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The Global Cosmetic Oil Market size is projected to increase by USD 1.86 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 5.08% between 2022 and 2027.
The increasing demand for natural and organic cosmetics is a major factor driving the market growth. The rising awareness about problems caused by synthetic beauty and personal care (BPC) products has increased the demand for natural and organic cosmetic oil. The continuous use of synthetic cosmetic oil can cause various hair-, skin-, and health-related issues, such as skin irritation, skin allergies, chemical burns, and various hormonal disorders. Organic cosmetic oils are made from natural and organic ingredients, such as plant extracts and natural oils. Other natural ingredients used in organic cosmetic oils include aloe vera, sea salt, jojoba seed oil, apricot kernel, beeswax, almond oil, coconut oil, and avocado oil. Manufacturers are focusing more on organic cosmetic oil. This expansion of product lines also helps companies differentiate their offerings. These organic cosmetic oils adhere to the high standards of purity set by various regulatory bodies in different countries.
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This market report extensively covers market segmentation by distribution channel (offline and online), source (vegetable oil and mineral oil), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
The market segmentation by source consists of vegetable and mineral oil. The growing awareness of healthy skin among individuals increases the demand for vegetable oil globally. The eco-friendly nature and moisturizing properties of vegetable oil increase its adoption in cosmetics products as an alternative to mineral oils. The most commonly used vegetable oil in cosmetics applications includes olive, coconut, cosmetic, and palm oil. The increase in the demand for natural ingredients in the production of cosmetics is expected to increase the demand, which in turn will boost the growth of the market during the forecast period.
The market segmentation by distribution channel consists of offline and online. The market share growth of the offline segment will be significant during the forecast period. Organized retailing, which includes hypermarkets and supermarkets as two of the major offline distribution channels, eases the purchasing process for consumers. Consumers can choose from a wide range of products in retail stores based on parameters such as price and quality. The ease of availability of products across platforms and the easy accessibility to outlets with a broad merchandise mix is estimated to drive this segment during the forecast period.
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The offline segment was valued at USD 3.20 billion in 2017 and continued to grow until 2021. Offline channels include hypermarkets, supermarkets, and grocery and convenience stores. One of the major factors expected to drive the growth of the segment is the expansion of hypermarkets and supermarkets worldwide. They help in improving the visibility of vendor products and increase the demand for such products. These stores are convenient for individuals who prefer the traditional way of shopping.
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APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC has emerged as a growing segment for cosmetic oil due to factors such as increasing awareness among consumers about the side effects of harmful substances used in cosmetics products, such as synthetic chemicals. Cosmetic oil is steadily becoming one of the most popular products for use for skincare in APAC. People in the APAC are increasingly becoming aware of the several skincare benefits. Cosmetic oil is considered to be beneficial for every skin type. The growing awareness of healthy and glowing skin results in the increased use of a wide range of cosmetic oil in the region.
The market is thriving amidst escalating skincare requirements, driven by concerns over air pollution's impact on skin health. Consumers are increasingly turning to clean and natural beauty products with moisturizing, barrier-enhancing, and anti-aging properties. Key players like chamomile and lavender oils align with the clean beauty movement, offering protection against UV radiation and pollution. Coconut, olive, almond, and other oils cater to a wellness-centric approach, emphasizing essentials and organic elements. In this pursuit of safe, sustainable, and effective beauty products, consumers demand transparency in ingredient sourcing and manufacturing processes, shunning synthetic chemicals like parabens and sulfates. Health-conscious and environmentally aware consumers are turning to social media, beauty blogs, and global cosmetic oil markets for guidance, propelling the industry forward.
The emergence of Bio-Oil is notably driving the market growth, although factors such as the increasing availability of counterfeit products may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
The emergence of Bio-Oil stands as a pivotal factor bolstering market growth in the realm of skincare. Comprising mineral, sunflower seed, rosemary, chamomile, lavender, vitamin E, marigold extract, and soybean oil, bio-oils offer a plethora of benefits for various skin concerns. These ingredients play a crucial role in addressing issues such as stretch marks and hyperpigmentation across different skin tones while aiding in moisture retention, thus promoting skin health. The plant-based components present in bio-oils deliver hydration and contribute to the reduction of wrinkles, imparting a plump appearance to the skin. Such attributes elevate the demand for bio-oils among consumers, fueling market expansion within the forecast period.
The increasing availability of counterfeit products is the major challenge impeding the market growth. Customers face difficulties in distinguishing between genuine and counterfeit products as they appear similar. The advent and growing penetration of e-commerce have further propelled the sales of counterfeit cosmetic products as it has widened the geographical reach of manufacturers offering counterfeit products.
Further, the low pricing of counterfeit products fuels their demand. The growing number of counterfeit products will have an adverse impact on the sales and pricing strategies of genuine Companies operating in the global market. To meet such challenges, global players are compelled to price their products at lower rates, reducing their profit margins and also the value sales proportion of the market. Therefore, the increasing availability of counterfeit products will negatively impact the growth of the market during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market is witnessing exponential growth driven by evolving skincare requirements amid escalating concerns over air pollution's adverse effects on skin health. Consumers increasingly opt for clean and natural beauty products, emphasizing barrier-enhancing and anti-aging properties. Key segments like chamomile and lavender oils align with the clean beauty movement, offering protection against UV radiation and pollution. This wellness-centric approach prioritizes essentials like organic and natural elements while avoiding harmful additives like parabens and sulfates.
Health-conscious consumers seek safe, sustainable, and effective beauty products, driving demand for transparency in ingredient sourcing and manufacturing processes. From hair to lip care, addressing concerns like dryness, aging, and damaged hair, beauty studios offer personalized regimens through skincare consultations and educational workshops, leveraging word-of-mouth recommendations from beauty professionals to expand their global presence.
The market forecasting covers forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Cosmetic Oil Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.08% |
Market growth 2023-2027 |
USD 1,867.37 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.55 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 53% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AETHOS Essential Oils, AMOREPACIFIC Group Inc., Beiersdorf AG, Bramble Berry Inc., CHANEL Ltd., Dabur India Ltd., Farsali, Johnson and Johnson, Kao Corp., Khadi Natural, L Brands Inc., 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 |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Source
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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