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Cosmetic Oil Market Size - By Source (Mineral Oil, Vegetable Oil {Coconut, Almond, Olive, Palm, Avocado, Essential, Soy, Sunflower, Jojoba, Argan, Rapeseed}), Application (Hair Care, Skin Care, Lip Care), Function & Forecast, 2021 - 2027

  • Report ID: GMI3982
  • Published Date: Jan 2022
  • Report Format: PDF

Cosmetic Oil Market Size

Cosmetic Oil Market size exceeded USD 4.8 billion in 2020 and is estimated to grow at over 5.5% CAGR between 2021 and 2027 due to growing demand for organic products and increasing adoption of vegetable oil in cosmetics industry.

cosmetic oil market outlook

Cosmetic oils are carrier oils, used as a major ingredient in cosmetic products, such as moisturizers, serums, lipsticks, lip balms along with several other hair and skin-care products. Cosmetic oils offer skin protection benefits such as calming rashes, reducing wrinkles, and shrinking enlarged pores to avoid the risk of acne on skin. They are also used in the formulation of cosmetic products such as make-up, exfoliating agents, creams, and body lotions.

The growing demand for cosmetic products owing to the increasing individual consciousness towards external beauty will boost the cosmetic oil market sales. Cosmetic oil is used in cosmetic products owing to its natural ability to moisturize & nourish skin and impart natural odor. Rapid development of the gender-neutral cosmetic market along with the expansion of men-based beauty products is expected to propel the product growth during the forecast timeframe.

Coronavirus spread has led to reduced consumption of cosmetic products due to the decreased consumer expenditure on these products due to work-from-home trends. This has restricted the demand for non-essential hair & skin care products while the demand for basic products including oils and shampoos have not witness much decline in sales. The slow economic recovery due to the COVID-19 pandemic negatively impacted the cosmetic product sales in 2020 but have a strong potential for continued growth in the coming years.

Cosmetic Oil Market Analysis

Based on the source, the cosmetic oil market is segmented into vegetable oil and mineral oil. The global vegetable oil market size was valued at around USD 3.90 billion in 2020. Vegetable oil is the fastest-growing segment owing to its increasing demand in cosmetic applications. Vegetable oils, such as coconut, almond, palm, avocado, and essential oils, are widely used in cosmetic products owing to their ability to protect the skin and make it healthier.

vegetable oil market

Rising consumer awareness related to the benefits of vegetable oil on the skin has led to the increased product demand for its use in cosmetics. Moreover, increasing cosmetic product innovation by using different vegetable oils will further stimulate the cosmetic oil market share. Vegetable oils have also received a great deal of attention owing to their numerous biological activities and appealing technological qualities such as simple skin absorption and superior spreadability.

Coconut oil holds the largest market share due to its increasing use in hair care and skin care products. Coconut oil is widely used in cosmetic products due to its skin moisturizing properties. Coconut oil also treats skin illness & infection, heals wounds, and protects skin against blemishes. Furthermore, the increasing trend of organic & natural certifications in cosmetics has majorly boosted the demand for vegetable oils in recent times, thus propelling the overall market growth. The increasing innovation of cosmetic products by using different vegetable oils will further accelerate the cosmetic oil market growth.

cosmetic oil market from hair care application

The cosmetic oil market from hair care applications is expected to reach over USD 2.95 million by 2027. Cosmetic oil is prominently used in a wide range of hair care products such as hair oil, shampoos, conditioners, serums, and other hair styling products to provide a shiny & smooth texture to the hair. These oils also help to moisturize the scalp and aid in the growth of hair follicles. Further, the increasing importance of hair care & style in people's lives despite gender has positively impacted the demand for different hair care products.

Hair oil application held the largest share in the global cosmetic oil market from hair care application. Hair oils are considered an essential source of nutrients for hairs and help in hair conditioning and moisturization. It has also motivated manufacturers to become more focused on hair products along with their efficacy & components.

