Ben Oil Market Share, Size, Trends, Industry Analysis Report, By End Use (Cosmetics, Foods & Beverages, Pharmaceuticals, and Others); By Sales Channel (Offline, Online); By Region; Segment Forecast, 2023 - 2032
- Published Date:Jul-2023
- Pages: 115
- Format: PDF
- Report ID: PM3556
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global ben oil market was valued at USD 7.84 billion in 2022 and is expected to grow at a CAGR of 9.4% during the forecast period. Increasing demand for natural and organic products worldwide, as consumers are becoming more health-conscious and aware of the potential harmful effects of synthetic ingredients and surging number of consumers looking for alternatives to conventional oils and synthetic skincare products, are among the primary factors fueling the demand and growth of the market at exponential pace.
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The product is being increasingly used as a supplement due to its potential health benefits including rich in anti-oxidants and anti-inflammatory compounds, which can help support the immune system, reduce inflammation, and improve overall health and introduction to new products made with ben oil, has been pushing the growth forward.
For instance, in April 2023, BigBrother Nutra Care, announced the launch of its new artisanally designed ‘Kalimera Gold Hair Oil’, which contains moringa oil and argan oil that are known for its antioxidant & antimicrobial, anti-aging, and other beneficial properties. The newly developed product help to restructure and strengthen hair and ensure the hair hydration.
Moreover, several technological developments have also improved the ability to test the quality of ben oil, and ensures that it meets the required standards to be used in food, cosmetics, and other products. Methods such as gas chromatography and spectrophotometry are now being used to analyze the chemical composition of the oil and detect any impurities or contaminants, helping companies to simplify their processes.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the ben oil market. The rapid spread of the deadly coronavirus across the globe resulted in highly disrupted supply chains for many industries and several types of restrictions on international trade, transportation, and movement of goods, which have made it more difficult for companies to import and export ben oil and other moringa products worldwide. However, the pandemic has changed consumer buying behavior and increased their awareness about their health and well-being, which led to high demand for natural products like ben oil.
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Industry Dynamics
Growth Drivers
The significant increase in the use of moringa across the agriculture sector has been creating several opportunities for both industrial and medical applications, as it contains several essential nutrients and bioactive compounds that are very crucial to be used as food supplements, are driving the global ben oil market. With the growing interest towards the development of functional food products and use of moringa as preservative in order to prevent lipid oxidation, is likely to contribute significantly for the market growth globally.
Furthermore, growing prevalence for various types of advances in farming technologies such as precision agriculture and hydroponics, that have improved and enhanced the efficiency and yield of moringa crops that are the major sources of ben oil, while allowing farmers to monitor and control factors including soil moisture, fertilizer use, and pest control, which can improve crop yields and quality, are also driving the demand and growth of the global market at exponential pace.
Report Segmentation
The market is primarily segmented based on end use, sales channel, and region.
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By End Use |
By Sales Channel |
By Region |
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Pharmaceuticals Segment Accounted for the Largest Market Share in 2022
The pharmaceuticals segment accounted for maximum market share in 2022, and is likely to retain its market position throughout the anticipated period, mainly accelerated to widespread use of moringa seeds in the medicine production, as they are great source of B-carotene and various types of antioxidants used in human consumption. With the drastic increase in the prevalence of chronic diseases such as diabetes, hypertension, and cancer across the globe, the demand for ben oil has significantly increased due to its anti-inflammatory and antioxidant properties, which make it a potential ingredient in drugs used to treat these conditions, thereby propelling the segment market growth.
According to the Department of Biotechnology, there are over 77 million people are currently living with diabetes in India, which is the highest in the world and is projected to reach 134 million people by 2045. And, in India, non-communicable diseases cause for 53% of total deaths and approx. 44% of disability-adjusted life-years lost.
The food & beverage segment is expected to grow at fastest growth rate over the coming years, which is mainly driven by growing product use in wide range of food products including cooking oils, salad dressings, and baked foods as a healthier option or alternative to other oils. In addition, with the growing trend towards the veganism, that has led to an increased demand for plant-based products including food products made with ben oil due to its high suitability for vegan diets, is further likely to drive the market growth at rapid pace.
