Over the years, the global demand for aromatic oils in various applications has increased due to the rise in health consciousness among people. Carrot seed oil is processed from the extraction of a carrot plant, which is effectively used for many skin- and face-related problems. Moreover, carrot seed oil has also found its application as a cooking oil in the food industry due to the presence of several nutrients in the carrot seed oil. The global carrot production was estimated at more than 45 Mn tonnes by 2018-end and is expanding at a steady growth rate during the forecast period. The global market for carrot seed oil is anticipated to witness remunerative opportunities over the forecast period owing to increasing demand for natural oils. The global Carrot Seed Oil Market across all the region consists of hundreds of small and large scale processors with their global and regional business and sales footprint.
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Global carrot seed oil market is likely to register strong growth rate during the forecast period
The global carrot seed oil is likely to record steady growth rate in terms of both volume, as well as value sales, during the forecast years on the backdrop of increasing overall production of carrot seed across the developed and developing countries. Among the regions, East Asia is expected to dominate the global production of carrot and its products by 2019-end followed by North America and Europe. These regions are expected to show the same dominance by the end of forecast period due to the presence of key processors and better oil extraction technologies. Moreover, the global market for carrot seed oil is expected to amplify the demand from South Asian and Latin American countries owing to an increase in the number of health concerning population and rising business and production footprint of key processors for carrot seed oil segment in these countries.
Increasing overall production of carrot seed is expected to amplify the sales of carrot seed oil
The global market for carrot seed oil is expected to witness rising demand for carrot seed oil in R&D activities due to its several health benefits and wide application in food, skin care and face care sectors. Some of the other market driving factors behind the growth of carrot seed oil market across the globe includes growing industrialization, rising consumer awareness, rising demand for organic seed oils and increasing overall cultivation of carrot seed among other factors. Also, the low cost of carrot seed oil along with the availability of different types of blends in carrot seed oil is expected to open a plethora of market opportunities for key vendors in the market to attract more consumers. However, lack of manufacturing facilities and product reach in some of the regions may hamper the growth of the global carrot seed oil market over the forecast period from 2019-2029.
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Carrot seed essential oil is expected to play a key role in driving the growth of market
The carrot seed oil market can be segmented on the basis of type, grade, end-use application, sales channel and functionality. On the basis of type, the carrot seed oil market can be segmented into carrot seed essential oil, cold-pressed oil and infused carrot oil. On the basis of grade, the carrot seed oil market can be segmented into therapeutic grade and food grade. On the basis of end-use application, carrot seed oil market can be categorized into B2C and B2B (medical, food, skin care, face care, hair care and others). On the basis of sales channel, the carrot seed oil market can be segmented into modern trade, direct sales, specialty stores, convenience stores, departmental stores, online retailers (company online channel, and third party online channel), and other retail formats. On the basis of functionality, the carrot seed oil market can be segmented into antioxidant agents, anticarcinogens agents, immunoenhancing agents, anti-diabetic agents, anti-inflammatory agents, anti-bacterial agents, moisturizing agents and others. The global market for carrot seed oil can be segmented into seven regions: North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
Growing presence in the emerging countries is likely to remain key focus area for the processors in the upcoming years
Key vendors in the global carrot seed oil market are continuously focusing on increasing investment in R&D to improve the product quality. Some of the market participants in the global carrot seed oil market include Berje, Inc., Albert Vieille, Elixens America, Inc., Ernesto Ventos and Robertet Group, among other prominent players in carrot seed oil market.
The research report presents a comprehensive assessment of the carrot seed oil market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to carrot seed oil market segments such as geographies, type, grade, end use application, sales channel, and functionality.
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