Jojoba Oil Derivatives Market set to record exponential growth by 2024

Global jojoba oil derivatives market is segmented on the basis of product type, application and region. Based on Product type, global jojoba oil derivatives market is segmented into lipids, esters, alcohol, wax, proteins, and others. Among these jojoba oil derivatives segments, lipids and wax segments contributes major market share. Based on the application, global jojoba oil derivatives market is segmented into cosmetic & personal care products ingredients, food, lubricants, waxes, other applications. Among these jojoba oil derivatives segments, cosmetic & personal care products ingredients contributes to higher market share in terms of value. On the basis of region, global jojoba oil derivatives market is segmented into five regions, North America, Latin America, Europe, Asia Pacific, Middle East and Africa.

North America and Europe is the leading market for jojoba oil derivatives due to increasing demand of surging alternative bio lubricant feedstock, rapid technological innovations, and high investment on research and development in these regions. Asia-Pacific is projected to grow at a substantial growth due to large consumer base, and high disposable income will contribute to the global jojoba oil derivatives market value exhibiting a robust CAGR during the forecast period, 2016-2024.

Jojoba oil is the liquid which is extracted from the seed of jojoba plant. Jojoba seeds are mainly produced in Arizona, California, and in Mexico. Jojoba seed can produce 50.0% of its weight of oil, which mainly contains free fatty acids like palmitic acid, stearic acid, oleic acid, arachidic acid, behenic acid, erucic acid, eicosenoic acid, lignoceric acid, and nervonic acid. Due to high content of free fatty acids in jojoba oil derivatives are beneficial for skin, due to which jojoba oil derivatives are mainly used in cosmetics and personal care products.

Jojoba oil is a liquid wax which composed of acids and contains no glycerides which makes it unique vegetable oil. Due to high nutrient properties of jojoba oil in comparison to other vegetable oil such as corn, olive, peanut, soybean and castor makes it healthy substitute.

Jojoba oil’s pureness, resistance to rancidity, and lack of smell, sort it as natural base for ointments and creams. Jojoba oil’s sulfurized or sulfurhalogenated derivatives can have high lubricity and a long performance life. Jojoba oil can also have positive use in antifoaming agents, detergents, disinfectants, driers, emulsifiers, fibers, plasticizers, protective coatings, resins, and surfactants.

The factors driving the jojoba oil derivatives market are significant growth in overall cosmetic industry, increasing alternative bio lubricant feedstock demand particularly in developed markets of North America and Europe, high nutritional value of jojoba oil derivatives, and Increasing concern regarding side effects of chemicals and synthetic additives used in food and beverages and in cosmetics is fuelling demand for natural alternatives like jojoba oil derivatives in the market.

However, long-term jojoba oil production varies on the regular supply of resources and capabilities to replace industrial oil with various applications at comparable price. Production yield of the crop highly varies on the farming method. The seeds takes more than five years to become completely accessible. This possibly will act as a major barrier for the market.

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The global jojoba oil derivatives market is anticipated to expand at a healthy CAGR in terms of value and volume, during the forecast period (2016–2024). Factors such as increasing urge of the consumers for living a healthy lifestyle, coupled with increasing alternative bio lubricant feedstock demand, is fuelling the market growth across the globe.

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Some of the key participating player in global jojoba oil derivatives market are Vantage Specialty Ingredients, Inc., Charkit Chemical Corporation, ECO OIL ARGENTINA, Desert Whale Jojoba Company, Purcell Jojoba International, Egyptian Natural Oil Co., Mosselman s.a, LaRonna Jojoba Company, and others.

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