The Tomato Seed Oil Market in Asia Pacific is projected to grow significantly by 2031, driven by demand for natural ingredients and vegan trends.
As per the latest analysis by FMI, the tomato seed oil market in Asia Pacific is projected to total US$ 52.8 million in 2021. Growing application of tomato seed oil across various industries such as food and beverage, animal feed, and cosmetics is facilitating its sales in Asia Pacific. Driven by this, the Asia Pacific market is estimated to reach US$ 106.4 million by 2031.
Demand for tomato seed oil increased at a CAGR of 5.9% between 2016 and 2020. Consumer preference for natural ingredients in their food & beverage products and growing trend of veganism amongst millennials are projected to push sales in the market at a CAGR of 7.3% over the forecast period 2021-2031
Tomato seed oil is extensively used in the production of cosmetic and personal care products such as anti-aging serums, body butter, sunscreens, and fairness cream due to its high linoleic acid, lecithin, antioxidants, and natural ultraviolet (UV) protection attributes.
Expansion of cosmetics and personal care industries in countries such as India, China, Japan, and South Korea will therefore create remunerable opportunities for sales of tomato seed oil in Asia Pacific.
Unrefined tomato seed oil is projected to emerge as the most preferred form in the market. Sale of unrefined tomato seed oil is likely to accelerate on account of its nutritional value and low concentration of chemicals. As per FMI, demand for unrefined tomato seed oil is anticipated to accounts for nearly 76.6% of the sales in the region by 2021.
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“Rising demand for clean-label ingredients within food and cosmetics industries will increase tomato seed oil demand. The market also will gain from green initiatives adopted by food producers to cater the rising demand for plant-based ingredients,” says the FMI analyst.
Key Takeaways from Tomato Seed Oil Market Analysis
Key Drivers
Key Restraints
Competitive Landscape
As per FMI, top 5 companies operating in the tomato seed oil market are estimated to account for nearly 75% of the revenue share in 2021. Leading manufacturers are focusing on upscaling their digital marketing capabilities to expand their consumer base. Some of the players are engaging in agreement and strategic collaboration with other industries to increase their market share. For instance,
Some of the key players operating in the market profiled by FMI are:
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More Valuable Insights on Tomato Seed Oil Market
FMI, in its new report, offers an unbiased analysis of the global tomato seed oil market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in tomato seed oil market with detailed segmentation:
By Form:
By Nature:
By Distribution Channel:
By End-Use:
By Packaging:
By Countries:
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Key Questions Covered in the Report
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The article discusses the growth and trends of the Tomato Seed Oil Market in Asia Pacific by 2031.
The market growth is driven by the demand for natural ingredients and the rise of veganism.
China, India, Japan, and South Korea are key players in the Asia Pacific market.
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