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Apricot Oil Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Mar 2022
  • Pages: 120
  • SKU: IRTNTR72762
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The apricot oil market share is expected to increase by 451.00 thousand tons from 2021 to 2026, at a CAGR of 4.50%.

This apricot oil market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers apricot oil market segmentation by application (food and beverages, cosmetics, pharmaceuticals, and other applications) and geography (Europe, APAC, MEA, North America, and South America). The apricot oil market report also offers information on several market vendors, including DevinezIndia, Josie Maran Cosmetics LLC, Natures Absolutes, Natures Alchemy, NOW Health Group Inc., Nuerma Science, Nutraceutical Corp., Physicians Formula, PLANTLIFE Inc., and Pre de Provence among others.

What will the Apricot Oil Market Size be During the Forecast Period?

Apricot Oil Market Size

Download the Free Report Sample to Unlock the Apricot Oil Market Size for the Forecast Period and Other Important Statistics

 

Apricot Oil Market: Key Drivers, Trends, and Challenges

The increased demand for Turkish apricot oil products is notably driving the apricot oil market growth, although factors such as distribution challenges may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the apricot oil industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Apricot Oil Market Driver

One of the key factors driving growth in the apricot oil market is the increased demand for Turkish apricot oil products. Apricots are primarily cultivated across the Mediterranean and Central Asia, with Turkey being the leading producer. Vitamins E and A, both of which have been linked to healthy skin, are present in apricot oil. Turkish apricot kernels are among the best, and Turkish apricot oil is a unique brand. The US, Germany, and France are the top importers of Turkish apricot. Premium Turkish apricot oil is sold in a variety of retail stores throughout the world, including Turk Attar, Batafood, the Organic Beauty Shop, Greenberry Organics, and Olvita. The production of apricots in Turkey has expanded dramatically in recent years, maintaining strong demand and propelling the market to significant development.

Key Apricot Oil Market Trend

Clean labeling is another factor supporting the apricot oil market share growth. The country of origin plays a major role in the purchasing decisions of consumers directly or indirectly. For instance, US consumers consider foods packaged in the US and Canada to be safer to consume than those from other regions based on freshness, taste, and food safety. Country-of-origin labeling (COOL) in the US introduced the labeling of products to keep consumers informed to make better purchasing decisions. However, the implementation of labeling has caused producers to incur high costs. The US government has appealed the proceeding of COOL in regions such as Canada and Mexico, as these regions have claimed that the law discriminates against their producers. Private-label superfoods are becoming popular among consumers as they are affordable. These food products are being stocked in retail stores. Thus, manufacturers of apricot oil are required to address concerns about trust and ethics regarding such products to avoid losing customers.

Key Apricot Oil Market Challenge

The distribution challenges will be a major challenge for the apricot oil market during the forecast period. Retail stores such as supermarkets, hypermarkets, and large chains of discount or convenience stores have become important distribution modes for manufacturers and vendors of apricot oils. Manufacturers are under significant pressure regarding the prices and margins of apricot oil products, as retail stores operate at a lower profit margin. Retailers demand manufacturers to make frequent and smaller product deliveries for reduced warehousing costs. Retailers want to avoid any decline in revenues by fulfilling the gaps in the inventory that arise when there is a shortage of supply from vendors. This means that a retailer will not hesitate to go to other vendors if a particular manufacturer is not able to supply an adequate amount of goods. Channel shifts by consumers have also forced manufacturers to develop new skills in category management. Consumers have shown more inclination toward convenience stores, which has forced manufacturers to find a suitable balance between price and volume.

This apricot oil market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global apricot oil market global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the apricot oil market during the forecast period.

Who are the Major Apricot Oil Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • DevinezIndia
  • Josie Maran Cosmetics LLC
  • Natures Absolutes
  • Natures Alchemy
  • NOW Health Group Inc.
  • Nuerma Science
  • Nutraceutical Corp.
  • Physicians Formula
  • PLANTLIFE Inc.
  • Pre de Provence

 

This statistical study of the apricot oil market encompasses successful business strategies deployed by the key vendors. The apricot oil market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • DevinezIndia -The company offers apricot oil that contain gamma linoleic acid that is useful to firm and tone your skin, under the brand name of Devinez.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The apricot oil market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Apricot Oil Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the apricot oil market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the packaged foods and meats market includes the following core components:

  • Inputs
  • Inbound logistics
  • Primary processing
  • Secondary and tertiary processing
  • Outbound logistics
  • End-customers
  • Marketing and sales
  • Service
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Apricot Oil Market?

