Mongongo Oil Market Outlook
Mongongo oil is extracted from the nuts of the mongongo trees, native to Southern Africa. Traditionally, mongongo oil was used to soften and moisten the skin in the dry winter season in Africa. Mongongo oil has various unique properties such as excellent emollient and protectant for hair and skin as well as contain nutrients like copper, calcium, and zinc. It also contains high polyunsaturated fatty acids which remain on skin and hair for a longer time compared to saturated oils or monounsaturated fatty acids. The fatty acids in the oil act as a barrier to prevent moisture from escape and deliver emollient layer on the surface of the skin along with smoothing out rough texture and keep the skin glowing. Additionally, mongongo oil has antioxidant properties that help in stave off damage skin and signs of aging coupled with its regenerating, hydrating, and restricting properties make it a natural hair growth supporter. Currently, mongongo oil is a new entrant to the hair care and skin care products as the core ingredients. It can also be used as a spot treatment for eczema, acne, psoriasis, and various other skin problems.
Growing demand for Organic Products in Cosmetic & Personal Care Industry is Promoting Demand for Mongongo Oil Market:-
Expanding personal care industry, rising trend of personal grooming, rapidly accelerating consumer awareness, increase in demand for organic products, and changing lifestyle are some of the factors accelerating the need for mongongo oil in the market worldwide. Moreover, growing demand for skin care and hair care products due to its sun protection, strong antioxidants properties coupled with increasing disposable income of consumers, the rise in e-commerce activities, and accelerating trend of product premiumization are another factors fueling the growth of global mongongo oil market during the forecast period. However, availability of alternative products in the market such as coconut oil, avocado oil, and growing government rules and regulations may hamper the growth of the global mongongo oil market in the near future.
Global Mongongo Oil: Market Segmentation
On the basis of product type, the global mongongo oil market has been segmented as –
- Hair Care
- Skin Care
On the basis of source, the global mongongo oil market has been segmented as –
On the basis of the distribution channel, the global mongongo oil market has been segmented as –
- Store-Based Retailing
- Convenience Stores
- Discount Stores
- Specialty Stores
- Online Retailer
Global Mongongo Oil Market: Key Players
Some of the key players operating in the global mongongo oil market are Ouidad, Inc., Mielle Organics LLC, Shea Terra Organics Company, Kalahari Natural Oils Ltd., Caribbean Natural Products Inc., MopTop, Inc., others.
Global Mongongo Oil Market: Key Developments
- In 2016, Ouidad, Inc. introduced novel mongongo oil multi-use curl treatment product to meet the growing need for each curl types. Mongongo oil protect hair damage from heat styling, UV rays, and add shine to curls.
- In 2015, MopTop, Inc. - a manufacturer of hair care products, introduced two new products “MopTop- Co-Wash Cleansing Conditioner and MopTop-Mongongo Oil” that helps in repair hair cells as well as retain strength and elasticity of hair. The company has launched these two products to expand its product portfolio and market share.
Opportunities for Global Mongongo Oil Market Participants
Rise in concerns for personal grooming, growing population, increasing per capita spending on personal care products, frequently launch of novel skin care products are some of the leading factors driving the growth of the global mongongo oil market. Moreover, new product development, the growing trend of organic cosmetic products, developing research and development activities are expected to grow the mongongo oil market during the forecast period.
Growing hair related issues among people such as inflamed scalps, dandruff as well as rough, dry or damaged hair is the primary factor due to which mongongo oil market revenue is expected to grow at a rapid growth rate, over the forecast period owing to its nutritional benefits such as it contain vitamins, fatty acids, and proteins which are essential for health, hair growth as well as vitality. Increasing skin problems, changing consumer buying behaviors, product innovation, and product penetration are some of the other factors accelerating the growth of the mongongo oil market.
Brief Approach to Research
TMR will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the type, application, and distribution channel of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the market, including background and evolution
- Macroeconomic factors affecting the market and its potential
- Market dynamics, such as drivers, challenges and trends
- Detailed value chain analysis of the market
- Cost structure of the products and segments covered in the study
- In-depth pricing analysis, by key product segments, regions and by major market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario
- Analysis of the market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the market, including detailed profiles of the top players in this market
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.