The cosmetic oil market is anticipated to expand its roots at a steady CAGR of 12.21% during the forecast period. The market is likely to hold a revenue of USD 10.9 billion in 2023 while it is anticipated to cross a value of USD 34.49 billion by 2033.
The research report on the cosmetic oil market states the long range of benefits of cosmetic oil against skin conditions like sunburn, wrinkles, and acne. Furthermore, the organic texture, local smells, and integration of natural additives improve the oil medicinal properties of the oil. The advent of new cosmetic brands focusing on the application of organic and natural elements is fuelling the demand for cosmetic oil.
The growing awareness through different channels such as social media, and skincare awareness workshops are pushing end-users to add these cosmetic oils as an essential to their skincare products. Alongside this, other cosmetic oil benefits involve clear, moisturized, and wrinkle-free skin. People with dry skin, flaky skin, and rough skin are suggested to apply cream, serum, or oil on their faces.
The expanding beauty studios across the globe as a leading business model is also fuelling the demand for cosmetic grade oils. These beauty studios use cosmetic oils as the perfect primer for makeup, hydrating the crucial spots
Market analysis explains that the focus on organic and natural elements while producing cosmetic oils is associated with the transformation of the beauty and cosmetics industry. Furthermore, the growing awareness of skincare, skincare requirements, and increasing air pollution are the factors fueling the application of cosmetics oil.
The idea of gender-neutral cosmetic products is also spreading awareness around skincare across the regions. There is an advent of natural oil in cosmetics such as coconut oil, olive oil, shea butter, jojoba oil, and sunflower seed oil. All these factors boost the demand for cosmetic oil across the globe.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 12.21% |
| Market Size (2023) | USD 10.9 billion |
| Market Size (2033) | USD 34.49 billion |
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Short-term Growth (2023 to 2026): There is high demand for organic and natural compositions in cosmetic products. Furthermore, the expansion of the beauty and cosmetic industry is flourishing the demand for cosmetic oils as well. Hence, the market is expected to hold USD 10.9 billion in 2023 while it is likely to reach USD 15.40 billion by 2026.
Mid-term Growth (2026 to 2029): New products and experimentation with natural oil in cosmetics are transforming the cosmetic oil market during the forecast period. The amalgamation of herbal medicines and high-in-vitamin elements with natural oils is increasing the demand for cosmetic oils. This takes a market value from USD 15.40 billion in 2026 to a value of USD 21.76 billion by 2029.
Long-term Growth (2029 to 2033): The social media influencers promoting the latest cosmetic oils for better skin health and anti-acne properties are expected to garner market growth. With the rising number of body & skincare studios across the globe, the application of natural oil in cosmetics is flourishing the sales. Thus, the market is anticipated to thrive at a steady CAGR of 12.21% between 2023 and 2033.
The call for enhanced beauty and cosmetic products such as makeup gear, personal care creams, lotions, serums, and oil is making the market space flexible. The market has become more accepting of new additives such as herbal and organic elements.
The extended research and development programs are bringing new opportunities for the market. New benefits such as anti-wrinkles, ant-acne, and hydration delivery are pushing the demand for cosmetic oil. Furthermore, Long range beauty studios also use these essential oils as the primer before the makeup.
The vendors enhancing the quality, texture, and smell according to the skin type is also a unique approach that market players adopt. The rising sales of natural cosmetics also garner new opportunities for the market players.
Some of the key restraints for the Cosmetic Oil market are its alternatives, lack of awareness, and high-priced products. Moreover, the usage of chemicals and unnatural agents also limits end users from buying these cosmetic oils. The high inflation and lack of employment are also restricting people from investing money in personal care products.
A High Number of Working Women along with the Launch of Gender-Neutral Cosmetic Products are Garnering the Regional Growth
The North American cosmetic oil market leads the space in terms of market share. The growth is attributed to the transforming lifestyle, busy work schedules, and gender-neutral cosmetic solutions. Furthermore, extending research and development facilities introducing herbal cosmetic oils and serums, and introducing natural oil in cosmetic products is also propelling the market share.
A higher number of working professionals is also increasing the adoption of cosmetic oil as it is used as the primer for makeup.
Rising Urbanization, Herbal Makeup Products, and Increasing Air Pollution is Driving the Market Growth in the Region
Asia Pacific region is anticipated to fuel at a CAGR of 5.8% between 2023 and 2033. The boom in the demand is attributed to the expanding urbanization and corporate culture. The increased pollution and prevalent skin issues are also pushing end-users to adopt these cosmetic products.
The usage of natural oils with multi-purpose properties is also garnering market growth. More than 80% of the total Asia-pacific market size is covered by China, Japan, India, and South Korea. Moreover, the expanding corporate structure influencing the dressing style, and application of cosmetic products is propelling market growth further.
Social Media Influence, the Presence of Major Cosmetic Brands, and Expanded Show Businesses are flourishing the Market Growth
The United Kingdom is another significant market for cosmetic oil. Booming show businesses along with an increasing number of beauty and transformation studios are bolstering the market growth. Furthermore, the changing lifestyle and application of cosmetic oil in hair treatment, skin-issues such as acne, dry skin, etc. are influencing the demand for cosmetic oil in the market
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| Category | Leading Segment |
|---|---|
| By Source | Vegetable Oil |
| By Application | Hair Care |
Based on source type, the vegetable oil segment leads as it held a leading market share in 2022. The growth of this segment is attributed to the easy extraction of oil through avocado, almond, palm, and other types of vegetables. Moreover, the high demand for herbal and natural products is fueling the demand for the vegetable oil segment. The affordable pricing of this source is also a propelling driver for the segment.
Based on the application, the hair-care segment held a significant share in 2022. The growth is attributed to the high effect of air pollution on the hair along with people getting aware of scalp nutrition. This has given birth to a long range of products such as serums, oil, and conditioners.
The key players focus on launching advanced hair care cosmetic oil while increasing the herbal and green content in it. Furthermore, the key players add new fruit flavors to these cosmetic oil products that have become a trend in the market space. The combo of these oils along with the flavored soaps is also becoming popular among cosmetic enthusiasts.
How can Cosmetic Oil Manufacturers Providers Scale their Businesses in the Market?
Market players in the market are working on five key strategies including:
Market Developments:
The growth potential of the market is 12.21% through 2033.
The United States holds high lucrativeness.
Increasing working women fuels the United States market growth.
Asia Pacific is anticipated to develop at a CAGR of 5.8% by 2033.
Rising inclination toward personal grooming drives sales.
| Market Size (2022) | USD 1,768.0 Million |
|---|---|
| Market Size (2032) | USD 3,226.5 Million |
| Value CAGR (2022 to 2032) | 6.2% |
| Projected Market Value (2022) | USD 15.89 Billion |
|---|---|
| Anticipated Market Value (2032) | USD 26.84 Billion |
| Global CAGR (2022 to 2032) | 5.4% |
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Cosmetic Oil Market
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