Nut Oils Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The nut-oil market is set to grow at a substantial rate, with a current value of $ 109.6 billion in 2024, projected to reach $ 211.8 billion by 2032. This represents a CAGR of 7.6% over the forecast period. The increasing awareness of the health benefits of nut oils, such as their high nutritional value and the possibility of preventing chronic diseases, is a key factor driving this market growth. Also, the increasing trend towards vegetarianism and the increasing demand for natural and organic products are pushing the market. Technological developments in extraction processes and product innovations are also contributing to the market growth. Companies are investing in research and development to improve the quality and yield of nut oils. Strategic alliances and product launches by market leaders such as Nutiva, Spectrum Organics, and Blue Diamond Growers are expected to strengthen their market positions. The competition in the nut-oil market is gaining momentum. For example, a recent collaboration aimed at expanding the distribution channels and product portfolios reflects the trend towards a greater focus on consumers' changing preferences for healthier and more sustainable food products.

Regional Market Size

Regional Deep Dive

The nut oil market is experiencing significant growth in various regions, mainly because of the growing awareness among consumers about the benefits of nut oils, such as the high content of unsaturated fatty acids and antioxidants. North America is characterized by the demand for organic and non-GMO products, while in Europe the trend is towards premium and speciality oils. In Asia-Pacific, nut oils are experiencing a boom in cooking, influenced by the growing middle class and the country's traditions. Middle East and Africa are experiencing a boom in nut oils, as they are being included in local cuisines. Latin America is slowly adopting these oils as part of its healthy lifestyle.

Europe

• The European market is seeing a trend towards premium nut oils, with brands like La Tourangelle and Farchioni investing in high-quality production methods to cater to gourmet consumers.
• Sustainability initiatives are gaining traction, with organizations like the European Food Safety Authority (EFSA) promoting the use of sustainably sourced nut oils, which is reshaping sourcing practices among manufacturers.

Asia Pacific

• In Asia-Pacific, the culinary use of nut oils is being popularized through cooking shows and social media influencers, leading to increased consumer interest in oils like almond and walnut oil.
• Local companies, such as Kadoya Sesame Mills in Japan, are innovating by blending traditional nut oils with modern flavors, appealing to younger consumers seeking unique culinary experiences.

Latin America

• In Latin America, the market is being influenced by a shift towards healthier cooking oils, with local brands like La Fama introducing nut oils as alternatives to traditional cooking oils.
• Cultural events and food festivals are increasingly featuring nut oils, helping to raise awareness and educate consumers about their benefits and uses in everyday cooking.

North America

• The rise of health-conscious consumers has led to an increased demand for organic nut oils, with companies like Nutiva and Spectrum Organics expanding their product lines to include organic options.
• Regulatory changes, such as the FDA's updated labeling requirements, are pushing manufacturers to provide clearer information on the health benefits of nut oils, thereby influencing consumer purchasing decisions.

Middle East And Africa

• The Middle East is witnessing a growing trend of incorporating nut oils into traditional dishes, with brands like Al Wadi Al Akhdar promoting their use in local cuisines.
• Government initiatives aimed at promoting healthy eating habits are encouraging the use of nut oils, with campaigns highlighting their nutritional benefits and culinary versatility.

Did You Know?

“Did you know that almond oil is not only popular for cooking but is also widely used in cosmetics and skincare products due to its moisturizing properties?” — International Journal of Cosmetic Science

Segmental Market Size

The market for nut oils is experiencing steady growth, driven by a growing awareness of the health benefits of nut oils, such as almond and walnut oil. The trend towards a vegetarian diet and the popularity of natural and organic products are also contributing to the growth of the market. Government policies promoting the use of healthy foods are also expected to encourage demand. The market is now at a stage of maturity with companies such as Spectrum Organics and La Tourangelle leading the way in product development and distribution across North America and Europe. The principal uses of nut oils are in cooking, in cosmetics and as dietary supplements. Almond oil, for example, is used extensively in gourmet cooking and in cosmetics. Walnut oil is used in dietary supplements. These trends are reflected in the growing importance of sustainable production and clean label products. The pandemic of influenza, ’19, and the subsequent concern about health, have all contributed to a growing demand for nut oils. Cold-pressing and developments in packaging are determining the future of the market. They ensure a high quality of product and extend shelf-life.

Future Outlook

The nut-oil market is slated to grow at a CAGR of 7.4 percent from 2024 to 2032. The growing popularity of nut oils, which are rich in vitamins, essential fatty acids, and antioxidants, is driving the market’s expansion. Moreover, the increasing shift in consumer preference towards healthier food and beverage is likely to propel the demand for nut oils in the food and beverage, cosmetics, and nutraceuticals industries. In fact, the nut-oil consumption rate in households and restaurants is expected to surpass 30 percent by 2032, owing to the versatility and nutritional value of nut oils. The market is also influenced by technological developments and government initiatives. The advancements in extraction and refining methods are improving the quality and yield of nut oils, which in turn is making them more accessible to consumers. Also, the government’s support towards the organic and natural-food industry is expected to bolster the nut-oil market’s growth. The increasing trend of plant-based diets and the popularity of gourmet cuisine are also likely to drive the market’s growth. The nut-oil market is evolving rapidly, and the key players must remain agile to capitalize on the trend of using healthier products.