Portland, OR, Nov. 11, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global onion oil market was estimated at $40.2 million in 2020 and is expected to hit $112.6 million by 2030, registering a CAGR of 10.9% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in air pollution, increase in number of millennials, and surge in disposable income among individuals drive the growth of the global onion oil market. On the other hand, potential threat of substitution and availability of counterfeit products restrain the growth to some extent. However, rapid growth of online retail platform is expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic hampered the production facilities of onion oil. Also, the distorted supply chain resulted in loss of business in terms of value sales.
- At the same time, trade restrictions imposed by several countries across the globe in order to curb the spread had significantly affected the global logistics and transportation, which impacted the onion oil market negatively, especially during the initial phase.
- However, the market is expected to recoup soon.
The global onion oil market is analyzed across nature, end user, distribution channel, and region. Based on nature, the conventional segment accounted for the major share in 2020, holding 87% of the global market. The organic segment, however, would exhibit the fastest CAGR of 12.6% throughout the forecast period.
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Based on end user, the women segment generated the highest share in 2020, accounting for around two-thirds of the global market. The men segment, on the other hand, would cite the fastest CAGR of 11.2% from 2021 to 2030.
Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering more than one-third of the global market. The Europe region, simultaneously, is expected to cite the fastest CAGR of 12.7% by the end of 2030. The other provinces studied in the report include North America and LAMEA.
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The key market players analyzed in the global onion oil market report include Authentic Oil Co., Au Natural Organics, Honasa Consumer Pvt. Ltd.(Mama Earth), TNW International Pvt. Ltd. Alphanso Products Private Limited, Essentially Australia, Hindustan Hills, Luxura Business Private Limited, Meena Perfumery, and Soulflower India Private Limited. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
