Global Almond Oil Market – Industry Trends and Forecast to 2029

Global Almond Oil Market, By Type (Sweet Almond Oil, Bitter Almond Oil), Application (Food Preparation, Cosmetic, Pharmaceutical, Others), Distribution Channel (Hypermarkets & Supermarkets, Food Specialty Stores, Pharmacy) – Industry Trends and Forecast to 2029

Market Analysis and Size

Growing awareness among customers for their health and nutrition increased demand for natural and organic products such as non-GMO, plant-based ingredients, and clean labels. In addition, changing lifestyles and rising living standards have created a new market for the product especially in emerging economies.

Data Bridge Market Research analyses that the almond oil market was valued at USD 2.1 billion in 2021 and is expected to reach the value of USD 4.31 billion by 2029, at a CAGR of 9.40% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Report Scope and Market Segmentation

Market Definition

Almond oil is a yellowish oil extracted from the seeds of the Prunus dulcis tree, also known as the almond tree. It contains important nutrients like fats, fibre, phytochemicals, vitamins, and minerals. It helps boost immunity, maintain healthy cholesterol levels, and lower the risk of cancer and heart disease. It has antibacterial, antifungal, anti-inflammatory, emollient, and sclerosant properties that aid in complexion improvement and nourishing dry skin.

Almond Oil Market Dynamics

Drivers

• Rising health awareness of consumption almond oils

The almond oil help to reduce the risk of abnormal heartbeats or arrhythmias, which can result in the patient's sudden death. It also aids in the reduction of triglyceride levels, the slowing of the growth rate of atherosclerotic plaque, and the reduction of blood pressure. Consumers are increasingly shifting to healthier alternatives while viewing preventive care as a necessary tool to assist them in leading a healthier lifestyle. As a result, almond oils are becoming more popular because they are a good source of vitamins, proteins, and minerals and can help with diseases like cancer, asthma, and depression.

• Marketing strategies and endorsements to boost market growth

Some factors influencing consumers' purchasing decisions are brand name, nutritional value, and product safety. Awareness of the benefits of almond oil through various forms of media, including electronic and print, is also likely to influence purchasing behaviour. Various mergers and acquisitions, partnerships, collaborations in the almond oil market, as well as relatively high investment in the food industry, have propelled the almond oil market at a steady rate.

Opportunity

The increasing application of almond oil in pharmaceuticals is boosting the market, as are increasing public initiatives associated with health and fitness, which further aid the market. The growing consumer awareness of the health benefits of almond oil is driving the demand for market players to innovate in order to remain competitive. The growing demand for almond oil in the cosmetics and personal care sectors is being fuelled by increased consumer awareness of its numerous benefits. The ease with which information for home-made remedies for skin conditions and personal care is available has improved as a result of the rise in Internet culture. As a result, consumers are turning to medicinally beneficial oils such as almond oil for home-made personal care products. The rise in demand for the native form of almond oil is primarily due to this factor.

Restraints

One of the restraining actors in the almond oil market has been the processing cost of almond oil. As a result, the price of almond oil rises in general, and consumers become more hesitant to purchase it when compared to other edible oils. This is more visible in regions with low disposable income than in developed regions.

This almond oil market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the almond oil market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Almond Oil Market

The COVID19 pandemic has significantly impacted the global almond oil market. Due to laws and regulations imposed by various governments of different countries, several manufacturing units of almond oil were closed, which has had a negative impact on the product's production volume. This has also had a negative impact on the trading chambers of almond oil around the world. With most countries in the world on partial or full lockdown, demand for cooking almond oil was drastically reduced in the early stages of the pandemic.

Recent developments

• Shree Ram Proteins Ltd announced plans to build a new oil refinery in 2022, diversifying its business. The company has ordered a cutting-edge refining plant for the new business segment. By the end of January 2023, the company plans to launch Rape Seed Oil, Groundnut Oil, and Cottonseed Oil. It is classified as edible refined oil and will serve the company's domestic market. As a result of diversification, the company is expanding its business and expanding its product offerings to customers.
• Cargill purchased an edible oil refinery in Nellore, Andhra Pradesh, in 2021 to expand its footprint in Southern India and strengthen its existing supply chain in the country.

Global Almond Oil Market Scope

The almond oil market is segmented on the basis type, application and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Sweet almond oil
• Bitter almond oil

Application

• Cosmetics
• Food preparation
• Pharmaceutical
• Others

Distribution Channel

• Hypermarkets & Supermarkets
• Food Specialty Stores
• Pharmacy

Almond Oil Market Regional Analysis/Insights

The almond Oil market is analysed and market size insights and trends are provided by country, type, application and distribution channel as referenced above.

The countries covered in the almond oil market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America market is expected to account for the largest revenue share in the global market over the forecast period due to the increasing adoption of almond oil in the cosmetic industry and the presence of major operating players in the U.S. and Canada. In the coming years, the Asia Pacific market is expected to grow at a faster rate.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Almond Oil Market Share Analysis

The almond oil market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to almond oil market.

Some of the major players operating in the almond oil market are:

• Locavor (U.K.)
• La Tourangelle (U.S.)
• Roland Foods LLC (U.S.)
• Aromex Industry (India)
• Best Natures Cosmetic (Canada)
• Bio Planete (Germany)
• Biopurus . C.O. U.K. (U.K.)
• Byodo Naturkost GmbH (Germany)
• Clearspring L(U.S)
• Hain Celestial (U.S)
• Higher Nature Limited (U.K.)
• Nature Stuff Limited (U.K.)