Cosmetic Oil Market Analysis Report By Product, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global cosmetic oil market size was valued at USD 50.58 billion, in 2018. The major factor which is driving the market growth includes a wide range of properties such as moisturizing, antimicrobial, and anti-inflammatory of cosmetic oils. Moreover, the growing preference for organic and natural products is expected to fuel the growth of the cosmetics oil market.

The cosmetic oils can be used as a major ingredient in lip balms, lipstick, and serums. In addition, cosmetic oils are used in hair and facial oils, hair products, elixir oil.

The benefits of cosmetic oils for aesthetics are also driving the growth of the beauty segment. Currently, the trend of using cosmetic oils to avoid chemical-based beauty creams is fueling the demand for this market. Cosmetics oils help to reduce hyper-pigmentation, stretch marks, scars, and dry skin issues. 

Rising awareness about the ingredients used in cosmetic products among consumers is expected to drive the demand for natural and organic cosmetic oils. Hence, companies such as Innisfree, Khadi, Farsali, and Biotique, are taking several initiatives to thrive in this market by introducing varieties in essential oils, hair oils, and cold-pressed facial oils. Further, growing skin problems owing to hormonal imbalance, pollution, and genetic disorder are expected to drive the demand. Moreover, rising demand from the cosmetics industry for facial oils is expected to surge the demand for this market over the forecast period.

Product Insights

Among product types, coconut oil is projected to witness significant growth over the forecast period due to the high demand from the Asia Pacific region, especially from India. These oils have various applications in the cosmetic industry due to high demand from countries, such as India, South Korea, and Japan. Further, well-established and emerging market players have a wide range of applications for coconut oil. For instance, Farsali has introduced facial oils, which is a trending product among make-up artists across the globe. 

Furthermore, olive oil is expected to be the second-largest growing segment with a CAGR of 5.5% over the forecast period, 2019 to 2025. L’Oreal introduced a hair spa service with 6 oils by including olive oil as the main ingredient. Essential oils such as lemon, orange, and peppermint are extracted as an essential form and used to prepare personal and cosmetic care oils by several companies. Apart from lemon, which is used in various vitamin c-based face serum, orange oil, the segment is also a popular product under essential oils. Other oils included in this segment are Moroccan, avocado, and argan oil. Avocado oil contains vitamin B and E which is a rich source of antioxidants used in hair serum to reduce hair fall and face masks to restore skin damages. 

Regional Insights

In 2018, Asia Pacific held the largest share, accounting for more than 30.0% of the total revenue. An increasing number of companies such as Patanjali and Farsali and technological advancement in the cosmetic industry are some of the factors driving the cosmetic oils market across the globe. The U.S.-based, top market players such as L’Oreal, Coty, and Avon, started to produce elixir oils in the personal care segment, which is expected to contribute significant growth for this market. Asia Pacific region is expected to witness the highest CAGR of 5.8% during the forecast period, 2019 to 2025.

Moreover, the introduction of new products such as Indulekha hair oil, which is using the essence of the Bringhraj plant, helps to reduce hair fall and regrowth of hair, which are expected to proliferate the demand for the regional market. 

Cosmetic Oils Market Share Insights

The major players operating in this industry are Innisfree, L’Oreal, Unilever, Coty, and Shiseido. Cleansing facial oil is gaining popularity owing to its formulation, and cleansing properties. Estee Lauder has launched a wide range of facial serums containing natural oils for an all-purpose skincare regime.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global cosmetic oil market report based on product, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)
    • Olive
    • Almond
    • Coconut
    • Essential
    • Others

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • France
    • the Asia Pacific
        • South Korea
        • Singapore
    • Central & South America
    • Middle East & Africa