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Jojoba Oil Market Size, Industry Outlook Report, Regional Analysis, Application Development, Price Trends, Competitive Market Share & Forecast, 2024 – 2032
- Report ID: GMI2529
Jojoba Oil Market Size
Jojoba Oil Market will likely grow at a significant CAGR over 2024-2032, owing to the presence of free fatty acids and rich nutritional properties, making jojoba oil an essential ingredient, particularly in the cosmetic, personal care, and pharmaceutical industries.
The increasing consumer demand for natural and organic skincare products is leading to a surge in the use of jojoba oil as a key ingredient in cosmetics and personal care formulations. Moreover, advancements in extraction techniques and sustainable cultivation practices are enhancing the production efficiency and eco-friendliness of jojoba oil, further fueling its popularity among manufacturers and consumers.
However, the lack of commercialization of jojoba oil will likely restrain product demand in the coming years. The production yield of jojoba seeds highly depends on farming methods. The demand & supply gap is the biggest hurdle for the industry players. Besides, the increasing prices owing to the Russia-Ukraine conflict are anticipated to restrain the development of the global market.
Jojoba Oil Market Trends
The product’s versatile properties make it a sought-after ingredient in various skincare products, including moisturizers, serums, and cleansers. Its resemblance to the skin's natural oils makes it suitable for all skin types, including sensitive and acne-prone skin. Additionally, jojoba oil's high stability and resistance to oxidation make it a preferred choice for extending the shelf life of cosmetic formulations. The growing awareness of jojoba oil's benefits, such as its moisturizing, anti-inflammatory, and antimicrobial properties, among consumers and cosmetic manufacturers, favoring the industry outlook.
Jojoba Oil Market Analysis
The cosmetics & personal care segment is projected to grow considerably by 2032, as the jojoba oil prevents aging and provides skin protection. It is used widely in lotions, sunscreens, skin creams, lipsticks, moisturizers, and balms.
Based on the distribution channel, the online retail segment will depict strong growth during 2024-2032, owing to the rapid growth of smartphone users across the globe. As per credible reports, the number of smartphone users worldwide in 2023 is estimated to depict a 4.2% annual increase, reaching 6.8 million. In addition, the presence of giants such as Walmart and Amazon, coupled with lower pricing compared to offline stores, an easy return policy, secure payment, attractive offers, discounts, and doorstep delivery are some of the key factors slated to enhance the sales of jojoba oil through online platforms, favoring the segment growth.
North America jojoba oil market is expected to exhibit notable CAGR between 2024-2032, backed by high per capita income. Furthermore, advancements in cultivation techniques and the adoption of sustainable farming practices are ensuring a consistent and reliable supply of high-quality jojoba oil, further stimulating the regional market growth.
Jojoba Oil Market Share
Key players in the jojoba oil industry include:
- Jojoba Company
- Desert Whale Jojoba Company
- Shell (Ecooil)
- Purcel Jojoba International
- Inca Oil SA
- Kendo Holdings Inc. (LVMH)
- Eve Taylor London, U.S.
- International Trading Corporation
- Creative Nail Design. Inc.
- Innocosma Organics
- Logocos Naturkosmetik AG
The market is consolidated owing to a limited number of manufacturers. These companies are investing huge capital in R&D projects to offer unique products to consumers.
Jojoba Oil Industry News
- In September 2023, the skin care brand Junoco unveiled its Lip Milk, featuring jojoba oil beads, acerola cherry, and vitamin C. This dual-purpose product offers quick relief for daytime chapped lips and acts as an intensive lip mask at night.
- In April 2023, Nurraysa, that has risen as a prominent brand in the cosmetics sector, unveiled its premium edition of the Perfect Glow cushion foundation, enriched with jojoba oil.
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