Global Cosmetic Oil Market Insights Forecasts to 2030
- The global Cosmetic Oil Market was valued at USD 5.27 Billion in 2021.
- The Market is growing at a CAGR of 5.0% from 2021 to 2030
- The global Cosmetic Oil Market is expected to reach USD 8.17 Billion by 2030
- South Korea is expected to grow the fastest during the forecast period.
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The global Cosmetic Oil Market is expected to reach USD 8.17 Billion by 2030, at a CAGR of 5.0% during the forecast period 2021 to 2030. Global Cosmetic Oil Market demand is to drive market expansion due to some of the factors expected during the forecast period including rising preferences for organic and natural products and the expanding e-commerce industry. The market for cosmetic oils will experience significant sales due to the rising demand for cosmetic products as a result of people's increased awareness of outward beauty.
In the form of hair oil, elixir oil, and face oil, cosmetic oil is frequently used in the formulation of skin and hair care products. Almond, coconut, and essential oils are examples of cosmetic oil. The antibacterial, hydrating, and anti-inflammation qualities of these oils help to prevent hair loss and also aid in stress reduction when used in hair massage. In fibreglass, lip balm, moisturisers, and serum for hair and skin care products, cosmetic oils play a vital role. Since they are chemical-free and have no or fewer adverse effects on the skin, consumers are choosing natural and organic cosmetic products for hair and skincare. Argon oil, Moroccan oil, Jojoba oil, olive oil, rosehip oil, apricot kernel oil, and black seed oil are just a few of the several kinds of cosmetic oils that are available. To hydrate and nourish skin and hair, use coconut oil, jojoba oil, and macadamia oil. Cosmetic oils provide a number of advantages, including the ability to treat sunburn, prevent dandruff, treat acne, improve the quality of the skin, protect the skin, prevent wrinkles, and treat acne. They are also rich in antioxidants and antibacterial qualities. Market expansion chances are being created by rising online platform use and public awareness. In response to customer demand, manufacturers are offering a variety of products like normal skin products, sensitive skin products, and if people are facing any issues like dandruff, dry scalp, etc. so according to that also products are available, which is a great opportunity for the growth of the market. People are becoming more health-conscious, so they have started using the products according to their skin type. But expensive premium goods may restrain the market's expansion. Some companies sell quality goods, but their prices are so high that middle-class consumers cannot buy them, which could have a detrimental impact on the market's expansion. The expansion of the coronavirus has resulted in a decline in cosmetic product use. While the need for basic items like oils and shampoos has not decreased significantly, the demand for non-essential hair and skin care products has been constrained. Sales of cosmetic products were significantly impacted by the poor economic recovery brought on by the COVID-19 pandemic in 2020, yet there is a great opportunity for future growth.
Global Cosmetic Oil Market Report Coverage
|Market Size in 2021:||USD 5.27 Billion|
|Forecast Period:||2021- 2030|
|Forecast Period 2021- 2030 CAGR:||5.0%|
|2030 Value Projection:||USD 8.17 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||133|
|Segments covered:||By Sourc, By Application, By Function, by Region|
|Companies Covered:||Adinath Chemicals, Exxon Mobil, Calumet Specialty Products Partners, Columbia Petro Chem, ExxonMobil Corporation, H&R Group, HollyFrontier Corporation, Oxiteno, Renkert Oil, Sasol, Savita Oil, and Sinopec Petrochemical & Chemical Corporation.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the Market for global Cosmetic Oil based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Cosmetic Oil Market. Recent Market developments and competitive strategies such as expansion, Product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the Market. The report strategically identifies and profiles the key Market players and analyses their core competencies in each global Cosmetic Oil Market sub-segments.
- In 2021, the Vegetable oil segment dominated the Market with the largest Market share of 61.1% and Market revenue of 3.21 Billion.
Based on the Source, the global Cosmetic Oil Market is categorized into Mineral oil and Vegetable oil. In 2021, the Vegetable oil segment dominated the Market with the largest Market share of 21.1% and Market revenue of 3.21 Billion. Due to the growing need for vegetable oil in cosmetic applications, this market is expanding at the fastest rate. Avocado, almond, palm, coconut, and other types of vegetable oils as well as essential oils are frequently utilized in cosmetic products because of their capacity to cure and protect the skin.
Vegetable oil is used more frequently in cosmetics due to growing public knowledge of its skin-friendly properties. Additionally, expanding the use of novel vegetable oils in cosmetic products will encourage the market share for cosmetic oils. Due to their diverse biological functions and desirable technological traits like easy skin absorption and exceptional spreadability, vegetable oils have also drawn a lot of attention.
- In 2021, the Hair care segment accounted for the largest share of the Market, with 33.3% and a Market revenue of 1.75 Billion.
