(MENAFN- GlobeNewsWire - Nasdaq) The global Almond Oil market size is expected to reach USD 9.39 billion by 2031 and exhibit a CAGR of 13.10% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing awareness of the health benefits of almond oil in skincare and haircare products, the increasing consumer demand for natural and organic ingredients in cosmetics and personal care products, the expansion of the food industry, where almond oil is used in cooking and as a healthier alternative to other oils, the rising popularity of almond oil in massage and aromatherapy due to its therapeutic properties, and the export opportunities driven by the global demand for almond oil in various industries, including the pharmaceutical and food sectors is fueling the market's growth.Westford USA, Feb. 21, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Almond Oil market , the increasing popularity of almond oil as a base ingredient in natural and organic cosmetic and personal care products, the rising consumer demand for cold-pressed and unrefined almond oil due to its superior quality and retention of nutrients, the utilization of almond oil in the culinary industry for its mild flavor and health benefits, the development of almond oil-based dietary supplements and nutraceuticals to tap into the health and wellness market, and the sustainable sourcing and production of almond oil to meet the environmentally conscious preferences of consumers are the trends that aid in the market's growth.
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Pages - 157 Tables - 59 Figures -75
Almond oil is a vegetable oil extracted from the seeds of the almond tree. It is a clear, pale yellow oil with a mild, nutty flavor. Almond oil is rich in vitamins, minerals, and fatty acids, and it has various health and beauty benefits.
Prominent Players in Almond Oil Market
Blue Diamond Growers NOW Foods Frontier Co-op La Tourangelle Kirkland Signature Trader Joe's Whole Foods Market Amazon Walmart Target Costco Sprouts Farmers Market Wegmans Food Markets Kroger Safeway Albertsons Aldi Lidl Thrive Market Vitacost iHerb Nuts
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Report Scope & Segmentation :
Attributes
| Details
|
Forecast Period
| 2023-2030 |
Market Size in 2022
| 3.1 Billion |
2031 Value Projection
| 9.39 Billion |
| CAGR | 13.10% |
Segments Covered
| Type
Sweet Almond Oil and Bitter Almond Oil
Application
Cosmetics & Personal Care and Pharmaceuticals
|
Regions Covered
| North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Sweet Almond Oil Demand to Grow Substantially in the Forecast Period
Sweet almond oil dominates the global online market as it is non-toxic and considered safe for external and internal use, making it suitable for a wide range of applications, including cosmetics, food, and pharmaceuticals.
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Cosmetics and Personal Care are the Leading Application Segment
In terms of application, cosmetics, and personal care are the leading segment due to rising consumer preference for natural and organic ingredients in cosmetic and personal care products. Almond oil, especially the sweet almond variety, is known for its natural, non-toxic, and skin-friendly properties, making it a popular choice for skincare and haircare products.
North America is the leading Market Due to Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has a well-established natural and organic cosmetic and personal care product market. Consumer demand for natural ingredients, including almond oil, is robust, contributing to the region's dominance.
A recent report thoroughly analyzes the major players operating within the Almond Oil market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Almond Oil.
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Key Developments in Almond Oil Market
In May 2023, U.S.-based natural products company Sundial Brands acquired the almond oil brand 'SheaMoisture' from Unilever, expanding its presence in the natural skincare market. In April 2023, Indian beauty brand Mamaearth raised $40 million in funding to expand its portfolio of personal care products, including almond oil-based skincare and hair care products.
Key Questions Answered in Almond Oil Market Report
What specific growth drivers will impact the market during the forecast period? Can you list the top companies in the market and explain how they have achieved their positions of influence? In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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