The global skincare oil market is expected to capture a CAGR of 6.3% during the forecast period due to increasing demand for face oil that can soften wrinkles and acne scars. The market value is projected to increase from USD 19.91 billion in 2024 to USD 34.56 billion by 2034. The skincare oil market was valued at USD 18.83 billion at the end of 2023.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2023 | USD 18.83 billion |
| Market Value 2024 | USD 19.91 billion |
| Market Value 2034 | USD 34.56 billion |
| CAGR 2024 to 2034 | 6.3% |
| Market Share of Top 5 Countries | 57.0% |
| Key Market Players | Shiseido; Procter & Gamble Co.; Burberry Group Plc.; Unilever; L’Oréal; Beiersdorf AG; Avon Products; Inc.; Estée Lauder Companies; Amway; Chanel S.A.; Johnson & Johnson; Chatters Canada; Kao Corporation; Henkel; Edgewell Personal Care; Markwins Beauty Products; Mary Kay; Coty and Marchesa. |
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The market for skincare oil has grown at a CAGR of 5% from 2019 to 2023, driven by the presence of multiple key players in the market, the rising cases of diabetes, thyroid, and kidney disease, which bring dryness to the skin, and with it and rising aging population. In 2022, the market for skincare oil represented 35.3% of the total global cosmetic oil market of USD 53.6 billion.
The skincare oil industry is getting moisturized due to the growing demand for bio-oils that can prevent acne and reduce inflammation. The increasing attraction toward premium products due to their packaging further gives them an edge-cutting look over others.
Sensitive skin conditions are also a key concern among the population, which fuels the demand for organic and herbal products. The key manufacturers are bringing in new products that contain no to less harmful chemicals or ingredients. Moreover, several manufacturers have started reformulation of the products to make them more authentic for eco-conscious consumers.
For instance, in August 2021, Bio Oil’s skincare oil was reformulated entirely with 100% plant oil extract. Similarly, many other manufacturers are shifting from inorganic to organic ingredients. The increasing availability of resources is making the population concerned regarding the ingredients used; thus, manufacturers are now transparent about the ingredients.
Manufacturers are offering products that can be used by all skin types and come up with solutions for people with seasonal skin allergies. Thus, owing to the factors mentioned above, the global skincare oil market is projected to grow at a rate of 6.3% during the forecast period.
Consumers are increasingly seeking natural and organic skincare products, including skincare oils, due to concerns about the potential adverse effects of synthetic ingredients. This trend presents an opportunity for companies to offer high-quality and organic skincare oils.
Plant-based skincare oils, such as argan oil, jojoba oil, and rosehip oil, have gained popularity due to their natural properties and potential benefits for the skin. Companies can capitalize on this trend by offering a diverse range of plant-based skincare oils. The advancing skincare care industry and manufacturers developing organic products are presenting growth opportunities for new and established market players.
The rise in environmental changes is also worsening the weather conditions. The sudden changes in the environment due to global warming make the weather extremely cold and extremely hotter than the usual conditions. This range of temperature impacts the skin and makes it dry. Thus, the rise in temperature fluctuation is increasing the demand for skincare oil.
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The high price of premium and branded products to maintain its standard restrains the market growth. Moreover, the pricey products designed for certain skin types, allergies, and weather may impact the market growth.
The chemicals used in the manufacturing of essential oils can cause specific skin issues and damage the skin. Some chemicals can be phototoxic, which can cause reactions when exposed to sun UV rays. Also, some oils can cause irritation or a burning sensation for sensitive skin types.
As per analysis, North America recorded a significant growth in the skincare oil industry, followed by Latin America, during the historical period. However, the market in the United Kingdom and Germany is likely to experience notable growth due to growing awareness of both men and women toward night skincare routine.
| Countries | CAGR |
|---|---|
| The United Kingdom | 5.5% |
| Germany | 5.9% |
| China | 7.8% |
| Japan | 5.1% |
| France | 3.0% |
The United Kingdom held a significant market share globally. The skincare oil market in the United Kingdom recorded a growth of 6.5% in 2022 and is likely to capture a CAGR of 5.5% in 2024.
Concerns about the potential adverse effects of synthetic ingredients drive the growing trend toward natural and clean beauty products in the country. Skincare oils, especially those derived from natural plant sources, are seen as safe and effective alternatives, contributing to market growth.
The influence of social media platforms and digital marketing has had a significant impact on the skincare industry, including skincare oils. Influencers, beauty bloggers, and online skincare communities share information and recommendations about skincare oils, creating awareness and driving demand among their followers.
In 2024, the market for skincare oil in China is estimated to register a growth of 7.8%. The country's demand for and sales of beauty oils has been supported by the country's growing young population and rising female engagement in the workforce. Additionally, as customer desire for natural products has increased, so has the understanding of the myriad negative impacts of synthetic items.
Chinese consumers are ready to spend more than their Asian counterparts on organic beauty products, which has greatly benefited the market for skincare oils. Moreover, the popularity of skincare oils is growing in the nation as a result of local manufacturer’s diverse product offerings.
