Apple Seed Oil Market Report 2024

The apple seed oil market size has grown strongly in recent years. It will grow from $4.27 billion in 2023 to $4.5 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth observed in the historic period can be attributed to several factors, including the global expansion of the cosmetics industry, rising consumer demand for natural and organic products, growing environmental awareness, and the diverse health benefits associated with these products.

The apple seed oil market size is expected to see strong growth in the next few years. It will grow to $5.57 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period is driven by several factors, including expansion within the personal goods industry, the widening of distribution channels, government incentives for medicinal applications, a growing global population, and rising disposable incomes. Key trends expected during this period include advancements in technology, innovations in cold-pressing techniques, technological developments in processing methods, advancements in solvent extraction techniques, and continuous innovations in product formulations.

The growth of the cosmetic industry is expected to fuel expansion in the apple seed oil market moving forward. This industry encompasses the production, distribution, and sale of beauty and personal care products, experiencing growth due to increasing consumer demand for skincare innovations, formulations, and expanded distribution networks. Apple seed oil is valued in cosmetics for its moisturizing, anti-aging, and hair-conditioning properties, enhancing formulations in skincare and hair care products. For example, in July 2022, the International Trade Administration reported that Canada's cosmetic market generated approximately $1.2 billion in revenue in 2021, projected to grow annually at a rate of 1.45% and reach an estimated $1.8 billion by 2024. Hence, the burgeoning cosmetic industry is a significant driver of growth in the apple seed oil market.

The burgeoning pharmaceutical industry is expected to drive growth in the apple seed oil market in the future. This sector of the healthcare industry focuses on researching, developing, manufacturing, and marketing drugs and medications for treating and preventing diseases. The pharmaceutical industry is expanding due to rising global healthcare needs, advancements in medical research, and increased investments in drug development. Apple seed oil is utilized in pharmaceutical applications for its antioxidant properties and potential health benefits, including anti-inflammatory and antimicrobial effects. For instance, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA) in June 2023, pharmaceutical production in Europe reached $384.2 billion (€340,000 million) in 2022, up by about 4.95% from €323.95 billion in 2021. Therefore, the growing pharmaceutical industry is a key driver of growth in the apple seed oil market.

In July 2023, IMCD N.V., a Netherlands-based manufacturer specializing in various chemicals and food ingredients, acquired O&3 Limited to enhance its presence in the beauty and personal care markets. This strategic acquisition allows IMCD to leverage O&3's extensive portfolio of specialty ingredients and its in-house application laboratory, which provides formulation and technical support to customers. O&3 Limited, based in the UK, is renowned for supplying high-quality natural oils and ingredients, including apple seed oils, across diverse applications.

Major companies operating in the apple seed oil market are Cyrus Enterprises, LHASA HERBS PRIVATE LIMITED, GREEN LEAF INDUSTRIES, Seatons, Parchem Fine & Specialty Chemicals, MORRE-TEC Industries Inc., Leven Rose, Aakash Enterprises, Katyani Exports, Au Natural Organics, Botanical Beauty, Natures Natural India, SHREE RADHEY ENTERPRISES, Mother Nature's Goodies, Mystic Moments, Medikonda Nutrients, Henry Lamotte Oils GmbH, Bioflore, Herboil Chem, Botanika Oils, essancia, The Soapery.

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.

The countries covered in the apple seed oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Apple seed oil is a cold-pressed extract derived from apple seeds, prized for its light texture and rich content of essential fatty acids, vitamins, and antioxidants. Widely utilized in skincare, it is renowned for its moisturizing and anti-aging properties, promoting smooth and healthy skin. Additionally, apple seed oil is valued in hair care for its ability to condition and strengthen hair strands.

There are two main types of apple seed oil, medical-grade and cosmetic-grade. Medical-grade apple seed oil undergoes rigorous purification and refinement to meet stringent quality and safety standards for medical and therapeutic applications. Apple seed oil products are distributed through various channels such as direct sales, indirect channels, supermarkets, specialty stores, modern grocery retail, and e-commerce platforms. End-users include personal care cosmetics, skincare, hair care, homecare products, and retail applications.

The apple seed oil market research report is one of a series of new reports that provides apple seed oil market statistics, including apple seed oil industry global market size, regional shares, competitors with an apple seed oil market share, detailed apple seed oil market segments, market trends and opportunities, and any further data you may need to thrive in the apple seed oil industry. This apple seed oil market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The apple seed oil market consists of sales of cosmetics and skincare products, hair care products, food products, pharmaceuticals, and home care products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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