The global almond oil market size is expected to reach USD 1.6 billion by 2025, registering a 12.2% CAGR over the forecast period. Increasing consumer awareness regarding harmful chemicals used in cosmetics and personal care products has propelled the demand for organic and natural ingredients in these product categories. Furthermore, almond oil possesses excellent nutritional properties, including being a rich source of vitamin E, unsaturated fatty acids, and phytosterols and as a result, its application in aromatherapy, food and beverages, cosmetics, and personal care segments has increased.
Sweet oil is the fastest-growing product segment owing to its increasing application in cosmetics and personal care products. The segment is expected to register a revenue-based CAGR of 12.3% from 2019 to 2025. Key manufacturers are launching new products to cater to the increasing demand from customers. For instance, in September 2020, Harris Woolf Almonds launched single-source sweet almond oil for cosmetics and personal care made from 100% food-grade almonds.
Asia Pacific is the fastest growing almond oil market and is projected to register a CAGR of 12.8% in terms of revenue from 2019 to 2025. Over the past few years, the region has been witnessing increased investments in marketing campaigns and new product launches in developing countries such as India. For instance, in April 2019, Bajaj Corp Ltd launched a new cooling hair oil in India. This product launch is supported by an integrated marketing campaign by the company, which is focusing on celebrity endorsements to increase product visibility as well as penetration in the country. These initiatives are expected to remain key trends over the coming years.
Almond Oil Market Report Highlights
On the basis of product, the Sweet oil product segment dominated the market and is expected to exhibit a CAGR of 12.3% during the forecast period. The segment is driven by increasing applications in cosmetics, personal care, and pharmaceutical sectors.
Bitter almond oil accounted for 32.8% of the global almond oil market in 2018. The bitter almond oil serves several health benefits such as hindering fungal growth, pain treatment and spasms, killing intestinal worms and bacteria.
On the basis of application, the personal care and cosmetics segment is the largest and fastest-growing segment and is likely to exhibit a CAGR of 12.3% from 2019 to 2025, owing to a significant increase in product application in the industry.
The Asia Pacific region is projected to expand at a rapid pace with a CAGR of 12.8% during the forecast period.
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Almond Oil Market Segmentation
Grand View Research has segmented the global almond oil market on the basis of product, application, and region:
Almond Oil Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2025)
Almond Oil Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2025)
Personal Care and Cosmetics
Almond Oil Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2025)
Central & South America
Middle East & Africa
List of Key Players of Almond Oil Market
• Caloy, Inc.
• Blue Diamond Growers
• Jiangxi Baicao Pharmaceutical Co., Ltd
• Bajaj Corp Ltd
• Dabur India Ltd
• Frontier Natural Products Co-op
• Eden Botanicals
• Ashwin Fine Chemicals & Pharmaceuticals
• Proteco Oils
• Indian Natural Oils.
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