Babassu
Oil Market: Overview
Babassu
oil derived from the seeds of the babassu tree. Babassu oil produced
widely in Brazil and is measured a key economic and industrial
resource for the region. Babassu follow similar properties as coconut
oil and is rapidly being used in a substitution of coconut oil.
Babassu oil consist of around 70% lipids and is cold pressed from the
kernel and is produced without chemicals additives. Babassu oil is
commonly used for in making soap and cooking. Babassu mixes well with
most all other oils, like other essential oils such as coconut oil,
olive oil, and others.
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Babassu
Oil Market: Drivers & Restraints
The
major factors driving the growth of babassu oil market are growing
demand of babassu oil in a wide range of applications ranging from
food to pharmaceutical, similar property as coconut oil, increasing
urbanization, and rising disposable income. In addition, babassu oil
is considered as a substitute for coconut oil in numerous
applications including baking, and cooking. Due to this, rising
cholesterol among consumers attributed to the use of coconut oil is
expected to grow babassu oil market in coming years. Further, babassu
oil is also used as a skin moisturizer in the cosmetic segment and as
a biodiesel in several industrial applications. Rising demand for
food on a large scale with increasing industrial activities in
several regions is expected to fuel babassu oil market in coming
years. With rising health awareness among consumers across the world
especially in Asia Pacific countries including China India, and
Malaysia is expected to hinder the coconut oil market. This in turn
is boost the growth of babassu oil demand over the forecasted years.
Babassu oil application such as non- drying oil in foods skin
products, and cleaners are also boosting the growth of the market. On
the other hand, higher availability of coconut oil as compared to
babassu oil is the major factor that is expected to restrain babassu
oil market demand. In addition, lack of awareness on the health
benefits of babassu oil among consumers are likely to restrict is
market especially in developing countries over the forecast years.
Babassu
Oil Market: Regional Outlook
Regarding
geography, babassu oil market has been categorized into five seven
key regions including North America, Western Europe, Eastern Europe,
APEJ, Japan, Latin America, and the Middle East & Africa. Babassu
oil market is expected to register healthy CAGR during the forecast
period. Asia-Pacific represents the significantly high market share
and grow with comparatively high CAGR in forecast period. North
America is experiencing the rapid increase in the production capacity
of babassu oil owing to increasing demand of babassu oil use in
growing end-use industries including foods, cosmetics pharmaceutical,
and personal care industries. Babassu oil market is projected to
register healthy growth due increasing end-user application across
globe. Babassu oil market for Asia Pacific is also expected to
witness rapid growth during the forecast period primarily attributed
to the growth of commercial oil industry, especially in China and
India. Moreover, increasing population and rising demand of coconut
oil, owing to increase demand for babassu oil due to its similar
property in emerging economies of China and India is expected to
boost the growth the APEJ babassu oil market.
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Babassu
Oil Market: Key Players
Some
of the prominent players identified in the babassu oil market are:-
- Shareg Co Ltd
- Guemo Co Ltd
- Aboissa Representacoes S/S Ltd
- Gateway Ltd
- Al-Amin Oils Ltd
- Greenpuma Ltd
- Others
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