MANGO SEED OIL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Mango Seed Oil Market Size and Trends

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.

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The global mango seed oil market has been witnessing positive trends over the past years owing to factors such as its wide range of applications in the cosmetics and personal care industries. Mango seed oil has gained popularity due to its rich content of antioxidants, vitamin E, and oleic acid that makes it beneficial for skin and hair care. Rising awareness about the nutritional benefits of mango seed oil among consumers is further driving the demand for natural personal care products using this oil. Additionally, increasing use of mango seed oil as a cooking oil in many Asian and African countries has also contributed to the growth of the market.

Market Driver - Growing awareness regarding the benefits of natural products

As people are becoming increasingly conscious of the ingredients used in the personal care products and cosmetics sectors, there is a rising preference for natural and organic products. Consumers are turning away from products containing harsh chemicals and are seeking alternatives made from plant-based ingredients that are gentler on the skin. Mango seed oil fits right into this demand due to its natural composition. Being cold-pressed from natural mango seeds, it does not involve any chemicals in the extraction process. It is gaining popularity among conscious customers who wish to adopt a more natural way of living and take better care of their skin and health.

The properties of mango seed oil make it highly suitable for skin and hair care. It is easily absorbed by the skin without leaving any greasy or sticky residue. Being rich in fatty acids like oleic acid and polyphenolic compounds, mango seed oil possesses anti-inflammatory and antioxidant properties that help in keeping premature aging signs at bay. Regular application of products containing mango seed oil helps maintain the skin's natural moisture balance and protects it from environmental damage. These nourishing benefits have led to its increasing usage as a base oil in natural body butters, balms, and serums. Besides skincare, mango seed oil is also finding applications as a safe carrier oil in aromatherapy due to its pleasant scent.

Increasing awareness about the cleansing properties and emollient qualities of plant-based oils through online research and blogs has encouraged people to incorporate natural ingredients into their self-care regime. There is growing distrust of synthetic cosmetic offerings due to multiple health scandals. This has boosted interest in herbal alternatives and pushed personal care brands to clean up their formulas. Mango seed oil fits perfectly with the clean beauty movement prioritizing short, understandable ingredients sourced sustainably and ethically. To cater to ethically-conscious millennial consumers, brands are amplifying communication around plant-based formulations with feel-good natural elements like mango seed oil. This consumer pull is likely to continue fueling the adoption of mango seed oil across personal care markets globally.

Market Concentration and Competitive Landscape

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Increasing Demand for Plant-based Cosmetic Products

With rising veganism and flexitarian trends influencing lifestyles, there is strong tailwinds driving the plant-based beauty space. More consumers are checking labels for non-animal derived ingredients and seeking eco-friendly options made from natural extracts and organic materials. Plant oils in particular such as jojoba, argan, coconut, and olive oils have garnered popularity as moisturizing agents suitable for sensitive skin types. This emerging preference for herbal ingredients is opening doors for tropical plant oils like mango seed oil. Being lightweight in texture yet rich in emollient properties, mango seed oil is an excellent alternate to mineral oils in formulations.

Cruelty-free mandates across markets like Europe and restrictive policies pertaining to animal testing have added to the impetus for natural ingredient R&D. Personal care brands are actively formulating new vegan and green ranges sans common allergens like fragrance, dye, or parabens to welcome flexible shoppers. As awareness rises about sustainability issues plaguing mainstream beauty, there is growing willingness to pay a premium for natural alternatives having ecological credibility. Brands are quick to capitalize on this niche, introducing lines featuring novel plant actives and superfoods to differentiate their nature-focused propositions. Mango seed oil checks many boxes that resonate with this conscientious cohort valuing organic credentials, supportive of indigenous produce.

Rising interest in multi-benefit formulations is another driver. Today’s time-starved consumers expect more utility from their cosmetic buys. Products flaunting nutritional bonuses and active properties for total skin health gain favor.

Key Takeaways from Analyst:

Demand for mango seed oil is expected to steadily increase driven by its extensive benefits for skin and hair care applications. As consumers become more aware of the moisturizing and anti-aging properties of mango seed oil, its use in cosmetic products will rise significantly.

North America currently dominates the market owing to large mango production in region. However, Asia Pacific is projected to emerge as the fastest growing regional market for mango seed oil. Increased consumer preference for natural and organic cosmetic ingredients across countries is a major factor augmenting demand. Additionally, rising trend of mango seed oil usage in aromatherapy applications will further support the market expansion.

