Cosmetic Oil Market is Expected to Reach at a US$ 10.9 Billion in 2023 | FMI

The cosmetic oil market is anticipated to expand its roots at a steady CAGR of 12.21% between 2023 and 2033. The market is expected to cross a market share of US$ 34.49 billion by 2033 while it is likely to be valued at US$ 10.9 billion in 2023

• 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.
• 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.

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Key Points

1. The United States market leads the cosmetic oil market in terms of market share in North America. North America also leads in terms of market share. The growth in this region is promoted by an increased number of working professionals, rising awareness around hair care, and customizable products.
2. The United Kingdom’s cosmetic oil market is another significant market from Europe region. Europe holds the presence of beauty and personal care business giants.
3. China cosmetic oil market is anticipated to thrive at a healthy CAGR during the forecast period. The growth is attributed to high urbanization and increasing pollution levels. Asia-Pacific region thrives at a CAGR of 5.8% between 2023 and 2033.
4. The vegetable oil source type segment is leading the segment as it holds a significant market share. It’s due to its easy availability, affordable rate, and multi-purpose usage.
5. Based on the application, the hair care segment leads as it held a leading global share in 2022. The growth is attributed to the rising effect of air pollution on hair along with the increasing awareness around scalp nutrition among young people

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.

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The key players in the market are Vcos Cosmetics Pvt Ltd, SOPHIM, Bramble Berry, Aroma Foundry, Uncle Harry’s Natural Products, Botanic Choice, MakingCosmetics 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
  • Russia
  • Rest of Europe
• Japan
• Asia Pacific Excluding Japan
  • China
  • India
  • Malaysia
  • Singapore
  • Australia
  • Rest of Asia Pacific Excluding Japan (APEJ)
• The Middle East Asia
  • GCC Countries
  • Israel
  • South Africa
  • Rest of the Middle East Asia (MEA)

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