Apricot Oil Market: Overview
Apricot Oil which is also known as prunus armeniaca is extracted from the seeds of apricot fruit with the help of cold press method. The base oil is generally mixed with other essential oil to facilitate easy application. The apricot oil is ordinarily used in cosmetics products such as massage and aromatherapy oils, skin care lotions, soaps, and creams etc. in addition to this, it is used as a carrier oil in pharmaceutical products. The apricot oil is also used in dietary supplements as it is an excellent source of essential fatty acids and antioxidants.
Apricot Oil Market: Drivers and Restraints
The apricot oil market is expected to gain significant demand during the forecast period. The high growth of apricot oil is attributed to the increase in demand for essential oils in various applications such as cosmetics and skin care, spa, hair care products, and in food products. Growing awareness regarding the health benefits of apricot oil coupled with health consciousness among the consumers is likely to bring high revenue growth to the global apricot oil market. The growing demand for skin care products and various cosmetics, as well as spa and relaxation applications, is expected to increase demand in upcoming years. In addition to this factors, the growing disposable income of the increasing middle-class population in developing countries has nurtured the demand for apricot oil for cosmetics and personal care products. The contents of amygdalin in the apricot oil can get converted to cyanide in the body. This may lead to respiratory failure. The amygdalin contents is removed from the edible apricot oil. This limits the application of apricot oil for edible applications. Thus it is anticipated to act as a restraint for the apricot oil market.
On the basis of application type, the apricot oil market can be segmented into food, personal care, Spa, Medical, and others. Personal care application is expected to remain as a dominant segment over the forecast period owing to increasing demand for skin care and hair care products.
Apricot Oil Market: Segmentation
On the basis of Application,
- Personal care
Apricot Oil Market: Region Wise Outlook
The global Apricot Oil Market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The North America region is the leading market in the global Apricot Oil market. Factors such as high living standards, increased health awareness, increasing disposable income, and on the move lifestyle are expected to expand the growth of apricot oil market over the forecast period. APEJ is likely to be the fastest growing market owing to the increasing demand of apricot oil in personal care industry.
Apricot Oil Market: Key Players
- AMD Oil, LLC
- Dogaci – Cosmetic Products
- Xi’an Fengzu Biotechnology Co., Ltd
- Green Fields Oil Factory
- BATA FOOD
- Herbal Bio Solutions
- Gopiraj International Limited
- Proteco Oils
- Statfold Seed Developments Ltd.
- G. Industries
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