Cosmetic Oil Market Trends 2021, Global Demand Analysis to 2026

As per a research report by Global Market Insights, the global cosmetic oil market size exceeded over USD 5.5 billion in 2019 and is likely to surpass an annual remuneration of more than USD 7.5 billion by 2026.

Delaware, United States – July 28, 2021 /MarketersMedia/ —

Global Cosmetic oil market size from palm oil is pegged to record a CAGR of 5.2% over the next few years, considering their robust use in the formulation of creams and soaps. Palm oil can be considered a chief cosmetic oil source as it offers health benefiting attributes like skin smoothening, hydration, as well as protection against UV radiations.

The ongoing COVID-19 outbreak has indicated strong concerns about health and hygiene. This factor is likely to foster the need for soap-based cosmetic oils.

Application of the cosmetic oils in the hair care department contributed to more than USD 1,616.1 million in 2019. The market is estimated to strike a 3.9% CAGR through the coming years due to the prevalence of hair fall issues in consumers across the world. This trend has led to an awareness of the advantages offered by cosmetic oils. Furthermore, cosmetic oils derived from coconut and almond are extensively employed as carriers in cosmetic formulations.

Annual revenue of the cosmetic oil market in the hair conditioning segment exceeded over USD 1.5 billion in 2019 and the value is anticipated to register a 3.9% CAGR through 2026. This can be owed to the rising demand for these oil products to counter hair loss.

On the other hand, the baby cosmetic oil industry will gain traction over the coming years due to the inclining use of oil for baby health and hygiene. There is also a high consumer willingness to spend on baby care products.

Growth drivers of Cosmetic Oil Market are

• North America: Rising skin problems among people will drive product demand
• Europe: Growing personal care products manufacturing in the region will foster product demand
• Asia Pacific: Increasing demand of natural ingredients to manufacture cosmetics will stimulate market growth

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The Asia Pacific cosmetic oil market comprises contributors like China, Japan, India, and South Korea who collectively make up for 80% of this regional landscape. The industry was responsible for close to USD 2,254.6 million in annual remuneration in 2019. This can be attributed to the expansion of the residing population as well as rapid economic developments and urbanization in the region. A surge in production activities related to personal care as well as cosmetic products in China and India will further add impetus to the regional cosmetic oil consumption.

Cosmetic oil suppliers are working towards incorporating various strategies like partnerships, mergers, expansion, and product launches to extend their offerings globally while sustaining market competition. For instance, in October 2020, Cargill, acquired Floratech, a global provider of beauty ingredients. This collaboration helped the former company to enhance its supply of nature-derived products with the assistance of Floratech’s R&D and specialty ingredients.

Exxon Mobil, DoTerra, Gustav Heess GmbH, Maverik Oils, Sinopec Corporation, Renkert, OLVEA Vegetable Oils, Henry Lamotte Oils GmbH, Sonneborn, Symrise, ATDM Co. Ltd, Incorporated, Unilever, BASF, Connoils, and L’Oreal are some of the other companies operating in the sector.

About Global Market Insights Inc.
Global Market Insights Inc. headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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Name: Arun Hegde
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Organization: Global Market Insights Inc.
Phone: 1-302-846-7766
Website: https://www.gminsights.com/pressrelease/cosmetic-oil-market

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