Over the projected period, the cosmetic oil market is expected to grow at a stable CAGR of 12.21%. The market is predicted to generate US$ 10.9 billion in sales in 2023 and US$ 34.49 billion in value by 2033.
The high awareness among end users around cosmetic oil usage and its application in beauty studios as a primer is contributing to the market growth. Furthermore, the different grades of oil for customized usage are also garnering market success.
The increased number of beauty studios increased per capita income, and new organic cosmetic product producers in the market are flourishing the sales of cosmetic oil. further
The high organic and natural composition in advanced cosmetic oil products such as serums, oil, lotions, and hair creams is propelling the market growth.
The increased air pollution and its effect on the body and hair is also pushing end-users to adopt preventive measures. These preventive measures involve new properties such as anti-aging, and anti-wrinkle properties.
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The companies running different social media campaigns are also flourishing the concept of natural oil in cosmetic products, which in turn helping the market to gain traction.
What’s fueling this Cosmetic Oil boom? Here are some key ingredients:
- Rise of natural ingredients: Consumers are increasingly seeking natural and organic beauty products, driving demand for plant-based cosmetic oils.
- Growing self-care awareness: Increased focus on personal well-being fuels the use of oils for hydration, nourishment, and anti-aging benefits.
- Social media influence: Beauty influencers and online communities showcase the diverse uses of cosmetic oils, driving awareness and trends.
- Multifunctional benefits: From facial serums to body oils, the versatility of these products caters to various beauty needs.
- Innovation and customization: Brands are developing unique blends and formulations to cater to specific skin types and preferences.
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Competitive Landscape:
The key vendors work on introducing customized oil that targets specific problems. Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.
The key players in the market are Vcos Cosmetics Pvt Ltd, SOPHIM, Bramble Berry, Aroma Foundry, Uncle Harry’s Natural Products, Botanic Choice, Making Cosmetics Inc., A.G. Industries, AOT Organic Products, Marnys
Recent Market Developments:
- G. Industries has introduced custom formulations & private-label manufacturing that targets wholesalers and individual customers as well.
- AOT Organic Products has introduced its long range of cosmetic oils with different mixtures. The company claims these oils to be ecologically and sustainably balanced.
Cosmetic Oil Market: Segmentation
By Source:
- Mineral Oil
- Vegetable Oil
By Application:
- Hair Care
- Skin Care
- Lip Care
- Others
By Type:
- Olive
- Almond
- Coconut
- Essential
- Others
By Industry Vertical:
- Chemical and Petrochemical
- Oil and Gas
- Energy & Power
- Automotive
- Healthcare
- Others
Key Regions Covered:
- North America
- The United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- The United Kingdom
- France
- Spain
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