New York, April 28, 2023 (GLOBE NEWSWIRE) -- Market.us forecasts that the Cold Pressed Oil Market will exceed USD 43.8 billion by 2032, up from USD 26.5 billion in 2022, with a projected CAGR of 5.3% between 2023 and 2032.
The production and distribution of oils obtained using the cold press technique fall under the purview of the quickly expanding global cold pressed oil market. Compared to their conventional counterparts, cold-pressed oils are thought to be more natural and healthier because they are made without the use of chemicals, heat, or solvents. Crushing seeds, nuts, or fruits at low temperatures to preserve their flavor and important nutrients results in the extraction of cold-pressed oils, which are rich in antioxidants, vitamins, and minerals. This process also helps preserve the nutritional value and freshness of the oil.
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Key Takeaway:
- By type, the palm oil segment is dominant because of the low cost of production and high yield.
- By application, the food industry is most lucrative owing to oil being used in baking, frying, and cooking.
- By distribution channel, convenience stores are dominant because they are in residential areas and sold the product in less quantity.
- North America is the dominant market for cold pressed oil in the year 2022.
- APAC is growing with a higher CAGR owing to the population in this region being health conscious.
Factors affecting the growth of the Cold Pressed Oil industry?
Several factors have their impact on the growth of the cold pressed oil industry present in the market. Some of them are as follows;
- Consumer Awareness and Demand: Growing consumer awareness of the health advantages of cold pressed oils, combined with the trend towards healthier foods that are naturally processed, is the major factor driving growth in this industry.
- Availability of Raw Materials: The production of cold pressed oil depends on the availability of raw materials. Quality raw materials like nuts, fruits, and seeds have an impact on the production of oil. This includes factors like climate conditions, soil quality, and farming practices.
- Government Regulations: Government regulations related to food safety, labeling, and certification can have a significant impact on the production and distribution of cold pressed oils. Furthermore, complying with these rules may increase costs associated with production and distribution.
- Competition: The cold pressed oil market is becoming more and more competitive as new players enter the space and existing companies expand their product lines. This could have an impact on prices, quality standards, and innovation levels.
- Technological Advances: Technological advancements such as improved extraction methods and packaging can enhance production efficiency and the quality of cold pressed oils.
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Top Trends in Cold Pressed Oil Market
One of the major trends in the market is an increasing preference for natural and minimally processed items. Customers are increasingly seeking out items free from synthetic ingredients and chemicals, and cold pressed oils are well-positioned to meet this need. Cold pressed oils are made with only natural ingredients and minimal processing, making them a popular choice among health-conscious consumers.
Market Growth
The cold pressed oil market has been experiencing steady growth over the years due to increasing consumer demand for healthier and natural alternatives to conventional oils. The growth of the market can be attributed to various factors, including the increasing demand for natural and organic products, the rise of the vegan and vegetarian population, and growing awareness of the health benefits of consuming cold pressed oils. Additionally, the food industry's adoption of cold pressed oils in various applications has further propelled market growth. Regionally, Asia Pacific is expected to have the highest growth rate in the cold pressed oil market due to the rising demand for healthier food products and the increasing disposable income of consumers.
Regional Analysis
With a market share of 38%, the region of North America dominates the industry. The increasing demand for natural and organic products as well as plant-based diets is driving the North American market for cold pressed oil. With customers favoring oils like olive oil, coconut oil, and avocado oil, the US is leading this regional trend. The popularity of ethnic cuisine and healthy living trends have helped to boost cold pressed oil sales in Europe. Cold-pressed olive oil is primarily produced and consumed in nations like Spain, Italy, and Greece, while cold-pressed canola oil is primarily sold in Germany and the United Kingdom.
The demand for natural and healthy goods, as well as ethnic cuisines, is driving the growth of the cold-pressed oil market in the Asia-Pacific region. The demand for natural and healthy goods, as well as the rising appeal of traditional ingredients and cuisines, are driving the market for cold-pressed oil in the Middle East and Africa.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 26.5 billion |
| Market Size (2032) | USD 43.8 billion |
| CAGR (from 2023 to 2032) | 5.3% |
| North America Revenue Share | 38.0% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Growing consumer knowledge of health and wellness trends is one of the key factors propelling the cold-pressed oil market. Since they retain more of the flavor and important nutrients from their source ingredients, cold-pressed oils are thought to be healthier and more nutrient-dense than other types of oils. As people become more worried about the potential risks of synthetic ingredients, there is an increase in demand for natural and organic products, such as cold-pressed oils. Customers are willing to spend more for goods that don't contain pesticides or chemical additives.
