Sweet Almond Oil Market boost demand over the forecast period By key players 2025 Now Health Group, Inc., Plimon, S.L., Provital Group, La Tourangelle, Inc., ESI S.p.A.

Market Players and Business Strategies

Key players are focused on adopting various organic and inorganic growth strategies such as mergers and acquisitions, joint ventures and partnerships, and product or technological innovations to retain position in the sweet almond oil market. For instance, in December 2017, Blue Diamond—almond supplier and processor—launched 100% sweet almond oil for application in massage oil, cosmetics, and personal care products.

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Some of the leading players operating in the global sweet almond oil market include Now Health Group, Inc., Plimon, S.L., Provital Group, La Tourangelle, Inc., ESI S.p.A., and Blue Diamond Growers, Inc. among others.

Market Taxonomy

On the basis of product type, the sweet almond oil market is segmented into:

Nonpareil Almond Oil
California Almond Oil
Mission Almond Oil
Others
On the basis of end-use industry, the sweet almond oil market is segmented into:

Food
Cosmetics & Personal Care
Others
On the basis of distribution channel, the sweet almond oil market is segmented into:

Hypermarket
Supermarket
Online Channels
Convenience Stores
Others

Market Trends

Nonpareil segment accounted for the largest market share in 2017 followed by California and mission almond oil, as it has thin outer shell and smooth kernel which allows blemish free and easy processing as compared to other types. According to According to California Department of Food and Agriculture (CFDA), in California, nonpareil almond accounted for 39% of the almond produced in 2012 and is expected to exhibit continuous growth. On the basis of end-use industry, the cosmetics segment is expected to exhibit significant growth in the sweet almond oil market over the forecast period. Increasing awareness among consumers regarding the benefits and applications in shower gels, skin moisturizer and others of sweet almond oil and rising popularity of aromatherapy is fueling growth of this segment in global sweet almond oil market.

Online channels segment is significantly gaining traction, as it offers a wide range of products through a single website and other offers such as free delivery. According to the India Brand Equity Foundation (IBEF), in India, revenue generated from online retail was US$ 6 billion in 2015 and is expected to reach up to US$ 70 billion by 2020.

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Market Outlook

North America is projected to exhibit a significant growth in global sweet almond oil market in 2017. This is attributed to increasing demand for sweet almond oil, due to its high nutritional value and various health benefits, resulting in increasing demand from pharmaceutical, food and cosmetic industries in this region. According to U.S. International Trade Administration (ITA), the export of personal care and cosmetic industry in the U.S. was valued at US$ 10.4 billion in 2015 and increased at an average rate of 15% over (2012–2015). However, increasing cost of almonds may have a negative impact on the growth of this market. According to Bureau of Labor Statistics (BLS), in the U.S., the price of almond increased from US$ 2.58 per pound to US$ 4.00 per pound from 2012 to 2014 respectively and is significantly increasing.

Asia Pacific is projected to witness significant growth in the global sweet almond oil market over the forecast period, owing to its increasing application such as cooking and frying, results in increasing food processing industry in the region. According to the India Brand Equity Foundation (IBEF), in 2016, the food processing industry in India was ranked fifth in terms of consumption, production, and exports, and increased at a CAGR of 11.74 % during 2011–2016.

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This release was published on openPR.