The global tamanu oil market is expected to register a robust revenue CAGR of 6.2% between 2022 and 2030. Factors such as rising prevalence of various skin disorders, increasing consciousness regarding aesthetic appeal among women as well as men globally, and rapidly growing use of cosmetics and personal care products are expected to drive market revenue growth over the forecast period. For instance, acne is one of the most prevalent skin disease in the United States, affecting around 50 million people each year. Acne generally begins during puberty and affects large number of teenagers and young adults. In addition, around 85% of persons between the ages of 12 and 24 years have at least minor acne. This is expected to fuel demand for products containing tamanu oil, as it is known to reduce acne scars.
Increasing popularity and use of natural and organic ingredients-based cosmetics, growing purchasing power among users, rising trend of purchasing from E-commerce websites and apps globally, especially in developing countries, are other major factors expected to drive revenue growth of the global market to a significant extent over the forecast period. Consumers are increasingly becoming aware of the harmful effects of synthetic chemicals used to manufacture cosmetics and personal care products. This is leading to shifting preference of users towards natural and organic products, which are perceived to be safer and more effective than synthetic chemicals-based products. In addition, growing number of working women globally, coupled with rising inclination for trying new and innovative natural products such as those products that are easy to carry to office and parties are expected to drive demand for tamanu oil-based skin care products, as these help to maintain youthful appearance.
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Top Players in the Global Tamanu Oil Market:
Amyris Inc., Biosource Naturals LLC, Connock London, Deoiling Technologies LLP, Eco-Tan Pty Ltd., From Nature With Love LLC, Gromax Agro Chemicals Ltd., Kama Ayurveda Pvt. Ltd., Proganix, LLC, and The Jojoba Company.
Some of the factors restraining revenue growth of the global market include lack of awareness regarding the benefits of tamanu oil among consumers and some of the personal care product manufacturers. Also, high cost of raw materials is another major factor that could hamper market revenue growth to some extent.
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Market segmentation based on Product Type Outlook:
- Carrier Oil
- Skincare Oil
- Acne Scars
- Wound Healing
- Burns Sunburns
Distribution Channel Outlook:
- Specialty Stores
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Frequently Asked Questions Answered in the Report:
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- Which regional market is expected to lead in terms of revenue share in the global Tamanu Oil market over the forecast years?
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