Online Segment is Projected to Witness Highest Growth
The online segment is projected to exhibit highest growth rate during the anticipated period, on account of rapid increase in the smartphone penetration and access to fast internet facilities across both developed and developing regions and significant expansion of various online platforms offering these products at very competitive price. Moreover, growing popularity of online shopping among consumers, as it allows consumers to access a wider range of products with ease and convenience and increasing number of online sellers proving complete information regarding the products they are selling including sourcing, ingredients, and manufacturing process, is encouraging consumers to opt for these shopping platforms and fueling the segment growth.
The offline segment led the industry market with substantial market revenue share in 2022, which is mainly attributable to widespread availability of ben oil in physical retail outlets such as health food stores and supermarkets and large number of consumers who prefer to shop in-store can easily find ben oil in these retail outlets. Additionally, increasing preference to buy products in-store due to the convenience and immediacy of the purchase, as they can browse the product, check the label, and make an informed decision before making the purchase, has been influencing the growth of the market.
North America Region Dominated the Global Market with Substantial Share in 2022
The North America region dominated the global market with substantial revenue share in 2022, and is expected to maintain its dominance throughout the forecast period, mainly due to robust presence of companies producing ben oil and significant adoption of vegan and organic products among health-conscious consumers. Moreover, consumers across the region are becoming increasingly environmentally conscious and are seeking out products that are both natural and sustainable along with the emergence of health and wellness trends mainly in countries like US and Canada, are driving the global market growth.
The Asia Pacific region is anticipated to be the fastest growing region with a healthy CAGR over the study period, owing to increasing product usage in the food industry as a healthier cooking oil and nutritional supplement coupled with the surging product utilization in wide range of natural and organic skincare products. Governments in Asia Pacific region are providing support to promote the use of natural and organic products including ben oil, to boost the region's agriculture sector and are also investing in research and development to explore the potential of the product as a sustainable alternative to traditional oils, which in turn, creating new growth potential for the regional market.
Competitive Insight
Some of the major players operating in the global market include Katyani Exports, AOS Products, Dawn Naturals, Kerfoot, Avi Naturals, Mother Hubs, Asili Natural Oils Jedwards International, Green India, Moringa Connect, MoSagri, Moringa Malawi, Botanica Natural Products, Organic India, Ayuritz, Marudhar Impex, True Moringa, Ancient GreenFields, Genera Nutrients, and Moringa Wellness.
Recent Developments
- In August 2021, RAMICOS Cosmetics announced the launch of its completely new range of products with several new formulas that are vegan and clean, freshly packaged, and offers a new experience to their customers. Their new products line are highly enriched with moringa and rosemary oil, which has several unique qualities to easily penetrate the human skin and detoxify it.
- In May 2022, Mars Food launched two new range of their Ben’s Original portfolio, which is a new plant-based meal line available in three different variants including Spicy Lentil Stew, Sweet Potato & Chicken Tikka Masala, and Chilli Non-Carne. The new melas have been co-created mainly to make it easier for consumers to prepare delicious meat-free versions of their most-loved recipes.
Ben Oil Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 8.56 billion |
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Revenue forecast in 2032 |
USD 19.21 billion |
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CAGR |
9.4% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By End Use, By Sales Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
Katyani Exports, AOS Products Pvt. Ltd., Avi Naturals, Dawn Naturals, Kerfoot Group, Mother Hubs, Asili Natural Oils Limited, Jedwards International Inc., Green India, Moringa Connect, MoSagri, Moringa Malawi, Botanica Natural Products, Organic India, Ayuritz, Marudhar Impex, True Moringa, Ancient GreenFields, Genera Nutrients, and Moringa Wellness. |
FAQ's
The ben oil market report covering key segments are end use, sales channel, and region.
The global ben oil market size is expected to reach USD 19.21 billion by 2032.
The global ben oil market is expected to grow at a CAGR of 9.4% during the forecast period.
North America is leading the global market.
key driving factors in ben oil market are surge in awareness among consumers about healthy consumable products.
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