Cosmetic Oil Market size is set to grow by USD 1.92 billion from 2024-2028, increasing demand for natural and organic cosmetics boost the market, Technavio

NEW YORK, June 19, 2024 /PRNewswire/ -- The global cosmetic oil market size is estimated to grow by USD 1.92 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 5.02%  during the forecast period. Increasing demand for natural and organic cosmetics is driving market growth, with a trend towards emergence of bio-oil. However, increasing availability of counterfeit products  poses a challenge. Key market players include AETHOS Essential Oils, AMOREPACIFIC Group Inc., Beiersdorf AG, Bramble Berry Inc., Chanel Ltd., Clariant International Ltd., Dabur India Ltd., Farsali, Johnson and Johnson Services Inc., Kao Corp., Khadi Natural, LG Corp., LOreal SA, Sanghvi Technologies Pvt. Ltd., Shiseido Co. Ltd., Sophim, The Body Shop International Ltd., The Procter and Gamble Co., Uncle Harrys Natural Products, and Unilever PLC.

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Market Driver

The global cosmetic oil market is experiencing significant growth due to the increasing popularity of Bio-Oil. This product, manufactured by Bio-Oil, is renowned for its ability to address various skin concerns. Its key ingredients, including mineral oil, sunflower seed oil, rosemary oil, chamomile oil, lavender oil, vitamin E, marigold extract, and soybean oil, contribute to improving the appearance of scars, stretch marks, and hyperpigmentation. Additionally, these plant-based oils retain skin moisture, keep it smooth, tone aging skin, and cosmetically reduce wrinkles. These factors collectively boost demand for Bio-Oil and the cosmetic oil market as a whole. 

The cosmetic oil market is experiencing significant growth with various segments showing promising trends. Vegetable oils like palm, olive, and sunflower oils are widely used due to their nourishing properties. Segments like skincare and hair care dominate the market. The use of essential oils for aromatherapy and wellness is also increasing. Cosmetic companies are focusing on producing organic and natural oils to cater to consumer preferences. The market is competitive with key players investing in research and development to introduce innovative products. The use of antioxidant-rich oils and those with anti-aging properties is on the rise. The urbanization and rising disposable income in developing countries are expected to boost the market further. 

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Market Challenges

• The cosmetic oil market experiences increasing demand due to growing consumer interest. However, this trend also fosters the production and sale of counterfeit cosmetic oils. These products, made with low-quality ingredients, pose health risks and are cheaper due to reduced production and transportation costs. E-commerce expansion widens their reach. Vendors of genuine cosmetic oils face challenges, including price competition and reduced profit margins from promotional activities. Developing markets, such as India and China, present opportunities but also significant competition from counterfeit products. This situation negatively impacts the global cosmetic oil market's growth.
• The cosmetic oil market faces several challenges. Key players include suppliers of argon, jojoba, coconut, and almond oils. Benefits such as moisturizing and anti-aging properties drive demand. However, high production costs and competition from synthetic alternatives pose significant challenges. Sustainability and ethical sourcing are also important considerations. Markets in Asia and Europe show strong growth. Producers must adapt to changing consumer preferences and regulatory requirements. Innovation in production methods and marketing strategies is essential to remain competitive. Skin types and individual needs influence consumer choices. Producers must cater to these diverse requirements to capture market share. Overall, the cosmetic oil market requires a strategic approach to address these challenges and capitalize on opportunities.

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Segment Overview 

This cosmetic oil market report extensively covers market segmentation by  

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Source 
• 2.1 Vegetable oil
• 2.2 Mineral oil
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline-  The cosmetic oil market is thriving, with various types such as jojoba, almond, and olive oils in high demand. Companies produce these oils for use in skincare and hair care products. Consumers prefer natural oils due to their beneficial properties. Market growth is driven by increasing health consciousness and the desire for chemical-free alternatives. Companies invest in research and development to improve oil extraction methods and create innovative products. The market is competitive, with numerous players vying for market share. Despite challenges, the future looks bright for the cosmetic oil industry.

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Research Analysis

The cosmetic oil market caters to the diverse skincare needs of both women and men, offering a range of options for nourishing the face and hair. Irritation and inflammation are common concerns, leading to the popularity of elixir oils, such as Almond oil and Coconut oil, known for their moisturizing and anti-inflammatory properties. Carrier oils, like Olive oil, are also in demand due to their antibacterial and nourishing benefits. Influencers and consumers alike advocate for these oils to help avoid irritation, soothe rashes, and address issues like wrinkles, enlarged pores, and skin acne. Hair care products, including body lotions, creams, and exfoliating agents, also incorporate these oils for their nourishing and anti-inflammatory properties. Makeup can also benefit from the use of these oils, enhancing the overall appearance and health of the skin.

Market Research Overview

The Cosmetic Oil Market encompasses a wide range of products derived from various plant and mineral sources. These oils are integral to the cosmetics industry due to their moisturizing, protective, and nourishing properties. The market is segmented based on type, including essential oils, carrier oils, and infused oils. Each type caters to specific cosmetic applications, such as skincare, haircare, and aromatherapy. The market is driven by factors like increasing consumer awareness of natural and organic products, rising disposable income, and the growing popularity of DIY cosmetics. The future outlook is promising, with innovations in production techniques and the introduction of new oil varieties expected to fuel growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Source
• Vegetable Oil
• Mineral Oil
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio