According to the latest report by IMARC Group, titled "Almond Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global almond oil market reached a value of US$ 2.4 Billion in 2022. Almond oil is an odorless, colorless to pale yellow, unsaturated fatty oil, which is extracted from the seeds of the Prunus dulcis tree and later cold-pressed to retain its nutritional values. It is a rich source of minerals, vitamins, fibers, phytochemicals, and phytosterols. Almond oil assists in stabilizing blood sugar levels, reducing weight, improving heart health, and inhibiting the risk of various chronic diseases, including cancer. Apart from this, they exhibit anti-inflammatory, emollient, and anti-dandruff properties, due to which it is extensively used as a key component in various personal care, cosmetics and food products.
Global Almond Oil Market Trends:
A significant rise in the production of aromatherapy goods, along with the shifting consumer preferences toward natural, organic, and herbal beauty products is primarily driving the almond oil market growth. In line with this, the increasing awareness amongst consumers regarding the benefits of using almond oil, such as reduced scar appearance and stretch marks and enhanced skin tone, are further facilitating the incorporation of almond oil in various cosmetic products. Moreover, the extensive usage of almond oil in the pharmaceutical industry for producing various drugs to treat irritable bowel syndrome (IBS) and high-density lipoproteins (HDL) is acting as another growth-inducing factor. Additionally, the implementation of favorable regulations by the government and the United States Food and Drug Administration (USFDA) to promote the uptake of natural ingredients, such as almond oil, as a functional ingredient in various consumer goods is contributing to the market growth. Other factors, such as continuous investments in research and development (R&D) activities and strategic collaborations amongst key players to introduce almond oil-infused, non-genetically modified organisms (GMO), clear label commodities, are further creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 4.8 Billion by 2028, growing at a CAGR of 12.2% during 2023-2028.
- Based on the type, the market has been bifurcated into sweet and bitter almond oil.
- On the basis of the application, the market has been segregated into food preparation, cosmetics, pharmaceutical, and others.
- Based on the distribution channel, the market has been classified into supermarkets and hypermarkets, food specialty stores, pharmacy, cosmetic discounters, and others.
- On a regional basis, the market has been bifurcated into North America (United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, along with the profiles of the key players being AOS Products Private Limited, Ashwin Fine Chemicals and Pharmaceuticals, Bajaj Consumer Care Ltd., Blue Diamond Growers Inc., Caloy Company LP, Dabur India Ltd., Eden Botanicals, ESI srl, Flora Manufacturing & Distributing Ltd., Liberty Vegetable Oil Company and Mountain Ocean Ltd.
|Base Year of the Analysis
||Type, Application, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AOS Products Private Limited, Ashwin Fine Chemicals and Pharmaceuticals, Bajaj Consumer Care Ltd., Blue Diamond Growers Inc., Caloy Company LP, Dabur India Ltd, Eden Botanicals, ESI srl, Flora Manufacturing & Distributing Ltd., Liberty Vegetable Oil Company and Mountain Ocean Ltd
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