Almond Oil Market to Reach $5.58 Bn, Globally, by 2031 at 13.0% CAGR: Allied Market Research

PORTLAND, Ore., Feb. 21, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Almond Oil Market by Type (Sweet Almond Oil and Bitter Almond Oil), Application (Food Preparation, Cosmetic, Pharmaceutical, and Others), and Distribution Channel (Hypermarkets & Supermarkets, Food Specialty Stores, Pharmacy, Cosmetic Discounters, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031." According to the report, the global almond oil industry generated $1.45 billion in 2020, and is expected to reach $5.58 billion by 2031, witnessing a CAGR of 13.0% from 2022 to 2031.

Drivers, Restraints, and Opportunities

Increase in production of aromatherapy products, surge in preference toward cosmetic products containing natural ingredients, and rise of applications in the pharmaceutical industry drive the growth of the global almond oil market. However, high prices of different types of almond oils restrain the market growth. On the other hand, changes in lifestyle and supportive government regulations present new opportunities in the coming years.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/3087

Covid-19 Scenario

• Manufacturing activities of almond oil stopped partially or completely due to lockdown implemented across many countries. Moreover, disruptions in the supply chain and shortage of raw materials presented challenges in carrying out manufacturing with full capacity.
• The demand from application industries such as pharmaceutical, cosmetic, and others rolled down significantly due to halt in day-to-day operations during the lockdown. However, the demand is estimated to grow steadily post-lockdown as daily operations begin.

The sweet almond oil segment to continue its leadership status during the forecast period

Based on type, the sweet almond oil segment contributed to the largest share in 2020, accounting for more than two-thirds of the global almond oil market, and is projected to continue its leadership status during the forecast period. This is due to treatment for skin disorders such as psoriasis and eczema and wide utilization in skincare, pharmaceutical, and color-cosmetic industries due to its unique combination of healthy moisturization and natural stability. However, the bitter almond oil segment is projected to manifest the highest CAGR of 13.7% from 2022 to 2031, owing to wide usage in aromatherapy products and its capability in cleaning bacterial growth that may potentially cause infections or diseases.

The cosmetic discounters segment to continue its lead position during the forecast period

Based on distribution channel, the cosmetic discounters segment accounted for the highest share in 2020, contributing to more than one-third of the global almond oil market, and is expected to continue its lead position during the forecast period. This is attributed to availability of private label products at budgeted prices and better deals than other stores such as hypermarkets & supermarkets. However, the pharmacy segment is estimated to portray the largest CAGR of 13.9% from 2022 to 2031, owing to its usage in treatment for skin diseases such as psoriasis, more reliability than other channels, and utilization in manufacturing facial oil, body oil, massage oil, baby oil, and aromatherapy products.

North America to maintain its dominance in terms of revenue by 2031

Based on region, North America held the highest market share in 2020, accounting for around one-third of the global almond oil market, and is expected to maintain its dominance in terms of revenue by 2031. This is due to presence of numerous manufacturers, progressive lifestyle of the population, and supportive government initiatives to expand its investment in natural substances rather than synthetic substitutes. However, LAMEA is projected to register the fastest CAGR of 13.4% during the forecast period, owing to rise in demand for natural ingredient-based products and demand from the medical and spa & relaxation sectors.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/3087

Leading Market Players

• AOS Products Private Limited
• Ashwin Fine Chemicals & Pharmaceuticals
• Blue Diamond Growers, Inc.
• Caloy Quality Natural Oils
• Eden Botanicals
• Jiangxi Baicao Pharmaceutical Co., Ltd.
• Jiangxi Xuesong Natural Medicinal Oil Co., Ltd.
• Liberty Vegetable Oil Company
• Mountain Ocean
• NOW Foods
• Proteco Oils

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Antioxidants Market: Global Opportunity Analysis and Industry Forecast 2022–2031

Energy Gum Market: Global Opportunity Analysis and Industry Forecast 2022–2031

Food Intolerance Products Market: Global Opportunity Analysis and Industry Forecast 2020–2031

Plant-based Food Ingredients Market: Global Opportunity Analysis and Industry Forecast 2021–2030

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

SOURCE Allied Market Research