Andiroba Oil Market Size, Share, Growth, and Industry Analysis by Type (High Purity Extract, Ratio Extract, Andiroba Oil), by Application (Skin Care, Hair Care, Other), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Andiroba Oil Market Report Overview

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The global andiroba oil market size was USD 104.2 million in 2022 and is expected to reach USD 179.07 million in 2031, exhibiting a CAGR of 6.2% during the forecast period. 

Andiroba oil grow naturally in the amazon tropical forest, mined sustainably without the use of pesticides and fertilizers. It comprises chemicals called limonoids. These chemicals appear to prevent and kill mosquitoes and other pests. The carapa guianensis commonly known as andiroba in spite of being very habitually used by the population and current studies ethno remedial and pharmacological activities. Fruit from the andiroba tree contains kernels which are rich in oil. The seeds from this plant look like a chestnut and have a precise oil-rich kernel in the centre. Andiroba oil has outstanding powerful qualities and outstanding anti-inflammatory activity, making it ideal as a massage oil or as a carrier oil for treatment products and as a natural nourishing base for skin care preparations. The antioxidant action also helps it to preserve the quality of skin even after contact to the sun or other ecological factors. Andiroba oil can be used for skin care in various formulations like face creams, facial masks, mouth wash, and others. It can be used as an effective natural remedy for eczema, psoriasis, and dermatitis. It can be used as a natural therapy for acne, psoriasis, dermatitis, and ringworm. On the basis of types market is segmented into high purity and ratio extract. High Purity Extract is a kind of oil that includes more than 98% carapa guianensis seed oil. Ratio extract is an oil that comprises more than 90% carapa guianensis seed oil while the remaining is the andiroba oil. Ratio extract is used to produce high-grade skincare products. It is beneficial for the skin, as it is rich in antioxidants and has antimicrobial stuffs, and is used to treat skin illnesses. It also has anti-inflammatory stuffs which helps to reduce the presence of marks and blemishes. Andiroba oil market include growing demand for natural elements in cosmetics, increasing consumer expenses on skincare products, and rising consciousness about the benefits of using oil in personal care products. It is used extensively in the cosmetic and personal care industry for numerous uses such as skincare, haircare, and others. Individuals relate bark and leaf straight to the skin wounds, boils, and skin worries. It is used on the skin for removing ticks and skin parasites.

COVID-19 Impact: Pandemic hampered the market due to unexpected disruption in the sector

The global COVID-19 pandemic has been unprecedented and staggering, with andiroba oil market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over.

COVID-19 pandemic has extremely affected the whole world. The pandemic has led to significant changes in consumer behaviour, with more individuals spending online and selecting health and safety. Due to restrictions in travelling it hampered the supply of raw material and caused disruption in the sector. COVID-19 negatively impacted the market growth.

Latest Trends

"Technological advancement to boost the market growth "

High implementation of advanced technology and the existence of large players in county are likely to create generous growth opportunities for the market. Technological innovation and advancement will further enhance the performance of the product, making it more broadly used in performances.  Online broadcast ad reach customers directly and are more likely to achieve customer consideration. Developments in technology have led to the expansion of new and better-quality materials for making, which is another factor contributing to the market growth. Team up with other firms can lead to the enlargement of new products, services, technologies that can help to motivate growth and income.

Andiroba Oil Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into high purity extract, ratio extract, andiroba oil

High purity extract capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into skin care, hair care, other

Andiroba oil market players cover segment as Industrial will dominate the market share during forecast period.

Driving Factors

"Used to treat various illness to upsurge the market growth"

As a traditional medicine it seed oil has been used as an anti-inflammatory for swelling, to treat arthritis, rashes, muscle, joint aches , injuries, wounds, boils, and herpes ulcers. It has also found application for its antimalarial, insecticidal and insect repellent properties. It is a natural botanical abstract that has the properties of anti-inflammatory, antiseptic, and antibacterial.

"Rising demand for natural products to boost the market."

The rising demand for natural products and increasing consumer preference towards bio-based preparations are one of the crucial factors boosting growth in the andiroba market across the world. Additionally, rising awareness about skin health and augmented usage as a topical remedy is estimated to boost the demand for andiroba market.

Restraining Factors

"High cost and lack of knowledge to hamper the market growth"

High prices of oil may hamper the growth of this market to some extent as there may be less buyers in the market due to high cost. Lack of knowledge regarding composition of the oil can deplete the andiroba oil market growth.

Andiroba Oil Market Regional Insights

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"North America to dominate the region due to rising awareness"

North America is further expected to witness growth in the andiroba oil market share. The region is anticipated to witness major growth over the forecast period due to growing awareness and constantly growing development around the world the market is anticipated to create sufficient opportunities over the forecast period. North America is expected to lead the market due to the rising awareness, disposable income and growing demand for natural products.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage."

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Anita Grant (U.K.)
• Hallstar (U.S.)
• Teliaoils (U.S.)
• Gracefruit (U.K.)
• Oshadhi (U.K.)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.