SWEET ALMOND OIL MARKET ANALYSIS
Market Dynamics
Sweet almond oil has wide range of medical applications such as laxative and as a vaccine additives. Furthermore, it is also used in moisturizers, soaps, shampoos, shaving creams, and bath oils, in the cosmetics and personal care industry. According to Cosmetic Europe, cosmetics and personal care industry in Europe was valued at US$ 94.13 billion in 2015 with Germany (US$ 15.89 billion) positioned as the largest market, followed by the U.K. (US$ 14.06 billion), France (US$ 13.94 billion), and Italy (US$ 12.10 billion), respectively. This is expected to be a major factor for growth of the market. However, high cost of sweet almond oil is restraining factor for the growth of market.
Furthermore, manufacturers are developing new products, with more nutritive benefits, in order to cater to increasing consumer needs. For instance, Aura Cacia launched a unique line of skin care oils, in 2015 as 'Sweet Almond + Fruit Seeds Oil', which combines nutritive benefits of cherry seeds, raspberry, blueberry, and sweet almond oil for skin.
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