The cosmetic oils market size is projected to reach US$ 5.26 billion by 2031 from US$ 8.40 billion in 2023. The market is expected to register a CAGR of 6.0% during 2023–2031. The increasing adoption of organic ingredients in cosmetics is likely to remain a key trend in the cosmetic oils market.
Cosmetic Oils Market Analysis
In recent times, health and skin care awareness has increased significantly among consumers worldwide. In the quest to appear youthful with healthy hair and radiant skin, consumers are willing to spend a tremendous amount on skincare and haircare products. The image-focused society further pressurizes people to work on their appearance in social settings. As per the data published in L'Oréal's 2020 annual report, a growth rate of 8% in 2019 was witnessed in the global beauty markets. These scenarios compel people to find the best available products for their skin type. As cosmetic oils are among the major ingredients used in these products, the demand for cosmetic oils worldwide will continue to propel in tandem with the growth of personal care and beauty products.
Cosmetic Oils Market Overview
Almond, coconut, and mineral oil are among the cosmetic oils widely used in the production of haircare and skincare products such as lotions, creams, hair oil, shampoos, and facial oil. Various properties, such as moisturizing, antimicrobial, and anti-inflammatory, of these oils boost the demand for cosmetic oil. Additionally, it is anticipated that the rising desire for natural and organic beauty products will increase the demand for cosmetic oils.
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Cosmetic Oils Market: Strategic Insights
Cosmetic Oils Market
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CAGR (2023 - 2031)
6.0%
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Market Size 2023
US$ 8.40 Billion
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Market Size 2031
US$ 5.26 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- SOPHIM IBERIA S.L
- Maverik Oils
- RENKERT OIL
- Lebermuth, Inc
- OLVEA Vegetable Oils
- Cargill, Incorporated
- Vigon International, LLC
- Young Living Europe B.V.
- Sonneborn LLC
- ADM
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Mineral Oil
- Olive Oil
- Coconut Oil
- Argon Oil
- Jojoba Oil
- Avocado Oil
- Almond Oil
- Others
Category
- Organic and Conventional
Application
- Creams and Lotions
- BaOil
- Massage Oil
- Shampoo
- Hair Oil
- Make-up Products
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Cosmetic Oils Market: Strategic Insights
-
CAGR (2023 - 2031)6.0% -
Market Size 2023
US$ 8.40 Billion -
Market Size 2031
US$ 5.26 Billion
Market Dynamics
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- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- SOPHIM IBERIA S.L
- Maverik Oils
- RENKERT OIL
- Lebermuth, Inc
- OLVEA Vegetable Oils
- Cargill, Incorporated
- Vigon International, LLC
- Young Living Europe B.V.
- Sonneborn LLC
- ADM
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type - Mineral Oil
- Olive Oil
- Coconut Oil
- Argon Oil
- Jojoba Oil
- Avocado Oil
- Almond Oil
- Others
Category - Organic and Conventional
Application - Creams and Lotions
- BaOil
- Massage Oil
- Shampoo
- Hair Oil
- Make-up Products
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Cosmetic Oils Market Drivers and Opportunities
Strategic Development Initiatives by Key Market Players to Favor Market
Cosmetic oil manufacturers and end users worldwide are investing significantly in strategic initiatives such as product innovations, expansions, and mergers & acquisitions of their businesses to attract a large number of consumers and enhance their market position. For instance, Symrise Cosmetic Ingredients launched a 'Beauty Activations' brand accelerator project in May 2022 to work with cosmetics and personal care manufacturing companies in North America. Brands associated with Symrise will gain access to specialized formulas, comprehensive marketing data, and an award-winning assortment of ingredients via the Beauty Activations platform. Such product innovations by key players help create a strong foothold in the cosmetic oils market.
Increased Expenditure on Skincare and Makeup
The increasing purchasing power of consumers significantly influences consumers to spend more on skincare and makeup products. Further, the growing awareness of products supplemented with cosmetic oils that help improve the health of hair and skin accelerates the demand for such products. Thus, cosmetic oils are gaining significant traction in skincare and makeup products, owing to which lucrative opportunities for the market will continue to unveil in the upcoming years.
Cosmetic Oils Market Report Segmentation Analysis
Key segments that contributed to the derivation of the cosmetic oils market analysis are type, category, and application.
- Based on type, the cosmetic oils market is divided into mineral oil, olive oil, coconut oil, argon oil, jojoba oil, avocado oil, almond oil, and others. The mineral oil segment held the largest market share in 2023.
- By category, the market is segmented into organic and conventional. The conventional segment held a larger share of the market in 2023.
- In terms of application, the market is categorized into creams and lotions, baby oil, massage oil, shampoo, hair oil, make-up products, and others. The hair oil segment dominated the market in 2023.
Cosmetic Oils Market Share Analysis by Geography
The geographic scope of the cosmetic oils market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
The cosmetic oil market in North America is significantly growing with the thriving personal care and cosmetic industries. Further, there is a growing trend of using natural, vegan, and organic cosmetic products in the region due to an increasing preference for chemical-free products, which tends to increase the sales of natural and organic cosmetics oils. Increasing cases of graying hair and early aging among the youth population due to lack of nutrition increases the sales of haircare and skincare products. Cargill, Incorporated, ADM, and Maverik Oils are among the well-established players in the cosmetics oils market in North America.
Cosmetic Oils Market Report Scope
Cosmetic Oils Market News and Recent Developments
The cosmetic oils market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion and strategies:
- LVMH, Henkel, Natura & Co., Unilever, and L'Oreal collaborated in order to establish a method for ranking and assessing the environmental effects of the cosmetics industry. (Source: Natura & Co, Press Release, 2021)
- Symrise Cosmetic Ingredients entered a strategic partnership with Kobo to expand the cosmetic business. (Source: Symrise, Newsletter, 2021)
Cosmetic Oils Market Report Coverage and Deliverables
The “Cosmetic Oils Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Cosmetic Oils Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 8.40 Billion |
| Market Size by 2031 | US$ 5.26 Billion |
| Global CAGR (2023 - 2031) | 6.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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