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Almond Oil Market Share, Growth, 2025 | Industry Analysis Report

Almond Oil Market Analysis Report By Product, By Application, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619786  |  Published: June 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Food & Beverage  |  Publisher: Grand View Research

Industry Insights

The global almond oil market size was accounted for USD 729.2 million in the year 2018. The market is expected to witness 12.2 % CAGR, during the forecast years, from 2019 to 2025. Rising demand for natural, organic, and herbal personal care beauty products among customers is expected to drive the market growth. In addition, increasing awareness related to the harmful effects of chemical cosmetics like phthalates and parabens is expected to boost the use of this product as a major ingredient in personal care beauty products.

In recent years, customers are getting more conscious about health and wellness, which is anticipated to drivethe demand for organic and natural products like clean labels, non-GMO, and plant-based components. Moreover rapidly changing lifestyle along with improvement in living standard is projected to open new avenues for market growth in economically developing countries. Stringent government rules and regulations such as a ban for chemical-based cosmetics coupled with support for the usage of natural and organic cosmetic products is anticipated to open new avenues for new players in the market.

U.S. almond oil market

Almond oil is a rich source of minerals, vitamin E, and omega fatty acids. It is also an excellent source of unsaturated fatty acid and phytosterols, thereby it has great moisturizing properties which are beneficial to use for aromatherapy.

 Manufacturers are coming up with new products to cater to rising demand for almond oil among consumers. For example, in 2015, a skincare brand Wikka introduced a wide range of products for the monsoon season. These products are enriched with extract of aloe Vera, almond, and avocado. These products are free from chemicals and widely used for aromatherapy.

Product Insights

On the basis of the product, the almond oil market is divided into sweet and bitter. Sweet oil accounted for the largest market share and projected to grow with a CAGR of more than 12.0% over the forecast period. Increasing the application of sweet almond oil in various industries such as cosmetics, pharmaceuticals, and personal care has driven the segment growth. This oil is the best source of vitamin E, phosphorus, copper, and magnesium. In addition, it has anti-inflammatory and antioxidant properties. It is used as a laxative and remedy for spleen, breast, uterus, bladder, and mouth cancers. It is majorly used in cosmetics products to cure chapped, dry and irritated skin.

On the other hand, the bitter oil held a significant share of more than 32.0%, in 2018. This oil contains toxic elements but it is refined to get rid of harmful contents before use. There are various health benefits of this almond oil; it treats spasms and pain, fungal infection, and helps to kill bacteria and intestinal worms. This product is also used as flavor edibles after the elimination of toxins.

Application Insights

Cosmetics and personal care applications dominated the global almond oil market and projected to grow with the fastest CAGR of more than 12.0% over the forecast period. This growth is attributed to increasing a wide range of applications in this industry. Government ban to use chemical-based cosmetics and increasing awareness of natural cosmetics is expected to further augment the growth of this segment. In 2014, according to theEuropean Commission amended Annex II of Cosmetics Regulation (EC) No. 1223/2009 has prohibited five types of parabensincludingpentylparaben, phenylparaben, benzylparaben, isopropylparaben, and isobutylparaben. This strict government rule is expected to open new avenues for the product development in this sector.

Global almond oil market

Increasing the shift towards a healthy lifestyle along with growing demand for health and nutritional food is encouraging the manufacturers to adopt strategies such as product innovation and development. For example, in 2019, Pip & Nut Ltd introduced almond butter under Cherry Bakewell brand name in U.K. This product contains almond oil and palm oil.

Regional Insights

Asia Pacific is projected to grow with the highest CAGR of more than 12.0% during the forecast period. The manufacturers are implementing several strategies such as product development and launch, promotional activities, and campaigns with the help of celebrities to increase product awareness among consumers. For example, in 2019, Indian company Bajaj Corp Ltd introduced new cooling oil under the hair care category with brand name Bajaj Cool Almond Drops Hair Oil’. This product is lighter and non-sticky than the original component. The camphor and menthol combination nourishes the hair and keeps the head cool. This product is projected to gain a strong foothold in the Indian market.

In 2018, Europe held the largest market share of 33.9% in terms of volume. In European countries including U.K., France, and Germany, the almond oil is gaining popularity due to its gluten-free quality. This product is used in breakfast cereal, snacks, and bakery. The food processing industry is expected to include this key ingredient in various food products due to its steady supply, appealing taste, and crunchiness. Furthermore, increasing awareness regarding several benefits of organic and natural products in the personal care segment is expected to open new avenues for regional growth in the next few years.

Almond Oil Market Share Insights

The market is highly competitive in nature due to the presence of a large number of international as well as domestic players. In order to tap the market, both small and well-established manufacturers are offering customized products along with the high nutritional value of oil. For example, in 2017, Global Ingredients Division launched 100% pure almond oil in the market. This product is used for personal care and cosmetics, as it helps to keep soft skin, healthier hair, and used in other luxurious products.

Major manufacturers are focusing on geographical expansion, especially in developing countries to gain maximum customer reach and technology penetration. Furthermore, establishment and investment in R&D centers, strategic partnership for new product launches play an important role to spur the market growth. In addition, manufacturers are also focusing on technology innovation to cater to the untapped market.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million, Volume in Kilo Tons & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America,  and Middle East & Africa

Country scope

U.S., U.K., Germany, France, China, Japan, India, Brazil

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global almond oil market report based onproduct, application, and region:

• Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 - 2025)
    • Sweet
    • Bitter

• Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 - 2025)
    • Personal Care and Cosmetics
    • Pharmaceuticals
    • Food Industry

• Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
        • France
    • Asia Pacific
        • China
        • India
        • Japan
    • Central & South America
        • Brazil
    • Middle East and Africa

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