Increasing pollution, changing food habits, and busy lifestyles are leading to rising stress levels and anxiety, besides other health concerns. These issues are further resulting in conditions such as wrinkles, pimples, and heavy hair loss. Thus, people are becoming more concerned about appearance and beauty, and are using beauty and cosmetic products for the prevention of skin or hair diseases. Nutmeg butter is a natural and sustainable alternative ingredient in beauty and cosmetic products. These factors are expected to fuel demand for nutmeg ingredients and nutmeg butter products in the near future. The global nutmeg butter market has witnessed significant growth in the past few years, and this trend is anticipated to continue through the course of the forecast period (2020 to 2030). The global nutmeg butter market is estimated to rise at a steady value CAGR of nearly 6% through 2030.
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Key Takeaways from Nutmeg Butter Market Study
- By nature, the organic segment is projected to register the highest volume growth rate over the forecast period in the global nutmeg butter market, owing to rising awareness about health and healthy ingredients and increasing demand for natural and organic ingredients and products.
- By application, the skin care segment is expected to hold the highest market value share of 88.7% in the year 2020. Increasing beauty concerns and men’s grooming are key factors behind rising sales of skin care products.
- By distribution channel, the business to business segment holds the highest value share in the global nutmeg butter market, owing to rising popularity of nutmeg butter in cosmetic and personal care products.
- By region, Europe holds the highest value and volume share, followed by North America, in the global nutmeg butter market. This is attributable to increased awareness regarding protection of health, enhancing well-being, and boosting self-esteem.
- The impact of COVID-19 on various end-use industries of nutmeg butter is expected to affect the growth of the nutmeg butter market in the near term.
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Nutmeg Butter Market: Competitive Landscape
As consumer demand for multifunctional products is increasing, manufacturers of cosmetic and personal care products are seeking multifunctional ingredients that can be used for different purposes. Nutmeg butter can be used in different products such as body massage products, hair masks, creams, lotions, soaps, pomades, after-sun creams and lotions, sun protection products, hair conditioners, and others.
Manufacturers operating in the nutmeg butter landscape, such as New Directions Aromatics Inc., Proderna Biotech Pvt. Ltd., and others are focusing on offering products that are in line with market trends and comply with different international certifications and standards.
- Proderna Biotech Pvt. Ltd. is organic certified – NPOP, NOP including EU. Its manufacturing unit is ISO 22000:2005 (HACCP), FSSC:22000, Halal, and Kosher certified.
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