What Is The Definition Of The Global Apple Seed Oil Market?
Apple seed oil is a cold-pressed oil extracted from the seeds of apples, known for its light texture and high content of essential fatty acids, vitamins, and antioxidants. It is used in skincare products for its moisturizing and anti-aging properties, promoting smooth and healthy skin. Apple seed oil is also valued for its potential benefits in hair care, aiding in conditioning and strengthening hair strands.
Apple Seed Oil Global Market Report 2024 provides data on the global apple seed oil market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The apple seed oil market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Projections Exist For The Global Apple Seed Oil Market Size And Annual Growth Rates?
The apple seed oil market has shown robust growth, increasing from $4.27 billion in 2023 to $4.50 billion in 2024 at a CAGR of 5.4%. This growth has been supported by the expanding global cosmetics industry, rising demand for natural and organic products, growing environmental consciousness, and the diverse health benefits of apple seed oil. The market is forecasted to reach $5.57 billion by 2028, with a CAGR of 5.5%. Future growth drivers include the expansion of the personal goods industry, government incentives for medicinal applications, growing distribution channels, a vast population base, and higher disposable income levels. Emerging trends include advancements in extraction and processing methods, such as cold-pressing and solvent extraction, as well as innovations in product formulations.
Which Key Drivers Are Propelling The Apple Seed Oil Market's Growth?
The expanding cosmetics industry is expected to boost the apple seed oil market. This sector, which involves the production, distribution, and sale of beauty and personal care products, has been growing due to rising consumer demand for skincare products, innovative formulations, and the expansion of distribution channels. Apple seed oil is used in cosmetics for its moisturizing, anti-aging, and hair-conditioning properties, making it a valuable ingredient in skincare and hair care formulations. For instance, the International Trade Administration reported that Canada's cosmetic market generated approximately $1.2 billion in 2021, with a projected annual growth rate of 1.45%, reaching $1.8 billion by 2024. Thus, the growth of the cosmetics industry is driving the apple seed oil market.
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What Are The Key Segments Within The Global Apple Seed Oil Market?
The apple seed oil market covered in this report is segmented –
1) By Type: Medical Grade, Cosmetics Grade
2) By Distribution Channel: Direct Channel, Indirect Channel, Supermarket Or Hypermarket, Specialty Stores, Modern Grocery Retail Stores, E-Retail
3) By End-Use: Personal Care Cosmetics, Skincare, Hair Care, Cosmeceuticals, Homecare Products, Household Or Retail
IMCD N.V. Acquires O&3 Limited To Expand Presence In Beauty And Personal Care Markets
In July 2023, IMCD N.V., a Netherlands-based manufacturer of a variety of chemicals and food ingredients, acquired O&3 Limited for an undisclosed amount. With this acquisition, IMCD aims to drive growth in the beauty and personal care markets by leveraging O-3's extensive portfolio of specialty ingredients and in-house application laboratory, which provides formulation and technical support to customers. O&3 Limited is a UK-based company that provides high-quality, natural oils and ingredients for a wide range of applications and offers apple seed oils.
Which Region Drives The Highest Growth In The Apple Seed Oil Market?
North America was the largest region in the apple seed oil market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the apple seed oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
