Cosmetic Oil Market is Anticipated to Cross a Value of US$ 34.49 Billion by 2033 | Future Market Insights, Inc.

North American cosmetic oil market leads due to lifestyle shifts, gender-neutral solutions, and makeup primer use among working professionals

NEWARK, DELAWARE, UNITED STATES, September 4, 2023/EINPresswire.com/ -- 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 in 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 are 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 helps the market to gain traction.

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Key Points

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.

The United Kingdom’s cosmetic oil market is another significant market in Europe region. Europe holds the presence of beauty and personal care business giants.

China's 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.

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.

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.

The key players in the market are Vcos Cosmetics Pvt Ltd, SOPHIM, Bramble Berry, Aroma Foundry, Uncle Harry's Natural Products, Botanic Choice, Making Cosmetics Inc., A.G. Industries, AOT Organic Products, Marnys

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Recent Market Developments:

Industries have 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 Oi

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

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Author

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, and technology projects, and driving successful implementations. She has helped create insightful, relevant analyses of Food and beverage market reports and studies that include consumer market, retail, and manufacturer research perspectives. She has also been involved in several bulletins in food magazines and journals.

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