LOS ANGELES, Jan. 22, 2019 (GLOBE NEWSWIRE) -- Sweet almond oil is extremely popular among consumers and it is one of the significant factors responsible for the remarkable growth of global sweet almond oil market. Considering the in rising demand of sweet almond oil in the market, the team of research analysts dedicatedly working in the food and beverages domain of QY Research have thoroughly examined this market in order to provide detail insights to the clients.
After analyzing the trends, drivers, entry and risk barriers, challenges and growth rate of the global sweet almond oil market, QY Research has come up with a full proof report titled, “Global Sweet Almond Oil Market Insights, Forecast to 2025.” According to this report, the global market for sweet almond oil is was valued at US$ 159 Mn in the year 2017 and is expected to increased and attain the value of US$ 168 Mn by 2024 end, exhibiting the sluggish CAGR of 0.76% during the projected period.
United States to lead the global sweet almond oil market in terms of largest production in projected period
United States is the largest sweet almond oil producer in the world. The US alone export around 75% sweet almond oil in Asia Pacific and Europe region. More than 80% of world’s almonds are produced in California. On the other hand, in Europe, Germany and France are world’s largest sweet oil consuming countries that hold more than 50% share in the global market. The market is also booming in India and China where almonds are considered as healthy snacks option.
Sky rocketing prices of almonds is expected to restrain the growth of the global sweet almond oil market
The global market for sweet almond oil is driven by growing skin care advantages among consumers as sweet almond oil is consists of Vitamin E. It is the most beneficial quality of sweet almond oil that it assists in rejuvenating the skin, especially a dry skin. Sweet almond oil is useful for all kinds of skin care and cosmetic products. Nevertheless, lack of awareness regarding the usage and its benefits along with its rising prices are hampering the growth of the global sweet almond oil market during the projected period.
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Global Sweet Almond Oil Market: Segmental Analysis
On the basis of type, the global sweet almond oil market is segmented into mission almond oil, nonpareil almond oil, California almond oil and Others. Based on application, the global market for sweet almond oil market is segmented into food, cosmetics and others.
Global Sweet Almond Oil Market: Key Players
K. K. Enterprise, Caloy, Uğurluoğlu Vegetable Oil, NOW Foods, Oliofora|, ESI, La Tourangelle, AAK Natural Oils, Plimon, Provital Group, Natural Oils International, Mountain Ocean and Alqvimia are some of the leading companies that are functioning in the global sweet almond oil market. With 24% market share, Caloy was world leader in 2017, while top leaders in cosmetic industry such as Estee Lauder, L'oreal, L'oreal and Beiersdorf also use sweet almond oil in their products.
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