Mongongo oil is extracted from the nuts of the mongongo trees, native to Southern Africa. Traditionally, mongongo oil was used to soften and moisten the skin in the dry winter season in Africa. Mongongo oil has various unique properties such as excellent emollient and protectant for hair and skin as well as contain nutrients like copper, calcium, and zinc. It also contains high polyunsaturated fatty acids which remain on skin and hair for a longer time compared to saturated oils or monounsaturated fatty acids. The fatty acids in the oil act as a barrier to prevent moisture from escape and deliver emollient layer on the surface of the skin along with smoothing out rough texture and keep the skin glowing. Additionally, mongongo oil has antioxidant properties that help in stave off damage skin and signs of aging coupled with its regenerating, hydrating, and restricting properties make it a natural hair growth supporter. Currently, mongongo oil is a new entrant to the hair care and skin care products as the core ingredients. It can also be used as a spot treatment for eczema, acne, psoriasis, and various other skin problems.
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Expanding personal care industry, rising trend of personal grooming, rapidly accelerating consumer awareness, increase in demand for organic products, and changing lifestyle are some of the factors accelerating the need for mongongo oil in the market worldwide. Moreover, growing demand for skin care and hair care products due to its sun protection, strong antioxidants properties coupled with increasing disposable income of consumers, the rise in e-commerce activities, and accelerating trend of product premiumization are another factors fueling the growth of global mongongo oil market during the forecast period. However, availability of alternative products in the market such as coconut oil, avocado oil, and growing government rules and regulations may hamper the growth of the global mongongo oil market in the near future.
Rise in concerns for personal grooming, growing population, increasing per capita spending on personal care products, frequently launch of novel skin care products are some of the leading factors driving the growth of the global mongongo oil market. Moreover, new product development, the growing trend of organic cosmetic products, developing research and development activities are expected to grow the mongongo oil market during the forecast period.
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Growing hair related issues among people such as inflamed scalps, dandruff as well as rough, dry or damaged hair is the primary factor due to which mongongo oil market revenue is expected to grow at a rapid growth rate, over the forecast period owing to its nutritional benefits such as it contain vitamins, fatty acids, and proteins which are essential for health, hair growth as well as vitality. Increasing skin problems, changing consumer buying behaviors, product innovation, and product penetration are some of the other factors accelerating the growth of the mongongo oil market.
FMI will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the type, application, and distribution channel of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.