The North America Grapeseed Oil Market would witness market growth of 7.6% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 2,218.0 tonnes, showcasing a growth of 19.0% (2020-2023).
The pressing extraction process of grape seed oil involves a series of methodical steps to obtain oil from grape seeds. First, the seeds are cleaned and dried to remove impurities and excess moisture, ensuring a pure final product. The cleaned seeds are then mechanically pressed using a screw press or hydraulic press, which applies high pressure to crush the seeds and extract the oil. This method is preferred for its ability to produce oil without the need for chemical solvents, maintaining the oil's natural flavor and nutritional value. Therefore, in Canada, 222.5 tonnes of grapeseed oil were extracted mechanically by pressing in 2023.
The US market dominated the North America Grapeseed Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $248,677.2 Thousands by 2031. The Canada market is experiencing a CAGR of 9.9% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 9% during (2024 - 2031).
Grapeseed oil, a by-product of the wine and beverage industry, has garnered substantial attention and popularity in recent decades. It is derived from the seeds of grapes. Its emergence in the market can be attributed to many factors, including its versatile applications, numerous health benefits, and the growing consumer preference for natural and organic products. As the demand for grapeseed oil continues to rise, it is crucial to understand the various elements driving its market growth, the challenges it faces, and the prospects for this dynamic sector.
The origins of grapeseed oil can be traced back to ancient civilizations where grape cultivation was widespread, primarily for wine production. However, the extraction and utilization of oil from grape seeds did not gain substantial commercial traction until recently. Advancements in extraction technologies have largely influenced the modern grapeseed oil market, making the process more efficient and economically viable. This has increased the availability of grapeseed oil, making it a prominent contender in the global vegetable oil market.
Canada's cosmetics and personal care industry is also experiencing robust growth, contributing to the increasing demand for grapeseed oil. As per the data provided by the International Trade Administration in 2021, the cosmetics sector in Canada generated approximately USD 1.24 billion in revenue. Industry revenue is expected to reach USD 1.8 billion by 2024. Additionally, Health Canada’s stringent regulations on cosmetic products ensure high safety standards, encouraging the use of high-quality ingredients like grapeseed oil. The rising trend of DIY skincare and beauty routines, supported by the availability of grapeseed oil in health food stores and online, further enhances its demand.
Additionally, the healthcare sector's focus on preventative care and natural supplements has supported the demand for grapeseed oil in North America. The region's advanced retail infrastructure in brick-and-mortar stores and e-commerce platforms ensures wide availability and easy access to grapeseed oil products, contributing to high sales and revenue. Hence, the region will present lucrative growth opportunities for the market.
Free Valuable Insights: The Grapeseed Oil Market is Predict to reach USD 990.3 Million by 2031, at a CAGR of 8.2%
Based on Type, the market is segmented into Conventional, and Natural. Based on Extraction Process, the market is segmented into Mechanically by Pressing, Chemically Extracted, and Others. Based on Application, the market is segmented into Food Industry, Personal Care & Cosmetics, Supplements & Healthcare, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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 Country (Volume, Tonnes, USD Million, 2020-2031)
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