Cosmetic oil demand from shampoos was estimated to be valued at USD 300 million in 2020. Fast-changing lifestyle adoption of a hectic schedule, and increased stress levels has resulted in increased hair loss at an earlier stage among the young population, thus the usage of hair care products has been highly important.

cosmetic oil market from skin conditioning & moisturizing function

Global cosmetic oil market is segmented based on function as hair conditioning, skin conditioning & moisturizing, and others. Global cosmetic oil market for skin conditioning & moisturizing is estimated to reach a value of around USD 4.05 billion by 2027. Cosmetic oils are used as skin conditioners to enhance the appearance of dry & damaged skin by restoring suppleness and reducing flaking.

Skin conditioning & moisturizing is the fastest growing segment owing to the increasing skin problems due to increased genetic disorder, pollution, and hormonal imbalance, among others. Rapid urbanization and increasing pollution levels along with the rise in awareness about various skin care products will boost the cosmetic oil market revenue.

cosmetic oil market by region

North America cosmetic oil market is expected to witness high growth and will reach a value of over USD 1.75 billion by 2027 owing to the increasing demand for multifunctional & advanced cosmetic products owing to the changing lifestyle and busy working schedules. Further, the presence of major cosmetic brands in the region along with the innovation and R&D performed for new product development will provide new growth opportunities.

Increasing cases of early aging and graying of hairs mainly in youth population due to the lack of nutrition and other vitamins will pace up the sale of hair care products. across North America. Further, the market for cosmetic oil is prominently driven by the consumption of vegetable oils in basic & personal care products, thus driving the market growth during the forecast timeframe.

Cosmetic Oil Market Share

The global cosmetic oil industry is fragmented in nature comprising of several global and regional players. Some of the prominent industry players include :

  • DoTerra
  • Sonneborn
  • Symrise
  • BASF
  • Sinopec Corporation
  • Exxon Mobil
  • Clariant
  • IOI Oleo GmbH

The key industry participants have ramped-up merger & acquisition initiatives over the past few years, to generate public awareness regarding their existing & upcoming technologies & products, to compete with their rival’s product portfolio. For instance, in September 2021, Symrise Cosmetic Ingredients entered into a strategic partnership with Kobo to expand the sunscreen and color cosmetics business

New product launches are also employed significantly by the existing market players for enhancing their market share. For instance, in October 2020, doTERRA announced several new essential oil products and diffusers, including three new wellness programs designed to help people focus on their specific health goals. Also, in October 2021, Symrise filed a range of patent applications for its multifunctional cosmetic ingredient Hydrolite 7 green.

The cosmetic oil market report includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Kilo Tons) and revenue (USD Million) from 2021 to 2027, for the following segments:

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By Source

  • Mineral oil
  • Vegetable oil
    • Coconut oil
    • Almond oil
    • Olive Oil
    • Palm Oil
    • Avocado Oil
    • Essential Oils
    • Soy Oil
    • Sunflower Oil
    • Jojoba Oil
    • Argan Oil
    • Rapeseed Oil
    • Others

By Application

  • Hair Care
    • Hair Oil
    • Shampoos
    • Other
  • Skin Care
    • Creams & Lotions
    • Massage oil
    • Baby oil
    • Soap-based product
    • Others
  • Make-up
  • Lip Care
  • Others

By Function

  • Skin Conditioning & Moisturizing
  • Hair Conditioning
  • Other

The above information has been provided for the following regions:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailand
    • Malaysia
    • Australia
  • Latin America
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE
Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The global cosmetic oil industry size was worth USD 4.8 billion in 2020 and will record a 5.5% CAGR up to 2027 impelled by higher penetration of vegetable oil across the cosmetics industry and the burgeoning need for organic products.

Cosmetic oils, including coconut oil, almond oil, olive oil, palm oil, avocado oil, essential oils, soy oil, sunflower oil, jojoba oil, argan oil, and rapeseed oil are typically carrier oils, employed as major ingredients in cosmetic products, and several other hair and skin-care products.

Demand for cosmetic oils in hair care applications will exceed USD 2.95 million by 2027 with rising adoption in hair oil, shampoos, conditioners, serums, and other hair styling products to offer a shiny & smooth texture.

North America is poised to register a cosmetic oil industry revenue share of more than USD 1.75 billion through 2027 driven by the presence of major cosmetic brands and the growing requirement for multifunctional & advanced cosmetic products.

Cosmetic Oil Market Scope

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 15
  • Tables & Figures: 484
  • Countries covered: 20
  • Pages: 335
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