Apricot Oil Market Market segmentation by region

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35% of the market's growth will originate from Europe during the forecast period. Turkey, Slovenia, and Czech Republic are the key markets for apricot oil in Europe. Market growth in this region will be slower than the growth of the market in other regions.

The increasing health awareness among individuals, the rising demand for apricot oil products, and their growing use for aromatherapy in countries such as Germany, France, Austria, and Switzerland will facilitate the apricot oil market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic in 2020 had a severe impact on the regional market. It resulted in the imposition of trade restrictions to minimize the spread of the disease. This, in turn, negatively affected the market. However, various measures were taken by countries in Europe to control the spread of the disease by enforcing social distancing measures in manufacturing facilities, such as those processing apricot oil. The administration of COVID-19 vaccines since February 2021 in the region further led to a decrease in the number of active COVID-19 cases in 2021 when compared to 2020. Considering these factors, the regional market will grow during the forecast period.

What are the Revenue-generating Application Segments in the Apricot Oil Market?

Apricot Oil Market Segmentation

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The apricot oil market share growth by the food and beverages segment will be significant during the forecast period. Unlike dried herbs, which typically lose up to 90% of their nutrients and oxygen molecules when dried, apricot oil retains its properties. Therefore, people are increasingly replacing herbs with apricot essential oil to increase the nutritional value of food and beverages. The increased demand for natural and organic products due to rising health concerns is one of the factors driving the market growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the apricot oil market size and actionable market insights on post COVID-19 impact on each segment.

 

Apricot Oil Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 4.50%

Market growth 2022-2026

451.00 th tons

Market structure

Fragmented

YoY growth (%)

4.92

Regional analysis

Europe, APAC, MEA, North America, and South America

Performing market contribution

Europe at 35%

Key consumer countries

Turkey, Uzbekistan, Mexico, Slovenia, and Czech Republic

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

DevinezIndia, Josie Maran Cosmetics LLC, Natures Absolutes, Natures Alchemy, NOW Health Group Inc., Nuerma Science, Nutraceutical Corp., Physicians Formula, PLANTLIFE Inc., and Pre de Provence

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Apricot Oil Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive apricot oil market growth during the next five years
  • Precise estimation of the apricot oil market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the apricot oil industry across Europe, APAC, MEA, North America, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of apricot oil market vendors

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1. Executive Summary                        

              1.1 Market Overview

                             Exhibit 01:  Key Finding 1

                             Exhibit 02:  Key Finding 2

                             Exhibit 03:  Key Finding 3

                             Exhibit 04:  Key Finding 5

                             Exhibit 05:  Key Finding 6

                             Exhibit 06:  Key Finding 7

2. Market Landscape                          

              2.1 Market ecosystem            

                             Exhibit 08  Parent market

                             Exhibit 09:  Market characteristics

              2.2 Value Chain Analysis         

                             Exhibit 10:  Value chain analysis

                             2.2.1 Inputs

                             2.2.2 Inbound logistics

                             2.2.3 Primary processing

                             2.2.4 Secondary and tertiary processing

                             2.2.5 Outbound logistics

                             2.2.6 End-customers

                             2.2.7 Marketing and sales

                             2.2.8 Services

                             2.2.9 Innovations

3. Market Sizing                     

              3.1 Market definition

                             Exhibit 11 : Offerings of vendors included in the market definition

              3.2 Market segment analysis 

                             Exhibit 12:  Market segments

              3.3 Market size 2021 

              3.4 Market outlook: Forecast for 2021 - 2026 

                             Exhibit 13:  Global - Market size and forecast 2021 - 2026 (thousand tons)

                             Exhibit 14:  Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis                        

              4.1 Five Forces Summary       

                             Exhibit 15:  Five forces analysis 2021 - 2026

              4.2 Bargaining power of buyers          

                             Exhibit 16: Bargaining power of the buyer

              4.3 Bargaining power of suppliers      

                             Exhibit 17: Bargaining power of the supplier

              4.4 Threat of new entrants    

                             Exhibit 18: Threat of new entrants

              4.5 Threat of substitutes        

                             Exhibit 19: Threat of substitutes

              4.6 Threat of rivalry  

                             Exhibit 20: Threat of rivalry

              4.7 Market condition

                             Exhibit 21: Market condition - Five forces 2021

5. Market Segmentation by Application                      

              5.1 Market segments

                             The segments covered in this chapter are:

