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Strategic Analysis of Walnut Oil Market Analysis,Status and Business Outlook 2018 to 2021
Walnut oil finds its use not only in skin care but also as hair oil, wood finishing oil, used for various cooking purposes. Walnut Oil has several other medicinal properties as well such as lowers cholesterol, antifungal, anti-inflammatory, anti-oxidant properties and finds various applications in pharmaceutical industry.
Juglans regia, the most common walnut oil species also known as English walnut or walnut. Walnut oil is a total health, beauty and home remedy available in the market. The walnut oil preparation is obtained by solvent extraction method or a cold pressing method. This oil has abundant Omega 3 essential fatty acids making it excellent for skin care use. The mineral content of walnut includes iron, zinc, sodium, selenium, calcium, magnesium and phosphorus. The oil is said to have great emollient properties making skin feel smooth and soft. Other skin benefits such as protection from free radical damage, this is due to its antioxidant properties. Thus, market demand for walnut oil from skin care products is higher. Walnut oil also provides relief from fungal infections like ringworm, athlete’s foot. Walnut oil is a quick drying oil, hence is an excellent choice for body massage giving a soothing relaxing feeling and is gentle to use.
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Walnut Oil Market Segmentation:
The global walnut oil market is segmented on the basis of application, distribution channel, and region. Based on its application, the global walnut oil market is segmented as nutritional supplements, cosmetics products, aromatherapy and others such as wood finish and paint thinners etc.
Amongst all application segments cosmetics segment is expected to dominant market over the forecast period, owing to the increasing demand from natural oil based skin care and hair care cosmetics. Nutritional supplements product segment is forecasted to grow due to its popularity in weight loss therapy and nourishment by omega-3 fatty acids. Walnut oil blends well with other massage oils, thus, increasing popularity in aromatherapy is another factor driving growth of walnut oil market. Walnut oils use in wood polishing and paint thinner industry is attributed to it safe for food wood finishing and is an odorless paint remover.
Based on distribution channel, the global walnut oil market is segmented as online retail, supermarkets/hypermarkets, and specialty stores. Among which, the online retail is expected to gain major revenue shares over the forecast period.
Walnut Oil Market Drivers and Trends:
Various mergers, acquisitions, partnership and collaboration in the walnut oil market and relatively high investment in food industry have been driving the walnut oil market at a steady rate.
Walnut oil manufacturers are focusing on introducing new process refinement for better quality product by introducing production line processing. Macroeconomic factors like changing lifestyle, growing economy, and increase in per capita income are factors expected to lead the growth of global walnut oil market. The increased awareness among consumers regarding health benefits and various other applications of walnut oil in skin and hair care are factors expected to fuel market demand for walnut oil.
The rising price of high quality walnut oil products can be a restraining factor for the walnut oil market over the forecast period.
Walnut Oil Market Regional Outlook:
On the basis of regions, the walnut market can be segmented into seven key regions; North America, Latin America, Western and Eastern Europe, Asia Pacific Excluding Japan, Japan and The Middle East and Africa. North America and Asia Pacific grabs the major share of global walnut oil market and expected to grow at a steady rate. Western Europe regional market is expected to grow at a relatively higher growth rate over the forecast period, due to the increased demand driven by awareness among consumers about the health benefits of walnut oil.
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Walnut Oil Market Key Players:
Some of the key players participating in the global walnut oil market includes ; La Tourangelle , La Nogalera walnut oil, Proteco , Aromex Industry , Yunnan Guzhiji Nutriment , Shuda Group , Yunnan Huizhiyuan , Shanghai Rongshi, Hebei Sanli etc.
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