Sesame Oil Market to reach US$ 9,000 Mn by 2022
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.
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.
A paradigm shift has been discerned in consumption of sesame oil among people, with its increasing popularity across regions including North America, and Asia. Various governments around the world are now focusing on allowing exports of sesame oil in bulk, for supporting farmers who face distress in selling crops. Fear of low realization related to outcomes of sowing the sesame seeds has inclined concentration of the governments to allow exports of sesame oil. These incidences are further expected to impact growth of the global sesame oil market in the upcoming years.
Key Estimations from Fact.MR’s Report on the Global Sesame Oil Market
- The retail segment is expected to remain the most lucrative among end-users in the global market for sesame oil, with sales estimated to register the fastest expansion through 2022.
- Sales of sesame oil will continue to exhibit a sluggish expansion in food processor segment throughout the forecast period.
- Sales of sesame oil in specialty stores will register the highest CAGR through 2022, based on distribution channels.
- Modern trade will continue to be the most lucrative distribution channel in the market, with sales projected to account for over one-third market share, in terms of revenues, during the forecast period.
- Processed sesame oil will remain preferred product among consumers in the market. Revenues from processed sesame oil sales will account for approximately US$ 7,000 Mn by 2022-end.
- In terms of revenues, sales of processed sesame oil will hold around three-fourth market share through 2022.
- During 2017 to 2022, Europe will continue to be the most lucrative region for the sesame oil market, in terms of revenues. Revenues from sesame oil sales in Europe are expected to account for more than one-fourth market share over the forecast period.
Key market players listed in Fact.MR’s report include Archer Daniels Midland Company, Ruchi Soya Industries Limited, ConAgra Foods (Agrotech Foods Ltd), Olympic Oils Limited, Adams Group Inc., Bunge Limited, The Adani Wilmar Ltd., Marico Limited, Cargill Inc., Fuji Oil Holdings Inc., American Vegetable Oils, Inc., Borges International Group S.L.U., and Associated British Foods plc.
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