The global Almond Oil Market is projected to grow at a CAGR of 8.2% from 2024 to 2031, reaching a value of USD 2.8 billion by 2031. Europe dominates the market, accounting for 35% of the global share. Key metrics include increasing consumer preference for natural and organic personal care products, growing awareness of the health benefits of almond oil, and rising demand in the food and cosmetics industries.
The almond oil market is rapidly expanding, driven by the increased popularity of natural and plant-based products across a wide range of industries. Almond oil's versatility, various health and beauty benefits, and status as a clean label product all help to drive market growth. Furthermore, the growing popularity of aromatherapy and natural remedies boosts demand. The desire for clean beauty and natural skincare solutions is propelling market growth, especially in the cosmetics and personal care industries.
Market Trend: Rising demand for organic and cold-pressed almond oil Consumers are increasingly seeking organic and minimally processed almond oil for its purity and higher nutrient retention.
The transition to organic and cold-pressed almond oil demonstrates a substantial shift in consumer preferences in the almond oil sector. This movement is being driven by a better understanding of the benefits of organic farming practices and higher-quality cold-pressed oils. Organic almond oil is regarded as a purer and more environmentally friendly alternative, free of synthetic pesticides and contaminants. Cold-pressed extraction processes are preferred because they preserve the oil's inherent nutrients, flavour, and aroma. Now Foods and Life-Flo are cashing in on the craze by selling organic, cold-pressed almond oil. This trend extends beyond personal care to culinary applications, with individuals wanting high-quality, flavourful oils for gourmet dishes and dressings. As people become more concerned about their health and the environment, there will be a larger demand for organic and cold-pressed almond oil, resulting in innovation in manufacturing processes and product offers.
Market Driver: Expanding applications in the cosmetics and personal care industry The increasing use of almond oil in skincare, haircare, and massage products is driving market growth and product innovation.
The cosmetics and personal care industry has emerged as a significant driver of the almond oil market, with the oil becoming a popular ingredient in a variety of products. Its natural moisturising characteristics, high vitamin E concentration, and skin-friendly formulation make it suitable for use in anti-aging creams, body lotions, and face oils. In haircare, almond oil is prized for its ability to nourish and strengthen hair, therefore it is used in shampoos, conditioners, and treatments. The massage therapy industry is also helping to drive this trend, with almond oil being a popular choice due to its lightweight texture and skin-nourishing properties. Major cosmetic companies, including as L'Oréal and The Body Shop, have used almond oil in their product lines, emphasising its natural and nourishing properties. As consumer demand for natural and plant-based beauty products grows, almond oil's use in cosmetics and personal care is likely to develop even further, spurring innovation in formulations and uses.
Market Restraint: Price volatility and supply chain challenges Fluctuations in almond production and global supply chain disruptions can lead to price instability and supply uncertainties in the almond oil market.
Despite rising demand for almond oil, the market confronts price volatility and supply chain unpredictability. Weather and water availability are crucial environmental elements influencing almond cultivation, especially in key producing areas like California. Droughts, climate change, and pest problems can all have a substantial impact on almond harvests, creating variations in raw material availability and costs. For example, severe droughts in California in recent years have curtailed almond production, resulting in global market price increases. Furthermore, worldwide supply chain interruptions, such as those experienced during the COVID-19 epidemic, may have an impact on the distribution and availability of almond oil. These factors can cause price volatility, influencing consumer demand and manufacturer profitability. To address these issues, several firms are increasing their sourcing areas and investing in sustainable farming practices. Others are exploring other extraction technologies to increase production and efficiency. However, many almond oil industry rivals continue to confront significant issues in managing supply chain risks and guaranteeing a consistent supply of high-quality almonds.
Sweet almond oil has emerged as the leading category in the almond oil industry, with several applications in food, cosmetics, and personal care goods. This section is made with sweet almonds (Prunus dulcis), which are noted for their mild flavour, light texture, and a variety of nutritional benefits.
Organic and cold-pressed sweet almond oils have recently emerged to fulfil the growing demand for high-quality, natural products. For example, Aura Cacia and Viva Naturals have increased their organic sweet almond oil offers to appeal to health-conscious consumers and the natural beauty industry.
According to industry estimates, the sweet almond oil sector will account for more than 85% of the worldwide almond oil market by 2023. Market researchers predict that this segment will grow at a compound annual growth rate (CAGR) of 8.5% between 2024 and 2031, exceeding the total market growth rate. This growth is being driven by increased consumer knowledge of the oil's versatility and benefits, as well as its extensive use in the cosmetics industry and expanding applications in aromatherapy and massage therapy.
Europe dominantes the region segment due to top players contributing to the major market share, a large customer base for natural and organic products, and a well-established cosmetics industry.
Europe presently dominates the worldwide almond oil market, owing to high consumer awareness of natural and organic products, a well-developed cosmetics and personal care industry, and a long tradition of aromatherapy and natural medicines. The region's supremacy is credited to countries such as France, Germany, and Italy, who have a large presence in the natural cosmetics and gourmet food industries.