Based on the Application, the Cosmetic Oil Market is categorized Hair care, Skin care, Makeup, Lip care, and Others. In 2021, the Hair care segment accounted for the largest share of the Market, with 33.3% and a Market revenue of 1.75 Billion. Throughout the forecast period, the Hair care segment is anticipated to maintain its leading position while expanding at the fastest CAGR. In order to give the hair a lustrous and smooth texture, cosmetic oil is widely used in a variety of hair care products, including hair oil, shampoos, conditioners, serums, and other hairstyle treatments. These oils also promote the development of hair follicles by moisturising the scalp. Additionally, the growing significance of hair care and style in people's life has had a positive impact on the demand for various hair care products, regardless of gender. The highest portion of the global cosmetic oil market was accounted for by hair care applications. Hair oils are thought of as a vital source of nutrients for the hair and aid in conditioning and moisturising the hair. It has also encouraged producers to concentrate more on hair products' efficacy & components.
- In 2021, the Skin Conditioning & Moisturizing segment accounted for the largest share of the Market, with 47.5% and a Market revenue of 2.50 Billion.
Based on the Function, the Cosmetic Oil Market is categorized Skin Conditioning & Moisturizing, Hair Conditioning, and Other. In 2021, the Skin Conditioning & Moisturizing segment accounted for the largest share of the Market, with 47.5% and a Market revenue of 2.50 Billion. By restoring suppleness and lowering flaking, cosmetic oils are used as skin conditioners to improve the appearance of dry and damaged skin. Due to the growing number of skin issues brought on by hereditary disorders, pollution, hormonal imbalance, and other factors, among others, skin conditioning and moisturising is the market category with the quickest growth. The market for cosmetic oils will see an increase in revenue due to rapid urbanisation, rising pollution levels, and growing consumer awareness of various skin care products.
Regional Segment Analysis of the Cosmetic Oil Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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North America emerged as the largest Market for the global Cosmetic Oil Market, with a Market share of around 53.3% and 2.80 Billion of the Market revenue in 2021.
- North America emerged as the largest Market for the global Cosmetic Oil Market, with a Market share of around 53.3% and 2.80 Billion of the Market revenue in 2021. The demand for Cosmetic Oils is being driven by the rising acceptance by the market. North America region's high proportion of Cosmetic Oil can be attributed to consumers' rising knowledge about the product. The sale of hair care products will increase as incidences of early ageing and hair greying rise, particularly among young people due to inadequate nutrition and other vitamins over all of North America. Additionally, the use of vegetable oils in everyday and personal care products is a major factor in the growth of the cosmetic oil market during the course of the forecast period.
- South Korea Market is expected to grow at the fastest CAGR between 2021 and 2030, owing to the increasing encouragement and benefits for foreign businesses to enter the region. Cosmetic Oils demand in the personal care sector is anticipated to increase demand in the area. With leading-edge advancements in the cosmetics sector and extensively used South Korean-made products, South Korea is one of the world's top cosmetics markets. Korean beauty enterprises have entered the international market as a result of the enormous interest in K-beauty products among customers in the United States and Europe. Koreans favour locally manufactured goods because they are just as high-quality as imports from the US and Europe, but they are less priced. This has helped the growth of local players as well as the expansion of their market.
The report offers the appropriate analysis of the key organizations/companies involved within the global Cosmetic Oil Market along with a comparative evaluation primarily based on their Product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including Product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market.
List of Key Market Players:
- Adinath Chemicals
- Exxon Mobil
- Calumet Specialty Products Partners
- Columbia Petro Chem
- ExxonMobil Corporation
- H&R Group
- HollyFrontier Corporation
- Renkert Oil
- Savita Oil
- Sinopec Petrochemical & Chemical Corporation
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In October 2020, DoTERRA unveiled a number of new diffusers and essential oil products, as well as three new wellness initiatives aimed at assisting people in concentrating on their individual health objectives.
- In October 2021, For multipurpose cosmetic component Hydrolite 7 green, Symrise submitted a number of patent applications.
This study forecasts global, regional, and country revenue from 2021 to 2030. Spherical Insights has segmented the global Cosmetic Oil Market based on the below-mentioned segments:
Global Cosmetic Oil Market, By Source
- Mineral oil
- Vegetable oil
Global Cosmetic Oil Market, By Application
- Hair care
- Skin care
- Lip care
Global Cosmetic Oil Market, By Function
- Skin Conditioning & Moisturizing
- Hair Conditioning
Global Cosmetic Oil Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Cosmetic Oil market?As per Spherical Insights, the size of the Cosmetic Oil market was valued at USD 5.27 billion in 2021 to USD 8.17 billion by 2030.
What is the market growth rate of the Cosmetic Oil market?The Cosmetic Oil market is growing at a CAGR of 5.0% from 2021 to 2030.
Which country dominates the Cosmetic Oil market?North America emerged as the largest market for Cosmetic Oil.
Who are the key players in the Cosmetic Oil market?Key players in the Cosmetic Oil market are Adinath Chemicals, Exxon Mobil, Calumet Specialty Products Partners, Columbia Petro Chem, ExxonMobil Corporation, H&R Group, HollyFrontier Corporation, Oxiteno, Renkert Oil, Sasol, Savita Oil, and Sinopec Petrochemical & Chemical Corporation.
Which factor drives the growth of the Cosmetic Oil market?High demand for organic is expected to drive the market's growth over the forecast period.
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