Technavio’s market research report predicts that the global almond oil market will grow at a CAGR of nearly 13% during the forecast period. The rising demand for aromatherapy is one of the primary drivers for market growth. Aromatherapy uses essential oils for an extensive range of health conditions and is gaining wide popularity among spa customers. Aromatherapy offers various benefits including easing depression, reduced anxiety, better cognitive performance, improved digestion, and increased circulation and also strengthens the immune system and induces sleep. Since almond oil suites all skin types, it is used as a carrier oil in aromatherapy and massage therapies, subsequently increasing their demand in the coming years. Additionally, almond oil also improves the mood, changes cognitive states, and is also used as a supplemental medicine. Several cosmetic brands utilize essential oils like almond oils in their products and promote the products by displaying their aromatherapy advantages.
Innovative tactics and distribution strategies are adopted by almond oil manufacturers to raise their market shares. Avon, one of the world’s leading beauty product selling companies introduced Naturals Hair Oil, with seven oils (almond oil, coconut oil, vegetable oil, olive oil, macadamia oil, argan oil, and sunflower seed oil) for strong and healthy hair. Similarly, SoulTree also recenelty launched its Saffron & Almond Oil with Natural Vitamin E Nourishing Cream for dry skin. With increasing competition and growing demand, manufacturers will start intoriducing innovative products, which will be one of the major trends in the almond oil market in the coming years.
Competitive analysis and key vendors
The global almond oil market comprises of many private vendors. The market competition among the branded and unbranded companies are mainly on the basis of price, the inclusion of fortified ingredients, preparation time, product and packaging innovation, brand image, and product promotion. According to the almond oil market research report, the fluctuating consumer demands and their changing preferences are some of the major factors challenging the growth of the almond oil manufacturers.
Key players in the market are:
Frontier Natural Products (Aura Cacia)
Oil Seed Extractions (OSE)
Other prominent vendors include Bajaj, Caloy, Dabur, ESI, Grupo Plimon, Huiles Bertin, Humco Compounding, K. K. Enterprise, Mountain Ocean, NOW Foods OLIOFORA, and Provital Group.
Segmentation by product and analysis of the almond oil market
Sweet almond oil
Bitter almond oil
During 2016, the sweet almond oil segment dominated the product segment of the global almond oil market and is expected to continue its dominance over the next four years. The benefits of sweet almond oil such as the prevention of early signs of aging and its massage and skin care applications, will drive the growth of this segment. This in turn, will have a positive impact on the almond oil market size.
Geographical segmentation and analysis of the almond oil market
In terms of geography, the Americas led the global almond oil market during 2016 and is foreseen to continue the domination during the forecast period. The rise in awareness about the benefits of almond oils and the growth of the spa industry in region will fuel the growth of the market in the Americas.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global almond oil market?
What are the key market trends impacting the growth of the global almond oil market?
What are the challenges to market growth?
Who are the key vendors in the global almond oil market?
What are the market opportunities and threats faced by the vendors in the global almond oil market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global almond oil market?
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