Almond Oil Market Size was recorded at USD 2.3 billion in 2023. The Almond oil market industry is projected to grow from USD 2.59 Billion in 2024 to USD 6.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.51% during the forecast period (2024 - 2032). Rise in disposable incomes and changes in lifestyles are other factors that promote the almond oil market growth and become the key market drivers boosting the market growth.
Source: MRFR Database, Secondary Research, Primary Research, and Analyst Review
Market CAGR for the almond oil market was expected to experience growth due to increasing consumer demand for natural and organic products, as well as raising awareness of the health benefits associated with almond oil consumption. Additionally, the growth of the cosmetics and personal care industry, where almond oil is used in various products such as lotions and shampoos, was also expected to contribute to market growth.
The COVID-19 pandemic may have also impacted the almond oil market, with some reports indicating an increase in demand for natural and plant-based products, including almond oil, as consumers prioritize health and wellness. However, market trends can shift over time, and it's important to consult with current sources to get the most up-to-date information on the almond oil market.
Additionally, almond oil is widely used by pregnant women to help avoid stretch marks that are happening during pregnancy. Also, it is one of the best massage oils on the market, which doesn’t leave anything nasty on your skin and isn't greasy, which is very rare in massage oil. The increasing growth of the utilization of almond oil in the cosmetic industry acts as a booming factor for the growth of the market. As it has the ability to reduce scar presence, improve skin tone and complexion, under-eye circles, and lessen puffiness which is acting as a boosting factor for the growth of the cosmetic industry.
Furthermore, especially for vegetarians, almond oil is highly beneficial as it gives a substantial amount of protein and iron, which are mostly lacking by vegetarians, and also acts as a supporting factor for the growth of the market. Moreover, the innovative use of almond oil in hair treatments for dandruff and hair damage also acts as an immense opportunity for the growth of the market. This is owing to more demand for almond oil by people who have hair issues. The higher cost of almond oil, as compared to other types of oil, acts as a restraining factor that hampers the growth of Almond Oil market revenue.
The almond oil market segmentation, based on process, includes hot press and cold press. The cold press segment dominated the market, accounting for the largest market revenues. In developing economies, category growth is driven by an expanding overweight population and increased health concerns. On the other hand, the hot press is estimated to record a higher CAGR during the forecast period.
The almond oil market segmentation, based on Type, includes sweet almond oil and bitter almond oil. The sweet almond oil category generated higher income figures. This sweet Almond oil is used for multiple purposes in the cosmetic industry as reepithelization agents, subem-restoring agents, and lubricants which aim at hygiene and treating children or sensitive skin. This further helps in providing solutions to those who cannot take alcoholic solutions as essential oils to children and the elderly. Furthermore, this oil is rich in antioxidants, which boost immunity as well as act as an anti-inflammatory.
On the other hand, bitter Almond oil contains some toxic variants which are refined before use. Bitter almonds also have some significant benefits that help to treat the intestine, kill' bacteria, and reduce pain and spasms.
Figure 1: Almond Oil Market, by Type, 2022 & 2032 (USD billion)
Source: MRFR Database, Secondary Research, Primary Research, and Analyst Review
The Almond Oil market segmentation, based on application, includes cosmetics and personal care, food & beverages, and others. The cosmetics and personal care segment dominated the market and is expected to show a significant rise in the CAGR during the forecast period. Almond oil conditions the skin and enhances the texture and absorption of body lotions, fragrance ingredients, face creams, cleaning products, bath oils, soaps, hair care products, sun tanning products, and makeup. This continuous development of skin care products is expected to provide great possibilities for Almond oil to grow in the forecast period.
Furthermore, the rising adoption of a healthy lifestyle amongst people, with increasing demand for nutritious and healthy food ingredients, is captivating key manufacturers to adapt to the market strategies such as product innovations and bringing variations in an already existing product.
By Region, the study states market insights into North America, Asia-Pacific, Europe, and the Rest of the World. The North American Almond oil market will dominate this market, owing to the increasing demand for highly nutritious and natural ingredients among consumers. Moreover, the rising awareness regarding the properties of almond oil among consumers is also fueling the regional growth of the Almond Oil Market.
