Global Almond Oil Market Size To Worth USD 4.33 Billion By 2033 | CAGR Of 12.03%
Category: Consumer GoodsGlobal Almond Oil Market Size To Worth USD 4.33 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Almond Oil Market Size is Expected to Grow from USD 1.39 Billion in 2023 to USD 4.33 Billion by 2033, at a CAGR of 12.03% during the forecast period 2023-2033.
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Browse key industry insights spread across 220 pages with 120 Market data tables and figures & charts from the report on the "Global Almond Oil Market Size, Share, and COVID-19 Impact Analysis, By Application (Personal Care & Cosmetics, Pharmaceuticals, and Food Industry), By Product (Sweet Oil And Bitter Oil), By Distribution Channel (Hypermarkets & Supermarkets, Food Specialty Stores, Pharmacy, Cosmetic Discounters, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/almond-oil-market
Almond oil is extracted from almonds and contains protein, healthy fats, magnesium, and vitamin E. The growing trend of consumer preference for natural and organic-based skincare and cooking products is also highly consistent with organic sources of vitamins and proteins with nourishing qualities. Brand name, nutritional value, product safety, and awareness of the benefits of almond oil through various forms of media such as electronic and print are some factors that influence consumers' purchasing decisions. Several mergers and acquisitions, partnerships, and collaborations in the almond oil market, along with relatively high investment in the food industry, have led to steady growth for the almond oil market. Almond oil is being used in more cosmetic and personal care formulations as the market share of natural cosmetics has grown. This change reflects a broader consumer trend toward environmental responsibility and sustainability. However, the price of processing almond oil has been one of the factors impeding the market for it. Because almond oil is typically more expensive than other edible oils, people are resisting to purchase it. Compared to developed regions, low-income areas are more likely to demonstrate this.
The personal care & cosmetics segment is predicted to hold the greatest market share through the forecast period.
Based on the application, the almond oil market is classified into personal care & cosmetics, pharmaceuticals, and food industry. Among these, the personal care & cosmetics segment is predicted to hold the greatest market share through the forecast period. There is a fast-growing demand for natural and organic personal care and cosmetic products. Because almond oil is an extract that occurs naturally, suitable for it. Consumers increasingly opt to stay away from synthetic chemicals due to their association with skin sensitivities and long-term side effects.
The sweet oil segment is predicted to hold the greatest market share through the forecast period.
Based on the product, the almond oil market is classified into sweet oil and bitter oil. Among these, the sweet oil segment is predicted to hold the greatest market share through the forecast period. Rise in demand by new markets, sustainability trends, and growth of e-commerce platforms that make it easier to access these products. With health consciousness and awareness of ingredients reaching their products, natural alternatives over synthetic ones have been adopted by the population.
The cosmetic discounters segment is anticipated to hold the greatest market share during the projected timeframe.
Based on the distribution channel, the almond oil market is divided into hypermarkets & supermarkets, food specialty stores, pharmacy, cosmetic discounters, and others. Among these, the cosmetic discounters segment is anticipated to hold the greatest market share during the projected timeframe. Supermarkets and hypermarkets are growing their product lines to match these trends and setting aside specific aisles for specialized and organic almond oils to satisfy changing customer demands.
Europe is estimated to hold the largest share of the almond oil market over the forecast period.
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Europe is estimated to hold the largest share of the almond oil market over the forecast period. Almond oil is a leading ingredient in skincare and haircare products as it contains properties of moisturizing, anti-inflammatory, and antioxidant. Almond oil finds application in creams, lotions, face oils, hair masks, and bath products, thereby driving the demand for almond oil in cosmetic manufacturing in Europe region.
Asia Pacific is predicted to have the highest CAGR growth in the almond oil market over the forecast period. Rising urbanization and availability of almond oil in stores and specialty stores have fuelled demand for almond oil in the region. The growth in disposable income in developing nations like India and China is enabling consumers to purchase high-value products.
Major key players in the almond oil market include Caloy Company, LP, Blue Diamond Growers., Jiangxi Baicao Pharmaceutical Co.Ltd, Bajaj Consumer Care Ltd., Dabur, Frontier Co-op., Eden Botanicals, Ashwin fine Chemicals & Pharmaceuticals, TSBE, Indian Natural Oils, and Others.
Recent Developments
- In February 2023, SunnyGem Launched New Almond Oil at Publix Stores Nationwide SunnyGem, a leading supplier of California almonds, announces the launch of SunnyGem Almond Oil, the company’s first specialty product available for consumers at retail.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the almond oil market based on the below-mentioned segments:
Global Almond Oil Market, By Application
- Personal Care & Cosmetics
- Pharmaceuticals
- Food Industry
Global Almond Oil Market, By Product
- Sweet Oil
- Bitter Oil
Global Almond Oil Market, By Distribution Channel
- Supermarket & Hypermarket
- Food Specialty Stores
- Pharmacy
- Cosmetic Discounters
- Others
Global Almond Oil Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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