Marula Oil Market Set to Exceed US$ 105.6 Million at 6.1% CAGR by 2034: Fact.MR Study
Traditional Use of Marula Oil Substantial in Meat Preservation Due to its Antioxidant Properties
Rockville, Feb. 26, 2024 (GLOBE NEWSWIRE) — The global Marula Oil Market is estimated to be valued at US$ 58.3 million in 2024, as per a new research analysis published by Fact.MR, a market research and competitive intelligence provider. Worldwide demand for marula oil is forecasted to rise at a CAGR of 6.1% from 2024 to 2034.
Increasing consumer preference for cosmetic products with natural ingredients is projected to lead to a rising demand for organic oils in the cosmetics & personal care industry. Due to its natural origin, health-conscious consumers worldwide also opt for marula oil. This edible oil has traditionally been used in the preparation of certain recipes and for meat preservation due to its antioxidant properties.
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Key Segments of Marula Oil Market Research Report
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Versatility of marula oil is projected to act as one of the prominent drivers for market growth. Furthermore, marula oil can also be used in physiotherapy as massaging oil because it soothes inflammation and redness while hydrating the skin and minimizing wrinkles. Therefore, owing to these benefits, the demand for marula oil is growing not only in developed but also in developing countries.
Key Takeaways from Market Study
- The global marula oil market is estimated at US$ 58.3 million in 2024.
- Worldwide demand for marula oil is forecasted to reach a market value of US$ 105.6 million by the end of 2034.
- The market is projected to expand at 6.1% CAGR from 2024 to 2034.
- The cosmetics & personal care industry is projected to hold 57.6% share of the global market by 2034.
- Sales of marula oil in the United States are projected to rise at 5% CAGR and reach US$ 15.1 million by 2034-end.
- The market in South Korea is forecasted to expand at a CAGR of 8.4% from 2024 to 2034.
“Growing demand for organic and natural products, expansion of the cosmetics & personal care industry, and awareness about sustainable and ethical sourcing of ingredients are increasing demand for marula oil,” says a Fact.MR analyst.
Rising Use of Natural Ingredients in Grooming Products
The United States is projected to hold 75.6% share of the North American market by 2034. Increased demand for marula oil in the country is attributed to the growing adoption of self-grooming products, which is contributing to the expansion of the cosmetics & personal care industry. Growing awareness among more Americans about the benefits of natural ingredients is projected to increase demand for marula oil in personal care products.
Key Market Players
Leading suppliers of marula oil are Marula Natural Products (Pty) Ltd., Marula Company, Phyto Africa GmbH, DLG Naturals, Natural Sourcing LLC, Gramme Products, Kuti Oil, Marula Guys, African Botanics, Gustav Hees, SVA Organics, and Rokit Botanics.
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| Report Attribute | Details |
| Value Projection (2034) | US$ 105.6 Million |
| Growth Rate (2024-2034) | 6.1% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
Growth and Dynamics of Marula Oil in Global Beauty Industry
According to a recent study by Fact.MR, a leading provider of market research and competitive intelligence, East Asia is anticipated to capture a 27% share of the global market by 2034, primarily driven by the increasing production and adoption of organic cosmetics and personal care products.
In the United States, the North American market is projected to be dominated by a 75.6% share by 2034. This growth is fueled by the rising demand for cosmetic products featuring natural ingredients, particularly marula oil. Consumers are increasingly drawn to minimally processed ingredients, contributing to the surge in demand for sustainable lifestyle products derived from natural sources. The popularity of marula oil in body and personal care products is a significant driver of market expansion in the country.
Meanwhile, China is forecasted to account for a 73.9% share of the East Asia market by 2034. The beauty and skincare industry in China is undergoing significant evolution, with manufacturers actively adapting to changing consumer preferences. Marula oil’s inclusion in skincare and cosmetic products is attributed to its exceptional antioxidant and moisturizing properties, along with its rich content of vitamins, antioxidants, and fatty acids. Consequently, it has become a highly sought-after ingredient in the formulation of cosmetics and skincare products.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the marula oil market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on nature (organic, conventional), form (cold pressed oil, cold pressed virgin oil), end use (food processing, foodservice, cosmetics & personal care, retail/household), and distribution channel (business to business, business to consumer [hypermarkets/supermarkets, specialty stores, online retail, and other retail formats]), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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