In 2024, the market for skincare oil in Germany is anticipated to evolve at a CAGR of 5.9%. German consumers are increasingly concerned about the ingredients used in skincare products and are seeking natural and organic alternatives.
Skincare oils, especially those derived from natural plant sources and certified organic, are in high demand due to their perceived purity and effectiveness.
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The essential skincare oil dominated the global market with a value share of around 62.0% in 2024 and is anticipated to grow at a rate of 7.3% in the forecast period.
| Product | Essential Oil |
|---|---|
| CAGR | 7.3% |
The cosmetic business relies heavily on essential oils because they not only give products nice smells but also act as preservatives and active ingredients while also providing the skin with several health benefits. Thus, the segment is anticipated to have a command of the market in the forecasted period.
Moisturizing function is highly preferred in the skincare oil market, accounting for 28.9% market share in 2024.
| Function | Moisturizing |
|---|---|
| CAGR | 8.8% |
The skincare oils penetrate deeply into the skin, retaining moisture and avoiding dryness. This results in long-lasting hydration. As a result, it assures that the skin's barrier will keep everything inside and that the water content of the skin won't be lost. Therefore, it is typically preferred to use skincare oils as moisturizers.
The supermarkets & hypermarkets segment accounted for 37.7% in 2024 globally in terms of value share, and it is predicted to have a hold on the market over the forecast period.
| Distribution Channel | Supermarkets & Hypermarkets |
|---|---|
| CAGR | 8.0% |
Supermarkets and hypermarkets provide customers with an opportunity to select the product they want to have from several available options. They get a chance to check the products, verify their quality, and compare the prices with other brands. Additionally, supermarkets and hypermarkets provide customers with discounts that lower the product's price. Thus, it is the broadly preferred segment by customers.
To build a position in the industry, the key skincare oil brands are largely focusing on boosting their market share and product supply. Top producers like Shiseido and Blueskys use strategic tactics like collaboration and expansion to increase the supply of skincare oil.
| Attribute | Details |
|---|---|
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD billion for Value |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Argentina, the United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries, North Africa and South Africa |
| Key Market Segments Covered | Product, Function, Distribution Channel and Region |
| Key Companies Profiled | Shiseido; Procter & Gamble Co.; Burberry Group Plc.; Unilever; L’Oréal; Beiersdorf AG; Avon Products, Inc.; Estée Lauder Companies; Amway; Chanel S.A.; Johnson & Johnson; Chatters Canada; Kao Corporation; Henkel; Edgewell Personal Care; Markwins Beauty Products; Mary Kay; Coty; Marchesa |
| Pricing | Available upon Request |
The global skincare oil market is set to be worth USD 19.91 billion in 2024.
The skincare oil market is expected to register a 6.3% CAGR during the forecast period.
Marketing the products as premium products and the shift toward organic ingredients.
The United Kingdom, China, and Germany are expected to drive the skincare oil industry.
The United Kingdom is likely to account for 5.5% of the global market in 2024.
Demand for skincare oil in Europe is expected to register a growth of 6.2% over the next ten years.
The United States, India, and China are the key producers of the skincare oil market.
Burberry Group Plc., Unilever, L’Oréal, Beiersdorf AG, Shiseido, and Avon Products, Inc. are the key players in the skincare oil market.
1. Executive Summary 2. Market Overview 3. Brand Mapping Analysis 4. Distribution Channel Wise Key Brand Positioning 5. Consumer Buying Behavior Analysis 6. Market Trends & Dynamics 7. Value Added Insights 8. Market Background 9. Global Market Demand Analysis 2019 to 2023 and Forecast, 2024 to 2034 10. Global Market - Pricing Analysis 11. Global Market Demand (in Value or Size in USD Million) Analysis 2019 to 2023 and Forecast, 2024 to 2034 12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 12.1. Essential Oil 12.2. Natural Oil 13. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Function 13.1. Moisturizer 13.2. Soothing 13.3. Antioxidant effect 13.4. Anti-inflammatory 13.5. Others 14. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Distribution Channel 14.1. Supermarkets & Hypermarket 14.2. Pharmacies & Drug Stores 14.3. Specialty Stores 14.4. Online 14.5. Others 15. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 15.1. North America 15.2. Latin America 15.3. Europe 15.4. South Asia 15.5. East Asia 15.6. Oceania 15.7. Middle East & Africa 16. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 17. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 18. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034 19. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 20. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 21. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034 22. Middle East & Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034 23. Market Structure Analysis 24. Competition Analysis 24.1. Shiseido 24.2. Procter & Gamble Co. 24.3. Burberry Group Plc. 24.4. Unilever 24.5. L’Oréal 24.6. Biersdorf AG 24.7. Avon Products, Inc. 24.8. Estée Lauder Companies 24.9. Amway 24.10. Chanel S.A. 24.11. Johnson & Johnson 24.12. Chatters Canada 24.13. Kao Corporation 24.14. Henkel 24.15. Edgewell Personal Care 24.16. Markwins Beauty Products 24.17. Mary Kay 24.18. Coty 24.19. Marchesa 25. Assumptions and Acronyms Used 26. Research Methodology
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Skincare Oil Market
