Tomato Seed Oil Market Size, Share & Industry Report | 2031

Report Description

The global tomato seed oil market size was valued at USD 52.9 Million in 2022 and is likely to reach USD 106.5 Million by 2031, expanding at a CAGR of 7.4% during the forecast period, 2023–2031. Increasing demand for anti-wrinkle serums, anti-aging creams, personal care & cosmetic goods is expected to drive the market during the forecast period.

Essential oils and carrier oils have applications in aromatherapy. Thus, rising popularity of aromatherapy is expected to create growth opportunities in the market. Moreover, the demand for tomato seed oil is high among manufactures of personal care products and treatments, which is a crucial driver of the market. Cold press tomato seed oil is used in skincare products, as it smoothens out deep wrinkles and age spots.
 

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This oil helps cure several skin illnesses, colds, coughs, anxiety, gastrointestinal issues, and offers pain relief. Moreover, tomato seed oil consists of lycopene, which is a potent antioxidant. This antioxidant is effective in non-communicable chronic diseases including metabolic syndrome, infertility, cancer, liver damage, and nervous system degeneration. Thus, the growing awareness about the benefits of this oil is boosting its demand in the healthcare sector.

Tomato seed oil increases the absorption and overall functionality of essential oils; thus, it is used to dilute concentrated essential oils. It is considered a holistic and safe alternative for allopathic skin care products. Growing demand for the of use skin-friendly and non-chemical ingredients in cosmetic and personal care products, is likely to further drive the market in the coming years.

Tomato seed oil consists of 13.60% fiber, 0.56% lecithin, 24.40% fat, 27.62% protein, 40.20% of ash, 8.95% moisture, and N-free extracts up to 21%. Furthermore, tomato weighs around 60 grams to 450 grams, and its seeds per 1g weights from 0.97 to 1.43g. These seeds can be easily sourced and are cost-effective, which makes them budget-friendly for manufacturers in the personal care industry.

The research report finds that the COVID-19 pandemic fueled the tomato seed oil market, due to the rising demand for skin-friendly products and increasing awareness about regular skin care. People became more conscious about their skin and health during the pandemic.

Additionally, the rising demand for organic ingredients in skin care products and cosmetics surged the sale of this oil. However, manufacturers of cosmetic products faced numerous challenges including shortage of raw materials, unstable buying patterns, and employee safety, due to the outbreak of coronavirus. 

Tomato Seed Oil Market Dynamics

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Major Drivers

The sale of organic tomato seed oil is increasing thus fueling the market during the forecast period. The demand for organic products is high among cosmetics and food industries, as they have substantial health benefits and nutrition profile. Thus, consumers prefer products that are organic, meaning not cultivated using pesticides or chemicals.

To leverage this opportunity, key players are funding clean-label to offer products such as organic tomato seed oil. Increasing demand for organic products is anticipated to fuel the market during the forecast period.

• In May 2022, as per a survey conducted by the Organic Trade Association, organic food sales in the US reached around USD 61.7 billion from USD 60 billion. Furthermore, the total food sales were reported at USD 67.6 billion in the same year. Thus, the high demand for organic food is expected to propel the market in the coming years.

Existing Restraints

Lack of awareness regarding organic tomato seed oil is expected to hinder the market in the coming years. Limited shelf life of this oil is projected to impede the market in the coming years. This oil needs to be stored properly in glass bottles and kept in cool and dark places else, it goes rancid.

Emerging Opportunities

Rising preference for natural cosmetics among individuals is anticipated to create lucrative opportunities for market players. Organic and biodegradable ingredients are found in natural cosmetics, which assure consumers about the origin, authenticity, and quality of these products. A natural cosmetic contains 95% natural or organic raw materials and 5% synthetic.

Scope of Tomato Seed Oil Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Tomato Seed Oil Market Segment Insights

Nature Segment Analysis

On the basis of nature, the tomato seed oil market is segmented into conventional and organic. The organic segment is projected to expand at a considerable CAGR during the forecast period, due to rising demand for organic food products that are free from chemicals and pesticides.  

