Walnut Oil Market Expected to Reach $1718.8 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Walnut Oil Market," The walnut oil market size was valued at $925.4 million in 2022, and is estimated to reach $1718.8 million by 2032, growing at a CAGR of 6.6% from 2023 to 2032.

The most common walnut oil species is Juglans regia, often known as English walnut or walnut. Walnut oil is extracted using either a solvent extraction method or a cold pressing method. This oil has a high concentration of Omega 3 essential fatty acids, making it suitable for skin care. Walnut contains minerals such as iron, sodium, selenium, zinc, calcium, magnesium, and phosphorus. The oil is believed to have powerful emollient properties, leaving the skin smooth and soft.

The increasing usage of walnut oil as a dietary supplement has raised awareness regarding its health advantages. Walnut oil is becoming more popular as a source of critical elements such as antioxidants and vitamins. It is considered as a dietary supplement due to its ability to promote heart health, cognitive function, and general well-being. The walnut oil can be simply integrated into a variety of culinary applications, improving both flavor and nutrient content. Walnut oil emerges as an easy and beneficial supplement, as people increasingly obtain natural options to enhance their health. This trend aligns with a larger movement towards proactive wellness, where individuals actively choose preventive measures and holistic approaches to maintain and improve their overall well-being. Its nutritional richness positions walnut oil as a versatile choice for those aiming to augment their diet with a natural and wholesome source of key nutrients. All these factors are anticipated to drive the walnut oil market growth during the forecast period.

The high processing cost of walnut oil poses a potential hindrance to market growth. The intricate process involves manual harvesting, careful drying, and specialized packaging to maintain the oil's delicate texture and freshness. These labor-intensive and resource-demanding steps contribute to higher production expenses. The additional costs associated with processing may impact the profit margins of producers and market players, potentially impeding the overall growth of the walnut oil market as consumers may search for more cost-effective alternatives in the face of these processing-related challenges.

The rising awareness regarding the health benefits of walnut oil is poised to create considerable growth opportunities in the market. As consumers become more health-conscious, the dietary richness of walnut oil, encompassing omega-3 fatty acids and antioxidants, has gained attention. Walnut oil is valued for its potential to promote heart health and overall well-being, positioning it as a sought-after choice in the market. Its recognition reduced from its perceived benefits, making it a desirable option for those prioritizing cardiovascular health and overall wellness. This increased awareness is anticipated to lead to an increase in demand across several sectors, such as culinary and beauty applications. Producers and marketers can benefit by the growing health consciousness trend, presenting a appropriate opportunity to promote walnut oil as a natural and beneficial choice. It caters to individuals seeking nutritious options not only in their dietary preferences but also in their personal care routines. These factors are anticipated to boost the walnut oil market opportunities expansion in the upcoming years.

The walnut oil market share is segmented based on grade, application, distribution channel, and region. By grade, it is classified into food grade, cosmetic grade, and pharma grade. By application, it is divided into food & beverage, cosmetics, pharmaceuticals, aromatherapy, and others. By distribution channel, it is classified into online retail, supermarkets/hypermarkets, and specialty stores. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the walnut oil market analysis report include KUNHUA BIOLOGICAL TECHNOLOGY CO., LTD, Ji'An ZhongXiang Natural Plants Co.,Ltd., AOS Products Pvt. Ltd., Chinaplantoil, VedaOils, Plenty Foods, AG Industries, SVA Organics, O&3 Limited, and Roland Foods, LLC

The report offers a comprehensive analysis of the global walnut oil market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights on the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the walnut oil market forecast period.

Impact of COVID-19 on the Global Walnut Oil Industry

• The walnut oil market experienced fluctuations due to the COVID-19 pandemic. Disruptions in supply chains and economic uncertainties affected consumer spending as well. However, the market demonstrated resilience, adapting to changing consumer preferences and gradually recovering as the situation stabilized.
• Post-COVID-19, the walnut oil market experienced a demand as health-conscious consumers prioritized natural and nutritious choices. The pandemic has led to an increase in awareness regarding holistic well-being, propelling walnut oil's popularity.
• The shift towards preventive health measures and the growing preference for organic products further contribute to the post-pandemic rebound, positioning walnut oil as a key player in the evolving landscape of wellness-oriented consumer choices.

Key Findings of the Study

• Based on grade, the pharma grade sub-segment emerged as the global leader in 2022 and the cosmetic grade sub-segment is anticipated to be the fastest growing during the forecast period.
• Based on application, the pharmaceuticals sub-segment emerged as the global leader in 2022 and the cosmetics sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on distribution channel, the online retail sub-segment emerged as the global leader in 2022 and is predicted to show the fastest growth in the upcoming years.
• Based on region, the Asia-Pacific market registered the highest market share in 2022 and is predicted to show the fastest growth in the upcoming years.