including South Africa is expected to rise by a significant growth rate during the forecast period and shares a large amount of market share.
Because Abyssinian trees are abundant in Southern African nations such as Botswana, Zimbabwe, and South Africa, the production of Abyssinian oil in the MEA region is abundant. Over the years the cosmetics industry has witnessed a significant growth wherein the demand for anti-aging products is very high. Abyssinian oil has proven to be useful for aiding aging signs. As the number of suppliers in the market legally grows, the Abyssinian Oil market has gotten more dominating over time.
What is the outlook for the Abyssinian Oil market in India?
India has shown positive trends in the growth of the manufacturing base of Abyssinian Oil owing to the 100% foreign direct investment opportunity in the Oil industry. India has a steady CAGR of 4.6% in the forecast period.
The potential for growth of the Abyssinian oil market is very large. Abyssinian Oil is recommended for anti-aging skincare as well as the prevention of skin problems such as acne and rosacea. It has long been a common application in industrialised nations, and its use has recently grown in underdeveloped countries, particularly in South Asia.
The market for Abyssinian oil is being driven by consumers' increased preference for natural products. To stay up with the pace of the Abyssinian oil market, the major producers of this oil are becoming more interested in the creation of natural and bio-based products.
What are the factors driving the USA in Abyssinian Oil Market?
The United States shares largest market share of Abyssinian Oil in the world presently.
Numerous overall benefits linked with Abyssinian Oil are expected to drive the product demand in beauty applications as well. Over the years there has been a shift of customer preference form natural to organic beauty products especially in the United States.
This trend is expected to lead to significant market expansion in the years ahead, according to Future Market Insights.
Category wise Insights
Adjacent Markets Overview
Olive Oil Market:
Attributes
Olive Oil Market
CAGR (2023 to 2033)
2.9%
Market Value (2033)
US$ 18.5 Billion
Growth Factor
The market is expanding primarily due to the trend of maintaining overall health and wellness by switching to healthier oil options.
Opportunity
Consumers are increasingly seeking out natural and organic products, and olive oil is perceived as a healthier and more natural alternative to other oils.
Key Trends
Key players are adopting marketing strategies such as pairing up with vegetables to increase their revenue.
Arborvitae Oil Market:
Attributes
Arborvitae Oil Market
CAGR (2023 to 2033)
5.8%
Market Value (2033)
US$ 1,040.8 Million
Growth Factor
Arborvitae oil has a wide range of uses; it enables in preventing the wood from rotting, for aromatherapy massage, as an insect repellant, and it also has diverse applications in healthcare.
Opportunity
As an essential oil, arborvitae oil finds its end use in cosmetics, food and beverage industry, personal care, pharmaceuticals, aromatherapy and industrial sectors.
Key Trends
The market is expected to witness a substantial development due to the increasing medical applications with growing interest in people and alertness regarding health aids related with essential oils and natural ingredients.
Ximenia Oil Market:
Attributes
Ximenia Oil Market
CAGR (2023 to 2033)
6%
Market Value (2033)
US$ 896.654 Million
Growth Factor
Ximenia Oil is also utilized in the creation of skincare products, hair conditioners, and scents. Increase in demand for natural personal care products and pleasing aromatic cleaning agents is a driver for this market.
Opportunity
The present trend of combining exotic plant oils with synthetic chemicals to create really innovative and ground-breaking products is fuelling the growth of the Ximenia Oil market.
Key Trends
The market is expected to witness substantial development due to the increasing medical applications as compared to conventional drugs
Category Trends in Nature and End Use in the Forecast Period
The modern trend of unification of exotic botanical oils with synthetic ingredients to form genuinely modern ground-breaking products is stimulating the growth of the Abyssinian Oil market. Crambe Abyssinica Leaf has also been used in the production of cosmetics in the past. Apart from its extensive use in cosmetics, sales of Abyssinian Oil are also increasing due to its utilization in the pharmaceutical business, for example, in the treatment of asthenia. Green tea products are used as dietary supplements in different regions, particularly for weight loss.
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Recent Developments/Innovations
The global Abyssinian oil has progressed on the outline of new product innovations and will continue to grow the same way during the period of forecast. Producers could emphasis on producing innovative products while complying with guidelines and regulations for food grade material usage.
Firmenich finalised the purchase of Les Dérivés Résiniques et Terpéniques ("DRT") (France) in May 2020, making Firmenich a global leader in the development and delivery of high-quality, renewable, and organically sourced ingredients. Firmenich would benefit from this purchase by becoming a major player in renewable ingredients for perfumery and other applications.
DôTERRA released numerous new essential oil products and diffusers in October 2020, as well as three new wellness programmes to assist individuals focus on their own health objectives. The new goods were unveiled at Pursue 2020 in September.
Scope of the Report
Attribute
Details
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
USD Million for Value
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, and the Middle East & Africa
Key Countries Covered
United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, India, India, Thailand, U.S., Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.
Key Segments Covered
Type, Form, Application, Region
Key Companies Profiled
DoTERRA International LLC
Leffingwell and Associates
Venkatramna Industries
Tate & Lyle
Phyto Life Sciences P. Ltd.
Carrubba Inc, AVT Tea Services
Nature's Crops International
Hunan Sunfull Bio-tech Co., Ltd.
Henry Lamotte OILS GmbH Indian Aroma Exports
Pure Path Essential Oils
Moksha Lifestyle Products
Katyani Exports
Ahimsa Oils
Piping Rock
Abyssinian Australia Health and Wellbeing Pty
Report Coverage
Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Abyssinian Oil Market by Category
By Nature:
Organic
Conventional
By Application:
Moisturizing agent
Conditioning agent
Emollient
By End Use:
Cosmetics and Personal care
Skin Care
Hair Care
Personal Hygiene
Others
By Sales Channel:
B2B
B2C
Supermarket/Hypermarket
Convenience stores
Specialty stores
E-retail
By Region:
North America
Latin America
Europe
Middle East and Africa
East Asia
South Asia
Oceania
Frequently Asked Questions
At what rate will the Abyssinian Oil Market grow?
Throughout the forecast period, the Abyssinian Oil Market is expected to grow at a CAGR of 4.4%
What is the expected value of the Abyssinian Oil Market by 2033?
By 2033, the Abyssinian Oil Market is expected to be worth USD 18,313.53 Million.
What are the key factors driving the Abyssinian Oil Market?
The worldwide sales of Abyssinian Oil are being driven by rising consumer awareness of personal hygiene and the growing cosmetic sector.
Which region(s) adds to the highest Abyssinian Oil Market Valuation?
Currently, North America and Europe are at the top of the market share of Abyssinian Oil.
Who are the key players in the Abyssinian Oil Market?
Some of the key players in the Abyssinian Oil Market include Shanghai Freemen, Tate & Lyle, Phyto Life Sciences P. Ltd., Carrubba Inc, AVT Tea Services, Nature's Crops International, Hunan Sunfull Bio-tech Co., Ltd., Henry Lamotte OILS GmbH, and others.
