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Allied Market Research

Apricot Oil Market Application (Residential, Commercial) Industry Vertical (Food & Beverage, Pharmaceutical, Cosmetics, Healthcare, Others) Distribution Channel (Online, Offline) : Global Opportunity Analysis and Industry Forecast, 2020-2027

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Jun 2021 | 572 Views
 
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Apricot is a fruit belonging to family Rosaceae and subfamily Prunoidea generally considered as stone fruit. They are rich in beta-carotene, fibers, vitamin C, antioxidants, and many other nutrients. Turkey is the foremost producer of apricot in the world. It is a type of fruit that is highly consumed either as fresh fruit or in the form of the dried canned product. Several products are manufactured from apricots such as jam, syrup, apricot kernels, apricot oil, and dried apricots. As the technology has advanced the extraction of essential oil from the kernel (40-50% oil) and seed cake of apricot fruit has increased. Apricot kernel refined oil is used as a constituent of cosmetic products such as creams, body lotions, moisturizers, face packs, hair oil, shampoo, balms, soap, and others. The medicinal properties of the apricot kernel have also expanded its use for treating certain medical conditions.

Market scope and structure analysis:

                Report Metric

                                                 Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value ($US)

  Segments covered

  Application, Industry Vertical, Distribution Channel, and Region

  Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

  Companies covered

Greenwood Essential, Now Foods, Frontier Natural Products Co., Aura Cacia, Life-Flo, Now Foods, Nature’s Alchemy, Starwest Botanicals, Physicians Formula, Hobe Labs, AMD Oil Sales, Forest Essentials, Deep Steep, Shea Moisture, Organix.

 

COVID-19 Scenario Analysis: 

  • The COVID-19 pandemic has impacted the procurement of apricot fruits from other countries due to the export and import ban. The procurement of the apricot fruit has slowdown due to government regulations.
  • The production and extraction of apricot oil are affected due to the shortage of manpower in several plants due to the lockdown scenario.
  • The supply chain has been disrupted due to the shortage of supply of apricot oil to the various sectors reliable on apricot oil as an ingredient. 
  • The distribution channels such as supermarkets and retail stores had to shut down due to the social distancing norms thereby, affecting the sales and revenue of the apricot oil market.
  • The post COVID-19 scenario is anticipated beneficial for the apricot oil market due to its high nutritional properties. Apricot kernel is used as one of the ingredients for the traditional treatment of the coronavirus in China. 

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Apricot oil is commercially manufactured in recent times and is widely used in various sectors as a raw ingredient for several products. The oil is cold-pressed from the seeds of the fruit which preserves the nutrient content and quality of the apricot oil. The use of apricot oil has widened in cosmetics, food & beverages, and the pharmaceutical industry. The increase in awareness about the health benefits of apricot, advancement in the extraction process of apricot oil, high nutritional value and medicinal properties, use of apricot oil in various cosmetics, production of food-grade apricot oil, use of healthy oil for culinary purpose, advantages of oil for nourishing skin and hair, increased consciousness for healthy skin, the surge of organic and plant-based cosmetics, investment in R&D, high disposable income, a faster rate of absorption, extensive use as a massage oil, and value addition are the key drivers that lead toward the growth of the global apricot oil market. However, the availability of substitute oil such as almond oil, the high price of the end product, side effects of the oil, traditional processing practices, regulatory hurdles, and increased competition hinders the market growth.

The global apricot oil market trends are as follows:

Apricot oil in various industries 

Apricot kernel consists of protein, carbohydrates, crude fiber, dietary fiber, saturated and unsaturated fatty acids, oleic acid, linolenic acid, palmitic acid, stearic acid, arachidic acid, and others which makes it highly beneficial and the oil extracted from it is widely used. Apricot oil is a rich source of vitamin E, vitamin K, antioxidants, oleic acids, linolenic acids, histidine, lysine, phenylalanine, valine, leucine, crystine, tryptophanmethionine, and others thereby exhibiting properties such as anti-tussive, anti-pyretic, anti-inflammatory, anti-bacterial, anti-septic, revitalizing, anti-aging, and others. It is used for the treatment of several conditions such as asthma, cough, eye inflammation, joint stiffness, infertility, blood clotting, constipation, sore skin, eczema, and other infections.

Apricot oil is generally natural vegetable oil which has a light yellow or golden color, light texture, high stability, and odorless. The emollient properties of the oil make it useful and widely consumed as skin and hair care products, for maintaining softness, nourishment, reduce aging and wrinkles, cure acne-prone skin, moisture retention, cleansing of skin and hair, and others. The apricot oil is also used as a natural flavor in various food products such as sauce, cooking oil, bakery and confectionary, and others. In addition, the oil is used as a flavor in tobacco, adhesives, fuel additives, and varnishes.     

Key Segments Covered:

                 Segments

                                  Sub-segments

  Application

  • Residential
  • Commercial

  Industry Vertical

  • Food & Beverage
  • Pharmaceutical
  • Cosmetics
  • Healthcare
  • Others

  Distribution Channel

  • Online
  • Offline

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the global apricot oil industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global apricot oil market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global apricot oil market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides detailed global apricot oil market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Apricot Oil Market Research Report:

  • What are the leading market players active in the apricot oil market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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