Sweet Almond Oil Market Progresses for Huge Growth to 2026 by Global Top Players - Now Health Group, Inc., Plimon, S.L., Provital Group, La Tourangelle, Inc., ESI S.p.A., and Blue Diamond Growers, Inc.
Sweet almond oil has wide range of medical applications such as laxative and as a vaccine additives. Furthermore, it is also used in moisturizers, soaps, shampoos, shaving creams, and bath oils, in the cosmetics and personal care industry. According to Cosmetic Europe, cosmetics and personal care industry in Europe was valued at US$ 94.13 billion in 2015 with Germany (US$ 15.89 billion) positioned as the largest market, followed by the U.K. (US$ 14.06 billion), France (US$ 13.94 billion), and Italy (US$ 12.10 billion), respectively. This is expected to be a major factor for growth of the market. However, high cost of sweet almond oil is restraining factor for the growth of market.
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Furthermore, manufacturers are developing new products, with more nutritive benefits, in order to cater to increasing consumer needs. For instance, Aura Cacia launched a unique line of skin care oils, in 2015 as 'Sweet Almond + Fruit Seeds Oil', which combines nutritive benefits of cherry seeds, raspberry, blueberry, and sweet almond oil for skin.
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.
On the basis of product type, the sweet almond oil market is segmented into:
Nonpareil Almond Oil
California Almond Oil
Mission Almond Oil
On the basis of end-use industry, the sweet almond oil market is segmented into:
Cosmetics & Personal Care
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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.
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