Rising prevalence of chronic diseases and increasing consumption of Grapeseed Oil products are expected to further improve the overall market development of Grapeseed Oil market.
Grapeseed Oil Market The size is expected to reach $ 647.8 million by 2026, increasing at a CAGR of 3.8% during the forecast period 2021-2026. Grape seed oil is obtained in winemaking. It is extracted from grape seeds obtained after winemaking. It is a rich source of polyunsaturated fatty acids which usually contains linoleic acid and palmitic acid, among others. Grapeseed oil is used in cosmetics and personal care. It is also used for acne reduction, and anti-inflammatory among others. The growing demand for grape seed oil in personal care and cosmetics and the growing health awareness among individuals as well as increasing spending on cosmetics are the major drivers for the growth of the market. The increasing prevalence of chronic diseases and the increasing consumption of grape seed oil products are expected to further improve the overall development of the grape seed oil market for the period 2021-2026.
Grapeseed Oil Market Segment Analysis – By Extraction Process
The mechanical segment held the largest share of the grape seed oil market in 2020 and is expected to grow at a CAGR of 4.1% during the forecast period 2021-2026. This is attributed to the fact that it requires less power consumption compared to other extraction techniques. Using low temperature cold pressing methods, high quality oil is obtained without any addition of additives and solvents. Mechanical extraction does not involve any chemical reaction and makes the process easy to use. It is environmentally friendly and excludes the use of hexane and air pollutants. The production of grape seed oil requires less investment and is therefore simple and environmentally friendly. It is estimated that the mechanics will register the highest CAGR during the period 2021-2026.
Grapeseed Oil Market Segment Analysis – By End User
Cosmetics held the largest share of the Grapeseed Oil market in 2020 and is expected to grow at a CAGR of 4.3% during the forecast period 2021-2026. This is due to the increasing use of grape seed oil in cosmetics and personal care products such as anti-aging products, hair care products, moisturizers, and bath oils, among others. It helps hydrate the skin as well as repair the skin. Increasing investment in research and development, increasing availability of natural ingredients to improve skin care properties, and increasing product innovations in plant extracts are driving the growth of the segment. Cosmetics are expected to register the highest CAGR over the period 2021-2026.
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Grapeseed Oil Market Segment Analysis – By Geography
North America dominated the grape seed oil market with a significant share of 34.7% in 2020. This is attributed to growing government initiatives aimed at improving consumer knowledge towards new innovations in the field. of grape seed oil, and the growing emphasis on research and development to adopt herbal extracts into medicinal formulations that provide health benefits. The growing inclination of consumers of grape seed oil towards natural and herbal products, and the increasing number of applications in the healthcare industry are also increasing the market growth in this region.
However, Asia-Pacific is expected to grow at a higher CAGR during the forecast period 2021-2026 due to the increasing ability of grape seed oil to improve health, lower cholesterol in the body and to function properly. The increasing use of grape seed oil for lowering blood pressure, improving bone strength, and increasing awareness of lifestyle disorders is increasing the market growth in this region.
Grapeseed Oil Market Drivers
Growing prevalence of cardiovascular disease
The increasing prevalence of cardiovascular disease is increasing the growth of the grape seed oil market. Some of the major contributors to cardiovascular disease include poor diet, smoking, and physical inactivity, among others, which increase blood pressure and blood sugar levels, leading to overweight and obesity. According to the WHO, four out of five cardiovascular deaths are due to heart attacks and strokes. Thus, increasing the growth of the Grapeseed Oil market during the forecast period 2021-2026.
Growing prevalence of chronic disease
The increasing prevalence of chronic diseases is increasing the growth of the grape seed oil market. The main cause of death in the world is due to chronic diseases. It is estimated that about 29% of deaths are due to chronic diseases. 40.5% of the American population suffers from these diseases. Grapeseed oil contains vitamin E as well as fatty acids that help maintain a healthy diet. Thus, increasing the growth of the Grapeseed Oil market during the forecast period 2021-2026.
Grapeseed Oil Market Challenges
Growing use of harmful chemicals in the production process and increasing competition
Some of the factors which are expected to hamper the growth of the grape seed oil market are the increasing use of harmful chemicals in the production process and increasing competition. Rising production costs and availability of other products are also expected to hamper the growth of the market during the forecast period 2021-2026.
Grapeseed Oil Market Landscape
Product launches, mergers and acquisitions, joint ventures and R&D activities are the key strategies adopted by the players in the Grapeseed Oil market. In 2020, the market share of grape seed oil is consolidated by the top ten players present in the market. In the grape seed oil market, the top 10 companies are Food & Vine Inc., Hebei Biotechnology Co. Ltd., Mediaco Vrac, Borges Mediterranean Group and Gustav Hees GmbH, among others.
Key points to remember
North America dominated the grape seed oil market in 2020 due to the growing awareness of personal grooming and the growing demand for the personal and cosmetic industry. The scope of the Grapeseed Oil market for different regions will be provided in the final report.
Growing consumer preference for cosmetic products and increasing demand for environmentally friendly and sustainable food products are likely to promote the market growth of Grapeseed Oil Market report.
A detailed analysis of the strength, weaknesses, and opportunities of major players operating in the market will be the Grapeseed Oil Market report.
The increasing use of harmful chemicals in the production process and increasing competition are poised to create hurdles for the grape seed oil market.
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