Recent trends in the European market include almond oil's growing appeal in organic and natural beauty lines, as well as its greater use in the food industry as a healthier substitute for traditional cooking oils. Furthermore, there is a growing demand for artisanal and locally made almond oil products, indicating a consumer interest in origin and sustainability.
Key data show that Europe will contribute for roughly 35% of global almond oil market revenue in 2023. The region is expected to maintain its leadership position during the projected period, with a 7.8% CAGR from 2024 to 2031.
The almond oil market consists of huge global corporations, regional manufacturers, and niche organic brands. To preserve their market position, major businesses prioritise product diversity, organic product line expansion, and distribution network improvement. Companies such as Now Foods, Caloy, and Plimon have established significant market positions by leveraging their quality reputations and diverse product offerings.
Market leaders use a variety of techniques to expand their market presence and respond to shifting consumer preferences. To attract health-conscious customers, Now Foods has increased its line of certified organic and non-GMO almond oil products. Similarly, Plimon has concentrated on technological advancements in extraction techniques to improve oil quality and purity.
According to a financial estimate, the top five rivals will hold more than 25% of the market share by 2023. Foods now has a market share of approximately 7%, followed by Caloy at 6%. Emerging brands like La Tourangelle and Naissance are quickly gaining traction, thanks to their concentration on high-quality, handcrafted items and robust e-commerce platforms.
The future prognosis indicates a shift towards more specialised and value-added almond oil solutions, such as infused oils or mixes that address specific skincare needs. Major firms are also investing in sustainable sourcing and transparent supply chains to suit rising consumer demand for ethically manufactured goods. The market is likely to see more collaboration between almond oil producers and cosmetic firms, as well as expansion into new application areas such nutraceuticals and functional foods.
As a senior market research analyst, I believe the almond oil industry is experiencing substantial upheaval as a result of changing consumer tastes and a broader shift towards natural and sustainable products across industries. The market's growth rate is directly linked to shifting trends in the cosmetics, personal care, and health food industries.
The emergence of "functional" almond oils, which have been purposely created or treated to enhance specific qualities for specific purposes, is a separate development to watch. This could include almond oils enhanced with vitamins or antioxidants for cosmetics, or specially treated oils with increased heat stability for culinary application. We may also see an increase in almond oil blends, which combine the advantages of almond oil with other plant oils or extracts. This trend towards functional specialisation has the potential to create new premium market niches while also driving innovation in product composition and production methods. As buyers gain a better awareness of the component benefits, these specialist almond oil solutions may command higher prices and provide new value propositions in the cosmetics and culinary industries.
Now Foods
Caloy
Plimon
AAK AB
Provital Group
La Tourangelle
Aura Cacia (Frontier Co-op)
Naissance
Mountain Ocean
Flora
Viva Naturals
Life-flo
May 2023: Now Foods introduces a new line of organic, cold-pressed almond oil products for the premium cosmetics and aromatherapy markets.
Caloy launched a line of almond oil-based cooking sprays in January 2024, hoping to capitalise on the food industry's growing demand for healthier cooking oils.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. Company Profiles (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. Now Foods
5.2. Caloy
5.3. Plimon
5.4. AAK AB
5.5. Provital Group
5.6. La Tourangelle
5.7. Aura Cacia (Frontier Co-op)
5.8. Naissance
5.9. Mountain Ocean
5.10. Flora
5.11. Viva Naturals
5.12. Life-flo (*LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Rising demand for organic and cold-pressed almond oil
6.1.2. Increasing use of almond oil in natural and clean label products
6.1.3. Growing popularity of almond oil in aromatherapy and massage therapy
6.2. Market Drivers
6.2.1. Expanding applications in the cosmetics and personal care industry
6.2.2. Rising consumer awareness of the health benefits of almond oil
6.2.3. Growing demand for plant-based and natural ingredients in various industries
6.3. Market Restraints
6.3.1. Price volatility and supply chain challenges
6.3.2. Competition from other plant-based oils
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Sweet Almond Oil
7.1.1. Refined Sweet Almond Oil
7.1.2. Virgin Sweet Almond Oil
7.2. Bitter Almond Oil
8. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Food Industry
8.2. Cosmetic & Personal Care
8.3. Pharmaceutical
8.4. Aromatherapy
8.5. Others
9. BY DISTRIBUTION CHANNEL (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Supermarkets/Hypermarkets
9.2. Specialty Stores
9.3. Online Retail
9.4. Others
10. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. North America
10.1.1. United States
10.1.2. Canada
10.1.3. Mexico
10.2. South America
10.2.1. Brazil
10.2.2. Argentina
10.2.3. Rest of South America
10.3. Europe
10.3.1. Germany
10.3.2. United Kingdom
10.3.3. France
10.3.4. Italy
10.3.5. Spain
10.3.6. Russia
10.3.7. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia
10.4.5. South Korea
10.4.6. Rest of Asia-Pacific
10.5. Middle-East
10.5.1. UAE
10.5.2. Saudi Arabia
10.5.3. Turkey
10.5.4. Rest of Middle East
10.6. Africa
10.6.1. South Africa
10.6.2. Egypt
10.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
BY TYPE
BY APPLICATION
BY DISTRIBUTION CHANNEL
BY REGION
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