The Asia Pacific Onion Oil Market would witness market growth of 11.1% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 1,198.1 thousand units, showcasing a growth of 28.3% (2020-2023).
The supermarket/hypermarket distribution channel plays a crucial role in the onion oil market by providing extensive reach and accessibility to a wide range of consumers. These large retail outlets offer a one-stop shopping experience, attracting a diverse customer base that includes health-conscious individuals, beauty enthusiasts, and general consumers. Thus, the Chinese hypermarkets registered a volume of 200.5 thousand units in 2023.
The China market dominated the Asia Pacific Onion Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $11,848.2 Thousands by 2031. The Japan market is registering a CAGR of 10.5% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 11.8% during (2024 - 2031).
Various market dynamics and consumer preferences have influenced the adoption of this oil, driving its growth across different sectors. Consumer awareness regarding the health benefits of natural and organic products has significantly contributed to adopting this oil. Products derived from natural sources, such as onions, are increasingly being preferred by consumers due to their perceived health benefits and minimal environmental impact, as opposed to synthetic constituents. This trend has increased demand for this oil across various demographics, including health-conscious individuals, beauty enthusiasts, and those seeking holistic wellness solutions.
The trend towards natural and sustainable products has played a pivotal role in adopting this oil. As consumers become more informed about the potentially harmful effects of synthetic chemicals in personal care and healthcare products, they are actively seeking natural alternatives. With its rich antioxidant, antimicrobial, and anti-inflammatory properties, this oil aligns well with this shift towards clean-label ingredients in skincare, haircare, aromatherapy, and dietary supplements.
Korean cosmetics are renowned for their innovative formulations and effective ingredients. Incorporating this oil into new product lines, such as anti-hair loss treatments or scalp care products, can attract consumers looking for novel solutions. As per the International Trade Administration (ITA), for 2021, the total value of cosmetics produced in South Korea was $14.5 billion, and cosmetics exports hit a record high, growing 21.3 percent from the previous year to $9.2 billion. South Korea’s trade surplus in the cosmetics sector grew by 28.6 percent to $7.8 billion. As the cosmetics market in South Korea expands, driven by both domestic consumption and international exports, the demand for specialty ingredients like this oil could see a substantial rise. This growth presents opportunities for suppliers and manufacturers within the market. With a well-informed consumer base interested in skincare and haircare trends, awareness about the benefits of this oil in cosmetic applications will likely grow. Marketing campaigns highlighting their efficacy in addressing specific beauty concerns can further drive demand. Thus, expansion of the region’s cosmetics and hair care industries is propelling the market’s growth.
Free Valuable Insights: The Global Onion Oil Market is Predict to reach USD 112.6 Million by 2031, at a CAGR of 10.7%
Based on Nature, the market is segmented into Conventional, and Organic. Based on Distribution Channel, the market is segmented into Supermarket & Hypermarket, Specialty Store, Online, and Others. Based on End User, the market is segmented into Women, and Men. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Nature (Volume, Thousand Units (100 ml), USD Million, 2020-2031)
By Distribution Channel (Volume, Thousand Units (100 ml), USD Million, 2020-2031)
By End User (Volume, Thousand Units (100 ml), USD Million, 2020-2031)
By Country (Volume, Thousand Units (100 ml), USD Million, 2020-2031)
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