While rising commodity prices of mango fruits pose a challenge, sustained R&D investments by manufacturers to discover new applications of mango seed oil will act as an opportunity. Establishing globally uniform quality and safety standards can help overcome restraints related to international trade of mango seed oil. Overall, the widespread popularity of natural cosmetic products coupled with diverse health benefits of mango seed oil indicate a very promising outlook. However, competitive pressures from alternative carrier oils may affect the market growth to some extent.

Market Challenge - Risk of supply shortage due to dependence on climate conditions

The global mango seed oil market faces risks due to its dependence on favorable climate conditions for mango cultivation. Being an agricultural commodity, mango production is heavily influenced by weather patterns. Extended periods of drought or unseasonal rains can severely impact the mango crop yields. Since mango seed oil is extracted from mango seeds, any disruption in mango supplies automatically affects the availability of mango seeds and consequently mango seed oil. Recent climate changes have already led to supply shortages of mango in key producing regions like India and Pakistan. As per industry analysts, such weather-induced supply risks are likely to intensify in the coming years due to global warming. This inconsistent supply creates uncertainties for mango seed oil buyers and hinders long-term business planning for mango seed oil producers. Ensuring stable supplies remains a major challenge that needs addressing to help the market realize its true growth potential.

Market Opportunity - Formulation Development

The global mango seed oil market presents significant opportunities for players who can develop innovative product formulations. Since mango seed oil has properties like emollience and antioxidant benefits, it can be formulated into various personal care and cosmetic products. Developing new formulations that leverage the functional attributes of mango seed oil can help expand its end-use applications. For instance, introduction of mango seed oil in formulations for skin care creams, hair oils, lip balms, etc. With the rising demand for natural ingredients in cosmetics, such application-oriented innovations provide excellent opportunities to launch new premium products in the market. This can aid brands to attract new consumers as well as command higher profit margins. Extensive R&D in formulation development thus holds the key to stronger market positioning and growth for mango seed oil in the coming years.

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Insights by product type: Natural appeal drives the demand for cold-pressed mango seed oil

In terms of product type, cold-pressed mango seed oil is expected to contribute 60.0% share of the market in 2024, owing to growing consumer preference for natural products. As a cold-pressed variant, it retains most of the nutrients and antioxidants originally present in raw mango seeds. Consumers are increasingly health-conscious and seek out natural ingredients that offer nutritional benefits. Cold-pressed mango seed oil delivers on this demand since it is processed at low temperatures without the use of any chemicals, ensuring maximum retention of vitamins, minerals, and fatty acids. Its fresh, light texture, and mild aroma also appeal to consumers who wish to avoid additives and preservatives in their personal care products.

The natural positioning of cold-pressed mango seed oil has made it a popular ingredient among premium cosmetic brands. It is widely used in high-end skin care creams, lotions, and serums targeting conditions like acne, eczema, and signs of aging. Affluent consumers are ready to pay more for natural solutions that deliver visible results. Cold-pressed mango seed oil satisfies this lucrative wellness-focused demographic with its antioxidant and anti-inflammatory properties. Social media influencers have also promoted its benefits, further raising awareness. As health concerns increase worldwide post-pandemic, the organic credentials of cold-pressed variants will continue attracting buyers.

Insights by application: Growing skincare industry powers cosmetics and personal care segment

In terms of application, cosmetics and personal care is expected to contribute 34.4% share to the global mango seed oil market in 2024. This is because the skincare industry has been expanding rapidly due to the widespread influence of beauty bloggers and vloggers online. Consumers are more image-conscious and eager to emulate the glowing complexions of their favorite influencers. At the same time, people now pay closer attention to ingredients in personal products due to elevated health standards. Mango seed oil addresses both these trends with its antioxidant-rich composition that nourishes the skin from within.

Its popularity in cosmetic formulations stems from properties like anti-aging effects, skin rejuvenation abilities and wound healing capacity. These benefits have been proven through numerous clinical studies as well as traditional practices in Asia. As such, mango seed oil provides the anti-inflammatory, emollient and regenerative characteristics required for products targeting various skin concerns. Leading brands are incorporating it into everything from face moisturizers and cleansers to serums, massage oils and lip balms. Its versatility across demographics and skin types maximizes outreach. With urban lifestyles aggravating issues like dryness, pigmentation and signs of aging, demand for results-driven skincare will keep the cosmetics segment in the lead.

