The elaeis guineensis (palm) fruit extract is projected to reach USD 59.08 billion in 2032, and is likely to surge at a CAGR of 6.1% during forecast period of 2022-32
The byproduct of extracting palm oil is elaeis guineensis (palm) fruit. There are several ways to extract the fruit of Elaeis guineensis (palm). Oil and bioactive compounds are the two main types of extracts found in Elaeis guineensis (palm) fruit.
In the market, there is a higher demand for its oil alone. Crude palm oil, elaeis guineensis (palm) fruit extract, and palm kernel oil are the three main categories for palm oil.
Fruit extracts from Elaeis guineensis (palm) are mainly used in the food, beverage, cosmetic, and pharmaceutical industries. Antioxidants found in Elaeis guineensis (palm) fruit extracts aid in natural skin toning. Using Elaeis Guineensis is thought to have the ability to slow down the ageing process (palm) extracts due to its antioxidant property
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A palm fruit contains tocochromanols in the range of 150-160 mg of and almost 30 mg of carotenoids. It is considered healthy for human body. Thus elaeis guineensis (palm) fruit extract has a significant usage in various industries including cosmetic, food & beverages etc. The supplements made from Elaeis Guineensis (palm) fruit extracts are believed to have skincare, and haircare property and also helps in reducing wrinkles & lines on skin.
Elaeis Guineensis (Palm) Fruit Extract Market: Market Dynamics
Consumer awareness of health and safety is rising sky high. Consumers are now focusing on products that are either natural or organic due to their growing knowledge. This has a significant impact on the market. Consumers today are searching for natural or organic food items, natural cosmetics, etc.
Manufacturers have been compelled to develop pertinent products or products with such ingredients due to the rising demand for natural or organic products. Customers favour using healthy oils for cooking and eating natural foods, among other things. Due to its health benefits, Elaeis guineensis (palm) fruit extract oil is being used more and more frequently across the globe.
Elaeis Guineensis (Palm) fruit extract is also growing in market due to its beneficial properties for human body whether it is skincare, haircare or for human health. Elaeis Guineensis (Palm) fruit extract contains healing agents, regenerating or revitalizing agents, antioxidants, anti-aging and anti-acne care properties which drives usage in natural cosmetic products. Due to the growing market demand, manufacturers are producing the Elaeis Guineensis (Palm) fruit extracts.
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Elaeis Guineensis (Palm) Fruit Extract Market: Regional Outlook
Changing lifestyle and growing health & fitness consciousness generate demand for natural and organic products across the world. Developed countries such as North America, Europe are the key countries are believed to have the highest rate of usage of Elaeis Guineensis (palm) fruit extracts. Europe’s higher cosmetic companies’ concentration have also drive the Elaeis Guineensis (ealm) fruit extract market for the particular region.
Asia Pacific is believed to have a significant growth rate for Elaeis Guineensis (palm) fruit extract companies due to the higher degree production of palm trees in Indoneisa and Malaysia. The end product demand is estimated to generate from China, Japan, India, Korea, and other countries in this region. Malaysia & Indonesia have more than 50% of the total palm production in the world. The Middle East & Africa is projected to contribute a significant share of the global market over the forecast period.
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Elaeis Guineensis (Palm) Fruit Extract Market: Key Players
Some of the major players in the Elaeis Guineensis (Palm) Fruit Extract market are Connoils USA, Oil Palm India Ltd., AMJ Indonesia, PT Global Interinti Industry, Soon Soon Oilmills Sdn Bhd, Mewah Group and others. These key market players are estimated to enhance the Elaeis Guineensis (Palm) fruit extract market growth with innovative product formulations and its launch.
KEY SEGMENT
Based on form:
- Oil
- Crude Palm Oil
- Palm Kernel Oil
- Bioactive Compounds
Based on extraction method:
- Supercritical Carbon Dioxide
- Aqueous
- Solvent Extraction
- Cold Pressed
- Others
Based on nature:
- Organic
- Natural
Based on price:
- High Range
- Mid-Range
- Low Range
Based on end use:
- Cosmetics
- Food & Beverages
- Others