The global jojoba
oil market is expected to reach USD 254.2 million by 2024,
according to a new report by Grand View Research, Inc. The rising demand for
organic personal care products along with formulation development for specific
consumer group is expected to create new market avenues for cultivators and
producers of jojoba oil.
Major cosmetic manufacturers such as JE International,
L'Oréal S.A, and Ole Henriksen are undertaking
extensive research & development for innovation of jojoba oil-based
formulations. The increasing penetration of jojoba oil in cosmetic products
including lipsticks, shampoos & conditioners, and skin creams &
moisturizers is expected to be a major factor in promoting growth. The various
abilities of the ingredient such as acting as an emollient and moisturizer and
prevention of aging skin have resulted in increased penetration of jojoba oil
in the overall cosmetic market.
Declining use of various harmful chemicals such as
aluminum salts, phthalates, and parabens coupled with dedicated efforts from
several multinational corporations for shifting towards sustainable products
has contributed towards the increase in consumption of organic personal care
products. Cosmetics containing natural ingredients such as aloe vera, tea
extract, lime, jojoba oil, and black sugar are expected to gain consumer
importance over the next seven years.
Browse full research report on Jojoba Oil Market Market: https://www.grandviewresearch.com/industry-analysis/jojoba-oil-market
Further
key findings from the report suggest
- Cosmetics will witness the fastest volume growth at a CAGR of 5.5%
from 2016 to 2024 as a result of rising awareness about organic and
natural products and preference towards such products in cosmetics and
personal care. Also, increasing consumer awareness regarding grooming is
expected to propel market growth further over the forecast period.
- North America jojoba oil market was valued at USD 58.1 million in
2015 and will show significant rise owing to increasing penetration of the
oil in various organic skin care products. The increasing significance of
natural ingredients including vegetable oils, herbs, and fruits in various
skin care products which possess anti-ageing properties is expected to
fuel demand. Growing importance of natural ingredients in providing hair
fall control, dandruff protection, and a shining effect is projected to
have a positive impact.
- Asia Pacific will witness significant revenue growth at a CAGR of
7.1% from 2016 to 2024 on account of rising demand from Japan and other
Southeast Asian countries. The growth of the male grooming industry,
particularly in emerging economies of the region, is expected to fuel
demand over the forecast period.
- Key participants include Purcell Jojoba International, Eco Oil
Argentina SA, Egyptian Natural Oil Co, Inca Oil SA and The Jojoba Company.
Some of the major users of jojoba oil include Innocosma, Skinfood Co. Ltd,
Ole Henriksen, and Primavera Life.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/personal-care-and-cosmetics
Grand
View Research has segmented the global jojoba oil market on the basis of
application and region:
Application
Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
- Cosmetics
- Pharmaceutical
- Industrial
- Others
Regional
Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Mexico
- Europe
- Germany
- Asia Pacific
- China
- Japan
- Latin America
- Brazil
- Argentina
- MEA
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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