  • Food and beverages
  • Cosmetics
  • Pharmaceuticals
  • Other applications

                             Exhibit 22:  Application - Market share 2021-2026 (%)

              5.2 Comparison by Application            

                             Exhibit 23:  Comparison by Application

              5.3 Food and beverages - Market size and forecast 2021-2026

                             Exhibit 24:  Food and beverages - Market size and forecast 2021-2026 (thousand tons)

                             Exhibit 25:  Food and beverages - Year-over-year growth 2021-2026 (%)

              5.4 Cosmetics - Market size and forecast 2021-2026   

                             Exhibit 26:  Cosmetics - Market size and forecast 2021-2026 (thousand tons)

                             Exhibit 27:  Cosmetics - Year-over-year growth 2021-2026 (%)

              5.5 Pharmaceuticals - Market size and forecast 2021-2026      

                             Exhibit 28:  Pharmaceuticals - Market size and forecast 2021-2026 (thousand tons)

                             Exhibit 29:  Pharmaceuticals - Year-over-year growth 2021-2026 (%)

              5.6 Other applications - Market size and forecast 2021-2026   

                             Exhibit 30:  Other applications - Market size and forecast 2021-2026 (thousand tons)

                             Exhibit 31:  Other applications - Year-over-year growth 2021-2026 (%)

              5.7 Market opportunity by Application            

                             Exhibit 32:  Market opportunity by Application

6. Customer landscape                       

                             Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

              6.1 Overview

                             Exhibit 33:  Customer landscape

7. Geographic Landscape                   

              7.1 Geographic segmentation

                             The regions covered in the report are:

  • Europe
  • APAC
  • MEA
  • North America
  • South America

                             Exhibit 34:  Market share by geography 2021-2026 (%)

              7.2 Geographic comparison  

                             Exhibit 35:  Geographic comparison

              7.3 Europe - Market size and forecast 2021-2026         

                             Exhibit 36:  Europe - Market size and forecast 2021-2026 (thousand tons)

                             Exhibit 37:  Europe - Year-over-year growth 2021-2026 (%)

              7.4 APAC - Market size and forecast 2021-2026            

                             Exhibit 38:  APAC - Market size and forecast 2021-2026 (thousand tons)

                             Exhibit 39:  APAC - Year-over-year growth 2021-2026 (%)

              7.5 MEA - Market size and forecast 2021-2026             

                             Exhibit 40:  MEA - Market size and forecast 2021-2026 (thousand tons)

                             Exhibit 41:  MEA - Year-over-year growth 2021-2026 (%)

              7.6 North America - Market size and forecast 2021-2026          

                             Exhibit 42:  North America - Market size and forecast 2021-2026 (thousand tons)

                             Exhibit 43:  North America - Year-over-year growth 2021-2026 (%)

              7.7 South America - Market size and forecast 2021-2026          

                             Exhibit 44:  South America - Market size and forecast 2021-2026 (thousand tons)

                             Exhibit 45:  South America - Year-over-year growth 2021-2026 (%)

              7.8 Key leading countries       

                             Exhibit 46:  Key leading countries

              7.9 Market opportunity by geography

                             Exhibit 47:  Market opportunity by geography (thousand tons)

8. Drivers, Challenges, and Trends                 

              8.1 Market drivers     

                             8.1.1 Increased demand for Turkish apricot oil products

                             8.1.2 Health benefits of apricot oil

                             8.1.3 Diversification of applications of apricot oil

 

              8.2 Market challenges             

                             8.2.1 Distribution challenges

                             8.2.2 Growing popularities of substitute

                             8.2.3 Fluctuating prices of apricot oil

                             Exhibit 48:  Impact of drivers and challenges

              8.3 Market trends     

                             8.3.1 Clean labeling

                             8.3.2 Increasing use of online marketing channels

                             8.3.3 Increasing interest in aromatherapy and growing use of apricot oil in spas

 

9. Vendor Landscape                          

              9.1 Competitive Scenario       

              9.2 Overview

                             Exhibit 49:  Vendor landscape

              9.3 Landscape disruption       

                             Exhibit 50:  Landscape disruption

                             Exhibit 51: Industry Risk

10. Vendor Analysis              

              10.1 Vendors covered             

                             Exhibit 52: Vendors covered

              10.2 Market positioning of vendors   

                             Exhibit 53: ?Market positioning of vendors?

