Cosmetic Oil Market Size to Grow at a CAGR of 5% in the Forecast Period of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5%
Growing prevalence of skin problems due to hormonal imbalances, rising pollution levels, and genetic disorders, among other factors, is a major driver in the cosmetic oil market. Rising pollution levels have resulted in exposure of skin to various pollutants as a result of which skin can become dehydrated, age prematurely, and the skin barrier can get damaged. Such negative impacts have increased the demand for skin and haircare products, this in turn has supported the growth of the market for cosmetic oils.
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Rising per capita income and urbanisation have resulted in increased spending on premium and unique products by consumers. This coupled with the growing e-commerce industry has led to availability of lucrative growth opportunities to the cosmetic oil market. Increasing middle-aged population along with the surging focus on maintenance of youthful appearances is further driving the growth of the market globally.
Increasing awareness about the negative impacts of petroleum-based ingredients in cosmetics has boosted the demand for vegan and plant-based cosmetic products, including cosmetic oil. Furthermore, rising hair loss concerns have resulted in increased utilisation of shampoos and hair oils. Growing collaborations between major brands and dermatologists is anticipated to propel the growth of the market for cosmetic oils in the coming years.
Cosmetic Oil Industry Definition and Major Segments
Cosmetic oils are oils utilised in skin and haircare products in forms such as facials, elixirs, and hair oils and as key ingredients in moisturisers, lipsticks, serums, and lip balms. These oils can be used for their own benefits or act as carrier oils for cosmetic formulations. Based on the oil type and source, benefits, suitability, and mode of applications may vary.
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Based on type, the market is segmented into:
• Almond Oil
• Coconut Oil
• Olive Oil
• Essential Oil
By application, the market is divided into:
• Skin Care
• Lip Care
• Hair Care
On the basis of region, the market is classified into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Cosmetic Oil Market Trends
The key trends in the cosmetic oil market include the increasing preference for natural ingredients due to growing consumer awareness and knowledge about the benefits of using natural ingredients. Chemical face creams are increasingly being replaced by bio-oils because of their ability to reduce stretch marks, acne, hyperpigmentation, and act as a hydrating agent to nurture dry skin. Growing consumer expectations pertaining to the type of ingredients used for manufacturing cosmetics has positively impacted the growth of the market for cosmetic oils in the recent years as the demands for organic and natural materials increased.
Several initiatives are being taken by key players in the cosmetic oil market so as to meet the growing expectations of the consumers. These initiatives include launching a wide range of facial and hair oils and essential oils, among others.
Growing consciousness about physical appearances among individuals due to increasing prevalence of social media coupled with rising preference for customised cosmetics is bolstering the growth of the market for cosmetic oils. Expansion of various cosmetic chains is further aiding the growth of the market as such stores usually employ professionals to guide customers and help them in selecting products most suited to their skin types.
Key Market Players
The major players in the global cosmetic oil market report are:
The Estée Lauder Companies
Procter & Gamble Company
Johnson & Johnson Services, Inc
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Company Name: Claight Corporation
Contact Person: John Walker, Corporate Sales Specialist - U.S.A.
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
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