Vegetable Oils In Beauty And Personal Care Market Report

“The vegetable oils in beauty and personal care market size were US$ 6.71 billion in 2023 and is likely to grow at a robust CAGR of 12.3 % in the long run to reach US$ 19.05 billion in 2032”.

Market Dynamics

Introduction

Vegetable oils have been used in beauty and personal care products since time immemorial because of their skin nourishing and moisturizing abilities. These include plant oils like avocado, coconut, argan, and jojoba oils which are packed with vitamins, antioxidants, and essential fatty acids that are beneficial to the skin and hair. Vegetable oils form a part of the cosmetic industry where they are used as natural moisturizers and emollients in skincare products to replace the skin’s lost lipids and retain moisture. They can also be soothing and anti-inflammatory and therefore be good for sensitive or irritated skin. Furthermore, the use of some vegetable oils, such as rosehip oil, is beneficial to the skin due to the presence of vitamin A and antioxidants, which are essential for the skin to reduce the appearance of scars, fine lines, and uneven skin tone. One of the major factors for the increased application of vegetable oils in the beauty and personal care market is the increasing demand for natural and sustainable ingredients among consumers. With the increased knowledge of the dangers that synthetic chemicals pose to human health and the environment, consumers are now on the lookout for products that are made from plant-based ingredients because these are considered safer and more sustainable. Another driver is the growing clean beauty movement where consumers demand products that are not only effective but do not contain harmful ingredients such as parabens, sulfates, phthalates, etc. Vegetable oils can be easily positioned within this framework as they are regarded as clean and pure and do not undergo rigorous processing. In addition, the wide range of functional properties of vegetable oils highlights the interests of consumers who look for multifunctional cosmetic products for skin and hair care. From hydrating thirsty skin or calming itchy patches to healing damaged locks, vegetable oils provide effective answers to a range of beauty problems. Moreover, there has been a rise in the awareness of living a healthy lifestyle and self-care, which has increased the desire for natural products that support good health. Vegetable oils resonate with this trend by providing natural and plant-derived solutions not only for beauty but also for promoting a feeling of well-being and cultivating personal care practices.

Recent Market JVs and Acquisition:

• In June 2022, Unilever has recently announced its plans to invest $ 120 million in a new partnership with the company Genomatica. The partnership will focus on creating biodegradable and vegan replacements for palm kernel oil, which is an essential component in many cosmetic and skincare products.

Product Development:

• In January 2023, Burt’s Bees recently launched a new line of hair care products called “Burt’s Bees Natural Hair Care.” It is worth noting that the active ingredients in this line are organic vegetable oils, such as sweet almond oil, avocado oil, and shea butter. These oils are specifically chosen depending on their nourishing and moisturizing ability to ensure many benefits for hair.

Market Segments' Analysis

By Type

“Shea oils are expected to remain the dominant type in the market during the forecast period”.

• The vegetable oils in the beauty and personal care market are segmented into orange, sweet almond oil, coconut oil, sesame oil, avocado oil, argan oil, macadamia oil, castor oil, shea oil, apricot oil, pomegranate oil, evening promise oil, borage oil, baobab oil, jojoba oil, and other types.
• Shea oil has various and multiple functions when used to make beauty and personal care products. It is well known for having hydrating, moisturizing, nourishing, and soothing capabilities, making it ideal for different skin types and skin concerns.
• Shea oil contains a high concentration of fatty acids and vitamins E and A as well as other antioxidants that are instrumental in moisturizing, nourishing, and healing the skin and hair. The presence of oleic acid and linoleic acid in this oil makes it effective for skin and hair care treatment.
• Shea oil also has certain compounds like cinnamic acid and lupeol cinnamate that have anti-inflammatory and healing properties. This makes it ideal for healing and relaxing inflamed or sensitive skin as well as dealing with problems such as eczema and psoriasis.
• Although it is one of the densest oils, Shea oil is non-comedogenic so it will not cause pores to clog or result in acne. This makes it applicable in skin care products that are used on the facial part such as moisturizers, serums, and cleansers.
• Shea oil is said to be extracted from the nuts of Shea tree which is found in West Africa. The extraction of Shea oil is usually carried out in a traditional and environmentally friendly way, supporting the local population and preservation of biodiversity. This is in tandem with consumers’ demand for products that have been processed with responsibly sourced and sustainable ingredients.

By Application

“Skin care is expected to remain the dominant application in the market during the forecast period”.

