Press release
Petroleum Jelly Market Expansion Outlook: $1.73 Billion in 2029
Petroleum Jelly Market
What Is the Projected CAGR for the Petroleum Jelly Market from 2024 to 2025?
Over the previous years, the market size of petroleum jelly has seen a consistent increase. The growth trajectory forecasts a rise from $1.37 billion in 2024 to $1.43 billion in 2025, calculated at a 4.0% compound annual growth rate (CAGR). This progression throughout the historic period is linked to factors like industrial applications, implications in the medical and pharmaceutical fields, expansion of the cosmetics industry, evolving consumer awareness and preferences, and the regulatory landscape.
What are the Expected Market Size and CAGR for Petroleum Jelly by 2029?
The market size for petroleum jelly is estimated to witness consistent expansion in the coming years, with a projected value of $1.73 billion in 2029, growing at a compound annual growth rate (CAGR) of 4.9%. Causes for this growth during the forecast period include factors like regulation norms, eco-conscious and sustainable products, health and wellness inclinations, the shift towards products that are natural and organic, as well as the effects of the global pandemic. Significant trends during the forecast period include advancements in technology, the rise of digital marketing and e-commerce, innovative product creation, a surge in skincare product demand, and novel product formulations.
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Which Factors Are Driving the Global Petroleum Jelly Market Expansion?
The growth of the petroleum jelly market is expected to be driven by increasing demand for cosmetic procedures. These interventions, whether medical or non-medical, seek to modify or embellish an individual's visual appeal to achieve a particular aesthetic result. Petroleum jelly, a flexible compound, is often utilized in these procedures for its ability to shield operative areas with a thin petroleum jelly layer before surgery or to treat scar tissue following a surgical intervention to augment beauty on operated wounds or surgical cuts. For instance, a report by the British Association of Aesthetic Plastic Surgeons issued in March 2023 demonstrated that roughly 31,057 cosmetic procedures were conducted in the UK in 2022, reflecting a 102% increase from 2021. Hence, the burgeoning demand for cosmetic interventions is fuelling the petroleum jelly market's expansion.
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Which Segment Currently Holds the Largest Share of the Petroleum Jelly Market?
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
Which Major Trends Are Shaping the Future of the Petroleum Jelly Industry?
Leading firms in the petroleum jelly market are prioritising the development of ground-breaking products, such as petroleum jelly infused with vitamin E, to offer dependable services to their clientele. This particular type of petroleum jelly, enhanced with vitamin E, serves to defend the skin against damage from free radicals. As an example, Vaseline, a skincare range under the umbrella of Unilever Plc, a consumer goods company based in the UK, introduced Vaseline Radiant X in September 2023. This new body care line incorporates high-end skincare components usually reserved for facial care and is tailored to meet the distinct requirements of Black and Brown skin. It aims to address issues such as moisture disparity, dark spots, and inconsistent skin tones.
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Which Key Players Dominate the Petroleum Jelly Industry Globally?
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
What Are the Fastest-Growing Regions in the Petroleum Jelly Market?
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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