Organic products are gaining popularity in the food and cosmetics industries, as they are nutrition-rich and have various health benefits. Increasing awareness among consumers about using skin care products made with organic ingredients is estimated to fuel the segment. While buying a product, consumers seek clean labels and transparency in the ingredients list, which fuel the demand for products with organic tomato oil.

The conventional segment is anticipated to account for a considerable share of the market. Numerous manufacturers use regular tomato seed oil, despite knowing the benefits of organic food products. However, they are investing in both organic and conventional products to meet the demand for both these items.

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Form Segment Analysis

In terms of form, the market is bifurcated into refined and unrefined. The unrefined segment is expected to hold a significant share of the market in the coming years, due to the increasing demand for natural and improved oil. An unrefined form of tomato seed oil has a long shelf life. It has a rich flavor, aroma, and less chemicals thus, it is preferred over its refined counterpart.

The refined segment is anticipated to account for a substantial share of the market during the forecast period, owing to the rising product demand from the personal care industry. The demand for cold press and refined tomato seed oil is high in the cosmetic industry, due to their moisturizing property. Furthermore, it helps improve skin tone and smoothen wrinkles, stretch marks, rashes, dry skin, and chapped lips.

Packaging Segment Analysis

On the basis of packaging, the market is segregated into bottles, jerry can, and pouches. The bottles segment is anticipated to expand at a substantial CAGR during the forecast period, as this packaging improves the product’s shelf life and protects the contents from spilling and the external environment.

The pouches segment is expected to hold a sizable market share, as they require less space due to their shape and flexibility. Pouch can be easily filled with oil that keeps the total weight of goods down, which is less frustrating for customers. The pouches protect the oil from light, heat, and moisture that affects the oil.

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Distribution Channel Segment Analysis

Based on distribution channel, the tomato seed oil market is bifurcated into direct sales and indirect sales. The indirect sales segment is projected to register a considerable share of the market in the coming years. Indirect sales include various distribution channels such as health & wellness stores, online retailers, grocery retailers, hypermarket/supermarket, and convenience store wholesalers.

Several companies are paring direct and indirect sales to increase the profit rather than hiring more sales personnel. The direct sales segment is expected to expand at a substantial CAGR in the coming years, as it is an efficient way for consumers to buy and receive goods directly from product manufacturers. Moreover, it offers opportunities to small businesses and sellers to build strong customer relationships.

End-user Segment Analysis

On the basis of end-user, the market is segregated into cosmetic, animal feed, dietary supplements, food service, and pharmaceutical. The cosmetic segment is anticipated to hold a significant share of the market during the forecast period, due to the growing cosmetic industry and rising application of this oil application in several cosmetic products.

It is used for skin care products for age spots, sun damage, and skin-brightening. This oil has a non-greasy texture thus, it is an ideal ingredient for skin care products. Furthermore, increasing demand for organic personal care and skin care products is likely to boost the market in the coming years. For instance,

• In 2022, the cosmetic industry grew by over 15%, if compared to the previous year. Furthermore, skincare products account for 41% share of the global market, haircare products made up 22%, while make-up products held 16% share of the total market.

The pharmaceutical segment is expected to account for a considerable share of the market, owing to the vast usage of tomato seed oil in the pharmaceutical industry and high investment in innovations and technological advancements within the segment. This oil has several medicinal advantages thus, it is used in various food and pharmaceutical products.

Regional Analysis

In terms of region, the global tomato seed oil market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the forecast period, due to rising product demand from various industries in the region.

In emerging economies, such as India and China, people are inclined toward anti-aging creams and skin treatments, as the oil has application in skin treatments and it minimizes the appearance of wrinkles and other age indicators.

The market in North America is anticipated to expand at a rapid pace during the forecast period, due to the increasing trend of veganism and growing adoption of organic products in the region. Tomato seed oil is a vitamin-rich and nutrient source; therefore, it can be used in food preparations to encourage healthy eating. Moreover, increasing adoption of personal care products and rising aging population in countries including US and Canada are expected to fuel the market in the region.
 

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