Global mango seed oil and butter market to grow at a CAGR of 8.22% during the period 2017-2021.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the major drivers for this market is that it treats dandruff and hair problems. Dandruff is a common hair issue. It is caused due to the drying of the scalp, which results in the shedding of flaky skin from the scalp. Mango seed oil is one of the best oil options to treat all hair-related problems. Mango seed oil helps to get rid of dandruff as it offers luster and strength to hair roots. Mango seed oil, along with carrier oil, such as mustard oil, provides the required nourishment to the scalp. Mango seed oil, when applied evenly on the scalp, helps treat hair loss, greying, and alopecia (hair loss from certain sections of the head).
The latest trend gaining momentum in the market is the increasing demand for cold-pressed organic mango seed oil. Organic farming is the practice of growing crops in natural ways without using pesticides or any other artificial agent. Organic products are healthier and eco-friendly options than non-organic products. The demand for healthy and hygienic products is growing steadily among consumers. With the rise in health and beauty issues, there has been an increase in demand for safer alternatives in food and cosmetics industries. Though organic oils are more expensive than non-organic oils, the demand for organic oils is increasing steadily owing to their health benefits. Consumers in developed economies are showing a growing interest in purchasing organic oils. The main reason for the high cost associated with organic oils is because the entire process of oil production requires monitoring and close investigation.
Further, the report states that one of the major factors hindering the growth of this market is higher price of mango seed oil and butter. One of the major challenges that are hindering the growth of the mango seed oil market is the high prices associated with these healthy products. The overall price of mango seed oil is very high when compared with premium specialty oils. This is because around 2-3 kilograms of mango seed kernels are required to make one liter of oil. Also, the prices of mango seed as an ingredient are higher when compared with other nuts and seeds used to manufacture oil. As the production of mango seed is in small numbers, the overall oil expense is much high for manufacturing mango seed oil, making it not a viable option for consumers.