According to a revised analysis released by Fact.MR, the market for beauty oils is expected to grow at a CAGR of about 8% over the next ten years, with the major tier-1 players accounting for about 35% of the market.
The market for beauty oils is extremely fragmented, with regional companies grabbing the majority of the share. Additionally, the market has grown extremely competitive as a result of new arrivals, with businesses providing a variety of goods at relatively reduced prices.
Additionally, it is now relatively simple for new competitors to enter the market and connect with the intended audience thanks to the growth of e-Commerce and social media platforms. Additionally, consumers profit the most from this procedure because it allows them to select from a variety of goods by contrasting their costs and the ingredients they contain.
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Several organic and inorganic growth tactics, including product launches, acquisitions, and partnership, are the mainstays of major market participants. A few of the major developments include:
- In May 2021, Estée Lauder announced completion of its first phase of ownership increment in the DECIEM Beauty Group Inc which is a Canadian based multi brand company. The company now own about 76% of DECIEM Group. Through this Estee tends to expand its market share taking help from the verticals under DECIEM.
Similar to this, the Fact.MR team has kept track of recent events involving businesses that produce beauty oils, and these developments are included in the comprehensive report.
Key Companies Profiled
- L’Oréal S.A
- Beiersdorf Aktiengesellschaft
- The Estée Lauder Companies Inc
- Shiseido Company, Limited
- Burberry Group plc
- Symrise AG
- Givaudan SA
- Grupo Clarín S.A
Key Takeaways from Market Study
- The beauty oils business is anticipated to add significant value by 2031.
- Based on product, orange oil is expected to capture a major market share through 2031.
- Online sales channel has shown significant growth in terms of revenue, with major market players now prioritizing e-Commerce platforms for the sales of their products across geographies.
- Europe is set to dominate the market in terms of production over the next ten years.
- The market in India is expected to rise at a high single-digit CAGR through 2031.
- Due to the COVID-19 pandemic crisis, demand for beauty oils was hit in 2020. However, with the rapid growth of online sales channels across the world, the market is expected to bounce back over the coming months and years.
What Makes Germany a Hub for Beauty Oil Demand?
In Europe, Germany is the top market for cosmetics and beauty products, with a US$15 billion cosmetics market. Additionally, a significant element in the expansion of beauty oils in the nation has been the rise in the number of consumers choosing natural and organic beauty products.
For instance, natural or organic components are present in about 15% of all beauty products sold in Germany.
Additionally, Germany has enormous potential for product growth because German consumers spend 2X as much on beauty oils as the average European consumer.