Plant-based cosmetic oil market to witness substantial expansion | Companies like Exxon Mobil, Sinopec, Maverik Oils, DoTerra, Symrise, BASF

Growing utilization of cosmetic oil in numerous personal care products such as body lotions, creams, make-up, serum, shower-gels, exfoliating agents, and shampoos will foster cosmetic oil market size in the forthcoming years. The utilization of cosmetic oil provides soothing and smoothing action on the skin and grooming effects on the beard and head hair.

Increasing awareness among the population in North America regarding aesthetic appearance and growing personal and health care spending will complement cosmetic oil market expansion in the region. As per the National Health Expenditure Accounts (NHEA), the U.S. health care spending rose by 4.6% and valued at US$3.8 trillion in 2019. The presence of stringent FDA norms regarding cosmetic adulterations and controlled utilization of oils and chemicals in personal care products will positively influence the North America industry landscape.
According to Global Market Insights, Inc., global cosmetic oil market size is expected to reach over US$7.6 billion by 2026.

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The implementation of methodologies such as increased stability through the use of antioxidants, improved processing of oil to reduce odor, and diversification through chemical modification will eliminate the shortcomings of natural oils and increase their adoption in cosmetics. Also, utilization of unmodified oils such as apricot kernel oil, almond oil, safflower oil, sesame oil, avocado oil, wheat germ oil, and others particularly in higher-priced cosmetics will provide tremendous growth opportunities to the cosmetic oil market players.

Company profiled in the cosmetic oil market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Exxon Mobil
2. Sinopec Corporation
3. Maverik Oils
4. Renkert
5. Sonneborn
6. DoTerra
7. Symrise
8. ATDM CO.LTD
9. L’Oreal
10. BASF

Vegetable oils are mostly extracted from seeds and other parts of fruits, which are used as an important component in various manufactured products. There are a number of vegetable and plant-based oils that are used to make skin products, soaps, perfumes, and other personal grooming products. Growing preferences of people towards personal grooming products will escalate cosmetic oil market demand in the coming years.

Almond oil is recognized as edible oil, but it is primarily utilized in the manufacturing of cosmetics. Coconut oil is extracted from the kernel of the fruit of the coconut palm, which is mainly used as a cooking oil. Increasing applicability of coconut oil in cosmetics, medical and industrial settings is expected to drive product demand and foster industry trends.

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Plant based oils derived from coconut, jojoba, almond, and olive are extensively utilized in hair care products for their smoothening, softening, and moisturizing properties. Increasing pollution levels, aging problems, and several other factors hampering hair growth will boost the high adoption of plant-based oils for the manufacturing of hair care products.

Mineral oil is considered a vital ingredient of various cosmetic formulations. On account of its exceptional properties including moisturizing and skin softening, mineral oil is broadly utilized in a wide array of cosmetics and personal care products ranging from bath oils, skincare cosmetics, and hair care products. Growing utilization as a skin conditioning agent, skin protectant, hair conditioning agent, and as a solvent would fuel the cosmetic oil market in the forthcoming years.

The restrictions of the lockdown imposed by various governments across the globe to curb the surging cases of COVID19 has drastically impeded the supply of raw materials and manufacturing processes, which has eventually hampered cosmetic oil industry growth to a certain extent. However, the recommencement of business operations post-lockdowns is expected to generate demand for cosmetic oil and stabilize industry growth trends.

Get More News:

https://www.prnewswire.com/news-releases/cosmetic-preservatives-market-valuation-to-exceed-1-25-billion-by-2026--says-global-market-insights-inc-301060587.html

https://www.globenewswire.com/en/news-release/2020/09/30/2101192/0/en/Cosmetic-Pigments-Market-projected-to-exceed-1-billion-by-2026-Says-Global-Market-Insights-Inc.html

http://www.globenewswire.com/news-release/2018/12/04/1661638/0/en/Global-Minoxidil-Market-to-surpass-1-2bn-by-2024-Global-Market-Insights-Inc.html

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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