Global
Apricot Oil Market Introduction:
Apricot
oil is an odorless thin oil derived from the kernel or seed of the
Prunus Armeniaca. Also called apricot kernel oil as derived from
kernels, i.e outer coat of apricot fruit. Now, apricot oil is used in
various cosmetics and health supplements. It is majorly used in body
massage and aromatherapy. Thus, market demand from growing massage
centers and aromatherapy centers is higher.
Global
Apricot Oil Market Segmentation:
The
global
apricot oil market is segmented on the basis of application,
end-user, distribution channel, and region. Based on application, the
global apricot oil market segmented as vitamins & supplements,
massage oil, and cooking oils. Among which, massage oil segment is
expected to contribute for major revenue share and expected to expand
at a significant CAGR in the global apricot oil market over the
forecast period, attributed to advantages of apricot oil by the
topical application including moisturizing, nourishing, and
lubricating properties. Vitamins & supplements segment is
followed by body & massage oil segment in the global apricot oil
market, attributed to the high demand of apricot oil in
nutraceuticals. Based on end-user, the global apricot oil market is
fragmented as industries, food services, and consumers. Among
end-user market segments, industries segment contribute for
relatively high-value share, whereas, consumers segment is expected
to have a substantial growth rate in the apricot oil market, owing to
increasing health consciousness of consumers across the globe.
Industries segment is fragmented as pharmaceuticals, food and
beverages, and cosmetics. Based on distribution channel, the global
apricot oil market segmented as wholesalers, online retail,
supermarkets/hypermarkets, and specialty stores. Among which, the
wholesale segment is expected to contribute for major revenue share
whereas retail segment is expected to expand at a significant CAGR in
the global apricot oil market over the forecast period. Moreover,
retail segment is sub-segmented into in-store and online.
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Global
Apricot Oil Market Regional Outlook:
Geographically,
the global apricot oil market can be segmented into major regions
which include North America, Latin America, Europe, Asia-Pacific, and
the Middle East & Africa. Among the regional market, North
America accounts for the substantial revenue share in the global
apricot oil market, owing to high health consciousness among
consumers across the region. Europe is followed by North America in
the global apricot oil market with significant value share.
Asia-Pacific is expected to expand at a relatively high growth rate
in the apricot oil market, attributed rapidly growing population,
increasing demand for aromatherapy and healthy oil options. The
Middle East and Africa is expected to contribute for relatively low
revenue share in global apricot oil market whereas, the region is
expected to register substantial CAGR over the forecast period.
Overall, the outlook for the global apricot oil market will have a
positive growth over the forecast period.
Global
Apricot Oil Market Dynamics:
The
global apricot oil market growth is driven by increasing demand for
cosmetic, pharmaceutical, aromatherapy, and food industry.
Macroeconomic factors such as increasing per capita income, changing
lifestyle, growing economy, and rapid rate of urbanization are
factors expected to fuel the growth of global apricot oil market.
Moreover, growing supplement market also fueling the global apricot
oil market growth. Some of the factors trending the global apricot
oil market include mergers & acquisitions between the apricot oil
suppliers and end-use industries and high investment in the food,
cosmetics, and pharmaceutical industry. The market players operating
in the apricot oil market have a significantly high opportunity in
Asia-Pacific attributed to the significantly growing economy and
population across the regions.
Global
Apricot Oil Market Player:
Few
key players in the global apricot oil market includes Life-flo,
Frontier Natural Products Co-op., Starwest Botanicals, Shea Moisture,
Pre de Provence, Plantlife, Physicians Formula, Organix, NOW Foods,
Natures Bounty, Nature's Alchemy, MyChelle, Lotus Touch, Larenim
Ltd., Josie Maran cosmetics, Hobe Laboratories Inc., Fit & Fresh,
Deep Steep, and Aura Cacia etc.
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