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.
Sizing and Forecast
The apple seed oil market size has grown strongly in recent years. It will grow from $4.27 billion in 2023 to $4.50 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to the expansion of global cosmetics, growing demand for natural and organic products, increasing environmental concerns, and diversified health benefits.
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 growth in the forecast period can be attributed to the personal goods industry, the expansion of distribution channels, government incentives for medicinal purposes, a vast population, and increasing disposable income. Major trends in the forecast period include advancements in technology, cold-pressing techniques, technological development in processing methods, solvent extraction techniques, and ongoing innovations in product formulations.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
The growing cosmetic industry is expected to propel the growth of the apple seed oil market going forward. The cosmetic industry is a business involved in the production, distribution, and sale of beauty and personal care products. The cosmetic industry is experiencing growth due to factors such as increasing consumer demand for skincare products, innovation in formulations, and expanding distribution channels. Apple seed oil is utilized in the cosmetic industry for its moisturizing, anti-aging, and hair-conditioning properties, enhancing formulations for skincare and hair care products. For instance, in July 2022, according to the International Trade Administration, a US-based government agency, the cosmetic market in Canada achieved revenue of around $1.2 billion in 2021. It is anticipated to experience an annual growth rate of 1.45%, with projections estimated to reach $1.8 billion by the year 2024. The growing cosmetic industry is driving the growth of the apple seed oil market.
<h4 class=reporthtag>Growing Pharmaceutical Industry Drives Apple Seed Oil Market Growth</h4>
The growing pharmaceutical industry is expected to propel the growth of the apple seed oil market going forward. The pharmaceutical industry is a sector of the healthcare industry that researches, develops, produces, and markets drugs and medications for the prevention, diagnosis, treatment, and cure of diseases and medical conditions. The pharmaceutical industry is expanding due to increasing global healthcare demands, advancements in medical research, and growing investment in drug development. Apple seed oil is used in the pharmaceutical industry for its antioxidant properties and potential health benefits, including anti-inflammatory and antimicrobial effects. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $384,200 million (€340,000 million) in 2022, an increase of approximately 4.95% from 366,267 million (€323,950 million) in 2021. Therefore, the growing pharmaceutical industry is driving the growth of the apple seed oil market.
Key Industry Players
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
The apple seed oil market report table of contents includes:
1. Executive Summary
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32. Global Apple Seed Oil Market Competitive Benchmarking
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