Global Almond Oil Market 2017-2021
About Almond Oil
Almond oil is an essential oil extracted from almonds and is used for cosmetic preparations, flavoring, and medicinal purposes. There are two types of almond oil: sweet almond oil and bitter almond oil. Sweet almond oil: It is a colorless or pale yellow fatty oil extracted from the seeds of sweet almond. They are used in preparing perfumes and confections. Bitter almond oil: It is a colorless or yellow, poisonous oil prepared by steam distillation of the almond meal of bitter almond seeds. It is used primarily in the manufacture of cosmetics, medicines, and perfumes.
Technavio’s analysts forecast the global almond oil market to grow at a CAGR of 12.62% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global almond oil market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Almond Oil Market 2017-2021
Technavio recognizes the following companies as the key players in the global almond oil market: AAK, Frontier Natural Products (Aura Cacia), Flora, Oil Seed Extractions (OSE) and Proteco.
Other Prominent Vendors in the market are: Bajaj, Caloy, Dabur, ESI, Grupo Plimon, Huiles Bertin, Humco Compounding, K. K. Enterprise, Mountain Ocean, NOW Foods, OLIOFORA and Provital Group.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing preference for online shopping. With the growth of e-commerce businesses worldwide, the vendors have the potential to increase their profitability; e-commerce accounts for approximately 12% of the world’s retail trade. Online and e-commerce channels support both business-to-business (B2B) and business-to-consumer (B2C) operations.”
According to the report, one driver in the market is increasing availability in modern retailing channels. Organized retailers have grown worldwide with the establishment of supermarkets, hypermarkets, and specialty stores. Essential oils such as almond oil are primarily sold by large organized retailers, as vendors in the market are highly dependent on large organized retailers. Supermarkets is a major distribution channel that supplies essential oils such as almond oil. Given the rise in population, the demand for these supermarkets is also growing. On an average user on a trip to a supermarket spends $30 per trip.
Further, the report states that one challenge in the market is low awareness rate. The lack of awareness about essential oils is restricting the growth of the market. The popularity of major essential oils like almond oil is mostly limited to North America and Europe, while in APAC, Africa, and the Middle East, its penetration rate is low. In most developing nations in these regions, the penetration of almond oil is low owing to the low affordability and awareness in these regions. Also, the people here are reluctant to purchase the product as it is not considered to be a necessity. Also, the product visibility and availability are low, attributed largely to the poor distribution network.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-food-global-almond-oil-market-2017-2021
AAK, Frontier Natural Products (Aura Cacia), Flora, Oil Seed Extractions (OSE), Proteco, Bajaj, Caloy, Dabur, ESI, Grupo Plimon, Huiles Bertin, Humco Compounding, K. K. Enterprise, Mountain Ocean, NOW Foods, OLIOFORA and Provital Group.
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