Growing health consciousness among consumers regarding healthy cooking oil have fuelled the demand for nut oil. Nut oil is a liquefied substance that is extracted from the kernels of various nuts, such as almonds, hazelnuts, argans, etc. Nut oil is generally aromatic in nature as compared to traditional seed extracted oils, which has been driving the demand in recent years. In food processing industries, nut oil is used as a food additive for providing exotic nut flavors in salads, veggie mixes, and breakfast grains.
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Since nut oil is generally cold pressed rather than distilled, it is highly aromatic and soothing in nature. Nut oil also consists of therapeutic properties such as antiseptic, carminative, cephalic, and others. It helps in promoting healthy heart functioning, oral health, and preventing occasional stomach upsets. Nut oil stimulates and improves respiratory circulation and immunity, and provides antioxidant protection. Since nut oil contains a higher concentration of omega-7 monounsaturated fat, it nourishes the hair and skin follicles naturally, which has contributed to its demand in cosmetic care products. Bound to these factors, the global nut oil market is anticipated to proliferate in terms of value and volume during the forecast period.
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Materializing Demand for Nut Oil
Nut oil is not only utilized in food processing industries but also has wider application in natural and organic cosmetics. There has been huge demand for processed nut oil in natural cosmetics over the years, due to changing consumer preferences favoring chemical-free ingredients. Due to the presence of a high concentration of vitamins and antioxidants, nut oil is used as a cleanser, skin toner, moisturizer, and body wash.
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Since nut oil has aromatic properties, it is also used in aromatherapy, which has high demand for massages, from spas, and from other hospitality sectors. In cosmetics, nut oil is used for skin care by moisturizing dry skin, for mature skin conditions and as a modifier, as a blender and fixative in cleansers, soaps, and other personal care goods. In addition, nut oil is used in perfumeries, since it has an exotic scent that attracts consumers. Bound to the growing consumption of nut oil in various sectors and regions, it is anticipated that, the global nut oil market would proliferate in terms of value and volume during the forecast period.
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Global Nut Oil Market: Segmentation
On the basis of product type, the global nut oil market has been segmented as:
- Hazelnut Oil
- Almond Oil
- Argan Oil
- Macadamia Oil
- Marula Oil
- Mongongo Oil
- Pecan Oil
- Pistachio Oil
- Pine Nut Oil
- Walnut Oil
On the basis of end use, the global nut oil market has been segmented as:
- Food Processing
- Cosmetics & Personal Care
- Paints & Varnishes
On the basis of nature, the global nut oil market has been segmented as-
On the basis of distribution, the global nut oil market has been segmented as-
- Store-Based Retailing
- Grocery Retailers
- Non-grocery Retailers
- Mixed Retailers
- Other Non-grocery Retailers
- Online Retailing
- Store-Based Retailing
Global Nut Oil Market: Key Players
Some of the major key players of nut oil include Biofinest, Natural Sourcing LLC, Liberty Vegetable Oil, Proteco Oils, Austrade Inc., Oils of Aloha, Caloy, AFRUSE, SanaBio GmbH, Shrih Trading Co Pvt Ltd, etc. More manufacturers and industrialists have been showing keen interest in nut oil due to inflating demand among consumers over the years.
Opportunities for Market Participants
As a natural cosmetic ingredient and food additive, nut oil has emerging demand among manufacturers and consumers all over the world. In addition, it has numerous health benefits, which are driving its demand. It is anticipated that there would be higher returns for the investors of nut oil during the forecast period.
Global Nut Oil Market: Regional Outlook
Nut oil is widely used across the world due to its adequate industrial application. Globally, among all the regions, Europe accounts for the highest consumption of nut oil, due to the growing consumer preference for organic cosmetics and aromatherapy. In the region of North America, nut oil is highly used in personal care products, due to growing concerns about healthy lifestyles among consumers. In the Asia Pacific, the increasing demand for fragrances and perfumeries, along with agglomerating demand for food additives in food processing industries, has contributed to the growth of the nut oil market. In Latin America and MEA, nut oil is used for chemical processing such as paints and varnishes, along with abundant utilization in households. Bound to all the above factors, it is anticipated that, the growth of the global nut oil market would remain positive during the forecast period.