According to a research report "Vegetable Oils in Beauty and Personal Care Market by Application (Color Cosmetics, Skin Care, Hair Care), Nature (Conventional, Organic), Type (Coconut, Sweet Almond, Jojoba, Argan, Apricot, Pomegranate, Avocado) and Region - Global Forecast to 2027" published by MarketsandMarkets, the global vegetable oils in beauty and personal care market is projected to reach USD 5.8 billion by 2027 from USD 4.4 billion by 2022, at a CAGR of 5.7% during the forecast period in terms of value.
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The beauty and personal care industry continues to incorporate jojoba oils into multiple products, due to its molecular simplicity and nourishing properties
Jojoba oil is an essential vegetable oil that is odorless and obtained from the crushed bean of the jojoba shrub. It is an effective cleanser, conditioner, moisturizer, and softener for the skin and hair as a cosmetic. Due to the uniqueness of jojoba oil, cosmetic manufacturers in Europe, Japan, Israel, and Mexico have used it and its derivatives in cleansing oil, facial oil, and oil serum. Jojoba oils molecular simplicity, stability under high temperature and pressure, tolerance for drought conditions, unsaturation characteristics, and long shelf life are qualities that make it an excellent choice for use in beauty and personal care products. Companies such as SOPHIM (France) and Sigma Oil Seeds (Netherlands) provide jojoba oil for beauty and personal care products. In December 2021, Mk jojoba Company, in the Middle East and Africa, announced the launch of 22 natural, medicinal "cosmetic" products of high-quality pure jojoba oil in local markets under the "Leaprance" brand.
Organic vegetable oils in beauty and personal care market to witness high demand, due to increased demand for natural and organic products
Organic vegetable oils are in high demand in the market as they are perceived to be safer and devoid of harmful chemicals than conventional products. Organic oils like olive and coconut are popular in the market. Organic products are made from agricultural products that have not been grown or processed using fertilizers, growth regulators, livestock feeds, pesticides, additives, or bio-engineered genes (GMOs). Since the demand for organic beauty and personal care products is increasing, the demand for organic vegetable oils is also rising.
The growth of the vegetable oils in beauty and personal care market in Europe is driven by the demand for products that are free from chemicals and safe
Natural cosmetics are becoming increasingly popular in Europe with the growing awareness of healthy lifestyles and the gradual shift to cleaner, chemical-free products. The consumer demand for cosmetics products that do not contain chemicals is expected to fuel market growth. Palm oil is well-known in the cosmetics industry. On the other hand, concerns about deforestation are creating a strong demand for environmentally friendly alternatives. Companies in the cosmetics industry aim to replace palm kernel oil-based ingredients in their formulations. Unilever (UK), in collaboration with Geno (India), will invest USD 120 million in biotechnology alternatives for unsustainable ingredients in 2022. The collaborations aim to scale plant-based alternatives to materials like palm oil and fossil fuels for hygiene and personal care products.
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This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as BASF SE (Germany), CREMER OLEO GmbH & Co. KG (Germany), SOPHIM (France), ADM (US), Maverik Oils (US), Australian Botanical Products (Australia), Zapach International (India), Ernesto Ventós S.A. (Spain), Louis Dreyfus Company (Netherlands), Cargill, Incorporated (US), Vantage Specialty Chemicals (US), OLVEA (France), All Organic Treasures GmbH (Germany), Gustav Heess GmbH (Germany), PRODIGIA (Morocco), Jayant Agro-Organics Limited (India), Sigma Oil Seeds B.V. (Netherlands), and ConnOils LLC (US).
