Vegetable Oils in Beauty and Personal Care Market

Global Vegetable Oils in Beauty and Personal Care Market Size (2024 to 2029)

The size of the global vegetble oils in beauty and personal care market is expected to be worth USD 5.12 billion in 2024 and grow at a CAGR of 5.80% from 2024 to 2029 to achieve USD 6.79 billion by 2029.

The vegetable oils are extracted from plants like coconut, jojoba, palm, avocado, and argan. They are rich in vitamins, fatty acids, antioxidants, and essential nutrients. Vegetable oils can act as natural moisturizers, promote healthy glowing skin, and protect against hair damage. The properties such as antioxidants and anti-inflammatory help them to treat several skin conditions. Vegetable oils in hair care specifically strengthen hair and help to nourish and improve the shine of the hair. Also, some oils like olive and almond are used for massage owing to their calming effect. Due to this wide range of benefits, vegetable oils are widely used in beauty and personal care.

Recent Developments in Vegetable Oils in the Beauty and Personal Care Industry

• In February 2022, OLVEA introduced a new grapeseed oil that was recycled from winemaking materials and used for its variety of uses and beauty advantages.
• In April 2022, Using concentrated phytoene and jojoba oil, Jojoba Desert (A.C.S) LTD introduced JD Phyto-Or 1% to support healthy hair and naturally active skin restoration. The use of JD Jojoba Oil promotes complete phytoene solubility and serves as a moisture and sensory feature booster. With this product launch, the company has expanded the range of jojoba oil-based skincare and haircare products it offers.

REPORT COVERAGE

Drivers

The increasing demand for premium quality products is majorly driving Vegetable Oils in Beauty and Personal Care Market growth. When people have enough money to spend, they always want to use high-quality and luxury products. Vegetable oils play a crucial role in satisfying those people's trend of self-care and using premium products for beauty purposes. People are widely using natural ingredients in their self-care products, just like vegetable oils, and more companies are taking care of this demand. The trending social media platforms and knowing more about what's in the products are also influencing people's attraction towards premium products. This attribute is significantly boosting the shares of the market.

Also, the growing trend of using natural and organic products is influencing market shares. Recently, more people are becoming health conscious, whether it is inner body or outer body care. Due to this, they are increasingly seeking products that come from plants and don't have any artificial or chemical additives. As vegetable oils are extracted directly from plant sources and don't contain any other additive, they are in great demand. And as they have lots of benefits for good health, they are highly used ingredients in numerous beauty and personal care products. This is greatly driving the demand for the market.

The nutritional value of vegetable oils for hair and skin is further driving the growth of Vegetable Oils in Beauty and Personal Care Market growth. Vegetable oils are loaded with lots of essential nutrients which are good for our skin and hair. Like they contain fatty acids, which help skin cells to stay healthy and strong; also, they have vitamins that keep skin and hair in the best condition. However, vegetable oils have antioxidants that protect skin and hair from any damage which can be caused by pollution or by sunlight. These versatile applications attract manufacturers and consumers to use vegetable oils in their products. This is contributing to an expansion of the market size.

Restraints

One of the major restraints of the market is the high cost of vegetable oils, to affect the cost of production of final products. The increase in the cost of vegetable oils makes it difficult for manufacturers of beauty or personal care products to use them because as their cost goes up, the overall expenses of certain products go up. As a result, products become costly. So, this can be a major restraint to both the consumers and manufacturers because it is not affordable for everyone, and it restraints the demand for these products in people with low budgets. Hence, the rising costs of vegetable oils can restrict market growth.

The increasing competition from synthetic oil products is further restraining vegetable oil in the beauty and personal care market growth. There are various synthetic alternatives available, as they are man-made and might be cheaper to produce and offers some advantages that are significantly used in beauty and personal care products. Though natural products are in good demand, some of the consumer base prefers to use synthetic ones because they are more affordable with specific benefits. As many options are available, customers can be divided into these natural and synthetic market competitions, which restrict market demand.

