“Global Grapeseed Oil Market to reach a market value of USD 990.3 Million by 2031 growing at a CAGR of 8.2%”
The Global Grapeseed Oil Market size is expected to reach $990.3 million by 2031, rising at a market growth of 8.2% CAGR during the forecast period. In the year 2023, the market attained a volume of 10,632.1 tonnes, experiencing a growth of 19.5% (2020-2023).
Grapeseed oil is renowned for providing deep hydration while remaining light on the skin. It is abundant in essential fatty acids, particularly linoleic acid, which are essential for the preservation of the skin's barrier and the prevention of hydration loss. Hence, the Personal Care & Cosmetics segment procured more than 1/4th share in the market in 2023. In terms of volume, it is expected that 6,488.4 tonnes of grapeseed oil would be utilized in Personal Care & Cosmetics. The regenerative properties of grapeseed oil make it an ideal ingredient in anti-aging products. Its high vitamin E content and potent antioxidants help neutralize free radicals, which are known to accelerate aging.
The demand for products that are perceived as healthier and more environmentally favourable is on the rise as consumers become more aware of the ingredients and production methods used in the products they purchase. Concerns regarding the environmental consequences of conventional agricultural and manufacturing practices and an increased awareness of the potential health benefits of natural and organic products are the primary factors driving this change in consumer preferences. Hence, the growing consumer preference for natural and organic products is a major driver for the grapeseed oil market.
Additionally, as consumers gain more financial flexibility, their spending patterns shift towards higher-quality and health-focused products, reflecting their growing ability to afford such items. Disposable income has been notably increased in countries like India and China over the past decade. According to the National Bureau of Statistics of China, China's per capita disposable income rose from approximately 23,821 yuan in 2016 to 39,218 yuan in 2023, marking a significant growth. This increase in disposable income has empowered Chinese consumers to prioritize their health and wellness, leading to a higher demand for products like grapeseed oil, known for its health benefits. Therefore, the rise in disposable income will drive the market's growth throughout the forecast period.
However, extracting oil from grape seeds is intricate and requires significant investment in machinery and technology. Specialized equipment is required to efficiently separate the oil from the seeds, which must be carefully controlled to maintain the oil's quality and nutritional properties. This initial investment in advanced technology represents a substantial financial burden for producers, particularly small and medium-sized enterprises that may struggle to afford such capital expenditures. Hence, the high production costs associated with grapeseed oil significantly hinder its market growth.
Based on type, the market is characterized into natural and conventional. The conventional segment garnered 65% revenue share in the market in 2023. In terms of volume, 17,544.9 tonnes of conventional grapeseed oil is expected to be utilized by the year 2031. This segment is characterized by traditional farming and production methods, which do not necessarily adhere to organic standards but are efficient and cost-effective. The dominance of the conventional segment can be attributed to several factors. Conventional grapeseed oil is generally affordable, making it accessible to a broader range of consumers.
On the basis of application, the market is classified into food industry, personal care & cosmetics, supplements & healthcare, and others. The food industry segment acquired 37% revenue share in the market in 2023. In terms of volume, 8,093.4 tonnes of Grapeseed oil are expected to be utilized by the year 2031. Grapeseed oil is valued for its favorable nutritional composition. It is low in saturated fat and high in polyunsaturated fats, particularly omega-6 fatty acids like linoleic acid. This makes it a healthier alternative to oils higher in saturated fats, appealing to health-conscious consumers.
By extraction process the market is divided mechanically by pressing, chemically extracted, and others. In 2023, the chemically extracted segment procured 39% revenue share in the market. In terms of volume, it is expected that 8,600.2 tonnes of grapeseed oil were Chemically extracted by the year 2031. Chemically extracted grapeseed oil is typically less expensive to produce than mechanically pressed oil. These cost savings can be passed on to consumers, making it more affordable and attractive to a broader market segment.
Free Valuable Insights: Global Grapeseed Oil Market size to reach USD 990.3 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed 37% revenue share in the market in 2023. In terms of volume, it is expected that 3,738.2 tonnes of grapeseed oil would be utilized in North America by the year 2031. This region's dominance can be attributed to several factors, including high consumer awareness about the health benefits of grapeseed oil and a strong demand for natural and organic products. Oils that provide nutritional advantages are increasingly popular in the United States and Canada due to the increasing emphasis on healthier lifestyles and dietary choices.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 535.2 Million |
| Market size forecast in 2031 | USD 990.3 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 8.2% from 2024 to 2031 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Million, and CAGR from 2020 to 2031 | Number of Pages | 303 |
| Tables | 688 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Extraction Process, Application, Region |
| Country scope |
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| Companies Included | Borges International Group, S.L., Tampieri spa, OLITALIA S.R.L., Gustav Heess Oleochemische Erzeugnisse GmbH, Salute Santé (Food & Vine, Inc.), Oleificio Salvadori S.r.l, ALVINESA NATURAL INGREDIENTS S.A.U, ConnOils LLC (CoreFX Ingredients LLC) |
By Type (Volume, Tonnes, USD Million, 2020-2031)
By Extraction Process (Volume, Tonnes, USD Million, 2020-2031)
By Application (Volume, Tonnes, USD Million, 2020-2031)
By Geography (Volume, Tonnes, USD Million, 2020-2031)
The Market size is projected to reach USD 990.3 million by 2031.
Rising Demand for Natural and Organic Products are driving the Market in coming years, however, High Production Costs Associated with Extraction and Processing restraints the growth of the Market.
Borges International Group, S.L., Tampieri spa, OLITALIA S.R.L., Gustav Heess Oleochemische Erzeugnisse GmbH, Salute Santé (Food & Vine, Inc.), Oleificio Salvadori S.r.l, ALVINESA NATURAL INGREDIENTS S.A.U, ConnOils LLC (CoreFX Ingredients LLC)
In the year 2023, the market attained a volume of 10,632.1 tonnes, experiencing a growth of 19.5% (2020-2023).
The Mechanically by Pressing segment is leading the Market by Extraction Process in 2023; thereby, achieving a market value of $502.4 million by 2031.
The North America region dominated the Market by Region in 2023; thereby, achieving a market value of $347.8 million by 2031.
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