Asia-Pacific Amaranth Oil Market, By Extraction Type (Supercritical Fluid CO2 Extraction Process, Cold Pressing Process, Organic Solvent (Hexane) Extraction Process, Others), Packaging Type (HDPE Carboy, Aluminum Bottles, G. I. Drums, Others), Category (Conventional, Organic), Application (Cosmetic And Personal Care, Dietary Supplements, Aromatics, Pharmaceuticals, Others), Country (China, Japan, India, South Korea, Australia, Thailand, Indonesia, Singapore, Rest Of Asia-Pacific) Industry Trends And Forecast To 2028.
Market Analysis and Insights: Asia Pacific Amaranth Oil Market
Asia Pacific amaranth oil market is expected to reach USD 391.43 million by 2028 from USD 151.05 million in 2020, growing at a steady CAGR of 12.7% in the forecast period of 2021 to 2028.
Amaranth oil is extracted from the amaranth grain of two species Amaranthus - A. cruentus and A. hypochondriacus. It is a rich source of various fatty acids, such as oleic acid, linoleic acid, among others. Furthermore, amaranth oil is also an environment-friendly and plant-based source of squalene, which is majorly extracted from whale and shark liver oil. In amaranth oil, squalene content ranges from 2%-9%, depending upon species and extraction type. Thus, with the growing concern for animal welfare and increasing market consumption for a vegan product, the market for amaranth oil is also expected to grow. Moreover, due to its high squalene content, amaranth oil is highly used in cosmetics and skincare products. In addition, amaranth oil is also extensively used in dietary supplements, pharmaceuticals, aromatherapy, food, and other applications, due to its various health benefits, such as its richness in anti-oxidants, reducing the risk of cardiovascular diseases, among others. Thus, with the growth of these application industries, the market for amaranth oil is also expected to grow.
The factors driving the growth of the amaranth oil market are an increase in demand for essential oils from the personal care and pharmaceutical industry, rises in demand for amaranth oil from the supplementary food industry, increase in consumer acceptance of natural products for healthy living, and an increase in awareness related to the health benefits of amaranth oil. At the same time, the high cost of production may restrain amaranth oil market growth.
Asia Pacific Amaranth Oil Market Scope and Market Size
Asia Pacific amaranth oil market is segmented into four notable segments based on extraction type, packaging type, category, and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of extraction type, the amaranth oil market is segmented into supercritical fluid CO2 extraction process, cold-pressing process, organic solvent (hexane) extraction process, others. In 2021, the supercritical fluid CO2 extraction process segment is expected to dominate the market due to easy access to the machinery and technology used for the extraction process.
- On the basis of packaging type, the amaranth oil market is segmented into HDPE carboy, aluminum bottles, G.I. drums, Others. In 2021, the HDPE carboy segment is expected to dominate the amaranth oil market as it is one of the most stable and affordable packaging type that can carry essential oil like amaranth oil without loss of aroma.
- On the basis of category, the amaranth oil market is segmented into conventional, organic. In 2021, the conventional segment is expected to dominate the market as the product is subject to lesser regulations for labeling. Furthermore, the segment is expected to be dominated as it is less expensive compared to organic amaranth oil.
- On the basis of application, the amaranth oil market is segmented into cosmetics and personal care, dietary supplements, aromatics, pharmaceuticals, others. In 2021, the cosmetics and personal care segment are expected to dominate the market due to the various benefits of amaranth oil for its unsaturated fats and squalene helpful in maintaining hair and skin health.
Asia Pacific Amaranth oil Market: Country Level Analysis
Asia Pacific amaranth oil market is analyzed, and market size information is provided by country, extraction type, packaging type, category, and application.
The countries covered in the Asia Pacific amaranth oil market report are China, Japan, India, South Korea, Australia, Thailand, Indonesia, Singapore, Rest of Asia-Pacific.
China is expected to dominate the market due to growing acceptance of amaranth oil in a variety of applications such as cosmetics, dietary supplements, and aromatics, among others. Furthermore, China is dominating due to the growing market for cosmetics and skincare & dietary supplements in the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Amaranth Oil
Asia Pacific amaranth oil market also provides you with detailed market analysis for every country's growth in the industry with sales, components sales, the impact of technological development in amaranth oil, and changes in regulatory scenarios with their support for the Asia Pacific amaranth oil market. The data is available for the historical period 2010 to 2019.
Competitive Landscape and Asia Pacific Amaranth Oil Market Share Analysis
Asia Pacific amaranth oil market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies' focus related to the Asia Pacific amaranth oil market.
Some of the major players operating in the amaranth oil market are Vaibhav Perfumery, NATURE PURE SUPERCRITICAL EXTRACTS PRIVATE LIMITED, Essential Oils, Probus, International LLP, Nature Pure Extracts Inc., Proderna Biotech Pvt. Ltd, Nans Products, Ekologie Forte Pvt.Ltd., Sunsoil Pvt. Ltd, Biocosmethic, and among others.
Asia Pacific amaranth oil market is fragmented, and the major players have used various strategies such as collaboration, recognition, agreements, and others to increase their footprints in the amaranth oil market.
- In February 2021, Henry Lamotte Oils GmbH participated in the trade fair the BIOFACH eSPECIAL from 17 to 19 February 2021. The partnership of the company with Naturland, LipoMill flours, and private label services - in BIOFACH trade fair magazine has helped the company in marketing the products. The exhibition was beneficial to the company in terms of marketing the products to the regional level to increase the sales of the company's products
- In November 2019, FLAVEX Naturextrakte GmbH successfully participated in the Natexpo Organic Trade Fair from 20 to 22 October 2019 in Paris. This participation provided global recognition to the company.