USD 6.94 Billion
Report ID: SQSG30L2026 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Cosmetic Oil Market was valued at USD 6.94 Billion in 2021, and it is expected to reach a value of USD 8.89 Billion by 2028, at a CAGR of more than 3.6% over the forecast period (2022-2028).
Cosmetic oils are carrier oils that are a key component of many hair and skin care products as well as moisturizers, serums, lipsticks, and lip balms. Cosmetic oils have benefits for skin protection including calming rashes, minimizing wrinkles, and constricting enlarged pores to lessen the likelihood of skin acne. Additionally, they are utilized in the creation of cosmetic items such as body lotions, creams, exfoliating agents, and makeup.
The coconut oil product segment is expected to increase favorably throughout the projected period due to strong demand in the Asia Pacific region, particularly India. These oils have a wide range of applications in the cosmetics sector and are probably going to experience strong demand from nations like South Korea, India, and Japan. Many well-known and newer brands have started using coconut oil because of its natural qualities.
Olive oil is also anticipated to be a segment with strong growth. The segment is experiencing a healthy demand as a result of the distinct anti-inflammatory properties of this product. Olive oil and six oil-fed oil-in-cream are the key ingredients in a line of hair spa products by L'Oréal SA (EPA: OR).
Global Market Size
USD 6.94 Billion
more than 3.6% CAGR
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The Global Cosmetic Oil Market is segmented based on the Product, Function, application, sales channel, and region. Based on the Product, the Global Cosmetic Oil Market is segmented as Olive, Almond, Coconut, Essential, and Others. Based On Function, the Global Cosmetic Oil Market is segmented as Skin Conditioning, Moisturizing, Hair Conditioning, and Others. Based on application, the market is segmented into haircare, skincare, and lip care. Based on sales channel, the market is segmented into offline and online. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Product
Due to substantial demand from the APAC region, particularly India, the coconut oil product sector is anticipated to increase favorably throughout the projection period. These oils have a wide range of beauty sector applications, which has led to an increase in demand from nations including South Korea, India, and Japan. Due to its natural qualities, coconut oil is now used by numerous well-known and up-and-coming firms. For instance, Farsali produces facial oils, a popular item among make-up artists all around the world. A CAGR of 5.5% is predicted for olive oil, making it the second-fastest-growing product category throughout the projection period. Due to this product's distinct anti-inflammatory characteristics, there is a strong demand for it, which is the cause of this increase.
Analysis by Function
Global Cosmetic Oil market has been segmented on the basis of end user as Skin Conditioning, Moisturizing, Hair Conditioning and others. Among these, by 2027, the global market for skin conditioning and moisturizing cosmetic oils is anticipated to grow to a size of over USD 4.05 billion. By restoring suppleness and lowering flaking, cosmetic oils are used as skin conditioners to improve the appearance of dry and damaged skin.
Due to the growing number of skin issues brought on by hereditary disorders, pollution, hormonal imbalance, and other factors, among others, skin conditioning and moisturizing is the market category with the quickest growth. The market for cosmetic oils will see an increase in revenue due to rapid urbanization, rising pollution levels, and growing consumer awareness of various skin care products.
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The market for cosmetic oils in North America is predicted to increase rapidly and surpass US$ 1.75 billion in value by 2027 as a result of the rising demand for innovative, multifunctional cosmetic products brought on by changing lifestyles and hectic work schedules. Additionally, the innovation and R&D carried out for the development of new products together with the presence of significant cosmetic companies in the region will create new growth potential. The sale of hair care products will increase as incidences of early ageing and hair greying rise, particularly among young people due to inadequate nutrition and other vitamins. over all of North America. Additionally, the use of vegetable oils in everyday and personal care products is a major factor in the growth of the cosmetic oil market during the course of the forecast period.
Also, with leading-edge advancements in the cosmetics sector and extensively used South Korean-made products, South Korea is one of the world's top cosmetics marketplaces.
Korean beauty enterprises have entered the international market as a result of the enormous interest in K-beauty products among customers in the United States and Europe. Koreans favour locally manufactured goods because they are just as high-quality as imports from the US and Europe, but they are less priced. This has helped the growth of local players as well as the expansion of their market.
The price differential between luxury and mass-produced goods as well as product promotion are the main causes of the increased demand for these cosmetic oils. Due to this, demand for K-beauty products has increased globally, especially in US and Europe.
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Global Cosmetic Oil market is relatively fragmented, with a high level of competition. Companies in the industry are using a variety of methods, including the introduction of novel components into products, the creation of regional and global distribution networks, collaborations, and acquisitions.
The crucial producers and providers in the sector are concentrating on establishing long-term alliances with end customers in order to seize the current commercial opportunity. More importantly, new market entrants are providing reasonably priced cosmetic oils that give the whole spectrum of skin benefits that a potential customer seeks. Customers' interest in this company has ignited, leading to a rapid growth in size.
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According to our Global Cosmetic Oil Market Analysis, in terms of function, The cosmetic oil market has been segmented into categories for skin conditioning and moisturizing, hair conditioning, and others based on function. Over the projected period, the others function category is anticipated to expand at a CAGR of almost 4.6%.
|Market size value in 2021||USD 6.94 Billion|
|Market size value in 2028||USD 8.89 Billion|
|Growth Rate||more than 3.6%|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Cosmetic Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cosmetic Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cosmetic Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Product ID: SQSG30L2026