Global Sesame Oil Market: Rising Incomes in Asia To Promote Market Expansion

IndexBox has just published a new report "World - Sesame Oil - Market Analysis, Forecast, Size, Trends and Insights". Here is a summary of the report's key findings.

The global sesame oil market revenue amounted to $6.9B in 2017 (IndexBox estimate), flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, sesame oil consumption continues to indicate a strong increase. The growth pace was the most rapid in 2011, when the market value increased by 23% against the previous year. Global sesame oil consumption peaked of $7.2B in 2014; however, from 2015 to 2017, it fluctuated at lower levels.

Sesame oil is made from sesame (Sesamum indicum), an annual herb from the Pedaliaceae family. Sesame oil contains high levels of natural antioxidants called sesamol, sesamolin and sesamin oils. Sesamin is a lignin with anti-inflammatory properties, and contains vitamin E, which helps keep skin strong and supple. Meanwhile, sesamol has more than two dozen useful pharmacologically active properties, most of which work to improve cardiovascular health. Sesame oil is commonly used for cooking in Southeast Asian cuisines and it is also used as gourmet oil in salad dressings, for example. In addition, it is also used in cosmetics and in other health and wellness products. Its popularity is growing in Europe, where it is marketed as high-quality oil.

In 2017, approx. 1.6M tonnes of sesame oil were consumed worldwide; dropping by -2.3% against the previous year. Overall, the total consumption indicated a notable growth from 2007 to 2017: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the sesame oil consumption decreased by -6.8% against 2015 indices. The most prominent rate of growth was recorded in 2014, with an increase of 14% against the previous year. Global sesame oil consumption peaked of 1.7M tonnes in 2015; however, from 2016 to 2017, it failed to regain its momentum. This decline was caused by weakened consumption in Asia ans Africa over the last two years on the backdrop of a slowdown in the economy and income growth.

Countries of South-Eastern Asia and Africa Constitute The Largest Sesame Oil Consumers Worldwide

The countries with the highest volumes of sesame oil consumption in 2017 were Tanzania (362K tonnes), Myanmar (333K tonnes), and China (249K tonnes), with a combined 58% share of global consumption. Mozambique, India, Sudan, Japan, South Korea, and Turkey lagged somewhat behind, together accounting for a further 25%.

From 2007 to 2017, the most notable rate of growth in terms of sesame oil consumption, amongst the main consuming countries, was attained by Mozambique (+42.8% per year), while the other global leaders experienced more modest paces of growth.

Global Sesame Oil Consumption Is Expected To Soften Its Growth

Consumer taste preferences, dietary habits and knowledge of properties and mode of use of sesame oil determine its choice between the other edible oil alternatives. Worldwide, the rates of growth in terms of sesame oil consumption and market trends vary significantly. Thus, in the U.S. and Europe, the current trend towards heathy eating and lifestyle, along with increasing incomes in developed countries promotes high-quality oil for cooking and for other food applications, shall buoy the market growth.

The expected positive global trend movement is also buoyed by the fact that the global population is increasing; rising household income figures and, as a result, affluence, particularly in countries such as China, Korea, Malaysia, is set to translate into the increased consumption of more manufactured goods containing sesame oil.

On the other hand, the growth of consumption has also softened over the last three years on the backdrop of a slowdown in the global economy. However, the above mentioned fundamental trends remain positive in terms of the market outlook, thereby buoying the market growth in the medium term.

As projected by IndexBox, the market is expected to start an upward consumption trend over the next decade, driven by increasing demand for sesame oil worldwide. However, market perfomance is forecast to decelerate against the previous decade, expanding with an anticipated CAGR of +2.2% for the period from 2017 to 2025, which is projected to bring the market volume to 1.9M tonnes by the end of 2025.

Do you want to know more about global sesame oil market? Get the latest trends and insight from our report. It includes a wide range of statistics on:

• sesame oil market share
• sesame oil prices
• sesame oil industry
• sesame oil sales
• sesame oil import
• sesame oil export
• sesame oil market forecast
• sesame oil price forecast
• key sesame oil producers

All data provided in this article covers the following product: HS 151550 - Sesame Oil.

Source: IndexBox AI Platform