Published Date : 27 Jul 2023
The global cosmetic oil market size surpassed USD 9.71 billion in 2022 and it is expected to hold around USD 24.4 billion by 2030, anticipated to grow at a CAGR of 12.21% between 2022 and 2030.
In the form of hair oil, elixir oil, and face oil, cosmetic oil is frequently utilized in the formulation of skin and hair care products. Almond, coconut, and essential oils are examples of F oil. The antibacterial, hydrating, and anti-inflammation qualities of these oils assist to prevent hair loss and also aid in stress reduction when used in hair massage. In fiberglass, lip balm, moisturizers, and serum for hair and skin care products, cosmetic oils play a vital role.
Since they are chemical-free and have no or fewer adverse effects on the skin, consumers are choosing natural and organic cosmetic products for hair and skincare. Argon oil, Moroccan oil, Jojoba oil, olive oil, rosehip oil, apricot kernel oil, and black seed oil are just a few of the several kinds of cosmetic oils that are available. To moisturize and nourish skin and hair, use coconut oil, jojoba oil, and macadamia oil. Cosmetic oils provide a number of advantages, including the ability to heal sunburn, prevent dandruff, treat acne, enhance the quality of the skin, protect the skin, prevent wrinkles, and treat acne. They are also rich in antioxidants and antibacterial qualities.
According to the source, the market share of the vegetable oil segment will increase over the next few years, and the amount of money made from this product will increase as well. Due to the increased need for vegetable oil in cosmetic applications, this market is expanding at the quickest rate. Avocado, almond, palm, coconut, and other types of vegetable oils, as well as essential oils, are frequently utilized in cosmetic products because of their capacity to cure and protect the skin. Vegetable oil is used more frequently in cosmetics due to growing public knowledge of its skin-friendly properties. Additionally, expanding the use of novel vegetable oils in cosmetic products will encourage the market share for cosmetic oils. Due to their diverse biological functions and desirable technical traits like easy skin absorption and exceptional spreadability, vegetable oils have also drawn a lot of attention.
On the basis of application, the hair care segment has the biggest market share in the cosmetic oil market during the forecast period. Due to expanding hair-related problems, rising air pollution, quick urbanization, and rising use of organic and natural hair oil and shampoo, the hair care sector held the largest market share.
Cosmetic Oil Market Report Scope:
|Market Revenue in 2023||USD 10.89 Billion|
|Projected Forecast Revenue in 2030||USD 24.4 Billion|
|Growth Rate from 2022 to 2030||CAGR of 12.21%|
|Largest Market||North America|
|Forecast Period||2022 To 2030|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa|
The biggest market share was held by North America in the cosmetic oil market during the forecast period. It is anticipated that the market for cosmetic oils in North America would grow quickly as a result of changing lifestyles and busy work schedules, which are driving up demand for inventive and multifunctional cosmetic products. New growth potential will also be created by the innovation and R&D efforts made for the development of new goods, as well as by the presence of large cosmetic enterprises in the area. The prevalence of early ageing and hair greying, especially among young people, will increase, driving up sales of hair care products across North America. In addition, a key driver of the expansion of the cosmetic oil market throughout the course of the anticipated period is the usage of vegetable oils in everyday and personal care goods.
Due to growing consumer concerns about the ingredients used in cosmetics, the natural and organic cosmetics sectors are expected to experience significant growth in the years to come. By developing a variety of essential oils as well as hair and facial pressure oils, businesses like Innisfree, Farsali, Khadi, and Boutique are attempting to prosper in the cosmetic oil market. The market demand is expected to be further fueled by the rise in skin problems brought on by factors such as pollution, hormonal imbalances, hereditary abnormalities, and other factors. Globally rising disposable incomes will encourage the growth of the cosmetics business, which will further increase product demand. The growing use of hair oils and shampoos to treat hair loss issues will support the growth of the cosmetic oil industry.
Additionally, rising usage and awareness of online platforms are giving the market expansion prospects. In response to customer demand, manufacturers are offering a variety of products like normal skin products, sensitive skin products, and if people are facing any issues like dandruff, dry scalp, etc. so according to that also products are available, which is a great opportunity for the growth of the market. People are becoming more health-conscious, so they have started using the products according to their skin type.
Cosmetic formulas frequently contain synthetic ingredients, which may have a range of unfavorable side effects. Because the price of raw materials is greater, organic products are more expensive. Consequently, this factor hinders the market's expansion.:
Nowadays, people are more inclined to utilize cosmetics to make themselves seem better. The need for male-specific cosmetic oils is rising. Younger men deal with a variety of problems, such as hair loss, coarse hair, and more. All of these problems may be treated with the use of appropriate cosmetic oils and knowledge on how to utilize the proper cosmetic oils. Because of this, there is a lot of room for the growth of cosmetic oils, especially ones that cater to men.
Mineral oils have the potential to block pores and raise the danger of acne and blackheads. Even the most refined Mineral Oil will seal in germs on the skin or use a product with additional components that might clog pores, increasing the likelihood of outbreaks. This oil produces a physical barrier over skin to limit moisture loss.
Key Market Players:
By Industry Vertical
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