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Beauty oils are poised to play an increasingly greater role in the personal care industry, primarily for hair and skin care. The various products in the beauty oils are gathering steam in the industry for their large number of purported protective benefits for hair, skin, and nail. Beauty oils are appearing to be increasingly promising for antimicrobial and anti-inflammatory properties for repairing and treating various skin conditions such as acne and dry skin and for maintaining healthy hair. The beauty oils market is expected to garner increasing revenues in the near future from the rising adoption of eco-friendly production methods by personal care products manufacturers in various parts of the world. The growing popularity of cold-pressed methods of extracting beauty oils is a case in point.
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Brands across the world are also capitalizing on growing consumer trends in the beauty oils market, underpinned by sustainable beauty products. To this end, they are developing beauty oils for green cosmetics such as coconut, soybean, and palm. The beauty oils market is also expected to witness new avenues from the rising popularity of customizable beauty brands. In recent years, a growing number of manufacturers of beauty oils have shown propensity toward exploiting the natural goodness of beauty oils and go for better formulations for their products.
Fact.MR foresees massive potential of the beauty oils market. The global beauty oils market is projected to reach worth of US$5,895.6 million revenue by the end of 2022. The global market is anticipated to garner a CAGR of 5.8% during 2017–2022.
The rising number of beauty oils-based skin care products targeting the needs of discerning consumers is a notable factor fueling the steady expansion of the beauty oils market.
The broad types of products in the beauty oils market are lemon and lime, orange, mints, peppermint, bergamot, jasmine, geranium, lavender or lavandin, and vetiver. Among these, orange beauty oil is expected to garner the most attractive sales during the assessment period of 2017–2022. During the period, the orange beauty oils market is projected to gain incremental opportunity of more than US$ 300 million. The segment will reach a worth of US$1,400 million by 2022 end. Meanwhile, the demand for lemon and lime beauty oils is also anticipated to grow at a steady pace over this period.
The various industrial use segments in the beauty oils market are hair products, skin care, makeup products, and perfumes, among other uses. Of all the segments, beauty oils for hair products are the most prominent category and is expected to witness rapid strides for the end-use application in the near future. The segment is projected to contribute revenues worth of US$2,800 million by 2022 end. This is expected to be trailed by the skin care industry, attributed to the extensive demand for beauty oils.
The various sales channels in the beauty oils market are modern trade, franchise outlets, specialty stores, and online. Of these, the modern trade channel is expected to hold the major share in the market. By 2017 end, among all sales channels, the segment contributed for about two-fifth of the share, in revenue, in the global beauty oils market. Apart from modern sales channel, the sales of beauty oils through specialty stores will gain traction throughout the assessment period.
On the regional front, Asia-Pacific Excluding Japan (APEJ) is expected to hold the major share in the global beauty oils market. The easy availability of plant-based ingredients and constant drive for product innovations in the various economies of the region are factors that will help APEJ stay ahead of the pack.
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On the other hand, the North America beauty oils market is expected to expand at above average growth rate during 2017–2022. By the end of this period, the regional market is projected to cross a worth of US$1,000 Mn in revenues.