North America Almond Oil Market

North America Almond Oil Market Size, Share (2022-2027)

North America Almond Oil Market size was worth USD 490 million in 2022 and is estimated to be growing at a CAGR of 12.10%, to reach USD 952 million by 2027

Recent Developments in North America Almond Oil Market:

1. Pip & Nut Ltd launched a vegan almond butter under its Cherry Bakewell brand in the UK. This product does not contain palm oil and only contains almond oil.

2. Bajaj Consumer Care Ltd launched a new hair oil in the cooling oils segment, Bajaj Cool Almond Drops Hair Oil. Bajaj Cool Almond Drops Hair Oil offers the benefits of a cooling oil without the hassle and stickiness issues. It is lightweight and has a unique combination of sweet almond oil and vitamin E to nourish hair.

3. Grupo LALA, a Mexican company focused on healthy and nutritious foods, announced that it has signed a multi-year license agreement with Blue Diamond Growers to market and distribute Blue Diamond Almond Breeze® almond beverages in Mexico. As part of this relationship, Blue Diamond Growers will source almond-based raw materials and bring its technical and quality-based expertise with the benefit of its cutting-edge almond-based innovation.

Market Drivers and Restraints:

The main factor influencing the increase in the demand for almond oil in North America is its wide use in cosmetic products due to the great demand for natural ingredients used in face creams, body lotions, and hair oils and in many other products for purposes of cleaning and hydration. Attributed to the widespread health benefits of almond oil, it has various uses such as body oil, facial oil, baby oil, and aromatherapy. Rising urban populations and rising living standards are other factors driving the demand for almond oil, as consumers today are more aware of products with natural ingredients and offering various health benefits. The growing demand for almond oil in aromatherapy due to its antifungal and antibacterial properties is driving the local market demand for almond oil. The use of almond oil in aromatherapy offers several health benefits, such as anxiety reduction, depression relief, improved cognitive performance, and induces sleep. Also, the use of almond oil as an essential oil in aromatherapy due to its wide range of health benefits and the growing popularity of the spa with customers is expected to drive the growth of the North American almond oil market. However, the high cost of almond oil is a major factor holding back the growth of the regional almond oil business. Furthermore, fluctuations in the price of almonds and excessive consumption of almond oil can lead to various health problems such as weight gain, blurred vision, headaches and diarrhea. These are important factors that are expected to hamper the growth of the North America almond oil market during the forecast period.

North America Almond Oil Market Segmentation:

The North America Almond Oil Market  is segmented

on the basis of Product into

• Sweet Almond Oil

• Bitter Almond Oil

On the basis of the Application,

• Cosmetics

• Food

Impact of COVID-19 on North America Almond Oil Market

Due to the unexpected lockdown situation that aroused as a part of controlling the spread of coronavirus has resulted in the temporary shutdown of manufacturing units and sales channels, leading to declined sales in the almond oil market in 2020. However, with the rising usage of almond oil in personal care products, the business is supposed to bounce back within short timeframe.

Regional Analysis:

• United States

• Canada

• Mexico

North America is projected to show major market growth in the worldwide marketplace compared to other areas. The factors that contribute to the growth of the market in this region are due to their gluten-free quality. There is growing popularity in the use of almonds for the production of food products such as bakery, breakfast cereals, snacks and more. In addition, investing more in research and development for the use of almonds in this area also contributes to its growth. According to the Los Angeles Times, California in the United States is considered to be the contributor of 82% of world almond production.

North America Almond Oil Market Key Players:

1. AAK

2. Frontier Natural Products

3. Flora

4. Oil Seed Extractions

5. Proteco

6. Bajaj

7. Dabur and Caloy