The worldwide beauty oils market is estimated to be worth $5.74 billion in 2023 and will be worth $10.28 billion by the end of 2033, growing at a CAGR of 6% over the next ten years.
The best skin oils are those that effectively soften the skin or act as an occlusive to keep the skin moist. Beauty oils are extensively used in skincare routines since they keep the skin healthy and smooth. Citrus oils are derived from citrus fruits such as lemon, orange, mint, and peppermint, as well as plants such as lavender.
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The industry is predicted to grow as customers’ preference for organic and herbal goods grows. The advantages they provide, including as moisturizing, antibacterial, and anti-inflammatory properties, are the primary drivers of market expansion. Increased manufacturing of personal care products in countries such as China and India is likely to drive market growth.
China, Japan, India, and South Korea are estimated to account for more than 80% of the Asia Pacific beauty oil market. The growth in skin problems caused by pollution, genetic disorders, hormone imbalances, and other reasons is also expected to drive demand for essential oils.
Competitive Landscape:
Companies manufacturing beauty oils have invested a lot in enhancing product quality and innovation in terms of ingredients, usability, and packaging. To accomplish consolidation and maximize offers, major firms are focusing on product innovation and merger and acquisition activity. To dominate local markets, these players collaborate with regional competitors.
The ‘Beauty Activations’ brand accelerator project was launched by Symrise Cosmetic Ingredients in May 2022 to collaborate with North American cosmetics brands. With the collaboration between Symrise and the Beauty Activations platform, it is anticipated that brands will be provided with comprehensive marketing analytics, exclusive formulas, and a variety of award-winning ingredients.
LVMH, Natura & Co., Henkel, L’Oreal, and Unilever worked together to create a mechanism for evaluating and grading the environmental effects of the cosmetics sector in September 2021
Key Players:
- L’Oréal SA
- Burberry Group
- Clarins Group
- THE BODY SHOP
- Givaudan SA
- Biolandes SA
- Robertet Group
- Herbal Family
- KATO Flavours & Fragrances (KFF)
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Regional Analysis:
During the projected period, the market in the United States is expected to grow at a stable CAGR of 5.4%.
North America’s market is positioned for substantial expansion as a result of rising demand for adaptable and creative goods driven by changing lifestyles and hectic work schedules. The existence of large cosmetic corporations in the nation, as well as continuous research and development activities to generate new products, will open up new chances for growth. The rising occurrence of early aging and hair greying, particularly among young people, is predicted to increase hair care product sales.
Growing urbanization, population growth, and economic development are driving market expansion in the Asia Pacific area. The country’s demand for organic and natural skin care products is increasing. Beauty oils, such as face oils, hair oils, and body oils, are gaining popularity due to their multiple advantages.
As customers seek goods based on ancient Indian cures and ingredients, the use of traditional Ayurvedic components in beauty oils is also contributing to market growth. In India, key players include Kama Ayurveda, Forest Essentials, and Just Herbs, among others. Multinational corporations such as L’Oreal, Unilever, and Procter & Gamble are also expanding their product offerings into the Indian market.
Key Segments of Industry:
- By Product Type :
- Lemon
- Orange
- Mint
- Peppermint
- Lavender
- By Industrial Use :
- Hair Products
- Makeup Products
- Skincare
- Perfumes
- Others
- By Sales Channel :
- Modern Trade
- Franchise Outlets
- Specialty Stores
- e-Commerce
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