“Global Walnut Oil Market to reach a market value of USD 1.4 Billion by 2030 growing at a CAGR of 6.3%”
The Global Walnut Oil Market size is expected to reach $1.4 billion by 2030, rising at a market growth of 6.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 33,553.50 tonnes, experiencing a growth of 5.3% (2019-2022).
There has been a growing preference among consumers for natural and organic ingredients in personal care and cosmetic products. Thus, the Cosmetics segment acquired $190.08 million revenue in 2022. Walnut oil is perceived as a natural and environmentally friendly ingredient, making it increasingly popular among consumers seeking.
Concerns about their health and well-being are growing among consumers. They are more inclined to choose natural and organic products, including walnut oil, as they perceive them to be healthier alternatives to conventional options. Therefore, the increasing demand for natural and organic products propels the market's growth.
Additionally, Vegan and plant-based diets exclude animal products, including dairy and animal fats. As a result, individuals following these diets seek alternative sources of essential nutrients and cooking ingredients. Thus, the rise in vegan and plant-based diets drives the market's growth.
However, Walnut oil production typically starts with the harvesting of walnuts. Harvesting walnuts can be labor-intensive and time-consuming, especially if done manually. The process requires skilled labor and specialized equipment, contributing to higher production costs. Hence, the high production costs of walnut oil are hampering the market's growth.
On the basis of application, the market is segmented into food & beverage, cosmetics, pharmaceuticals & nutraceuticals, aromatherapy, and others. The pharmaceuticals & nutraceuticals segment recorded 35.1% revenue share in the market in 2022. Walnut oil's nutritional composition and health-promoting properties make it a versatile ingredient in pharmaceuticals and nutraceuticals.
Based on distribution channel, the market is categorized into online retail, supermarkets & hypermarkets, and specialty stores. In 2022, the supermarkets and hypermarkets segment procured a 31% revenue share in the market.
Based on grade, the market is divided into food grade, cosmetic grade, and pharma grade. The food grade segment attained a considerable 17% revenue share in the market in 2022. Food-grade walnut oil has a distinct nutty flavor and aroma, adding depth and richness to various culinary dishes.
Free Valuable Insights: Global Walnut Oil Market size to reach USD 1.4 Billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region generated 35.1% revenue share in the market. Customers are adding walnut oil to their meals as an organic source of antioxidants and important fatty acids as they become more aware of the oil's health advantages.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 862.2 Million |
| Market size forecast in 2030 | USD 1.4 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.3% from 2023 to 2030 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Million/Billion, and CAGR from 2019 to 2030 |
| Number of Pages | 314 |
| Number of Tables | 730 |
| 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 | Grade, Distribution Channel, Application, Region |
| Country scope |
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| Companies Included | Roland Foods LLC (Vestar Capital Partners), O&3 Limited (IMCD N.V.), AOS Products Pvt. Ltd., VedaOils (BO International), Plenty Foods Pty Ltd., A.G. Industries Pvt. Ltd., Chinaplantoil Co., Ltd., Ji'an Zhongxiang Natural Plants Co., Ltd., Sva Organics (Sri Venkatesh Aromas), La Tourangelle, Inc. |
By Application (Volume, Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Tonnes, USD Billion, 2019-2030)
By Grade (Volume, Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD 1.4 billion by 2030.
Growing demand for natural and organic products are driving the Market in coming years, however, High production costs of walnut oil restraints the growth of the Market.
Roland Foods LLC (Vestar Capital Partners), O&3 Limited (IMCD N.V.), AOS Products Pvt. Ltd., VedaOils (BO International), Plenty Foods Pty Ltd., A.G. Industries Pvt. Ltd., Chinaplantoil Co., Ltd., Ji'an Zhongxiang Natural Plants Co., Ltd., Sva Organics (Sri Venkatesh Aromas), La Tourangelle, Inc.
In the year 2022, the market attained a volume of 33,553.50 tonnes, experiencing a growth of 5.3% (2019-2022).
The Online Retail segment is leading the Market, by Distribution Channel in 2022; there by, achieving a market value of $715 Million by 2030.
The North America region dominated the Market, by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $477.6 Million by 2030.
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