Global Cosmetic Oil Market Report and Forecast 2024-2032

Global Cosmetic Oil Market Outlook

The global cosmetic oil market reached a value of about USD 62.51 billion in 2023. The market is further expected to grow at a CAGR of 5% in the forecast period of 2024-2032.

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Coconut Oil to Present Lucrative Growth Opportunities for the Market Growth of Cosmetic Oil

Due to a high demand in the Asia Pacific region, especially India, the coconut oil product segment is anticipated to see a favourable growth over the forecast period. These oils are wide-ranging in the cosmetics industry and are likely to see a robust demand from countries like South Korea, India, and Japan. Due to its natural properties, many well established as well as emerging brands have begun to use coconut oil.

Olive oil is also expected to be a robustly growing segment. Due to the unique anti-inflammatory characteristics of this product, the segment is witnessing a healthy demand. L’Oréal SA (EPA: OR) introduced a range of hair spa products with its main ingredient as olive oil and 6 oil-fed oil-in-scream. Essential oils like orange, lemon, and peppermint are also increasingly used by multiple companies to produce cosmetics and personal care oils. 

Cosmetic Oil: Market Segmentation

Cosmetic oils are being used as key ingredients in lipsticks, lip balms, moisturisers, and serum in hair and skin-care products like hair, facial oils, and elixir oils.

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On the basis of type, the market is divided into:

• Almond Oil
• Coconut Oil
• Olive Oil
• Essential Oil
• Others

By application, the market is divided into:

• Skin Care
• Lip Care
• Hair Care
• Others

The regional markets for cosmetic oil include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Natural Cosmetic Ingredients to Bolster the Market Growth

The growing demand for natural ingredients is increasing the demand for the product. Bio-oils have recently been found to replace chemical face creams by their ability to reduce hyperpigmentation, acne, stretch marks, and dry skin. With increasing consumer expectations of the ingredients used in cosmetics, a strong growth can be seen in the natural and organic cosmetics markets in the years to come, thus, aiding the market growth. Initiatives are being taken by companies like Innisfree, Farsali, Khadi, and Biotique in order to thrive in the cosmetic oil industry with the launch of a variety of essential oils and hair and facial pressure oils. Increased skin problems caused by pollution, hormonal imbalances, genetic disorders, and other factors are anticipated to further drive the demand in the market. Rising global disposable incomes will stimulate growth in the cosmetics industry, which will further increase product demand. The increased use of hair oils and shampoos to treat hair loss problems will strengthen the growth of the cosmetic oil industry.

Key Industry Players in the Global Cosmetic Oil Market

The report gives a detailed analysis of the following key players in the global cosmetic oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Unilever plc
• The Estée Lauder Companies
• Procter & Gamble Company
• Coty Inc.
• Johnson & Johnson Services, Inc
• Kao Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report