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Sesame oil market is projected to climb $8.2 bn by 2033
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Saturday, 29 April, 2023, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Worldwide consumption of sesame oil is estimated at $4.6 billion for 2023 and is expected to reach $8.2 billion by 2033-end. The global sesame oil market is projected to exhibit expansion at 5.9% CAGR from 2023 to 2033. Increasing health awareness among consumers and growing applications of sesame oil in the food and beverage industry are expected to drive the market over the forecast period.
Sesame oil is obtained from sesame seeds and is rich source of antioxidants, vitamins, and minerals. It is widely used as a cooking oil and in various food formulations, owing to its nutty flavor and aroma. Increasing consumption of sesame oil as a cooking oil in various cuisines of Asia Pacific countries, such as India, China, and Japan, is expected to propel the market over the forecast period.
Increasing health awareness and rising disposable income are some of the factors driving the demand for sesame oil across the globe. The market is expected to be driven by the growing applications of sesame oil in food and beverage industry. Moreover, the increasing demand for organic sesame oil is expected to provide numerous growth opportunities to the market.
Sesame oil is extracted from sesame seeds, which come from a plant species called Sesamum Indicum that has a long history of cultivation in India and certain African countries. Sesame oil has been used extensively in various cuisines around the world and has been the primary use for centuries.
Surging popularity of Korean and Chinese cuisines in Western countries owing to globalization is projected to influentially augment sesame oil consumption on a global level across the forecast period. Increasing awareness regarding the health benefits associated with pure sesame oil consumption is also anticipated to uplift shipments of sesame seed oil and other sesame ingredients over the next ten years.
Supportive government initiatives to help sesame seed farmers and increasing exports of sesame seeds around the world are also predicted to positively impact sesame oil demand in the future. Increasing consumer inclination towards natural and organic food products, surging use in cosmetic and personal care product manufacturing, and rising scope of sesame seed oil in nutraceutical applications are other aspects that could boost industry growth over the coming years.
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