Insights by distribution channel: Ease of access drives the online retail segment

In terms of distribution channel, online retail is expected to contribute 32.4% share to the global mango seed oil market in 2024. The digital revolution has transformed consumer purchasing habits worldwide. People now appreciate the convenience of shopping from home, especially for premium wellness products. Online platforms provide access to a wide variety of national and international brands under one virtual roof. Customers can easily compare features, read reviews, and have items delivered direct to their doorsteps.

Compared to traditional retail shops with limited floor space, e-commerce allows brands maximal scope for showcasing their unique portfolios. Online descriptions supported by multimedia help buyers understand complex product benefits and suitability for their needs. This educational environment fosters familiarity with niche ingredients like mango seed oil. Attractive promotional mechanisms on websites and apps like deals, free samples and loyalty programs also encourage exploration and repeat buying. Social platforms facilitate peer recommendations while digital payment options address security concerns.

The progressive expansion of internet infrastructure globally has brought formerly remote locations within the transactional mainstream. Online channels accommodate consumers regardless of geographic restrictions. For natural oils demand is growing beyond metropolises into smaller cities and towns as wellness awareness spreads. E-tailers are thus optimally positioned to capitalize on this far-reaching emerging market.

Regional Insights

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North America has emerged as the dominating global region in the mango seed oil market. The region is expected to hold 36.7% of the market share in 2024, owing to the strong growth of specialty personal care and cosmetic products industries in the U.S. Health-conscious consumers are increasingly opting for natural and organic ingredients in their daily grooming regimes and mango seed oil fits well due to its numerous anti-aging and moisturizing properties. The presence of numerous cosmetics brands and retailers in America provides easy availability and visibility to mango seed oil-based products. Furthermore, imports of raw mango seeds and oil have increased steadily over the past five years to support growing demand. America is also a net exporter of value-added mango seed oil products to markets in Europe and Asia Pacific, establishing itself as global price leaders. Domestic production in western hemisphere countries like Mexico and Peru also caters to a significant part of North American requirement through cost-effective land and sea transportation routes.

Within Europe, France has cemented its position as the fastest growing regional market for mango seed oil. This can be attributed to increasing popularity of natural cosmetic brands from France worldwide. Furthermore, the focus of French cosmetic science on novel and exotic ingredients has enabled the local industry to introduce differentiated mango seed oil based products. France is also a major import/re-export hub for mango seed oil catering to huge European demand. In addition, Europe's stringent regulations ensure the quality and authenticity of imported mango seed oil and derivatives. Retail penetration in France and other major European economies has further boosted easy access and affordability. Rising exports to Africa and the Middle East also present lucrative growth avenues for European industry players. The favorable regulatory environment and strong cosmetic industry ecosystem in places like France are effectively influencing it as the fastest growing region globally for mango seed oil market.

Market Report Scope

Key Developments

• In 2021, Ayursetu launched XQUISIT, a range of herbal personal care products that includes a herbal haircare line featuring mango seed butter as a key ingredient. This launch emphasizes the growing trend of incorporating natural ingredients in personal care formulations.

*Definition: The global mango seed oil market involves the production, distribution, and sales of oil that is extracted from mango seeds. Mango seed oil has several benefits such as being high in antioxidants, containing fatty acids that nourish the skin and hair, and having anti-inflammatory properties. It is used in cosmetics, skin care products, and pharmaceuticals. The global market covers companies that produce, package, and market mango seed oil worldwide targeting manufacturers and distributors.

Market Segmentation

•  Product Type Insights (Revenue, USD Mn, 2019 - 2031)
• • Cold-Pressed Mango Seed Oil
  • Refined Mango Seed Oil
  • Other Variants
•  Application Insights (Revenue, USD Mn, 2019 - 2031)
• • Cosmetics and Personal Care
  • Food and Beverage
  • Pharmaceuticals
  • Others
•  Distribution Channel Insights (Revenue, USD Mn, 2019 - 2031)
• • Online Retail
  • Supermarkets/Hypermarkets
  • Health and Beauty Stores
  • Others
• By Regional Insights (Revenue, USD Mn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • 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
  • Caradora Health Solutions