              10.3 DevinezIndia     

                             Exhibit 54:  DevinezIndia - Overview

                             Exhibit 55:  DevinezIndia - Product and service

                             Exhibit 56:  DevinezIndia - Key offerings

              10.4 Josie Maran Cosmetics LLC          

                             Exhibit 57:  Josie Maran Cosmetics LLC - Overview

                             Exhibit 58:  Josie Maran Cosmetics LLC - Product and service

                             Exhibit 59:  Josie Maran Cosmetics LLC - Key offerings

              10.5 Natures Absolutes          

                             Exhibit 60:  Natures Absolutes - Overview

                             Exhibit 61:  Natures Absolutes - Product and service

                             Exhibit 62:  Natures Absolutes - Key offerings

              10.6 Natures Alchemy             

                             Exhibit 63:  Natures Alchemy - Overview

                             Exhibit 64:  Natures Alchemy - Product and service

                             Exhibit 65:  Natures Alchemy - Key offerings

              10.7 NOW Health Group Inc. 

                             Exhibit 66:  NOW Health Group Inc. - Overview

                             Exhibit 67:  NOW Health Group Inc. - Product and service

                             Exhibit 68:  NOW Health Group Inc. - Key offerings

              10.8 Nuerma Science

                             Exhibit 69:  Nuerma Science - Overview

                             Exhibit 70:  Nuerma Science - Product and service

                             Exhibit 71:  Nuerma Science - Key offerings

              10.9 Nutraceutical Corp.        

                             Exhibit 72:  Nutraceutical Corp. - Overview

                             Exhibit 73:  Nutraceutical Corp. - Product and service

                             Exhibit 74:  Nutraceutical Corp. - Key offerings

              10.10 Physicians Formula       

                             Exhibit 75:  Physicians Formula - Overview

                            Exhibit 76:  Physicians Formula - Product and service

                             Exhibit 77:  Physicians Formula - Key offerings

              10.11 PLANTLIFE Inc.

                             Exhibit 78:  PLANTLIFE Inc. - Overview

                             Exhibit 79:  PLANTLIFE Inc. - Product and service

                             Exhibit 80:  PLANTLIFE Inc. - Key offerings

              10.12 Pre de Provence            

                             Exhibit 81:  Pre de Provence - Overview

                             Exhibit 82:  Pre de Provence - Product and service

                             Exhibit 83:  Pre de Provence - Key offerings

11. Appendix                          

              11.1 Scope of the report        

                             11.1.1 ????Market definition

                             11.1.2 ????Objectives

                             11.1.3 ????Notes and caveats

              11.2 Currency conversion rates for US$           

                             Exhibit 84: ?Currency conversion rates for US$?

              11.3 Research Methodology  

                             Exhibit 85: ?Research Methodology

                             Exhibit 86: ??Validation techniques employed for market sizing?

                             Exhibit 87: ??Information sources

              11.4 List of abbreviations       

                             Exhibit 88: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Apricot Oil market growth will increase by $451.00 thousand tons during 2021-2026.
The apricot oil market is expected to grow at a CAGR of 4.50% during 2021-2026.
Technavio has segmented the apricot oil market by application (Food and beverages, Cosmetics, Pharmaceuticals, and Other applications) and geographic (Europe, APAC, MEA, North America, and South America).
DevinezIndia, Josie Maran Cosmetics LLC, Natures Absolutes, Natures Alchemy, NOW Health Group Inc., Nuerma Science, Nutraceutical Corp., Physicians Formula, PLANTLIFE Inc., Pre de Provence are a few of the key vendors in the apricot oil market.
Europe will register the highest growth rate of 35.15% among the other regions. Therefore, the apricot oil market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
  • Turkey
  • Uzbekistan
  • Mexico
  • Slovenia
  • Czech Republic
The key factors driving the apricot oil market growth are:
  • Increased demand for Turkish apricot oil products
The apricot oil market vendors should focus on grabbing business opportunities from the food and beverages segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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