Grape Seed Oil market size is forecast to reach $647.8 million by 2026, growing at a CAGR of 3.8% during the forecast period 2021-2026. Grape seed oil is obtained in winemaking. It is extracted from grape seeds that are obtained after wine is made. It is a rich source of polyunsaturated fatty acids that typically contains linoleic acid, and palmitic acid among others. Grape seed oil is used in cosmetic products and personal care. It is also used for acne reduction, and anti-inflammatory among others. Increasing demand of grape seed oil in personal care & cosmetics and increasing health consciousness among individuals along with rising spending on cosmetic products are the major factors driving the growth of the market. Increasing prevalence of chronic diseases and increasing consumption of grape seed oil products is set to further enhance the overall market development of the Grape Seed Oil Market for the period 2021-2026.
Grape Seed Oil Market Segment Analysis – By Extraction Process
Mechanical segment held the largest share in the Grape Seed Oil Market in 2020 and is estimated to grow at a CAGR 4.1% during the forecast period 2021-2026. This is attributed to the fact that it requires less energy consumption as compared to other techniques of extraction. Using cold press methods at low temperature, high quality oil is obtained without any addition of additives and solvents. Mechanical extraction does not involve any chemical reactions and makes the process easy to use. It is environment friendly and excludes the usage of hexane and air pollutant. The grape seed oil production requires less investments and so it is simple and ecological. Mechanical are estimated to register the higher CAGR over the period 2021-2026.
Grape Seed Oil Market Segment Analysis – By End User
Cosmetic held the largest share in the Grape Seed Oil Market in 2020 and is estimated to grow at a CAGR of 4.3% during the forecast period 2021-2026. This is owing to the increasing usage of grape seed oil in cosmetic & personal care products such as anti-aging products, hair care products, moisturizers, and bath oils among others. It helps in moisturizing the skin as well as repairs the skin. Increasing investments in the research & development, increasing availability of natural ingredients for enhancing the properties of the skincare, and increasing product innovations in the herbal extracts are increasing the growth of the segment. Cosmetic are estimated to register the higher CAGR over the period 2021-2026.
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Grape Seed Oil Market Segment Analysis – By Geography
North America dominated the Grape Seed Oil Market with a major share of 34.7% in 2020. This is attributed to the increasing government initiatives to enhance consumer knowledge towards new innovations in the field of grape seed oil, and increasing focus on the research & development to adopt plant extracts in medicinal formulations that offers health benefits. Increasing inclination of the grape seed oil consumers towards the natural and herbal products, and increasing number of applications in the healthcare sector is also increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing ability of the grape seed oil to enhance the health, lowering the cholesterol levels in the body, and proper health functioning. Increasing usage of the grape seed oil in reducing blood pressure, enhancing bone strength, and increasing awareness towards the lifestyle disorders is increasing the growth of the market in this region.
Grape Seed Oil Market Drivers
Increasing Prevalence of Cardiovascular Diseases
Increasing prevalence of cardiovascular diseases is increasing the growth of the Grape Seed Oil Market. Some of the major factors of cardiovascular disease includes unhealthy diet, usage of tobacco, and physical inactivity among others which raises the blood pressure and blood glucose causing overweight and obesity. According to WHO, Four out of 5 cardiovascular deaths are owing to heart attacks and strokes. Thus, increasing the growth of the Grape Seed Oil Market during the forecast period 2021-2026.
Rising Prevalence of Chronic Diseases
Rising prevalence of chronic diseases is increasing the growth of the Grape Seed Oil Market. Leading cause of death around the world is owing to the chronic diseases. It is estimated that around 29% of the death is owing to the chronic diseases. 40.5% of the U.S. population suffers from the diseases. Grape seed oil contains vitamin E along with fatty acids that helps to maintain a healthy diet. Thus, increasing the growth of the Grape Seed Oil Market during the forecast period 2021-2026.
Grape Seed Oil Market Challenges
Increasing Usage of Harmful Chemicals in the Production Process and Increasing Competition
Some of the factors that are set to impede the growth of the Grape Seed Oil Market are increasing usage of harmful chemicals in the production process and increasing competition. Increasing cost of production and availability of other products are also set to hinder the growth of the market during the forecast period 2021-2026.
Grape Seed Oil Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Grape Seed Oil Market. In 2020, the Grape Seed Oil Market share is consolidated by the top ten players present in the market. The Grape Seed Oil Market, top 10 companies are Food & Vine Inc., Hebei Biotechnology Co. Ltd., Mediaco Vrac, Borges Mediterranean Group, and Gustav Hees GmbH among others.
North America dominated the Grape Seed Oil Market in 2020 owing to the increasing awareness regarding personal grooming and increasing demand for personal & cosmetic industry. The Grape Seed Oil market scope for different regions will be provided in the final report.
Increasing preference of consumers towards cosmetic products and increasing demand for eco-friendly & sustainable food products are likely to aid the market growth of the Grape Seed Oil Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Grape Seed Oil Market report.
Increasing usage of harmful chemicals in the production process and increasing competition is poised to create the hurdles for the Grape Seed Oil Market.
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