The mango seed oil market has witnessed significant growth in recent years owing to its multi-functional properties and advantages over other plant-based oils. Mango seed oil contains fatty acids like oleic acid and linoleic acid that make it an excellent moisturizer for both skin and hair. It is light in texture yet deeply hydrating, non-greasy, and gets easily absorbed into the skin. The increasing demand for natural and plant-based products in cosmetics and personal care has driven the use of mango seed oil as a vital ingredient.
The global mango seed oil market is estimated to be valued at USD 237.9 Mn in 2024 and is expected to reach USD 387.1 Mn by 2031, growing at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Key Takeaways
Key players operating in the mango seed oil market are VedaOils, Natures Natural India, AG Organica, India Aroma Oils and Company, Olam International, Sunfood Corporation, Hain Celestial Group, Dole Food Company, McCain Foods, Kraft Heinz Company, General Mills, Conagra Brands, B&G Foods, Pinnacle Foods, Tropicana Products, Green Giant, Del Monte Foods, Euro Foods Industries, Maxcor Agro And Allieds, and Caradora Health Solutions. The leading companies are focusing on strategic partnerships and new product launches to cater to the growing demand.
The increasing demand for natural cosmetic products is a major factor boosting the Mango Seed Oil Market Demand. Consumers are increasingly switching to naturally derived ingredients and plant-based oils in personal care due to their lightweight feel and moisturizing properties, which hydrate the skin without clogging pores. This growing preference for natural ingredients is driving the rise of the mango seed oil market as a popular choice in skincare and beauty formulations.
The growing global clean beauty movement is prompting manufacturers to expand their geographic footprint in untapped regions. Leading brands are distributing mango seed oil-based products through e-commerce platforms and entering developing countries in Asia Pacific and Middle East & Africa to leverage opportunities.
Market key trends
One of the key trends in the mango seed oil market is the increasing popularity of multi-functional natural oils. Mango seed oil contains fatty acids that make it suitable for various skin, hair, and health applications. It is being used in facial oils, soaps, lotions, and butter thanks to its anti-aging and moisturizing properties. The versatile benefits of mango seed oil are expected to further propel the demand.
Porter's Analysis
Threat of new entrants: The mango seed oil market has moderate threat of new entrants due to high initial investment and established key players capturing majority market share.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives like coconut and olive oil.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw material suppliers in market.
Threat of new substitutes: Threat of substitutes is low as mango seed oil offers unique properties and cannot be substituted easily.
Competitive rivalry: Market has moderate competitive rivalry due to presence of few key global players.
Geographical Regions
The mango seed oil market in Asia Pacific region leads in terms of value share currently. India is the largest producer and exporter of mango seed oil globally. Majority of the production is concentrated in states of Uttar Pradesh, Bihar and West Bengal in India.
Europe region is expected to witness fastest growth during forecast period. Rising awareness about health benefits of mango seed oil amongst consumers in countries like Germany, UK, France is driving the market growth. Growing demand for organic and natural personal care products also supports market expansion.
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