Global Almond Oil Market Insights Forecasts to 2033

• The Global Almond Oil Market Size was Valued at USD 1.39 Billion in 2023
• The Market Size is Growing at a CAGR of 12.03% from 2023 to 2033
• The Worldwide Almond Oil Market Size is Expected to Reach USD 4.33 Billion by 2033
• Asia Pacific is Expected to Grow at the fastest CAGR during the forecast period

The Global Almond Oil Market Size is Anticipated to Exceed USD 4.33 Billion by 2033, Growing at a CAGR of 12.03% from 2023 to 2033.  

Market Overview

Almond oil is an edible oil obtained from almonds with its vitamin E, magnesium, proteins, and good fats. Organic sources of vitamins and proteins with nourishing properties are also highly consistent with the growing trend of consumer preference toward natural and organic-based skincare and cooking products. Modern lifestyle results in rising stress, pollution levels, irregular eating habits, and the using products that contain harmful chemicals. They cause many skin and hair-related problems among individuals, who then start searching for natural healing products that suit them. Among such rich and versatile oils with high nutritional and curative values, almond oil has emerged as the most desired product. For instance, increasing the natural cosmetics market share has increased the use of almond oil in various cosmetic and personal care formulations. This shift represents a larger movement toward sustainability and environmental responsibility on the part of the consumer.

Report Coverage

This research report categorizes the almond oil market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the almond oil market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the almond oil market.

Driving Factors

The growing adoption of plant-based diets among consumers has given momentum to the usage of almond oil as a taste-giving cooking oil in many food items thereby nutritionally enhancing them. Penetration into the market is improved by the growth of e-commerce, thus making the purchase convenient for consumers worldwide. Furthermore, growing disposable income, most drastically in developing economies, has gone a long way in altering the way consumers spend their money. This further is likely to fuel demand for quality products such as almond oil.  

Restraining Factors

One of the restraining factors in the almond oil market has been the processing cost of almond oil. Thus, almond oil generally costs more, and consumers are resisting to buy the product when compared with other edible oils. This can be seen more in low disposable income regions as compared with developed regions.

Market Segmentation

The almond oil market share is classified into application, product, and distribution channel.  

• The personal care & cosmetics segment is estimated to hold the largest market share through the projected 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 estimated to hold the largest market share through the projected period. The segmental growth attributed to growing consumer preferences for ingredients from natural origins along with its vast versatility and utility in many ranges of products, including not just skincare cosmetics like moisturizers but also to be applied in specific treatments such as hair treatments or makeup removers. 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 estimated to hold the largest market revenue share through the projected period.

Based on the product, the almond oil market is classified into sweet oil and bitter oil. Among these, the sweet oil segment is estimated to hold the largest market revenue share through the projected period. The segment's growth is due to various health benefits, versatility in applications from cooking and cosmetic products, greater consumer awareness of natural products, 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 aware ingredients reaching their products, natural alternatives over synthetic ones have been adopted.  

• The cosmetic discounters segment is anticipated to hold the largest market share through the forecast period.

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 largest market share through the forecast period. Cosmetic discounters are increasing the range of products they offer in line with these trends and establishing specialty and organic almond oil products to satisfy changing customer demands.

Regional Segment Analysis of the Almond Oil Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Europe is anticipated to hold the largest share of the almond oil market over the predicted timeframe.

Europe is anticipated to hold the largest share of the almond oil market over the predicted timeframe. The region's growth is attributed to rising restaurant industries with an expanding tourism sector, a growing level of consciousness about health benefits, and use in cosmetics & personal care products fuels the market of almond oil. 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 expected to grow at the fastest CAGR growth of the almond oil market during the forecast period. This is caused by a significant population base, growing emphasis on health and wellness, the impact of social media and healthy communities, increasing demand for vegan diets, and the growth of e-commerce. In addition, 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.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the almond oil market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2023, Marico announced the launch of an innovative Hair & Care Oil in Serum to improve the overall health of hair by incorporating almond oil.+

• In August 2023, Bajaj Consumer Care Ltd. launched a new product Anti Hair Fall Shampoo which includes almond oil and vitamin E. The company intends to broaden its range of products and the growing market demand for products made with organic and natural ingredients.

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