Onion Oil is a type of hair oil that is used to treat hair rejuvenation, increase blood circulation, control hair falls, and aid in maintaining overall health of hair follicles, control hair breakage, promote hair growth, and cure baldness. Growing hair related issues among consumers, rising number of geriatric population, and increasing awareness regarding the effectiveness of using onion oil for hair have driven the growth of the onion oil market demand. The global onion oil market size was valued at $40.2 million in 2020, and is projected to reach $112.6 million by 2030, registering a CAGR of 10.9% from 2021 to 2030.
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COVID-19 Impact Analysis
- The outbreak of the COVID-19 pandemic witnessed a negative impact on the onion oil market.
- The COVID-19 pandemic not only hampered production facilities but also disrupted supply chains, such as material suppliers and distributors of the onion oil market globally, resulting in loss of business in terms of value sales.
- Trade restrictions imposed by several countries across the globe to curb the outbreak of COVID-19 has significantly affected global logistics and transportation, which negatively affected the onion oil market.
Prominent Market Players
AUTHENTIC OIL CO, AU NATURAL ORGANICS, ALPHANSO PRODUCTS PRIVATE LIMITED( BeardHood), ESSENTIALLY AUSTRALIA, HINDUSTAN HILLS, LUXURA BUSINESS PRIVATE LIMITED, HONASA CONSUMER PVT. LTD.(MAMAEARTH), MEENA PERFUMERY, SOULFLOWER INDIA PRIVATE LIMITED, TNW INTERNATIONAL PVT. LTD.
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Regional Outlook:
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the highest market share in 2020. Rise in number of beauty conscious male consumers in India, China, and Australia has driven sales of onion oil ultimately driving the growth of the overall market. However, Europe is expected to be the fastest growing region during the forecast period.
Reason to Buy:
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✅ The key findings and recommendations highlight crucial progressive industry trends in the Onion Oil Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
✅ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
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