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.
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