Babassu oil is extracted from babassu palm which is primarily found in Amazon region of South America. It is light yellow in color when liquid and creamy white when it is in solid form. It is commercially manufactured by crushing hard shell of babassu palm nut and extracting oil from the kernel. The health dominating properties has led this product to hold a promising future. It contains vitamin E which protects against toxins such as eye disorders, neurological diseases such as Alzheimer’s disease, and diabetes and others. It also contains phyto sterols or plant sterols which enables to lower the cholesterol absorption in the body.
Babassu Oil Market Segmentation
Babassu oil is segmented on the basis of type which includes organic & conventional. Conventional babassu oil is expected to account for major value share during the forecast period. Organic babassu oil is expected to represent favorable growth in the near future. Babassu oil is very much suitable in terms of getting rid of from various hair and skin care problems. Thus increasing application of organic babassu oil in the manufacturing of organic cosmetics products is expected to drive the segment growth in the near future.
Babassu oil is further segmented on the basis of form which includes solid and liquid. Liquid form of babassu oil is expected to account for relatively higher value share during the forecast period. Wide availability of liquid form of babssu oil with various application such as in cooking or using as a cosmetic product is expected to drive the segment growth during the forecast period.
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Babassu oil is further segmented on the basis of distribution channel which includes beauty salon, pharmacy/drugstores, specialty outlet and through online retailing. Among all these segment pharmacy/drugstore is expected to represent major value share during the forecast period. Consumers perceives babassu oil as a hair and skin treatment product which is expected to support the segment growth during the forecast period. Online retailing expected to account for favorable growth during the forecast period. Increasing penetration of internet coupled with rising consumer inclination towards convenient shopping is expected to drive the segment growth in the near future.
Babassu Oil Market Regional Analysis
Babassu oil market is segmented on the basis of region which includes North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa and Japan. Geographically North America is expected to represent the favorable market for babassu oil in terms of value share. In the region the U.S. is expected to represent major value share during the forecast period. Among consumer in U.S. it is becoming a favorable ingredient for its ability to smooth and soften skin and hair which is expected to drive the market growth in the country. Latin America is expected to represent substantial growth in terms of value over the forecast period. Easy availability of raw material at low cost is expected to drive the market growth across the region.
Increasing demand for organic cosmetics products containing babassu oil is expected to support the market during the forecast period. Moreover consumers are looking forward to replace coconut oil with babassu oil due to its favorable properties for both skin and hair, which is further expected to fuel the market growth in the near future. However, there are some restraining factors which are effecting the global babasu oil market. Such as commercially babbassu oil is not manufactured across the globe except in Brazil. Due this it incurs high cost and sold at high price in globally.
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Some of the key players operating in babassu oil market includes Mielle Organics, ANITA GRANT, Dr. Adorable Inc. LABORATOIRE CENTIFLOR (Huiles & Sens) , and Sheabutter Cottage among others.