Persistence Market Research delivers vital insights on the global walnut oil market, in its upcoming outlook titled, ‘Walnut Oil Market: Global Industry Analysis 2013-2017 and Forecast 2018-2027’. In terms of global value, the walnut oil market is projected to exhibit a promising CAGR of 5.1% over the forecast period, due to various factors, regarding which, PMR offers key insights in detail.
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Based on the nature of walnut oil, the conventional segment is projected to remain as a dominant segment in the walnut oil market, with a robust CAGR of 5.0% during the forecast period. The major growth for walnut oil demand in the market has stemmed from the rapidly expanding aromatherapy sector. Especially observed in developed regions, the growth in the aromatherapy sector accounts largely for the growth of the walnut oil market, since walnut oil is widely used as a carrier oil. The increase in the demand for cosmetic products from the young demographic of developing countries has resulted in a steady growth in the demand for walnut oil, worldwide. Walnut oil is an essential part of modern healthcare practices. Owing to its beneficial nutrient content rich in omega fatty acids, proteins, antioxidants, magnesium, copper, etc., this nutrient-rich profile of walnut oil has resulted in it being popularized for its health benefits, and is used in multiple healthcare and personal care products.
Global walnut production has increased from 2,494,977 MT in 2016 to 2,678,967 MT in volume, as of 2018. Walnut oil is an integral product in the portfolio of walnut products, and relatively, the production of walnut oil has been proportionally on the rise as well. Asia Pacific has had a major impact on the walnut oil market, owing to its tremendous walnut production. The increase in the demand for walnut oil can also be widely associated with the recent trends of go-natural for personal care products. Social media influence regarding do-it-yourself has led to the higher demand for organic walnut oil, being driven up for personal care purposes. This has had an impact on the distribution channels associated with walnut oil as well, wherein, the business to business segment of distribution is losing its market share gradually, as hypermarkets and supermarkets gain that lost share due to changes in consumer preferences.
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Raw material production for manufacturing walnut oil is uncertain, and this can lead to fluctuations in the final cost of the product. The fluctuation in production also affects the quality of the walnut oil. Uncertain production of walnut oil mainly arises due to uncertain weather conditions, onset of diseases, or improper storage of the walnuts. Processing of the walnut kernel is a big value addition process for walnut oil production. The production cost might deter new players from entering the walnut oil market, and instead make them focus on walnut kernel trade, which is higher in demand. Apart from processing costs, short shelf life is proving to be another restraint for the walnut oil market.
This report covers the trends in the walnut oil market that are pushing each segment, and provides analysis and insights of the potential of the walnut oil market in particular regions. The nutritional supplements and aromatherapy & pharmaceuticals segments are expected to experience high growth rates between the period 2018 and 2027, while the cosmetics and personal care segment is predicted to dominate as the largest market for walnut oil through to 2027.
Detailed profiles of walnut oil participants have also provided in the report, so as to evaluate their recent key offerings, developments, and short- and long-term strategies in the walnut oil space. Some of the key players profiled in the report are Gustav Heess GmbH, Proteco Oil, La Tourangelle, Henry Lamotte OILS GmbH Truly Essential, Aromax industry, Granary Oil Company, Royal Nut Company, Paducah Olive Oil Company, Caloy, Inc., Tarpon Springs Olive Oil Company, Azienda Agricola La Masetta, Uncle Joe’s Factory, Nuts.com, Eataly Net S.r.l., Alnor Oil Company and others.
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