Nutmeg Butter Market by Nature (Organic and Conventional), The Organic Segment is projected to register the highest volume growth rate in the forecast period.
Industry: Food and Beverages
Published Date: February-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP32162
The market for nutmeg butter can be expected to expand at a value based CAGR of 5.60% and show an increase in revenue from US$ 33.41 Million to around US$ 57.61 Million by 2033.
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Nutmeg Butter Market Size (2023E) |
US$ 33.41 Million |
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Projected Sales of Nutmeg Butter (2033F) |
US$ 57.61 Million |
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Value CAGR (2023 to 2033) |
5.60% |
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Value Share of Top 4 Countries (2022E) |
55% |
The global nutmeg butter market has witnessed significant growth in the historical period registering a CAGR of 4.34% in the historical period and was valued at US$ 33.41 Million in 2023.
The manufacturers as well as the consumers are seeking new, natural, healthy, nutritional ingredients that can help in maintaining health and wellness. Owing to the high nutritional content of nutmeg, nutmeg butter is gaining popularity among consumers across the globe and its volume is expected to witness over 1.6x growth during the forecasted period.
The global market for nutmeg butter is estimated to reach an approximate valuation of US$ 57.61 Million in the forecast period.
“Rising Demand for Gender-neutral Products to Fuel demand for Nutmeg Butter”
The key manufacturers of cosmetic and personal care products are focusing on increasing the number of gender-neutral products in terms of making it easy for consumers to purchase the products. Gender-neutral products can be used by both male and female consumers for the treatment of similar issues. This marketing method is fuelling the growth of the beauty and cosmetics industry. Nutmeg butter is ideal for the treatment of wrinkles, hair care, and for use in personal care products such as soap, shampoo, body care, scrubs, etc. for both genders. This is expected to drive the demand for nutmeg butter products.
“The emergence of Preventive Nutri-cosmetic Products to Stimulate Demand for Nutmeg butter”
Nutmeg and nutmeg butter has several health benefits, including the ability to relieve pain, strengthen cognitive function, soothe indigestion, detoxify the body, reduce insomnia, and many others. Nutmeg butter contains significant amounts of vitamins and minerals and thus is considered a nutrient-rich product. With the increasing health-consciousness among consumers and rising knowledge about various ingredients and products, consumer demand for nutri-cosmetic products is increasing rapidly across the globe. Nutri-cosmetics have become a way to take care of one's skin deeply and holistically. Thus, these factors are expected to fuel the growth of the global nutmeg butter market.
“Larger Online Penetration in Emerging Markets”
Online retail is a trending retail segment across the world and especially in emerging markets. It is becoming more convenient for the consumer, as the products can be ordered from the home, workplace, or any other place. The big players in the online retail sector are offering huge discounts on the products, which attract consumers towards online retail. The consumers in emerging markets are widely inclining towards online shopping due to discounts and doorstep deliveries.
The increasing digitalization and rising spending power of the consumers are other factors that are driving the growth of the online retail market. Nutmeg butter is widely sold through the online retail chain which is expected to leave a positive impact on the global nutmeg butter market with expected value growth of 2.1x during the forecasted period.
“Lack of Consumer Awareness about Nutmeg Butter”
Nutmeg butter’s penetration in the global personal care and cosmetic industry is comparatively lower than any other product. The limited production of nutmeg and low penetration of nutmeg products and ingredients is the key barrier in the growth of the global nutmeg butter market. Countries such as Indonesia, Grenada, India, and Sri Lanka account for more than 90% of the nutmeg produced around the world, while the remaining countries are importing nutmeg. Thus, the manufacturers of nutmeg ingredients and nutmeg butter need to focus on the promotion and increasing the penetration of the products to reach the maximum number of consumers across the world.
What does the South Asian nutmeg butter market look like?
Asia Pacific is one of the fastest-growing regions in the world based on both population and economy. It holds around 40% of the world’s population and has the largest consumer base for food and beverages as well as personal care products. Consumers in the region are becoming health-conscious and focus on health and wellness is increasing rapidly.
The increasing per capita income and rising spending power of consumers are key factors in the growth of the global nutmeg butter and oil market. Besides, Asia Pacific is witnessing an increase in the number of personal care and cosmetic manufacturers, which is expected to drive the demand for nutmeg ingredients and nutmeg butter products. As such, South Asia is expected to witness 7.5% value growth during the forecasted period.
What is the Outlook for the European Nutmeg Butter Market?
The European market is among the top consumers of nutmeg butter and is valued at US$ 9.87 Million in 2023 and the value share is expected to rise significantly to reach US$ 16.38 Million by 2033. Based on the application, the market is dominated by the utilization of nutmeg butter in the skincare industry holding an approximate value of US$ 3,988.9 Million in 2022.
Elaborate the Segmental Breakdown for the Global Nutmeg Butter Market?
By nature, the organic segment is projected to register the highest volume growth rate in the forecast period for the global nutmeg butter market, owing to awareness about health and healthy ingredients and the demand for natural and organic ingredients and products is increasing across the globe.
By application, the skin care segment is expected to hold the highest market value share of 88.7% in the year 2022 in the global nutmeg butter market. The increasing beauty concerns and men’s grooming is the key factor behind increased sales of skin care products.
By distribution channel, business to business segment holds the highest value share in the global nutmeg butter market, owing to the rising popularity of the nutmeg butter in cosmetic and personal care products.
Why is the cosmetics sector expected to show prominent growth in the forecast period?
Nutmeg has high nutrient content of vitamins, minerals, and organic compounds related to essential oils. The beneficial components of nutmeg and nutmeg butter include dietary fiber, manganese, thiamine, vitamin B6, folate, magnesium, and copper, along with benefits such as relieving pain, promoting digestion, improving brain health, detoxifying the body, oral health, treating insomnia and leukaemia, correcting hormonal imbalances, skincare, and regulating blood pressure.
As consumer demand for multifunctional products is increasing, manufacturers of cosmetic and personal care products are seeking multifunctional ingredients which can be used for different purposes. Nutmeg butter can be used in different products such as body massage, 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 like New Directions Aromatics Inc., Proderna Biotech Pvt. Ltd., and others are focusing on offering products that are in line with the market trends and comply with different international certifications and standards for manufacturing and processing the product.
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Details |
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Forecast period |
2023 to 2033 |
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Historical data available for |
2018 to 2022 |
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Market analysis |
USD million for value |
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Key regions covered |
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Key countries covered |
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Key market segments covered |
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Key companies profiled |
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Report coverage |
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Customization & pricing |
Available upon request |
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The global market for nutmeg butter has a value of US$ 33.41 Mn in 2023.
The global market for nutmeg butter has a value CAGR of 4.34% from 2018-2022.
The global market for nutmeg butter has a value of US$ 57.61 Mn in 2033.
The global market for nutmeg butter has a value CAGR of 5.60% from 2023-2033.
The top players in nutmeg butter market include Organic Pure Oil, Proderna Biotech Pvt. Ltd., Nature Pure Extracts Inc., Botanic Universe Corp., Delaenzie Essentials Oils.
