Nut oils are utilized in a variety of applications, including skin care, hair care, and food. Organic and conventional nut oil are available, with organic being chosen depending on the product to be created. The main advantage of nut oil is that it gives a high-quality product, which increases the reliability of the items in use. Peanut oil can be processed to produce glycerol, a component used to make the explosive liquid nitroglycerine, which is a key ingredient in dynamite. Vitamin E is a fat-soluble vitamin that acts as an antioxidant. Antioxidants help protect the body from harmful substances called free radicals. Free radicals can damage cells and lead to health problems such as heart disease, cancer, and Alzheimer's disease.
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Data Bridge Market Research analyses that the Nut Oil Market was valued at USD 7.07 billion in 2020 and is expected to reach the value of USD 13.09 billion by 2028, at a CAGR of 8.00% during the forecast period of 2021-2028. Growing food and cosmetic sector demand, as well as increased knowledge of the health advantages of nut oil, are important factors driving the growth of the nut oil market. With optimal product utilization, an increase in the usage of peanut oil by-products in food manufacture will lessen the issue of disposal of peanut by-products. The utilization of by-products will now drive the market's expansion. Increased vegan population in countries will provide a significant potential for the expansion of the nut oil market.
Growing number of technological advancements to provide healthy food is expected to drive the market's growth rate
There are a number of technological advancements that are taking place in the food and beverage industry, and these are also expected to drive the growth of the global nut oil market. For example, the development of new extraction techniques is expected to make it possible to extract more oil from nuts, which will lead to an increase in the supply of nut oils and a decrease in the prices. Nut oils are a good source of monounsaturated fats, which are known to be beneficial for heart health. This has led to an increase in the demand for nut oils, especially in developed countries where there is a high prevalence of obesity and cardiovascular diseases.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013- 2018)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Category (Organic and Conventional), Product Type (Almond Oil, Brazil Nut Oil, Cashews Oil, Chestnuts Oil, Filberts Oil, Hazelnut Oil, Hickory Nuts Oil, Macadamia Oil, Pecan Oil, Pine Nut Oil, Pistachio Oil, Walnut Oil, Peanut Oil, Argan Oil, Marula Oil, Mongongo Oil and Others), End Use (Food Processing Industries, Personal Care & Cosmetic Industries, Direct Consumption, Aromatherapy, Paints & Varnishes and Others), Distribution Channel (Direct and Indirect)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
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Market Players Covered
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FUJI OIL CO., LTD. (Japan), Henry Lamotte Oils GmbH (Germany), Gustav Heess Oleochemische Erzeugnisse GmbH (Germany), Natural Oils International Inc. (U.S.), Granary Oil Company (U.K.), Carapelli Firenze SpA (Italy), Cargill, Incorporated (U.S.), Ventura Foods (U.S.), Mazola (U.S.), Sanabio Gmbh (Germany), Proteco (Italy), Natural Sourcing, LLC (U.S.), Austrade Inc. (U.S.), Caloy Company, L.P. (U.S.), Wilmar International Ltd (Singapore), Fairtrade International (Germany), OLVEA (France), ADM (U.S.), Bunge Limited (U.S.), and Richardson International Limited (Canada)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
The nut oil market is categorized into four notable segments which are category, product type, end use and distribution channel.
- On the basis of category, the nut oil market is segmented into organic and conventional. Conventional is expected to dominate the market and is expected to reach USD 105,514.53 million in 2030 because the cost of manufacturing associated with conventional techniques is less.
- On the basis of product type, the nut oil market is segmented into almond oil, Brazil nut oil, cashews oil, chestnuts oil, filberts oil, hazelnut oil, hickory nuts oil, macadamia oil, pecan oil, pine nut oil, pistachio oil, walnut oil, peanut oil, argan oil, marula oil, mongongo oil and others. Almond oil is expected to dominate the market and is expected to USD 47,541.09 million in 2030 because of the rise in production of almond oil across many regions of the world such as China, USA, Kenya, Brazil, Malawi, New Zealand and others.
- On the basis of end use, the nut oil market is segmented into food processing industries, personal care & cosmetic industries, direct consumption, aromatherapy, paints & varnishes and others. Food processing industries is expected to dominate the market and is expected to reach USD 69,372.63 million in 2030 because of the rise in demand of variety of foods that are healthy as well as provide good taste and flavour.
The food processing industries segment will dominate the end use segment of the nut oil market
The food processing industries segment will emerge as the dominating segment end use segment. This is because of the growing number of food processing industries in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
- On the basis of distribution channel, the nut oil market is segmented into direct and indirect. Indirect is expected to dominate the market and is expected to reach USD 107,649.00 million in 2030 because of easy availability of products through indirect distribution channel.
The B2B/direct sales segment will dominate the distribution channel segment of the nut oil market
The B2B/direct sales segment will emerge as the dominating segment under distribution channel. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the food and beverages industry all around the globe will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: FUJI OIL CO., LTD. (Japan), Henry Lamotte Oils GmbH (Germany), Gustav Heess Oleochemische Erzeugnisse GmbH (Germany), Natural Oils International Inc. (U.S.), Granary Oil Company (U.K.), Carapelli Firenze SpA (Italy), Cargill, Incorporated (U.S.), Ventura Foods (U.S.), Mazola (U.S.), Sanabio Gmbh (Germany), Proteco (Italy), Natural Sourcing, LLC (U.S.), Austrade Inc. (U.S.), Caloy Company, L.P. (U.S.), Wilmar International Ltd (Singapore), Fairtrade International (Germany), OLVEA (France), ADM (U.S.), Bunge Limited (U.S.), and Richardson International Limited (Canada).
Market Development
- In 2022, Shree Ram Proteins Ltd broadened its business and announced plans to build a new oil refinery in March. For the new business segment, the corporation ordered a cutting-edge refining plant. By the end of January 2023, the company plans to introduce rapeseed oil, groundnut oil, and cottonseed oil. It is classified as refined edible oil and will serve the company's home market. As a result of diversification, the company's business is expanding.
- In 2022, Chemsta built a 200 TPD edible oil refinery for the Luhua Group (Xiangyang Branch) in November 2022. It was turned on and shortly began generating high-quality rapeseed and peanut oils. According to the group, Chemsta has built more than ten plants for rapeseed and peanut oil (including pressing, solvent extraction, refining, dewaxing, and so on).
- In 2021, Cargill Incorporated purchased and improved an edible oil refinery in Nellore, India, for USD 35 million in November, increasing edible oil production volume and allowing the company to extend its existing supply chain to meet consumer demands.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the nut oil market during the forecast period 2021-2028
The Asia-Pacific region dominates the nut oil market and will maintain its dominance throughout the forecast period due to advancements in nut oil manufacturing and extraction technology. China is leading the Asia-Pacific market in terms of increasing demand for nut oil in the food industry and raising knowledge about the health advantages.
North America is estimated to be the fastest growing region in the nut oil market in the forecast period 2021-2028
North America is projected to witness highest growth rate during the forecast period. Given the expanding usage of nut oil in the food and beverage industries, the United States is regarded the dominant region in North America.
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