SWEET ALMOND OIL MARKET ANALYSIS

Regional Analysis

Market Outlook

North America is projected to exhibit a significant growth in global sweet almond oil market in 2017. This is attributed to increasing demand for sweet almond oil, due to its high nutritional value and various health benefits, resulting in increasing demand from pharmaceutical, food and cosmetic industries in this region. According to U.S. International Trade Administration (ITA), the export of personal care and cosmetic industry in the U.S. was valued at US$ 10.4 billion in 2015 and increased at an average rate of 15% over (2012–2015). However, increasing cost of almonds may have a negative impact on the growth of this market. According to Bureau of Labor Statistics (BLS), in the U.S., the price of almond increased from US$ 2.58 per pound to US$ 4.00 per pound from 2012 to 2014 respectively and is significantly increasing.

Asia Pacific is projected to witness significant growth in the global sweet almond oil market over the forecast period, owing to its increasing application such as cooking and frying, results in increasing food processing industry in the region. According to the India Brand Equity Foundation (IBEF), in 2016, the food processing industry in India was ranked fifth in terms of consumption, production, and exports, and increased at a CAGR of 11.74 % during 2011–2016.