Almond oil is considered as one of the best oils for hair and skin care remedies. It consists of Vitamin E, minerals, protein , and essential fatty acids (EFAs). It is particularly high in the monounsaturated fatty acid called oleic acid. Moreover, the nutrients and beneficial properties of almond oil makes it a useful cosmetic ingredient. In addition, almond oil being rich in vitamin E, makes it use favorable in skincare products. Other advantages offered by almond oil include skin rejuvenation such as increased levels of collagen production deriving from the fact that it can penetrate the skin more deeply. Furthermore, other medicinal properties of almond oil include relief to damaged skin occurring by sun exposure, and treatment of dry skin. Sweet almond oil is safe for digesting internally and thus considered as popular medical oil in the Unani System of Medicine.
The global almond oil market is witnessing rapid growth in recent years owing to increase in demand for personal care and medical industry. The suitability of almond oils for all skin types to soften, soothe, and re-condition the skin increases its utilization in aromatherapy. Moreover, surge in demand for aromatherapy along with increase in the number of spa customers drives the sales of various essential oils, including almond-based oils. Moreover, the advent of supermarkets as distribution channels to supply almond oil to consumers coupled with rise in global population has amplified the demand for these supermarkets, which, in turn, positively impacts the market growth. Surge in consumer demand for innovative food products, in regions such as Europe and North America creates new opportunities for almond oil products.
The report segments the market on the basis of type, application, distribution channel, and region. By Type, the market is segmented into sweet almond oil and bitter almond oil. On the basis of application, the market is classified as food preparation, cosmetic, pharmaceutical, and others. On the basis of distribution channel, the market is segmented as hypermarkets & supermarkets, food specialty stores, pharmacy, cosmetic discounters, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The outbreak of COVID-19 has negatively affected the manufacturing activities and disrupted the distribution network of the almond oil market globally. People were forced to stay in their homes to limit the spread of the disease. Government’s stringent rules regarding social distancing and complete lockdowns resulted in huge losses for vendors operating in the market. All the major key players and other sales channel were closed during the lockdown period. However, a V-shaped recovery is expected in the post-COVID-19 period.
The global almond oil market is witnessing rapid growth in recent years owing to increase in demand for personal care and medical industry. The suitability of almond oils for all skin types to soften, soothe, and re-condition the skin increases its utilization in aromatherapy. Moreover, surge in demand for aromatherapy along with increase in the number of spa customers drives the sales of various essential oils, including almond-based oils. Moreover, the advent of supermarkets as distribution channels to supply almond oil to consumers coupled with rise in global population has amplified the demand for these supermarkets, which, in turn, positively impacts the market growth. Surge in consumer demand for innovative food products, in regions such as Europe and North America creates new opportunities for almond oil products.
The report segments the market on the basis of type, application, distribution channel, and region. By Type, the market is segmented into sweet almond oil and bitter almond oil. On the basis of application, the market is classified as food preparation, cosmetic, pharmaceutical, and others. On the basis of distribution channel, the market is segmented as hypermarkets & supermarkets, food specialty stores, pharmacy, cosmetic discounters, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The outbreak of COVID-19 has negatively affected the manufacturing activities and disrupted the distribution network of the almond oil market globally. People were forced to stay in their homes to limit the spread of the disease. Government’s stringent rules regarding social distancing and complete lockdowns resulted in huge losses for vendors operating in the market. All the major key players and other sales channel were closed during the lockdown period. However, a V-shaped recovery is expected in the post-COVID-19 period.
KEY MARKET BENEFITS FOR STAKEHOLDERS
- The report provides extensive analysis of the current & emerging trends and opportunities in the almond oil market
- The report provides detailed qualitative and quantitative analyses of current trends and future estimations, which help to understand the prevailing market opportunities
- A comprehensive analysis of factors that drive and restrict the growth of the almond oil market is provided in the study
- An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework
- The report provides extensive qualitative insights on the potential & niche segments as well as countries exhibiting favorable growth
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Almond Oil Market, by Type
Chapter 5: Almond Oil Market, by Application
Chapter 6: Almond Oil Market, by Distribution Channel
Chapter 7: Almond Oil Market, by Region
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Almond Oil Market by Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022–2031,”The global almond oil market size was valued at $1,456.3 million in 2020, and is projected to reach $5,584.4 million by 2031, growing at a CAGR of 13.0% from 2022 to 2031. The sweet almond oil segment dominated the almond oil market in 2020, with more than half share, in terms of revenue.
