The global nutmeg oil market is expected to secure USD 713.7 Million in 2032 while expanding at a CAGR of 6.5%. The market is likely to hold a value of USD 378.8 Million in 2022.
The nutritional and therapeutic values of these oils are increasing in various industries, thus increasing the demand for nutmeg oil. Nutmeg oil consumption will continue rising, as they have proven to be beneficial in addressing skin diseases and acne. From 2016 to 2021, the market displayed a growth rate of 5.7%.
Nutmeg is mainly used as a spice or for extracting nutmeg oil. In addition to the kernel, mace can also be used to extract essential oils. In addition to nutmeg oil, there are many other essential oils that can be blended with it, including, mandarin, marjoram rosemary, lavender, cedar wood, clary sage, and sandalwood.
| Data Points | Key Statistics |
|---|---|
| Expected Base Year Value (2022) | USD 378.8 Million |
| Anticipated Forecast Value (2032) | USD 713.7348368 Million |
| Estimated Growth (2022 to 2032) | 6.5% CAGR |
Steam distillation is one of the most effective methods for extracting nutmeg essential oil from the seeds of the nutmeg fruit. A wide range of health benefits can be obtained from nutmeg oil when it is used as a spice in the right dosages. Traditional Ayurvedic treatments use nutmeg oil to treat a variety of ailments.
The global sales of nutmeg oil are anticipated to grow over the forecast period. Due to rapid urbanization and changing lifestyles, residents are more likely to rely on retail products such as hair care products to meet their grooming needs. Furthermore, companies are also focusing on offering new products at varying prices in the global nutmeg oil market, so as to provide ample opportunities to profit from the nutmeg oil market for all players operating in it.
A significant improvement in extraction methods has led to higher extraction yields, which have led to higher production levels in the market. Respiratory infections are treated with the decongestant and expectorant properties of nutmeg oil. It loosens the mucus and phlegm deposits and expels them out of the respiratory tract.
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Oils derived from nutmeg are widely used in aromatherapy, traditional medicine, and perfumes. In addition to its antioxidant properties, nutmeg also contains phenolic compounds that make it highly nutritious. The antioxidants in these foods are able to protect your cells from the damage that is caused by free radicals. Myristicin compounds, terpene hydrocarbons, phenylpropane, and terpene hydrocarbons in the oil can reduce inflammation compounds in your body.
It has been a common practice for nutmeg to be used as a component of traditional medicine as a result of the plethora of medicinal properties it possesses. In addition to treating menstrual cycles and female hormones, it aids in the treatment of lung disorders, as well as common colds. The effects of nutmeg oil on sexual performance are the same for men and women. In addition to preventing dark spots, nutmeg oil also improves the appearance of uneven skin tones. Nutmeg oil has attracted a lot of attention due to its health benefits, as a result of which there is a strong demand for this oil in the market.
Increasing disposal incomes and the growing popularity of essential oils in the cosmetic industry will drive the market demand for nutmeg oil in the future. Growing awareness about therapeutics among the younger generation and a growing number of personal care enterprises have led to a significant increase in the demand for this oil in the market.
Due to the fact that nutmeg is a hot oil, it can cause irritation to the skin if it oxidizes, and also if used in higher concentrations than usual. An overdose of nutmeg oil can lead to irregular heartbeat, nausea, dry mouth, hallucinations, and skin irritation.
Furthermore, pregnant women are recommended to avoid using nutmeg oil, as it triggers menstruation and can lead to miscarriage if used excessively. Women who are breastfeeding should also avoid using nutmeg oil since it can cause allergic reactions in newborns if consumed excessively. It is likely that all of these factors will hinder the market's growth in the coming years.
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Based on the analysis, Europe is expected to dominate the nutmeg oil market during the forecast period. According to estimates, the region will hold 39.9% of the global market share by 2022.
Europeans generally use nutmeg oil to preserve food as it has antibacterial, insecticidal, and fungicidal properties. European cultures often make use of the essential oil of nutmeg in the preparation of wine and are also known to use the oil as a fragrance for their environment.
European countries use nutmeg oil as an ingredient in cough syrup and toothpaste. These are the primary factors that contribute to the growth in nutmeg oil consumption in Europe.
Nutmeg oil is expected to continue to have a high demand in North America, based on the forecast, in the near future. The region is projected to hold 34.2% of the global market share in 2022. The USA is a major market for nutmeg oil worldwide. Nutmeg oil in the USA is expected to experience significant growth during the assessment period 2022 to 2032. A wide variety of soaps and cosmetics are filled with nutmeg oil in the United States.
The USA government has approved the use of nutmeg oil as a psychoactive medicine. A chemical substance such as this alters the nervous system, which leads to the emergence of consciousness in the body. Various medical forms of this substance have been used to improve mood and alter the consciousness of individuals. Therefore, it is widely used as a medicinal oil for the treatment of a variety of illnesses.
Further, this oil also serves as a tool that the narcotics control bureau of the United States uses on criminals in order to achieve the right information for further investigations. Moreover, the use of nutmeg oil as a flavoring ingredient in beverages, sweets, and baked goods has served as the driving force behind the growth of nutmeg oil in the Canadian market. As part of the active packaging technology used in Canada, nutmeg oil is added to packaging materials in order to enhance the long life of processed foods through the addition of antioxidants.
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Increased ability of nutmeg oil to treat thrombosis, inflammation, dysentery, rheumatism, and narcotic symptoms. Hence, pharmaceutics is a major user of this oil. In addition to this, nutmeg oil is thought to possess some antibacterial properties.
Chewable gel tablets infused with nutmeg essential oil microcapsules are becoming increasingly popular in the pharmaceutical industry. The release of volatile compounds from microcapsules is being investigated in the new research.
Gel tablets prepared with gelatin as a base and nutmeg essential oil as an active compound use natural ingredients such as thyme extract and thyme-sugar syrup for flavor and color. A new method is presented by researchers that combine microcapsules and nutmeg essential oil to make chewable gel tablets. Pharmacological applications of chewable gel tablets containing nutmeg essential oil microcapsules will be studied in the future.
Researchers are also creating chewable gel tablets flavored with natural materials, creating gel tablets with nutmeg essential oil microcapsules as the active ingredients, and testing in vitro to determine how many nutmeg essential oil compounds are in the gel tablet and how the tablet ingredients affect the texture of the tablet. These factors will further boost the pharmaceutical industry's demand for nutmeg oil in the market.
According to the forecast, the market for nutmeg oil in online retail shops will grow the most. Considering that the personal care and food industries are growing, many online retail stores will sell nutmeg oil as a result of the growing market for such products in the market.
As the cosmetic industry grows and awareness of essential oils increases, nutmeg oil is likely to experience a surge in online sales. As the awareness of the health benefits of nutmeg oil is increasing online, so is the demand for nutmeg oil on the internet. This combination of factors is expected to boost nutmeg oil's market share in the online retail channel.
In response to the burgeoning popularity of plant-based cosmetic products, many start-ups are bringing nutmeg oil to the forefront. In addition to offering organic nutmeg oil, these food and beverage start-ups offer a variety of production and distribution services. Since nutmeg oils are being used to treat numerous chronic diseases, most plant-based nutmeg oils are deployed across the food & beverage and pharmaceutical industries.
Key players in the global Nutmeg Oil market include Green Health, Sun Essential Oils, Pure Body Naturals, Healing Solutions, LorAnn Oils, Now, Plant Therapy, Guru Nanda, Artizen, Young Living, Kauveri Spices, Botanic Healthcare Private Limited, Aromaaz International, and many others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.5% from 2022 to 2032 |
| Market Value in 2022 | USD 378.8 Million |
| Market Value in 2032 | USD 713.7 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Application, Distribution Channel, Type, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | The USA, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Green Health; Sun Essential Oils; Pure Body Naturals; Healing Solutions; LorAnn Oils; Now, Plant Therapy; Guru Nanda; Artizen; Young Living |
| Customization | Available Upon Request |
FMI projects the global nutmeg oil market to expand at a 6.5% value CAGR by 2032
Europe is expected to be the most opportunistic nutmeg oil market, accumulating 39.9% revenue in 2022
Green Health, Sun Essential Oils, Pure Body Naturals, Healing Solutions, and LorAnn Oils are some of the prominent players in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2016 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Application 5.1. Pharmaceuticals 5.2. Cosmetics 5.3. Personal Care 5.4. Food Products 5.5. Chemical Industry 6. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Distribution Channel 6.1. Supermarket 6.2. Convenience Stores 6.3. Online Retail 6.4. Pharmaceutical Stores 7. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Type 7.1. Liquid 7.2. Capsules 8. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa (MEA) 9. North America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 13. MEA Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Green Health 16.2. Sun Essential Oils 16.3. Pure Body Naturals 16.4. Healing Solutions 16.5. LorAnn Oils 16.6. Plant Therapy 16.7. Guru Nanda 16.8. Artizen 16.9. Young Living 16.10. AOS Products Private Limited 17. Assumptions & Acronyms Used 18. Research Methodology
Food and Beverage
March 2024
REP-AP-893
324 pages
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Nutmeg Oil Market
