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Cosmetic Oil Market size worth over $7 billion by 2027

  • Published Date: January 4, 2022

According to a new research report by Global Market Insights Inc., the Cosmetic Oil Market size is set to surpass USD 7 billion by 2027.
 

Cosmetic oil is an essential ingredient in the production of hair care & skin care products. These oils are widely used in skin care applications owing to various skin-benefiting properties, such as moisturizing, anti-inflammatory, and antibacterial, to protect the skin. Cosmetic oils are used in hair care products owing to their various purposes such as hair growth, dryness, scalp, fix damaged hair, and maintain overall hair health. In make-up products cosmetic oils are used as emulsifiers, thickeners, moisturizers, preservatives, and fragrances.
 

Rising awareness regarding beauty & cosmetic products along with the increasing demand for beauty & cosmetic products among women & men is driving the global cosmetics industry. Improved purchasing power of consumers may further fuel the cosmetic demand, in turn, increasing the cosmetic oil market share during the forecast timeframe. Furthermore, factors such as rise in the e-commerce sector and the emergence of digital marketing have led to an increased awareness about skin care products and their skin benefits.
 

The growing demand for cosmetic products owing to the increasing individual consciousness toward external beauty will boost the product demand. The product is used in cosmetic products owing to its natural ability to moisturize & nourish skin and impart natural odor. Changes in lifestyles and a rise in disposable incomes have led to the cosmetic oil market growth over the past few years.
 

Good moisturization property has increased demand for mineral oil for skin care application

The mineral oil market for cosmetic application is expected to reach a value of around USD 1.2 billion by 2027. Mineral oil is a highly refined, lightweight component used in varied cosmetic products owing to its ability to assist the skin in retaining moisture and preventing water loss. The prominent usage of mineral oils in cosmetic products owing to their properties to reduce the loss of water from skin surface along with good moisturization has increased their demand in the global market. Furthermore, rapid growth of cosmetics industry in the developing countries along with technological developments in the refining & ultra-purification process will drive the mineral oil market.
 

The mineral oil prominently used in cosmetics and skin care products is non-comedogenic that keeps pores clog-free. It is highly used in products for sensitive skin as it is an inert, stable substance with a low risk of triggering a skin reaction or spoiling in hot & humid conditions. All these factors are supporting the product demand in the global cosmetics & beauty product market.

 

Essential oils are expected to witness significant growth owing to its anti-bacterial, anti-inflammatory, and anti-viral properties

Essential oil market is expected to reach a value of around USD 1.55 million growing at a CAGR of over 7% by the end of 2027. The market growth is attributed to its wide application in cosmetic products for formulating, blending, skin conditioning, and providing fragrance to cosmetic products.
 

The benefits associated with this product, such as anti-aging, anti-inflammation, anti-oxidation, hydration protection, and other effects, are expected to drive the essential oil market growth. However, the high cost of essential oils is expected to hinder product demand. Nevertheless, essential oils offer high efficacy in treating dry, oily, and acne-prone skin, thus augmenting the demand.
 

Browse key industry insights spread across 335 pages with 446  market data tables and 38 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, Soy Oil, Sunflower Oil, Jojoba Oil, Argan Oil, Rapeseed Oil}), By Application (Hair Care {Hair Oil, Shampoos}, Skin Care {Creams & Lotions, Massage Oil, Baby Oil, Soap-Based Product}, Lip Care), By Function (Skin Conditioning & Moisturizing, Hair Conditioning), Industry Analysis Report, Country Outlook Application Development, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” 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 drive demand for cosmetic oil

Skin care is anticipated to hold a significant market size owing to the increasing demand for massage oils, creams & lotions, and baby oils. The cosmetic oil market from skin care applications is expected to account over USD 2.15 billion by 2027. Cosmetic oil is widely used in skin care products such as soap-based products, face creams, body creams, and baby oils.

 

Rising consumer awareness related to the benefits of using skin care products along with changing preferences for beauty & cosmetic products will augment the product demand for skin care cosmetic manufacturing. Among skin care applications, creams & lotions dominated the cosmetic oil market with over one-third market share in 2020. Creams and lotions have increased the demand owing to their ability to reduce skin dryness, slow down aging, fight acne, and soothe sensitive skin.
 

Skin care is estimated to be the fastest-growing segment registering a CAGR of 5.4% through 2027 and is anticipated to boost the cosmetic oil demand from skin care product manufacturers due to its various skin health benefits. The product is widely used in skin care products owing to its benefits of wound healing, anti-inflammatory, and anti-bacterial properties. Moreover, essential oils are widely used in skin care products to provide fragrance and antibacterial properties to fight acne.
 

This led to increased concern among the population about skin care, which will augment the business growth. Skin care products contribute a major segment in the cosmetic oil industry owing to the increasing use of skin care products that are safe for the environment and skin.
 

Shifting consumer preference towards natural and organic ingredients in cosmetic products in Europe is expected to drive market growth

The European cosmetic oil market is set to reach a value of around USD 1.45 billion by 2027 and is expected to register a CAGR of over 4% during the forecast period. Growing consumer awareness about health, wellness, and personal care products is driving the European cosmetic industry.
 

Skin care & color cosmetics are the prominent categories of the cosmetic industry to be sold in the region during the forecast period, thus driving the demand for cosmetic oils. Further, the augmenting demand for natural components in the hair care market has motivated cosmetic manufacturers to develop products with nature-inspired ingredients such as plant-inspired and premium botanical compounds.
 

The German is highly mature & competitive market; however, constant product innovations and development will support the cosmetic product demand in the country. Also, the strategic development activities performed by cosmetic manufacturers to propel business growth will drive the cosmetic oil market.
 

Authors: Kunal Ahuja, Harneet Mehar

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