Mango Seed Oil Market Estimated To Witness High Growth Owing To Increasing Consumer Preference For Natural Products

The Mango Seed Oil Market is estimated to be valued at US$ 237.9 Mn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights’ The growth of the mango seed oil market is majorly driven by the increasing consumer preference for natural and organic cosmetic products.

Mango seed oil has various beneficial properties such as anti-aging, skin hydration, sun protection, etc. which makes it a suitable ingredient for use in cosmetic and personal care products. Moreover, increasing awareness about the medicinal properties of mango seed oil is also expected to support the market growth over the forecast period. Mango seed oil is known to have anti-cancer, anti-inflammatory and antioxidant properties which is boosting its demand in pharmaceutical applications.

Key Market Trends: Organic mango seed oil is gaining significant popularity in the market. Major players are focusing on sourcing mango seed oil from organic farms which is driving the demand for organic mango seed oil. Moreover, the launch of innovative packaging solutions for mango seed oil is another key trend witnessed in the market. For instance, the introduction of airless packaging solutions has improved the shelf life of mango seed oil without using any preservatives. Also, companies are offering mango seed oil in travel-friendly packaging such as roller bottles and small plastic jars to target new customers.

Mango Seed Oil Market Opportunities: Cosmetic and Personal Care Segment: Mango seed oil is gaining popularity in the cosmetic and personal care industry due to its numerous skin and hair benefits. It is a rich source of vitamins A, D and E which moisturizes and nourishes the skin and hair. The oil contains fatty acids like oleic acid and linoleic acid that make it an excellent emollient and helps reduce signs of aging like fine lines and wrinkles. It is also beneficial for various skin conditions like eczema and psoriasis. The cosmetic industry is focusing on developing natural and organic products using plant-based oils and butters. Mango seed oil meets this demand due to its mild texture and higher stability compared to other oils.

Food Industry Segment: Mango seed oil is increasingly used as a cooking oil and in processed food products due to its high smoke point. It has a neutral taste and does not impart any flavor when used for deep frying or sautéing. The oil contains anti-inflammatory and antioxidant compounds that provide various health benefits. Food manufacturers are incorporating mango seed oil into products like snacks, dressings and baked goods to market them as natural and healthy options. The oil also has a long shelf life and quality when compared to other cooking oils making it suitable for industrial food production.

Key Market Takeaways: The global mango seed oil market is anticipated to witness a CAGR of 7.2% during the forecast period 2024-2031, owing to increasing demand from cosmetic, personal care and food industries. On the basis of product type, refined mango seed oil segment is expected to hold a dominant position due to its higher stability and broader applications in processed food products. By application, the cosmetic and personal care segment will lead the market over the forecast period as consumers prefer natural oils and butters in skin and hair care regimens. North America is expected to hold a dominant position over the forecast period, owing to rising health and wellness trends in the region.

Competitor Insights: Key players operating in the mango seed oil market include VedaOils.com, Allied Oils Limited, Natures oils Natural Products, Dr. Adorable, Hexa Trading, and Katyani Exports, among others. These players are focusing on expanding their production capacity and distribution networks to capture more market share.

Recent Developments: In August 2023, India’s Khadi Natural announced plans to more than double its mango seed oil processing capacity from existing 30 tons to 75 tons per month by early 2024 with an investment of $5 million. Similarly, Thai mango seed oil manufacturer Yang Ming Agriculture is building a new extraction facility in Laos that will increase its total mango seed oil production capacity by 40% upon completion targeted for mid-2024. More information in full report.