Market Restraints
The high cost of production in this sector, which eventually raises retail prices, is one of the main challenges it faces. Specialized machinery and labor-intensive processes are needed for cold-pressing oils, which raises the cost of production. In addition, the restricted availability of raw materials like seeds and nuts adds another level of complexity and raises costs even higher. Because of this, cold-pressed oils are typically more expensive than other kinds of oils, which may discourage consumers on a tight budget from buying them.
Market Opportunities
The increasing demand for natural and organic products presents a significant opportunity for the industry. By emphasizing their natural qualities to health-conscious customers who are ready to pay more for superior and more sustainable products, cold-pressed oils can benefit from this trend. Cold-pressed oils are produced using primarily natural and barely processed ingredients. Another possible market for cold-pressed oil producers is the growth of e-commerce and online retail. These platforms open up new markets and a bigger customer base for businesses. Businesses can reach more customers by getting digital by branching out from conventional brick-and-mortar locations.
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Report Segmentation of the Cold-Pressed Oil Market
Type Insight
With a market share of about 40%, the palm oil sector is the most profitable one. Because of its higher oil yield and cheaper production costs compared to other oil products, palm oil is typically used in cold-pressed oil products. Most people are familiar with the versatility and health advantages of coconut oil. Due to its high smoke point and neutral test, cold-pressed sunflower oil is used in cooking and food preparation. Olive oil is a healthy option for salad dressing and cooking because it is high in monounsaturated fatty acids and antioxidants.
Application Insight
With a 56% market share, the food industry segment holds the majority of the market. In the food business, cold-pressed oils are typically used for baking, frying, and cooking. In addition to having high nutritional value, cold-pressed oils also have a distinctive flavor and fragrance that sets them apart from other kinds of oils. They are also utilized in agriculture as natural substitutes for synthetic fertilizers, livestock feed additives, biopesticides, fungicides, and insecticides. Finally, the moisturizing, nourishing, and anti-aging properties of cold-pressed oils, which are used in lotions, creams, shampoos, and conditioners, are what make them a popular choice among consumers in the cosmetics and personal care sectors.
Distribution Channel Insight
Convenience stores are modest retail businesses situated close to residences or places of business, and they frequently sell cold-pressed oils. These shops generally stock a small variety of products, such as food and personal care items. Department shops, which are bigger retail establishments with a wide variety of products in various categories like clothing, electronics, and home goods, also sell cold-pressed oils. Online retail has developed into a significant cold-pressed oil distribution route with the expansion of e-commerce. Customers have easy access to a variety of cold-pressed oils from different brands thanks to websites like Amazon, Walmart, and Alibaba, making it simple for them to shop around and evaluate prices from the comfort of their homes.
Recent Development of the Cold-Pressed Oil Market
- In March 2021: Freshmill Oils, the top seller of cold-pressed oils in India, revealed plans to expand its product line by bringing in new oils like apricot oil and black seed oil.
- In October 2020: South African business Afrinatural Holdings revealed the introduction of a new line of cold-pressed oils in October 2020. These oils will be made from locally sourced ingredients like marula and baobab.
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Market Segmentation
Based on Product
- Coconut Oil
- Palm Oil
- Ground Nut Oil
- Rapeseed Oil
- Soybean Oil
- Sunflower Oil
- Olive Oil
- Peanut Oil
- Cottonseed Oil
Based on the Application
- Food Industry
- Agriculture
- Cosmetics and Personal Care Industry
Based on Distribution Channel
- Convenience Stores
- Departmental Stores
- Modern Trade Units
- Online Retail
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
The market for cold-pressed oil is extremely fragmented, with numerous small and medium-sized players working in various regions. There is no dominant company in terms of market share, but firms like Spectrum Organics, Freshmill Oils, and Adams Group have solid regional presences and are well-placed to profit from the increasing demand for cold-pressed oils.
Some of the major players include:
- Statfold Seed Oils Ltd
- Wilmar International Ltd
- Archer Daniels Midland Company (ADM)
- Bunge Limited
- Cargill Inc.
- China Agri-Industries Holdings Limited
- Naissance Natural Healthy Living
- Gramiyum Wood Pressed Oils
- The Healthy Home Economist
- FreshMill Oils
- Lala Jagdish Prasad & Company
- Multi-Technology
- Other Key Players
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