Press release
Petroleum Jelly: A Leading Driver Behind Impact Of Rising Demand For Cosmetic Procedures On The Petroleum Jelly Market Market Expansion in 2025
Petroleum Jelly
What Will the Petroleum Jelly Industry Market Size Be by 2025?
The scale of the petroleum jelly market has been seeing significant growth in recent times. It is set to expand from $1.37 billion in 2024 to $1.45 billion in 2025, boasting a CAGR of 5.4%. The previously seen growth is mainly due to its industrial applications, its utilization in the medical and pharmaceutical sectors, the expansion of the cosmetics industry, consumer knowledge and preferences, and the regulatory atmosphere.
What's the Long-Term Growth Forecast for the Petroleum Jelly Market Size Through 2029?
Anticipations indicate a solid enlargement in the petroleum jelly market over the upcoming years, with projected growth to $1.77 billion by 2029, progressing at a Compound Annual Growth Rate (CAGR) of 5.1%. This robust development during the forecast period can be traced back to elements like regulatory conditions, introduction of sustainable and eco-friendly merchandise, health and wellness trends, a pivot towards natural and organic items, and the global pandemic's impact. Key trends predicting this period encompass technological progression, the grandeur of digital marketing and e-commerce, product innovation and development, escalating demand for skincare products, and unique product compositions.
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What Are the Key Growth Drivers Fueling the Petroleum Jelly Market Expansion?
The upsurge in cosmetic procedures is foreseen to fuel the petroleum jelly market's advancement. These procedures, surgical or non-surgical, aim to magnify or modify an individual's aesthetic, thus intensifying the demand for petroleum jelly. This versatile product is commonly employed in these procedures, functioning to prime the surgical site with a slender layer before cosmetic surgery, and to aid in scar healing post-surgery. For instance, the British Association of Aesthetic Plastic Surgeons disclosed that around 31,057 cosmetic Procedures were conducted in the UK in 2022. This figure marks an escalation of 102% from 2021, hence, affirming that the growth of the petroleum jelly market is amplified by the flourishing demand for cosmetic procedures. Petroleum Jelly Market Driver: Amplifying Demand from Pharmaceutical Sector Stimulating Market Growth
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What Are the Key Trends Driving Petroleum Jelly Market Growth?
Key players in the petroleum jelly market are strategizing to develop novel products, such as petroleum jelly fortified with vitamin E, to offer dependable services to their clients. This type of petroleum jelly, enriched with vitamin E, aids in shielding the skin from damage due to harmful free radicals. To cite an example, Vaseline, a brand under the UK-based consumer goods corporation Unilever Plc, launched a new body care product, Vaseline Radiant X, in September 2023. This offering, which features high-end skincare components usually found in facial care products, was formulated to cater specifically to the skincare needs of Black and Brown complexions, targeting issues like moisture disparity, dark patches, and uneven skin tone.
How Is the Petroleum Jelly Market Segmented?
The petroleum jelly market covered in this report is segmented -
1) By Product Type: White Petroleum Jelly, Yellow Petroleum Jelly, Other Products
2) By Grade: Pharmaceutical Grade, Cosmetic Grade, Industrial Grade
3) By End User Industry: Pharmaceutical, Cosmetics And Personal Care, Shipping, Leather, Telecommunication, Other End User Industries
Subsegments:
1) By White Petroleum Jelly: Cosmetic Grade, Pharmaceutical Grade
2) By Yellow Petroleum Jelly: Industrial Grade, General Purpose
3) By Other Products: Flavored Petroleum Jelly, Specialty Formulations
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Which Companies Are Leading the Charge in Petroleum Jelly Market Innovation?
Major companies operating in the petroleum jelly market report are Exxon Mobil Corporation, Shell Inc., Petróleo Brasileiro S.A., PJSC LUKOIL, Repsol S.A., Unilever PLC, Sasol Wax Group, Teva Pharmaceuticals Inc., H&R Group, Sonneborn LLC, Nippon Seiro Co. Ltd., Bliss GVS Pharma Ltd., Polwax SA, Calumet Specialty Products Partners LP, Blistex Inc., Eastern Petroleum Pvt. Ltd., Raj Petro Specialities Pvt. Ltd., Sovereign Chemicals & Cosmetics, Kerax Limited, Vasa Cosmetics Private Limited, Persia Paraffin, Unisynth Group, ShimiTaghtiran Company, Unicorn Petroleum Industries Pvt Ltd., KK India Petroleum Specialities Pvt.Ltd., Nexton Lubricants
Which Regions Are Leading the Global Petroleum Jelly Market in Revenue?
North America was the largest region in the petroleum jelly market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the petroleum jelly market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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