Rich in Antioxidants and Assisting in Improved Heart Health, Making Sesame Oil Popular Globally: FactMR Report
Rich in Antioxidants and Assisting in Improved Heart Health, Making Sesame Oil Popular Globally: FactMR Report
Based on the recently updated report by Fact.MR, a market research and competitive intelligence provider, the global sesame oil market is projected to reach US$ 4.87 billion by 2024. Additionally, the market is expected to grow at a CAGR of 5.9% from 2024 to 2034.
Due to its numerous uses and benefits, sesame oil is experiencing a significant surge in global demand. This versatile oil has been utilized in various sectors, including the food industry, cosmetics, and pharmaceuticals. Sesame oil is prized in the kitchen for its distinctive nutty flavor and high smoke point, making it popular in Asian cuisines and increasingly gaining traction in Western cooking.
Sesame oil has gained popularity in the health and wellness industry due to its potential advantages, including heart health benefits and antioxidant properties. This oil's growing popularity is evident in its increased usage in natural skincare and haircare products, appealing to consumers seeking plant-based substitutes. Additionally, sesame oil's rising prominence has been supported by its application in traditional therapies such as Ayurveda.
The demand for sesame oil is rising further as people become more aware of its several applications and as research reveals new ones. In addition to driving up the market for sesame oil, this rising demand is having an effect on sesame seed production all over the world.
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Key Takeaways from the Market Study:
“Sesame oil is helping in improving hair strength and shine, thereby contributing to a hike in demand among female customers,” says a Fact.MR analyst.
Suppliers Working Together on Improving Profit Margins by Using Creative Strategies
Providers of sesame oil are implementing creative tactics to increase revenue and obtain a competitive advantage in the expanding industry. To guarantee quality and cut expenses, several market players are focusing on vertical integration, which involves managing the complete supply chain from seed to shelf. They provide high-quality, traceable items at economic pricing because of this strategy. To stand out in a crowded market, some providers are investing in cutting-edge extraction technology to increase oil quality and production. Others are creating customized formulas for particular markets with high value, such as the pharmaceutical or cosmetics sectors.
Marketing campaigns are focusing on oil's flexibility and health advantages, thereby appealing to both professional cooks and health-conscious customers. To appeal to customers who value ethics, several suppliers are now earning certificates for fair trade and organic products. Direct-to-consumer sales channels and e-commerce platforms are used to boost profits and foster brand loyalty. To appeal to clients who care about the environment, several businesses are also looking into carbon-neutral production techniques and sustainable packaging solutions.
Sesame Oil Industry News:
Key players in the sesame oil market are adopting innovative strategies and launching new products to maintain a competitive edge. One such development includes the introduction of sesame seed extract as a value-added product. Companies are focusing on enhancing product quality, expanding their distribution channels, and catering to the growing consumer demand for premium and organic sesame oil variants. These efforts are aimed at strengthening their market position and capturing a larger share of the expanding global sesame oil industry.
A notable example of product innovation in the market is the launch of toasted sesame oil by Chef David Chang's culinary brand, Momofuku, in May 2021. This addition to the brand’s restaurant-quality pantry staples reflects the rising consumer interest in high-quality cooking oils. The product was made available in two packaging versions: a 2-Pack priced at US$ 25 and a Liquids Starter Pack priced at US$ 30. Such initiatives by key industry players highlight the growing trend of premiumization and the increasing adoption of specialty sesame oil products in the market.
Leading Players Driving Innovation in the Sesame Oil Market:
Key industry participants like Kadoya Sesame Mills Inc.; Yamada Sesame Oil Manufacturing Company; Archer Daniels Midland Company; La Tourangelle, Inc.; Wildly Organic; Chee Seng Oil Factory Pte Ltd.; The Hain Celestial Group; ConnOils LLC; Sesajal S.A de C.V.; Dipasa Group; OLVEA; Ernesto Ventós S.A.; Olivado; Fytel Edible Oils Ltd.; Oh Aik Guan Food Industrial Pte Ltd.; Gustav Heess; Now Foods; Haitoglou Bros S.A.; Midtrans International; Iwai Sesame Oil Co., Ltd. etc. are driving the sesame oil industry.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the sesame oil market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (processed, virgin), and end-user (food service, food processor, retail), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
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Sesame oil is a cooking oil derived from sesame seeds, known for its nutty flavor and high smoke point, making it popular in various cuisines.
Vertical integration is a business strategy where a company expands its operations into different stages of production within the same industry.
Antioxidants are substances that help protect cells from damage caused by free radicals, potentially reducing the risk of chronic diseases.
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