Almond oil market seen tripling by 2031

The global almond oil market is projected to rise from $1.45 billion in 2020 to $5.58 billion by 2031, growing at a 13.0% CAGR from 2022 to 2031. Demand is being driven by natural and organic personal care products, aromatherapy and broader pharmaceutical use, while high prices remain a restraint.

Why it matters: - The almond oil market is moving from niche ingredient to broader use across cosmetics, aromatherapy, food preparation and pharmaceuticals. - Growth in natural and organic product demand is expanding opportunities for manufacturers and distributors. - The forecast points to a market that could more than triple by 2031, signaling stronger competition for supply and shelf space.

What happened: - Allied Market Research said the global almond oil market generated $1.45 billion in 2020. - The market is expected to reach $5.58 billion by 2031. - The report forecasts a 13.0% CAGR from 2022 to 2031. - The study covers almond oil by type, application, distribution channel and region. - The report is available through the company’s sample request page, and purchase and inquiry links were also provided.

The details: - Almond oil is extracted from kernels of the Prunus Dulcis tree using a cold-pressed method. - The oil contains vitamins E, B and A, minerals, proteins and omega fatty acids. - The report says those properties support use as an essential oil and carrier oil. - Cosmetic makers use almond oil in face creams, body lotions and hair oils for moisturizing and cleansing. - The market is split into sweet almond oil and bitter almond oil. - Applications include food preparation, cosmetic, pharmaceutical and other uses. - Distribution channels include hypermarkets and supermarkets, food specialty stores, pharmacies, cosmetic discounters and others. - Regions covered include North America, Europe, Asia-Pacific and LAMEA. - North America held the largest share in 2020, at around one-third of the global market. - North America is expected to keep the top revenue position by 2031. - LAMEA is projected to post the fastest CAGR, at 13.4%. - The report links North America’s lead to numerous manufacturers, progressive consumer lifestyles and support for natural ingredients over synthetic substitutes. - The report ties LAMEA’s faster growth to demand from natural ingredient-based products and from the medical and spa and relaxation sectors. - Leading market players listed include AOS Products Private Limited, Ashwin Fine Chemicals & Pharmaceuticals, Blue Diamond Growers, Caloy Quality Natural Oils, Eden Botanicals, Jiangxi Baicao Pharmaceutical, Jiangxi Xuesong Natural Medicinal Oil, Liberty Vegetable Oil Company, Mountain Ocean, NOW Foods and Proteco Oils.

Between the lines: - The market’s growth story is less about almond oil alone and more about the broader shift toward natural ingredients in consumer and wellness products. - High prices, especially for bitter almond oil, remain the main drag on wider adoption. - Supportive regulations and rising demand in emerging economies such as India and China could give the market extra lift.

What's next: - The report expects demand to keep rising as personal care brands and pharmaceutical users expand natural-ingredient sourcing. - Emerging-market adoption and government support for natural formulations may widen the market’s addressable base. - Competition is likely to intensify among established oil suppliers, natural ingredient specialists and consumer brands.