by The Red Raspberry Seed Oil Market is estimated to be valued at US$ 748.4 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Red raspberry seed oil extracted from the seeds of red raspberries and is rich in essential fatty acids such as omega-6 and omega-3 fatty acids, antioxidants and vitamins E. It is widely used in skincare and cosmetic products for its nourishing, hydrating and skin conditioning properties. The oil helps to improve uneven skin tone, diminish acne scars, reduce wrinkles and fine lines and moisturizes dry skin.
Market Dynamics:
Rising health awareness among consumers regarding the benefits of natural ingredients is a major driver for the growth of red raspberry seed oil market. Red raspberry seed oil contains high amounts of vitamins, minerals, antioxidants and essential fatty acids that provide various health benefits. It nourishes and hydrates the skin without clogging pores. Additionally, growing demand for aromatherapy and massage oils due to the stress relieving and relaxing properties of essential oils is also fueling the market growth. Consumers are exhibiting high preference for natural cosmetics and personal care products containing plant-based ingredients over synthetic or chemical-based products, which is further propelling the demand for red raspberry seed oil.
Segment Analysis
Red raspberry seed oil market can be segmented into conventional and organic. The conventional segment dominates the market as it has better availability and is relatively cheaper. However, the organic segment is growing at a faster pace due to rising health and environmental consciousness.
PEST Analysis
Political: There are no significant political risks impacting the red raspberry seed oil market currently.
Economic: Rising incomes and growing health awareness are driving demand for natural personal care products using red raspberry seed oil.
Social: Rising focus on nutrition and wellness is increasing adoption of red raspberry seed oil for its anti-inflammatory and anti-aging benefits.
Technological: New extraction techniques are helping lower manufacturing costs and improve yields of red raspberry seed oil.
Key Takeaways
The global Red Raspberry Seed Oil Market is expected to witness high growth, exhibiting CAGR of 5.1% over the forecast period, due to increasing demand for natural cosmetics. The market size for 2023 is estimated to reach US$ 748.4 Mn.
Regionally, North America dominates the market currently due to strong demand. Europe is also a major market given increasing preference for herbal cosmetics. However, Asia Pacific is expected to witness fastest growth in the coming years led by countries like India, China and Japan.
Key players operating in the red raspberry seed oil market are Botanic Innovations, Sweet Essentials, Healing Hollow Essential Oil, Naissance, Sheabutter Cottage, PureNature, Kari Gran, Majestic Mountain Sage, and The Apothecary in Inglewood. These players are focusing on new product development and penetration into untapped markets to gain competitive advantage.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
