Cosmetic Oil Market size to exceed $7.5 billion by 2026

According to a new research report by Global Market Insights, Inc., the Cosmetic Oil Market size is set to surpass USD 7.5 billion by 2026. Increasing consumer spending on beauty and personal care products along with factors such as increasing air pollution, population growth and increasing disposable income are driving the market growth.
 

Cosmetic oils are highly refined and purified mineral or vegetable oil to meeting stringent requirements. Cosmetic oils are considered an important part of most cosmetic formulations containing varying concentration ranging from 1% to 99%. Cosmetic oil is used wide variety of cosmetics and personal care products owing to its benefits including moisturizing, skin softening, hair conditioning agent, skin protectant, solvent and antioxidants.

 

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Increasing concern over skin problems, and hair fall and increasing demand for natural ingredients to drive the vegetable oil demand during the forecast period. The global cosmetic oil market is set to witness steady growth driven by rapid growth of cosmetics industry. The global cosmetic industry is valued at USD 14 billion in 2019 and expected to reach over USD 18 billion in 2026.
 

Increasing use of mineral oil for skin care application to propel cosmetic oil market growth

Mineral oil segment was valued at USD 2.5 billion in 2019 and is forecast to witness steady growth owing to increasing demand from skin care applications. The demand for mineral oil is attributed to its non-allergic properties, noncomedogenic, inert and stable compound. Mineral oil is widely used in baby lotions, creams & lotions, ointments, shampoos, make-up products etc.
 

Furthermore, increasing focus on skin care and high demand for hair care products on the account of rising pollution and skin problems across the globe is expected to propel the cosmetic oil market demand for mineral oil during the forecast period.
 

Essential oil segment is set to witness highest growth driven by growing awareness about the benefits and increasing consumer spending

Essential oil segment was valued over 875 million and is likely to grow with a CAGR of over 7.2% through 2026 owing to high demand for skin and hair nourishment application. Furthermore, essential oils are widely used in manufacturing perfumes and deodorants, increasing demand for these products across the globe particularly in Asia-Pacific is expected to augment the demand for essential oil during the forecast period. Moreover, growing awareness about the benefits of essential oils and shifting towards natural cosmetics to propel the cosmetic oil market for essential oils.
 

Browse key industry insights spread across 220 pages with 409 market data tables and 21 figures & charts from the report, “Cosmetic Oil Market Size By Source (Mineral Oil, Vegetable Oil {Coconut oil, Almond oil, Olive Oil, Palm Oil, Avocado Oil, Essential Oils}), By Application (Hair care {Hair Oil, Shampoos}, Skin Care {Creams & Lotions, Massage oil, Baby oil, Soap-Based Product, Others}, Lip Care), By Function (Skin Conditioning & Moisturizing, Hair Conditioning), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/cosmetic-oil-market
 

Increasing demand for men grooming products and rising demand for organic and natural cosmetics to cosmetic oil industry

Skin care segment was valued at USD 2,227.7 million and is likely to grow with a healthy CAGR through 2026 owing to increasing demand for facial creams, sunscreen, body oil and massage oils. Creams & lotions accounted for the more than one-third value share in 2019. The growing penetration of e-commerce, increasing smartphones and technological advancement is anticipated to boost the cosmetic oil market during the forecast period.
 

Olive oil market is likely to grow at a CAGR of 3.9% between 2020 and 2026, owing to increasing demand for skin care products. Olive oil is an essential ingredient in lotions, creams, skin oils on the account of moisturizing and protection properties. Consumers are rapidly moving towards high quality and organic/sustainable labeled products owing to rising awareness about its advantage and on potential effect of mineral oils on humans which is likely to boost consumption of vegetable oils.
 

Increasing demand for organic and natural ingredient in personal care products and cosmetics in Europe to foster market growth

Europe cosmetic oil market accounted for over USD 1,360.11 million in 2019 and is set to register moderate growth in coming years owing to growing consumer demand for several skin care formulations such as creams, lotions, peels, and face masks. Cosmetic oil provides emulsifying and moisturizing properties, skin protection and treating dry, rough and flaky skin.
 

Consumers in this region are witnessing high disposable income and are moving towards high quality products. Cosmetic oil is also utilized in manufacturing personal care products such as shampoo, soaps, body wash, and shower gel owing to its cleansing properties.
 

Industry players in cosmetic oil industry are emphasizing in research & development to produce high quality and sustainable solutions in order to improve the goodwill image and diversify product portfolio. Primary players include Exxon Mobil, Maverik Oils, Sinopec Corporation, Renkert, Renkert, Sonneborn, Henry Lamotte Oils GmbH, DoTerra, Symrise, ATDM CO.LTD, L’Oreal and BASF SE.
 

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