We all know Avocado and Olive, and Jojoba and Sunflower. Also, we know about Argan and Rosehip. But do you recall the most underrated skincare oil for all? Yes, we are talking about Tamanu oil. Although it may not be the most well-known skincare oil on the market, it has a long list of real advantages and is worth adding to your routine. Ahead, let’s understand more about the Tamanu oil market.
The global tamanu oil market was valued at USD 101.94 million in 2022 and is expected to grow to USD 178.39 million at a CAGR of 5.8% during the forecast period of 2032. Keep reading to learn more about the oil, its benefits, and the market insights that help plump your skin.
What is Tamanu Oil?
The seeds of the Southeast Asian native, evergreen tamanu nut tree make tamanu oil. Even while it isn’t yet the ‘it’ ingredient in modern skin care, King points out that many Asian, African, and Pacific Island tribes have long practiced its medical use.
Tamanu oil has a unique appearance and fragrance. It has a very earthy, deep, nutty aroma in its purest form, which may be off-putting to certain people. It is also a dark green color and has a thick consistency. Its scientific name frequently identifies it, Calophyllum inophyllum seed oil, in numerous cosmetic products.
What are the Market’s Key Growth Drivers?
The important aspect projected to drive the tamanu oil market growth during the forecast period is the increased demand for natural treatments for skin disorders and skin and hair health maintenance. Scarring from acne is a common problem that can affect people of all ages and hurts one’s quality of life and self-esteem.
Moreover, Tamanu oil is well known for reducing the visibility of acne scars and hastening the healing process for the skin. The rising prevalence of various skin conditions, increased awareness of aesthetic appeal among women and men worldwide, and rapidly growing used of cosmetics and personal care products are predicted to drive market revenue growth throughout the forecast period.
The Online Sector is Witnessing the Fastest Growth
Due to the increasing use of online platforms, most developing businesses are introducing and selling their items on e-commerce websites. The Tamanu oil industry participants focus on online merchants to increase their geographic reach, resulting in a significant market increase through these channels. Other distribution channels like modern trade, drug stores, and specialty shops will aid in the growth of the tamanu oil business.
Pharmaceuticals Sector Accounts for the Largest Share
Tamanu oil is suitable for topical application to infected wounds and is beneficial for skin disorders. Antioxidants combat the harm caused by free radicals. Damage results when the body is overburdened with free radicals that it cannot get rid of. This is one of the causes of people’s skin aging faster. Tamanu oil is a well-liked, powerful antioxidant used in anti-aging products.
Additionally, tamanu oil has anti-inflammatory qualities that can treat eczema. This is expected to enhance the product’s chances for growth in the pharmaceutical industry, supporting the sector’s expected increase.
Which is the Leading Region of the Market?
One of the key markets is North America. The many end-use businesses in the area, particularly the cosmetics industry, regularly use tamanu oil. Demand for natural and organic personal care products will also increase significantly during the forecast period. As a result of rising consumer disposable incomes, expanding health consciousness, and growing demand for natural products, the sector in the area is booming.
The fastest CAGR in the market is being experienced in the Asia-Pacific region. This can be explained by rising disposable income, purchasing power among customers, and increasing consumer awareness of the therapeutic advantages of natural goods. The majority of the countries that make up this region have been rapidly urbanizing, industrializing, and modernizing, which is why the area is expected to grow tremendously throughout the forecast period.
Key Takeaways
Since ancient times, tamanu oil has been used to treat various common skin issues, making it popular in the market.