Almond Oil Market to surpass USD 6331.62 million by 2031 from USD 1980.2 million in 2021 at a CAGR of 12.33% within the coming years, i.e., 2021-31.
Almond oil is considered tremendously widespread among the consumers due to its all-purpose properties as carrier oil. Almond Oil extracted from bitter or sweet almonds is a brilliant source of phytosterols and unsaturated fatty acids. It consists more of vitamin E as compared to other nut oils and possesses excellent moisturizing properties. Almond Oil is mainly high in monounsaturated fatty acid which is also called oleic acid. Almond Oil are useful in the treatment of skin diseases, treatment of diabetes, kidney problems, facial neuralgia, and others.
Almond Oil Market is predicted to project a notable CAGR of 12.33% in 2031.
The broad expansion, together with increased use of cosmetics, should enhance to the demand for Almond Oil Market. The rising demand for such a friendly and convenient product and rising consumption of cosmetic and Aromatherapy in emerging countries are making the growth during the timeframe.
Recent News and Developments:
Photoprotective measurement of almond Oil on UVB irradiated mouse’s skin is one of the current projects based on almond Oil’s UV rays’ protection capabilities.
Well, Earth Partnership by Frontier, is an initiative by Frontier, a major contributes to Almond Oil Market, based in India.
Almond Oil Market: Segments
Cosmetic segment to grow with the highest CAGR during 2021-2031
Almond Oil Market is segmented by product type into Food Preparation, Cosmetic, Pharmaceutical, and Others. The cosmetic segment is projected to lead the global market owing to the increasing demand among cosmetics producers for natural ingredients. These ingredients are used in face creams, night creams, body lotion, hair oil, and many other products for cleaning and moisturizing purposes. It has various uses as hair oil, facial oil, baby oil, massage, and also in aromatherapy. All these components lift the Cosmetic Segment globally.
Sweet Oil segment to grow with the highest CAGR during 2021-2031
Based on Product Type the market is categorized as Sweet Almond Oil and Bitter Almond Oil. Sweet Almond oil is the largest as well as fastest-growing product segment driven by increasing application cosmetics, personal care, and pharmaceutical sectors. These are rich in antioxidants, that boost immunity and acts as an anti-inflammatory, hence driving segment of Sweet Almond Oil growth. Sweet Almond Oil can also be used as a remedy for cancer-related to bladder, breast, uterus, and others. These components help the market to grow.
Almond Oil Market: Market Dynamics
Growing Demand for Aromatherapy
The rising demand for aromatherapy is a major driver for Almond Oil Market growth. Aromatherapy contains the usage of essential oils for a diversity of health conditions and becoming trendy among people especially spa customers. customers are attracted to the fragrance of Almond Oil, which leads it to raise the demand for Almond Oil. These factors are lifting the Almond Oil Market globally.
Increasing Demand Among Cosmetic Manufacturers
Chief driver prompting the increased demand for almond oil globally is its extensive usage in cosmetic products due to high requirements of natural components used in face creams, body lotion, hair creams, and many others for cleansing as well as moisturizing purpose. Attributed to widespread health benefits of almond oil, it has miscellaneous uses as a body oil, facial oil, and others. These days customers are more inclining towards natural ingredients and hence the market of Almond Oil Segment increases up.
High price of almonds that is raw material for production in one of the major components that hamper the market growth. Almond price has seen remarkable growth in the last 11-year period. The annualized volatility of almond spot prices is 13.24% over the past three years. High price of Almond affects the Almond Oil Market.
Impact of the COVID-19 on the Almond Oil Market
The world market for Almond Oil Market has been severely affected by the outbreak of the COVID19 pandemic. The suspension of industrial activity affected the Almond Oil Market due to weak consumer confidence, store closures, and depletion of consumer incomes. Global GDP has changed consumer behavior and reduced demand for Sports Equipment. To curb the spread of the coronavirus, the governments of several countries have imposed travel restrictions that severely affect the supply of raw materials for coffee makers. Situation will be in control after the pandemic.
Almond Oil Market: Key Players
Caloy Quality Natural Oils
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Ashwin Fine Chemical & Pharmaceuticals
Shanghai Saifu Chemical Development Co. Ltd
Jiangxi Xuesong Natural Medicinal Oil Co. LTD
Blue Diamond Growers Inc
Other prominent players
Almond Oil Market: Regions
Almond Oil Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Asia Pacific is estimated to contribute the largest share of the Almond Oil Market during the forecast period. Rise in health concerns of consumers in the emerging countries including India and China is estimated to fuel the Asia-Pacific Almond Oil Market.
Almond Oil Market is further segmented by region into:
North America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-United States and Canada
Latin America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR- United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Almond Oil Market report also contains analysis on:
Almond Oil Market Segments:
By Product Type
Sweet Almond Oil
Bitter Almond Oil
Food Specialty Store
Almond Oil Market Dynamics
Almond Oil Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value chain of the Market
Market Drivers and Restraints
Almond Oil Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 1980.2 million
Revenue forecast in 2031 USD 6331.62 million
Growth Rate CAGR of 12.33% from 2021 to 2031
Base year for estimation 2021
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Product Type, Distribution, Application, and Region
Region scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Ashwin Fine Chemical & Pharmaceuticals, Now Foods, Eden Botanicals, Shanghai Saifu Chemical Development Co. Ltd, BASF, Mountain Ocean, Jiangxi Xuesong Natural Medicinal Oil Co. LTD, Proteco Oils, Blue Diamond Growers Inc
Frequently Asked Questions on the Almond Oil Market
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