Market Size of Global Apricot Oil Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Apricot Oil Market Analysis
The global apricot oil market is projected to grow at a CAGR of 4.8% during the forecast period (2020 - 2025). The market is driven by robust demand for organic health-based products, with increased consumption among health-conscious consumers of high-quality essential oils, which is entailed in various application areas. Apricot Kernel Oil is extensively used as a skin care product for revitalizing salve that soothes and prevents acne, inflammation, and dryness. It is also used under the eyes and is known to diminish the appearance of dark circles and puffiness. It has found popular use in culinary applications and is used both in sweet and savory dishes and drinks, including dried fruits, marmalade, preserves, fruit jellies, juices, and liqueurs. This oil has high levels of vitamin E and K, and is packed with a number of powerful antioxidants that adds to the health benefits of this oil. Customers are increasingly becoming aware of the benefits if the product, thus driving the growth of the market in the forecast period.
Apricot Oil Industry Segmentation
This report includes a complete analysis of the parent market, vital changes in market dynamics. The global apricot oil market segmented by applicationinto food and beverages, cosmetics, pharmaceuticals and other applications and by distribution channel into convenience store, internet sales, supermarket and other distribution channels. The market is also segmented by geographyinto North America, Europe, Asia-Pacific, South America, Middle East & Africa. Current and projected size of the market along with recent industry developments and strategies of key players are included.
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| Food and Beverages | |
| Cosmetics | |
| Pharmaceuticals | |
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| Convenience store | |
| Internet Sales | |
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Global Apricot Oil Market Size Summary
The apricot oil market is experiencing significant growth, driven by the increasing demand for organic and health-oriented products. This trend is particularly evident among consumers who prioritize high-quality essential oils for various applications. Apricot Kernel Oil is widely used in skincare for its soothing properties and ability to combat acne, inflammation, and dryness. Its culinary applications are also expanding, with uses in both sweet and savory dishes, thanks to its rich content of vitamins E and K and powerful antioxidants. The awareness of these benefits is propelling market growth, with Turkey being a major producer, particularly of Turkish apricot oil, which is highly regarded globally. The United States, Germany, and France are among the top importers of this oil, which is available through various retail outlets worldwide.
In the Asia-Pacific region, China and India lead in apricot oil consumption, despite high production levels, which results in greater import volumes. The historical use of apricots in traditional Chinese medicine contributes to the sustained popularity of apricot oil in this region. The global apricot oil market is characterized by fragmentation and competitiveness, with key players focusing on strategies such as product innovation, partnerships, expansions, and mergers and acquisitions. Prominent companies in the market include Greenwood Essential, Frontier Natural Products Co-op, NOW Foods, and Starwest Botanicals, all of which are contributing to the dynamic growth and development of the apricot oil industry.
Global Apricot Oil Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Food and Beverages
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2.1.2 Cosmetics
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2.1.3 Pharmaceuticals
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2.1.4 Other Applications
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2.2 Distribution Channel
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2.2.1 Convenience store
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2.2.2 Internet Sales
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2.2.3 Hypermarket/Supermarket
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2.2.4 Other Distribution Channels
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Rest of Asia Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest od South America
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2.3.5 Middle East and Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle East and Africa
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Global Apricot Oil Market Size FAQs
What is the current Global Apricot Oil Market size?
The Global Apricot Oil Market is projected to register a CAGR of 4.80% during the forecast period (2024-2029)
Who are the key players in Global Apricot Oil Market?
Greenwood Essencial, Forest Essentials, Now Foods, AMD Oil Sales LLC. and Frontier Natural Products Co-op are the major companies operating in the Global Apricot Oil Market.
