Andiroba
oil is extracted from the seeds extracted from the tree known as
Andiroba tree which is native to South America. The botanical name of
andiroba tree is carapa guianensis and it is also known as crabwood
and candiroba. The andiroba tree is found abundantly in the Amazonian
areas which includes Brazil and Peru, the tree is also found in parts
of Africa. The oil extraction process is long and need extraction of
seed from nut by boiling the nut followed by fermentation for 25 days
and then oil is extracted. Andiroba oil possess various medicinal
properties such as astringent and anti-inflammatory along with
medicinal compounds such as palmitic acid, andirobin, linoleic acid,
linolenic acid, stearic acid and oleic acid. The andiroba oil is also
high in omega 3 fatty acids, Vitamin A, C and E.
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The
andiroba oil market is anticipated to get robust growth during the
forecast owing to the health benefits associated with the consumption
of andiroba oil. Andiroba oil is used in the manufacture of health
products, cosmetics and insect repellent.
Market
Segmentation:
Global
andiroba oil market is segmented on the basis of source, application,
distribution channel, end user, and region. The global andiroba oil
market is segmented on the basis of source as natural and organic.
The global andiroba oil market is segmented on the basis of
application in cosmetic products, pharmaceutical products and
fragrant products. In cosmetics, andiroba oil for the production of
skin moisturizers, soaps and hair shampoo, in pharmaceuticals,
andiroba oil is used for the preparation of essential oils for pain
relief, and medication for skin and hair. The global andiroba oil
market is segmented on the basis of distribution channel as direct
and indirect. Indirect segment is further sub segmented as
supermarket/hypermarket, online stores and specialty stores. The
global andiroba oil market is segmented on the basis of end user as
industrial and household.
Market
Regional Outlook:
The
global andiroba oil market is geographically divided into five major
regions which includes North America, Latin America, Europe, Asia
Pacific and Middle East and Africa. North America is expected to
dominate the global andiroba oil market during the forecast period
followed by Europe and Latin America. Asia pacific and MEA region is
expected to gain significant growth in global andiroba market due to
increase in demand for essential oils in this region. Global andiroba
oil is expected to get substantial growth over the forecast period
due to increased use of essential oils in the production of
pharmaceutical and cosmetic products.
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Market
Drivers:
The
use of andiroba oil in the production of pharmaceutical products and
cosmetics is expected to drive the global andiroba oil market. Easy
availability of raw material at low cost is expected to drive the
market growth globally. Increasing demand for organic cosmetics
products containing andiroba oil is expected to support the market
during the forecast period. Andiroba oil is mainly used in medicinal
supplements as it contains various properties such as antiseptic,
helps in treating diseases related to digestive and nervous system.
Andiroba oil is widely used in fragrance industry as a component to
impart aroma in products such as lotions and perfumes, soaps, and
detergents. Hence, the global andiroba oil market is expected to
observe robust growth over the forecast period.
Market
Key Players:
Some
of the key players identified across the value chain of the global
andiroba oil market includes Anita Grant, Hallstar, Camden-Grey
Essential Oils, Inc., Teliaoils, PureNature, Gracefruit, Oshadhi
Ltd., Akoma Skincare. The companies are expected to expand their
business by enhancing their product portfolio in global andiroba oil
market. The companies are projected to frame certain strategies in
future in order to gain the competitive advantage in global andiroba
oil market till 2025.
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