Almond oil is extracted from kernels of Prunus Dulcis tree using cold-pressed method. Presence of various vitamins such as Vitamin E, B, and A; minerals; proteins; and omega fatty acids make this oil an all-purpose essential and carrier oil, which is utilized in food preparation, pharmaceutical and cosmetic industries. The demand for almond oil is increasing across the globe due to its health advantages and high nutritional value.
Rise in demand for aromatherapy products and growth in use of almond oil in cosmetic formulations due to increase in preference for natural ingredients are the primary factors that drive the almond oil market across the globe. Almond oil is widely utilized in the production of face creams, body lotions, hair oils, and various other cosmetic products for moisturizing and cleansing. Urbanization, increase in applications in pharmaceutical industry, and changes in lifestyle are other factors that supplement the market growth. However, high price of almond oil, especially bitter almond oil, as it is extracted from exotic species, hinder the almond oil market growth. Nevertheless, growth in demand for almond oil from emerging economies such as India and China and favorable government regulations, which encourage use of natural ingredients in cosmetic formulations provide great potential for market expansion.
On the basis of almond oil market analysis, the market is segmented based on type, application, distribution channel, and region. By type, the market is segmented into sweet almond oil and bitter almond oil. On the basis of application, the market is classified into food preparation, cosmetic, pharmaceutical, and others. On the basis of distribution channel, the market is segmented into hypermarkets & supermarkets, food specialty stores, pharmacy, cosmetic discounters, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Sweet almond oil accounted for more than half of the almond oil market, in terms of revenue, in 2020 as it is being widely utilized in pharmaceutical, skin care, and color-cosmetic industries, owing to its healthy moisturization properties and natural stability. It can be utilized as reepithelization agent, excipient, and sebum restoring agent in cosmetic industry. Sweet almond oil is rich in fatty acids, which favor restoration of skin lipid balance, and thus is utilized in various skin treatments.
Cosmetic segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 12.7% during the almond oil market forecast period. Use of almond oil is increasing in cosmetic formulations due to rise in preference of consumers toward organic and healthy ingredients. Favorable government regulations that encourage the use of natural ingredients in these formulations also assist in the growth of the cosmetic segment.
Cosmetic discounters segment is projected to dominate the market accounting for more than 35% share growing at significant CAGR of 12.2% from 2022 to 2031. Increase in availability of almond oil through hypermarkets & supermarkets, food specialty stores, pharmacy, and cosmetic discounters, coupled with advice by doctors to use almond oil for treatment of skin diseases such as psoriasis or acne is expected to boost the sales through these distribution channels.
North America and Asia-Pacific collectively contributed more than half of the share to the global almond oil market revenue in 2020. In the same year, Asia-Pacific was the fastest growing market owing to urbanization and growth in income of people.
The prominent market players are AOS Products Private Limited, Ashwin Fine Chemicals & Pharmaceuticals, Blue Diamond Growers, Inc., Caloy Quality Natural Oils, Eden Botanicals, Jiangxi Baicao Pharmaceutical Co., Ltd., Jiangxi Xuesong Natural Medicinal Oil Co., Ltd., Liberty Vegetable Oil Company, Mountain Ocean, NOW Foods, and Proteco Oils.
Key Findings Of The Study
- On the basis of type, the sweet almond oil segment dominated the almond oil industry in 2020, and is expected to retain its dominance throughout the forecast period
- By application, the cosmetic segment led the global almond oil market demand in 2020, and is expected to retain its dominance throughout the forecast period
- On the basis of on distribution channel, the cosmetic discounters segment dominated the global market in 2020, and is expected to retain its dominance throughout the forecast period
- Region-wise, North America accounted for highest almond oil market share in 2020, and is expected to grow at a CAGR of 125%
Companies Mentioned
- AOS Products Private Limited
- Ashwin Fine Chemicals & Pharmaceuticals
- Blue Diamond Growers, Inc.
- Caloy Quality Natural Oils
- Eden Botanicals
- Jiangxi Baicao Pharmaceutical Co., Ltd.
- Jiangxi Xuesong Natural Medicinal Oil Co., Ltd.
- Liberty Vegetable Oil Company
- Mountain Ocean
- NOW Foods
- Proteco Oils.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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