Market Outlook
Nut oils are a vital ingredient in the cooking process and used mainly for seasoning and flavoring. They contain higher volume of oil as compared to seed oil. They are normally extracted through screw pressing and hydraulic pressing processes. Nuts oils are also known as virgin oil, cold-pressed oils, and cold-drawn oils. Market Research Future (MRFR) has outlined numerous trends and Nut Oil Market is expected to grow at an 8.65% CAGR and reach USD 205.185 Billion by 2030.
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Market Drivers and Challenges
The global nut oils market is slated to display a notable CAGR from 2022 to 2030 (forecast period) due to the high nutritious content and unique flavor offered by it. It can command a significant demand due to its phytosterols and oleic acid content. The emerging trend of veganism and the consumption towards plant-based foods are factors likely to induce high market demand of nut oils. Health benefits offered by nut oils such as omega-3, antioxidants, and monounsaturated fats are expected to bode well for the global market.
The wave of health-consciousness and inclination towards healthy cooking can attract consumers towards nut oils. Furthermore, the use of these oils in the cosmetic industry due to its emollient nature can augur favorably for its demand.
Segmentation
The global nut oils market is segmented by nut type, packaging type, and distribution channel.
The global nut oils market has been classified, based on nut type, as almond, walnut, hazelnut, pine, pistachio, macadamia, and others. The almond segment is likely to dominate the market standings in the type segment till 2023. This can be attributed to its high protein content in skin and hair treatment products. On the flip side, the macadamia nut oils segment can demonstrate a remarkable growth rate during the forecast timespan owing to content of oleic acid and 80% monounsaturated fats which can reduce cholesterol levels.
On the basis of packaging type, the global nut oils market has been divided into jars, bottles, pouches, and others. Bottles can dominate the market during the forecast timespan due to these containers being reusable and cost-effective in nature. Pouches are estimated to display a high growth rate over the forecast period due to its recyclable nature. The material in the inner lining can ensure the freshness of the content and extend the shelf-life of the product by a considerable amount.
The global nut oils market has been segregated, on the basis of distribution channel, into store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, convenience stores, and others. The store-based segment is the reputable distribution channel due to retail chains having a vast network which allows maximum customers to gain access to latest products. However, the non-store-based segment can gain the market share over the forecast period due to proliferation of ecommerce stores and inclination of consumers in shopping online due to convenience.
Regional Analysis
Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW) are the regions discussed with respect to the market report.
Europe is expected to be the leading region of the market due to the purchase of these oils in cooking and seasoning. The preparation of salads and local cuisines which call for nut oils in its preparation as well as the changing dietary patterns can bode well for the regional nut oils market demand.
The APAC region can register a significant growth rate during the forecast period due to benefits of bone and heart health and weight management. High consumption in Australia, India, and China can ensure a steady stream of dividends for the market in the region.
Competition Outlook
Selina Naturally, Roland Foods, LLC, Nutfields GmbH, Azada, Denova Products, Caloy, Inc., Mokhado, La Tourangelle, Inc., World Finer Foods, Vita Line Ltd, and others are noteworthy participants of the global nut oils market.
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Industry News
Rahua Elixir contains nut oil harvested from natural ingredients of the Amazon region and targeted for women with dry hair to keep their hair lustrous and thick.
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