Sesame Oil Market Projected to Witness a Single-Digit CAGR During 2017 to 2022

Posted on 2019-03-28 by Mark Hub in Food & Beverage // 0 Comments

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A primary factor attributed to growth of the global sesame oil market is its utilization in various massage oils, beauty products, Ayurveda, and different cuisines. As compared to the number of essential oils available in the market, sesame oil has witnessed higher adoption among consumers, as it is the oldest form of edible oil that is known to humans. Excessive health benefits rendered by sesame oil owing to its nutritional value has sustained its demand across the globe. In addition, the power packed sesame oil has been proved beneficial for health, if it is consumed after consulting the doctor. Sesame oil has also deemed fruitful for health of hair and skin. On the back of these benefits, sesame oil production is expected to rise, which in turn will influence growth of the sesame oil market around the world.

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Sesame oil is extracted from plant species known as Sesamum Indicum, an herbaceous annual that belongs to Pedaliaceae family, reaching about 1.8 meter in height. Over the past couple of years, western herbalists have sesame oil for various therapeutic purposes. Sesame oil is being used as an imperative ingredient in margarine, as well as salad dressings, for cooking purposes, and in certain skin softening and cosmetic products. Sesame, native to Africa and Asia, is primarily cultivated in China, and India.

Consumption of sesame oil has been facing a paradigm shift among consumers, gaining popularity across regions such as Asia, and North America. Governments across the globe are taking initiatives, considering allowing bulk sesame oil export, which in turn will support farmers who have been facing distress in selling their crops. The fear of low realization, associated with outcomes of sowing sesame seeds, has shifted the focus of governments in considering approval of sesame oil exports. These incidences will further influence growth of the sesame oil market across the globe.

The global sesame oil market is anticipated to exhibit an average expansion throughout the forecast period 2017 to 2022. Sesame oil is witnessing an uptick in use for cooking purposes, coupled with its increasing utilization as an important ingredient in salad dressings, and margarine. Revenues from sales of sesame oil across the globe is estimated to exceed US$ 9,000 Mn in revenues by 2022-end.

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Europe – Most Lucrative Region for Sesame Oil Market

In terms of revenues, Europe will remain the most lucrative region for the sesame oil market. Revenues from sales of sesame oil in Europe will account for over one-fourth share of the market during 2017 to 2022. Asia Pacific excluding Japan (APEJ) is estimated to be the second largest market for sesame oil by 2022-end.

Specialty stores will continue to witness the fastest expansion in sales of sesame oil, based on distribution channels. Modern trade will remain the largest distribution channel for sesame oil over the forecast period, with sales estimated to account for more than one-third share of the market, in terms of revenues, during 2017 to 2022.

By end-users, retail segment will continue to be the most lucrative in the global sesame oil market, with sales expected to exhibit the highest CAGR through 2022. Sales of sesame oil in food processor segment will continue to be sluggish throughout the forecast period.

Processed sesame oil are estimated to remain preferred among products in the market. Sales of processed sesame oil will account for nearly US$ 7,000 Mn revenues by 2022-end. Revenues from sales of processed sesame oil will account for approximately three-fourth share of the market during the forecast period.

Competition Tracking

Global leaders in the sesame oil market as profiled in Fact.MR’s report include The Adani Wilmar Ltd., Archer Daniels Midland Company, Marico Limited, Ruchi Soya Industries Limited, Cargill Inc., ConAgra Foods (Agrotech Foods Ltd), Fuji Oil Holdings Inc., Olympic Oils Limited, American Vegetable Oils, Inc., Adams Group Inc., Borges International Group S.L.U., Bunge Limited, and Associated British Foods plc.

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