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. Vegetable oils are traditionally used in cosmetic products such as day creams, night creams, lotions, lipsticks, and shampoos. The wide range of fatty acids in vegetable oils drives consumer demand, as there is a rising trend for natural and organic products. Consumer demand for healthy, natural ingredients is in tandem with the rising demand for health consciousness among consumers and the sustainability quotient. A clean label is the new norm among consumers today. The willingness to pay more for recognizable ingredients is strongest in the US, highlighting the importance of clean and clear labeling in the American market. In this report, the vegetable oils in beauty and personal care market have been studied based on type, application, nature, and region.
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Drivers: Rising demand for premium quality products
Recently, there has been an increase in premium cosmetic consumers, specifically in the North American and European regions. This can be attributed to the rising awareness of various skin and hair health benefits associated with natural ingredients-based cosmetic products. As a result, consumers are conscious and always seek transparency on the premium cosmetic products they use daily. Consumers do not prefer synthetic mineral oil-based skin and personal care products, due to which cosmetic manufacturers are now strategizing on using natural ingredients. Nuts and vegetable-based oils fall under natural ingredients that cosmetic product manufacturers, specifically from the premium segment, seek the most. Such specialty natural ingredients enable key functionalities such as moisturization and skin healing properties. Hence, the consumers' concern over the transparency of cosmetic products eventually triggers a rising demand for vegetable oils.
Opportunities: Rising Demand for Vegetable Oil-Based Skincare Products to Drive the Market
Vegetable oils in skin care products are beneficial for repairing damaged and dry skin. Vegetable oils naturally contain qualities known to nourish and protect the skin over beauty and personal care products with chemicals. Vegetable oils contain fatty acids, vitamins, nutrients, minerals, and antioxidant properties to improve skin complexion, repair damage, regenerate, tone, and protect the skin, hydrate, moisturize, and delay signs of aging. Oils obtained from avocados, coconuts, sunflowers, and argan kernels possess nourishing qualities that soothe and soften skin tissues. Biotique (India) offers Almond Oil Deep Cleanse Purifying Cleansing Oil which contains almond, sesame, neem, and staff tree oils.
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Vegetable oils are an environmental-friendly substitute for mineral oils
Mineral oils and waxes are primarily saturated hydrocarbon mixtures with straight chain, branched, ring structures and carbon chain lengths greater than C14. These have been used in skin and lip care cosmetic products for decades due to their excellent skin tolerance, high protecting and cleansing performance, and wide range of viscosity options.
In recent years, consumers have been protesting using mineral oil in cosmetic products. The main arguments against mineral oil in cosmetics are that it harms the environment and may contain contaminants. Mineral oil is derived from a finite resource. As a result, protesters argue that it is not sustainable and cannot be used in cosmetic products since it harms the environment. Similarly, protesters claim that mineral oil is contaminated and even carcinogenic.
The North American Vegetable Oils in Beauty and Personal Care Market is Primarily Driven by Growth in the US and Canadian Markets
The market in North America is highly diversified, and manufacturers largely focus on developing vegetable oils to cater to the demands of end users. The native Americans of northern Mexico and the southwestern US have regarded jojoba oil for years due to its valuable qualities. It is used for multiple, varied cosmetic & medicinal purposes, such as hair dressings, body oils, and skin salves.
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The key players in this market include 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).