• The market is segmented into color cosmetics, skincare, hair care, and other applications.
• There is an increasing trend to look for natural and plant-based formulations as consumers become more aware of what they are putting on their skin. Vegetable oils are portrayed as mild, potent, and compatible with the clean beauty trend, and this fuels their applications in skincare.
• Vegetable oils contain a lot of good ingredients that are beneficial to the skin such as moisturizing, nourishing, and protecting components. They can be added to different skincare products, including moisturizers, serums, cleansers, and masks, depending on the type of skin and its problems.
• Due to the high demand for taking care of the skin in every way, individual care, and vegetable oils that can be used to solve various skin problems. Whatever the type of skin – dry, sensitive, aging, or acne-prone, there are oils that address these concerns appropriately, hence their application in cosmetics products.
• Most vegetable oils contain antioxidants, vitamins, and fatty acids that are useful in delaying the occurrence of aging signs such as fine lines, wrinkles, and loss of elasticity.

By Nature

“Organic is expected to remain the dominant nature in the market during the forecast period”.

• The market is segmented into conventional and organic.
• Consumers are becoming wary about the presence of synthetic chemicals and harmful pesticides used in traditional agricultural methods. Organic products are considered safer and healthier due to their origin – these products are manufactured without any synthetic fertilizers, pesticides, or GMOs.
• Organic farming focuses on diversity and natural environmental conditions. Organic farming also involves minimizing the use of synthetic chemicals and encourages the use of natural soil fertility management which helps in environmental conservation, pollution, and ecosystem control. This is in line with the current consumer trends that are leaning to environmentally sustainable products and practices.
• Organic certification involves the process of meeting and maintaining organic standards and regulations that pertain to the organic product from the farm gate to the market. Buyers are willing to pay this premium because they want the assurance that the product meets certain standards of product purity; and that it was produced and processed using organic farming principles.
• Organic crops are deemed to be of higher nutritional value and taste than equivalent conventionally produced ones. Research has also shown that GMO fruits, vegetables, and other GMO ingredients may lack certain antioxidants, vitamins, and minerals giving organic produce its perceived health benefits and superior quality.

Regional Analysis

“North America is expected to remain the largest market for vegetable oils in beauty and personal care during the forecast period”.

• North America has a well-developed market for beauty and personal care products, with consumers showing a high level of awareness regarding ingredient safety, efficacy, and sustainability. As a result, there is a growing demand for natural and plant-based ingredients like vegetable oils in beauty and personal care formulations.
•   The beauty and personal care market of North America is already established, and the consumers are highly conscious about the safety and effectiveness of the products along with environmental concerns. Consequently, there is an increasing desire to adopt natural and plant-based products such as vegetable oils for beauty and personal care applications.
• Organic and natural cosmetics – the concept of ‘clean beauty’ is especially prevalent in North America. People in the region value natural products that do not contain toxic chemicals or synthetic ingredients, and this has led to increasing interest in vegetable oils as clean and safe options for skincare and haircare products.
• Consumers in North America are gradually becoming Health and Wellness conscious and consider skincare and hair care as basic self-care needs. Vegetable oils are rich, moisturizing, and skin-loving and consumers have taken a positive note of new products for overall health and beauty.
• The North American beauty and personal care industry is recognized for its R&D and product development skills. There is a high number of companies in the region that keep on innovating new formulations and other products that now incorporate the use of vegetable oils to be able to cater to the ever-changing demands and trends of the market.

Key Players

Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the vegetable oils in beauty and personal care market.

Here is the list of the Top Players (Based on Dominance)

• Archer Daniel Midlands Company
• CARGILL
• Ingredion Incorporated
• Tate & Lyle
• Avebe U.A.
• Royal Ingredients Group
• Roquette Freres
• Emsland
• Grain Processing Corporation
• AGRANA

Note: The above list does not necessarily include all the top players of the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The global vegetable oils in beauty and personal care market are segmented into the following categories. 

Vegetable Oils in Beauty and Personal Care Market, by Type

• Orange (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Sweet Almond Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Coconut Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Sesame Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Avocado Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Argan Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Macadamia Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Castor Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Shea Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Apricot Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Pomegranate Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Evening Promise Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Borage Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Baobab Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Jojoba Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Other Types (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Vegetable Oils in Beauty and Personal Care Market, by Application

• Color Cosmetics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Skin Care (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Hair Care (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Other Applications (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Vegetable Oils in Beauty and Personal Care Market, by Nature

• Conventional (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Organic (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Vegetable Oils in Beauty and Personal Care Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s vegetable oils in beauty and personal care market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

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Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

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