Onion Oil Market

The global onion oil market size was valued at $40.2 million in 2020, and is projected to reach $112.6 million by 2030, registering a CAGR of 10.9% from 2021 to 2030.

Onion oil is a type of hair oil that is used to treat hair rejuvenation, increase blood circulation, control hair falls, and aid in maintaining overall health of hair follicles, control hair breakage, promote hair growth, and cure baldness. Growing hair related issues among consumers, rising number of geriatric population, and increasing awareness regarding the effectiveness of using onion oil for hair have driven the growth of the onion oil market demand. The use of onion oil has been readily adopted recently, owing to its benefits to hair and easy availability through various retail stores such as specialty store, supermarket, pharmacy, online stores, and others. Furthermore, rising inclination of males toward hair care products, including hair oil to enhance their physical appearance is also expected to offer immense opportunity for the growth of the onion oil market in terms of value sales.

COVID-19 Impact Analysis

• The outbreak of the COVID-19 pandemic witnessed a negative impact on the onion oil market. 
• The COVID-19 pandemic not only hampered production facilities but also disrupted supply chains, such as material suppliers and distributors of the onion oil market globally, resulting in loss of business in terms of value sales.
• Trade restrictions imposed by several countries across the globe to curb the outbreak of COVID-19 has significantly affected global logistics and transportation, which negatively affected the onion oil market.

The global onion oil market is segmented into nature, end user, distribution channel, and region. By nature, it is classified into conventional and organic. By end user, it is divided into men and women. On the basis of distribution channel, it is segregated into specialty store, supermarket/hypermarket, online store, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and the rest of Europe), Asia-Pacific (China, India, Australia & New Zealand, Japan, South Korea, ASEAN, and the rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Argentina, and the rest of LAMEA).

By nature, the conventional segment accounted for the highest market share in 2020 and is expected to remain its dominance during the forecast period. This is due to easy availability of onion oil in the market through various sales channels, including supermarket, specialty stores, convenience stores, and online stores. However, the organic segment is projected to grow at a notable rate during the forecast period.

By end user, the market is divided into men and women. In 2020, the women segment accounted for the highest market share in the global onion oil market. This is attributed to the fact that onion oil among women is becoming very popular for hair regrowth, resolving scalp issues, and other hair problem. Onion oil contains sulfur that stimulates the collagen production of the user’s scalp, which is essential to control hair loss. Thus, onion oil has become a new trend for solving hair loss issue and regrowth of hair.

As per distribution channel, the supermarket/hypermarket segment registered the highest onion oil market share in 2020. Hypermarket/supermarket is gaining high popularity, owing to availability of a broad range of consumer goods under a single roof, ample parking space, and convenient operation timings. Moreover, increase in urbanization, rise in working class population, and competitive pricing boost the popularity of supermarket/hypermarkets in developed and developing countries. Furthermore, these stores offer a variety of brands in a hair care product category, including hair oil, thus offering more options for customers to buy onion oil as per their choice of brands, types, price range, and others. However, the online segment is expected to witness significant growth during the onion oil market forecast period.

Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the highest market share in 2020. Rise in number of beauty conscious male consumers in India, China, and Australia has driven sales of onion oil ultimately driving the growth of the overall market. However, Europe is expected to be the fastest growing region during the forecast period.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the current onion oil market trends, estimations, and dynamics of the market for the period 2020–2030 to identify prevailing market opportunities.
• The key countries in four major regions have been mapped based on their market share.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis of the market segmentation assists to determine prevailing onion oil market opportunity.
• Major countries in each region have been mapped according to their revenue contribution to the global industry. 
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
• The report includes regional as well as global onion oil market analysis, key players, market segments, nature areas, and onion oil market growth strategies.

 Onion Oil Market Report Highlights