Opportunities

One of the significant opportunities for the market is vegetable oils are eco-friendly replacements for mineral oils. Nowadays, most cosmetic companies are using mineral oils in their products, as mineral oils are extracted from fossil fuels, and they can harm the environment when used. However, vegetable oils are extracted from plants that can be grown again so, making them a renewable resource. Hence, using vegetable oils in beauty and personal care products can reduce dependence on non-renewable resources and also minimizes the bad impact on the environment. This attribute is opening growth opportunities for the market.

The increasing awareness of people about self-care and health wellness is further offering opportunities for market growth. Beauty and personal care products with vegetable oils have numerous advantages. These oils can nourish the hair and skin, prevent damage and make people feel better and relaxed. As the trend of self-care and health care is growing, consumers prefer beauty and personal care products with vegetable oils and avoid any other alternatives to use natural ingredients only, which is better for health. This is influencing the shares of the market.

Vegetable Oils in Beauty and Personal Care Market Segmentation Analysis

By Type

• Coconut
• Sweet Almond
• Jojoba
• Argan  
• Apricot
• Pomegranate
• Avocado
• Others

The sweet almond segment is anticipated to dominate Vegetable Oils in Beauty and Personal Care Market share, whereas the coconut segment is expected to grow at the fastest rate during the forecast period. Sweet almond contains lots of vitamins, antioxidants, fatty acids, and essential other nutrients, which makes it beneficial for hair and skin. It is mainly used in facial, hair oils, serums, massage oils, etc, due to its non-steaky nature. It is widely used in hair care to give them a shine and promote overall hair health. Hence, it is contributing to an expansion of market size. However, coconut oil is rich in several nutrients and makes it the perfect moisturizer for the hair and skin. It is used in the formation of body lotions, creams, conditioners, and hair masks. This attribute influences the market demand.

By Application

• Color Cosmetics
• Skin Care
• Hair Care
• Others

The hair care segment is leading the Vegetable Oils in Beauty and Personal Care Market share during the projected period. Vegetable oils are immensely being used in the hair care products such as hair conditioners, hair masks, and hair serums so to provide nourishment and strength to hair. Coconut oil, sweet almond oil, avocado oil, etc., are commonly found in vegetable oils in hair care products. They also prevent hair damage and help to reduce frizz. These attributes are causing an increase in the demand for the market. However, the skin care segment is expected to grow at the fastest CAGR during the forecast period. Vegetable oils are largely used in lotions, creams, face wash, serums, and facial oils, providing hydration to the skin and smoothening it. Coconut oil, jojoba oil, and olive oil are some of the most widely used vegetable oils in skin care products as they retain moisture and protect the skin from any harm. Hence this segment is influencing the shares of the market.

By Region Analysis

North America is ruling the vegetable oils in the beauty and personal care products market during the projected period. Owing to the increased focus on natural products and sustainability in this region. Vegetable oils are in great demand as they are extracted from plant sources and are with lots of health benefits. Also, the growing cosmetics and personal care companies in this region further contribute to enhancing the demand for vegetable oils, leading to the expansion of the market size. However, Asia Pacific is expected to grow at the fastest rate in the upcoming years. Owing to the traditional practices of producing and using vegetable oils in major countries like India, China, and Japan. The increasing awareness of natural and Ayurvedic ingredients is leading to a growing demand for vegetable oils in beauty and personal care products, hence influencing the share of the market.

Key Players in the Market

Major Key Players in the Global Vegetable Oils in Beauty and Personal Care Market are

• BASF SE
• CREMER OLEO GmbH & Co. KG
• SOPHIM
• ADM
• Maverik Oils
• Australian Botanical Products
• Zapach International
• Cargill, Incorporated
• Vantage Specialty Chemicals
• OLVEA
• All Organic Treasures GmbH