Technavio, a tech-focused market research firm, has published a new report on the global almond oil market, which is expected to grow at a CAGR of close to 13% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global almond oil market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global almond oil market are elaborated below
Almond oil market in the Americas: The growth of the market in the Americas is attributable to the rise in awareness of the benefits associated with the consumption of almond oil. In terms of production, North America is the major producer of almonds by accounting for around 70% of the total global almond production annually. The US is the key revenue contributing country in the almond oil market in the Americas.
According to Manjunath Reddy, a lead analyst at Technavio, specializing in research on food, “In the US, factors such as the growing number of working women and anti-aging spa treatments will attract many potential clients to spas over the next four years. Almond oil is one of the popular essential oils used in spas for skincare, making the spa industry a key end-user.”
Almond oil market in the EMEA: Presence of more than 1,400 spas and health resorts in the region is the fundamental driving force behind the growth of the almond oil market in EMEA. Expansion activities and the establishment of new spas in the region during the forecast period is anticipated to drive further growth of the almond oil market in EMEA. The projected rise in demand for natural skin care products in Europe is also expected to facilitate the growth of the almond oil market in the EMEA over the next four years.
Almond oil market in APAC: Australia, China, and Japan are the key markets for organic essential oils in this region. The growth of the almond oil market in APAC is fueled by favorable economic conditions. According to the industry analysts at Technavio, strong emerging economies such as China, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam are likely to propel the demand for almond oil in the region in the coming years.
The leading vendors operating in the global almond oil market are:
- AAK
- Frontier Natural Products (Aura Cacia)
- Flora
- Oil Seed Extractions (OSE)
- Proteco
Other prominent vendors in the market include Bajaj, Caloy, Dabur, ESI, Grupo Plimon, Huiles Bertin, Humco Compounding, K. K. Enterprise, Mountain Ocean, NOW Foods OLIOFORA, and Provital Group.
A more detailed analysis is available in the Technavio report titled, ‘Global Almond Oil Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Guarana Seeds Market 2017-2021
- Global Coffee Pods Market 2017-2021
- Global Kefir Products Market 2017-2021
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