Further, the main countries studied in the market report are The Asia-Pacific, U.S., German, the UK, France, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ALMOND OIL MARKET SHARE BY REGION 2022 (%)
Source: MRFR Database, Secondary Research, Primary Research, and Analyst Review
Europe's Almond Oil market accounts for the second-largest market share due to its gluten-free quality. There is an increasing popularity in the usage of almonds for the production of food products such as bakery, breakfast cereals, snacks, and others. Further, the German Almond Oil market held the largest market share, and the UK Almond Oil market was the fastest-growing market in this Region.
The Asia-Pacific Almond Oil Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to expanding awareness of a healthy lifestyle and nutrition and increasing usage of almond oil in innovative food & beverage products, personal care, and cosmetic products. Moreover, China’s Almond Oil market held the largest market share, and the Indian Almond Oil market was the fastest-growing market in the Asia-Pacific region.
Leading market players are spending heavily on R&D in order to expand their product lines, which will help the Almond Oil market grow even more. Market participants are also undertaking a variety of strategic measures to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market, Almond Oil companies must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Almond Oil industry to benefit clients and increase the market sector. In recent years, the Almond Oil industry has offered some of the most significant advantages to medicine. Major players in the Almond Oil market, including Proteco Oils (Australia), Henry Lamotte Oils GmbH (Germany), Jiangxi Baicao Pharmaceutical Co. Ltd (China), Aos Product Pvt. Ltd. (India), and others, are attempting to increase market demand by investing in research and development operations.
Proteco Oils is an Australian company based in Kingaroy, Queensland, that is the leading specialist manufacturer of high-quality cold-pressed oils using fresh Australian-grown produce, which have been established for over 25 years. With their state-of-the-art press and filtration and refinery technology, they use traditional and cold-pressed extraction methods and do not employ chemical or solvent extraction processes, ensuring the aroma, flavor, and nutritional characteristics of their quality raw materials are preserved.
Established in 2008, Jiangxi Baicao Pharmaceutical Company has made a name for itself as the top supplier of oil can in China. The supplier company is located in Jian, Jiangxi, and is one of the best leading sellers of listed products. Jiangxi Baicao Pharmaceutical Company is listed in Trade India's list of authentic sellers offering supreme quality Cedrus Oil etc. Buy oil can in bulk from us for the best quality products and service. In accordance with the requirements of GMP, they have modern production art, with perfect quality, earned a good reputation, our product sold all over the world, not domestically but overseas. The company has developed with technology, won with creditability, and would like to supply its best service to the pharmaceutical, food, Cosmetic, and chemical industries, etc.
Key Companies in the Almond Oil market include
Almond Oil Industry Developments
April 2019: Bajaj Consumer Care Ltd announced the launch of the new Bajaj Cool Almond Drops Hair Oil. This oil will provide the advantage of cooling oil with the absence of hassles and issues of stickiness.
February 2019: Blue Diamond Growers declared its partnership with Grupo Lala Sign. This partnership will result in the distribution and sales of Almond Breeze.
June 2022: Bajaj Consumer Care Ltd. announced its plans to launch new products in different categories under its flagship Bajaj Almond Drops brand as it seeks to tap into the equity of the popular hair oil label, according to a top company official.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 2.3 billion |
| Market Size 2024 | USD 2.59 billion |
| Market Size 2032 | USD 6.2 billion |
| Compound Annual Growth Rate (CAGR) | 11.51% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Process, Type, Application, and Region |
| Geographies Covered | North America, Asia Pacific, Europe, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, South Korea, Australia, and Brazil |
| Key Companies Profiled | Florapower GmbH & Co. KG (Germany), Proteco Oils (Australia), Henry Lamotte Oils GmbH (Germany), Eden Botanicals (US), Caloy Inc. (US), Liberty Vegetable Oil Company |
| Key Market Opportunities | · increasing use of organic products · growing health consciousness |
| Key Market Dynamics | · Increase in health benefits |
Almond Oil Market Highlights:
Frequently Asked Questions (FAQ) :
The Almond Oil market size was valued at USD 2.1 Billion in 2022.
The market is estimated to grow at a CAGR of 11.51% during the forecast period, 2024-2032.
North America had the largest share of the market.
The key players in the market are Florapower GmbH & Co. KG (Germany), Proteco Oils (Australia), and Henry Lamotte Oils GmbH.
The Cold Press Almond Oil category dominated the market in 2022.
Sweet Almond Oil had the largest share of the market.
Cosmetics and personal care had the largest share of the market.
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