Global Carrot Seed Oil Market - 2023-2030

Overview

Global Carrot Seed Oil Market reached US$ 720.12 million in 2022 and is expected to reach US$ 1028.79 million by 2030, growing with a CAGR of 4.56% during the forecast period 2023-2030.

Increasing health demand for natural oils is one of the major driving factors for the global carrot seed oil. The high health benefits associated with the use of carrot seed oil help in the wide expansion of the market in multiple applications such as its use in medicinal products and aromatherapy.

The product is available in food grade and therapeutic grade with a purity of 99 % and 100 % for easy access and use in various applications. Manufacturers are introducing carrot seed oil in attractive and convenient packaging such as bottles, pouches and cans for its comfortable use in residential and industrial use, increasing the market demand.

The increasing demand for natural cosmetics ranges is increasing the new product launches in the market, increasing the market size. In December 2022, Mario Badescu, a skin care products brand, announced the launch of its first Vitamin C Cream. The product is claimed to improve skin's texture and promote collagen and is made of sunflower seed oil, carrot root extract and carrot seed oil to reduce the inflammation of the cells.

Dynamics

High Use of Carrot Seed Oil in Personal Care Products

The carrot seed oil has various beneficial properties resulting in its use in various applications such as skin and health care products. Carrot seed oil possesses a potential anti-ageing effect due to its rich free radical effect. They are highly used in sunscreens due to thier property of protection against sun damage. The antibacterial, anti-fungal and anti-inflammatory properties of the carrot seed oil help in reducing various skin diseases.

In addition, carrot seed oil possesses various hair care benefits such as its role in scalp nourishment and dandruff management. The oil helps in promoting hair growth by stimulating blood circulation in the scalp. Everyone For Every Body creates pure, multi-use body and skin products infused with essential oils. The brand announced the launch of Dreamy Shampoo in May 2023. The product is claimed to help moisturise and nourish hair.

In May 2022, Modicare Limited announced the expansion of thier market size with new product offerings such as the Blue Light Shield Range. Moisturising Creme, Gentle Face Wash and other products are included in the product range. The products are produced with Urban Color London's proprietary technology that can help neutralize the Blue Light rays effect. The key ingredients used in this product formulation include beta carotene, carrot root extract and carrot seed oil.

Health Benefits Associated Carrot Seed Oil

Carrot seed oil is a rich source of beneficial nutrients and biologically active compounds, such as carotol and beta-carotene. Carotol is a primary ingredient known for its skin-rejuvenating properties, while beta-carotene is a powerful antioxidant. The oil also contains significant amounts of vitamins A, C, and E and other antioxidants, making it highly beneficial for both health and skincare.

Traditional medicine systems, such as Ayurveda and Chinese medicine, have recognized the benefits of carrot seed oil for centuries. It has been used for various applications, including skincare, hair care, and overall health. Carrot is highly adopted for its use in wellness and pharmaceutical products.

Allergic Concerns of Carrot Seed Oil

Carrot seed oil causes skin irritation and allergic reactions in some of the individuals. Allergic reactions such as skin rash and risk of sunburn can result from using raw or undiluted carrot seed oil. Side effects may include redness, burning sensation, and rashes. The oil is also reported to have possible interactions with certain medications associated with liver and kidney, distancing consumers away from the product.

Segment Analysis

The global carrot seed oil market is segmented based on type, packaging, purity, application and region.

Healthy and Flavor Benefits of Carrot Seed Oil

The global carrot seed oil market is segmented based on application into cosmetics & personal care, medical and food & beverage. The food & beverage segment accounted for the largest share of the global carrot seed oil market. Carrot seed oil adds flavor and healthy characteristics to the product, increasing its use as cooking oil.

The great antioxidant properties of carrot seed oil help support heart health by reducing inflammation and making it a healthier option for other oils in the market. High health benefits associated with the use of carrot seed oil are increasing its demand in the market. Carrot seed oil is used in stir-frying, baking and sauteing.

Geographical Penetration

Increased Health Consciousness Among Consumers of Asiaa-Pacific

Asia-Pacific dominated the global carrot seed oil market. The increasing health consciousness among the consumers of this region is motivating consumers to incorporate natural and healthy products into their daily lifestyles. Consumers of this region are focusing on the use of organic and natural oils such as carrot seed oils in their food products.

The high demand for natural cosmetic and personal care products in countries such as South Korea, China, Japan and India is driving product manufacturers to incorporate naturally sourced oils and other ingredients in skin care products to attract more consumers. In addition, increased consumer awareness regarding the health benefits of the use of carrot seed oil and the high use of these products in medical products in this region, drive the market growth.

Competitive Landscape

The major global players in the market include Kazima Perfumers, Kanta Enterprises Private Limited, Robertet, PerfumersWorld, Now Foods, Cathy's Attars, HealthAid Limited, Leven Rose, Givaudan and Ultra International B.V.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic had a mixed impact on the global carrot seed oil market. Improper facilities such as reduced raw material sourcing and workforce facilities negatively affected the market growth temporarily. The strict lockdown regulations from the government interrupted the distribution of products into the market.

The increased consumer health consciousness increased the demand for natural and health-based products. Increased consumer interest in the adoption of healthy ingredients in their food products to improve their health conditions and increase their immune system increased the demand for natural oils such as carrot seed oil. The high consciousness of consumers in natural cosmetics increased the market demand in the pandemic time.

Russia- Ukraine War Impact

The Russia-Ukraine war greatly impacted several industrial sectors, including the food sector. The interrupted supply chain activities on the global level created a scarcity of raw materials and other essential resources and paused the production and processing of various products, including carrot seed oils. The interrupted trade transitions had a negative impact on the market.

By Type

• Natural
• Synthetic

By Packaging

• Bottle
• Can
• Other

By Purity

• 99%
• 100%

By Application

• Cosmetics & Personal Care
• Medical
• Food & Beverage
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In May 2023, Everyone For Every Body announced the launch of various new products into the market including Mighty Conditioner, the product made of carrot seed oil that helps in nourishing hair with Vitamin A & Vitamin E.
• In November 2022, Monat, a global leader in naturally based, healthy ageing products, announced the expansion of thier product offering with the launch of Color Cosmetics With BB Cream SPF 40. This multi-purpose tinted moisturizer is made of various beneficial ingredients including grapeseed oil, rice bran and carrot seed oil.

Why Purchase the Report?

• To visualize the global carrot seed oil market segmentation based on type, packaging, purity, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of carrot seed oil market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global carrot seed oil market report would provide approximately 69 tables, 66 figures and 214 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies