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Botanical Cleansing Oil Global Market Demand, Growth, and Overview 2024
Botanical Cleansing Oil Global Market Demand
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According to The Business Research Company's, The botanical cleansing oil market size has grown rapidly in recent years. It will grow from $1.76 billion in 2023 to $2.00 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to rising demand for gentle yet effective makeup removal products, the popularity of elaborate skincare routines, the expansion of online shopping for beauty products, increasing consumer consciousness about health, wellness, and self-care, and a shift in consumer preferences towards customized and personalized skincare.
The botanical cleansing oil market size is expected to see rapid growth in the next few years. It will grow to $3.40 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to the increasing efficacy of botanical oils in thoroughly cleansing and removing impurities, the proliferation of clean beauty retailers and natural wellness stores, a favorable regulatory environment supporting the use of natural ingredients, rising disposable incomes, and a growing middle-class population, and along with diversification of distribution channels. Major trends in the forecast period include strategic digital marketing initiatives, innovative product development, multifunctional botanical cleansing oils, customization of botanical blends, and botanical cleansing oils with aromatherapeutic benefits.
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Market Drivers and Trends:
The expansion of the cosmetics and personal care industries is expected to propel the growth of the botanical cleansing oil market going forward. The cosmetics and personal care industry refers to the sector involved in producing, distributing, and selling products designed to enhance beauty and personal appearance and products aimed at maintaining personal hygiene, grooming, and overall well-being. The growth of the cosmetic and personal care industries is fueled by higher disposable incomes, a youthful demographic, growing awareness of beauty trends, and rising consumer demand for beauty products. Cold-pressed botanical cleansing oils are used in cosmetic applications to dissolve makeup, impurities, and excess oil from the skin while preserving its natural moisture barrier and offering anti-aging benefits. For instance, in June 2024, according to the 2023 annual report published by the Cosmetic, Toiletry, and Perfumery Association, a UK-based personal care association, the UK cosmetic industry grew by 9.7% from 2022 to 2023. Further, the cosmetic industry retail sales increased from £8,725,587 ($11,074,303) in 2022 to £9,568,217 ($12,143,748) in 2023. Therefore, expanding the cosmetics and personal care industries drives the growth of the botanical cleansing oil market.
Major players operating in the botanical cleansing oil market focus on developing innovative products, such as solid cleansing oils, to cater to evolving consumer preferences for convenient and effective skincare solutions. Solid cleansing oils are innovative skincare products that combine the benefits of traditional liquid cleansing oils with a solid, balm-like texture. For instance, in July 2023, Jod, a France-based natural skincare product company, launched lactated cleansing oil for the face and eyes in stick format. It is the first solid natural cleaning oil product formulated with cocoa butter and plant oils and made from 100% natural ingredients. It offers softening and moisturizing properties and boasts high ocular tolerance, making it suitable for all skin types, including those with sensitivity around the eyes.
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Major Key Players of the Market:
Unilever Plc, L'Oreal S.A., Brenntag Ag, Colgate-Palmolive (CL), Kao Corporation, Clorox Inc, Church and Dwight Inc, Amorepacific Corporation, Avon Products, Pierre Fabre S.A Incorporated, Maison Kosé, Ursa Major, Nuxe, Herbivore Botanicals, OSEA Malibu, One Love Organics Inc, Kinship Inc., FarmHouse Fresh, DHC Corporation, cocokind Inc, Activist Skincare, True Botanicals
Botanical Cleansing Oil Market 2024 Key Insights:
• The botanical cleansing oil market size is expected to see rapid growth in the next few years. It will grow to $3.40 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%.
• Impact Of Cosmetics Industry Expansion On The Botanical Cleansing Oil Market
• Innovative Solid Cleansing Oils Drive Market Growth In Botanical Skincare
• Asia Pacific was the largest region in the botanical cleansing oil market in 2023
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