The jojoba oil market is set for rapid growth over the forecast period. In terms of revenue, the global jojoba oil market accounted for USD 130 Million in 2019 and is expected to reach USD 230 Million by 2026, growing at a CAGR of 8.2%.
The jojoba oil market is set for rapid growth over the forecast period. In terms of revenue, the global jojoba oil market accounted for USD 130 Million in 2019 and is expected to reach USD 230 Million by 2026, growing at a CAGR of 8.2%.
Global Jojoba Oil Market: Overview
Jojoba oil is derived from plant seeds of the jojoba plant. The plant can easily be grown in the southwestern part of the U.S. Since 1970, manufacturers have started using jojoba oil in cosmetics. Today, jojoba oil can be found in nail, skin, and hair products. The oil contains vitamin B, vitamin C, zinc, and copper. It is predominantly used for dandruff remedies. Apart from this, it can also be prominently used in hair loss treatment. Jojoba oil is also having strong demand from the skin treatment market.
Global Jojoba Oil Market: Growth Factors
Aging causes wrinkles. Wrinkles are an ordinary part of the aging process. As people get older, their skin gets drier, thinner, and less elastic, and less able to protect itself from damage. This leads to, creases, wrinkles, and lines on the skin. Cosmetic creams are prominently used to reduce wrinkles. According to data published by the National Institutes of Health, the world’s older population continues to grow at an unprecedented rate. In 2015, 8.5% of people worldwide (617 million) are aged 65 and over. As jojoba oil is predominantly used in anti-aging skincare products, higher demand for cosmetics is anticipated to surge demand for jojoba oil. In addition to this, the demand for jojoba oil in natural and organic cosmetics is surging rapidly. The prolonged use of chemical-based cosmetic ingredients causes a negative impact on human skin. As jojoba oil is used as a basic raw material in cosmetics, the shift towards natural and organic cosmetics is anticipated to fuel demand for jojoba oil.
Global Jojoba Oil Market: Segmentation
Based on segments global jojoba oil market bifurcated into type, application, and sales channel. On the basis of type global jojoba oil is split as refined, cold-pressed. As cold-pressed oil is more chemical-free than refined oil; the segment is estimated to hold a major share in forthcoming years. Based on application, the jojoba oil market is further bifurcated into categories such as pharmaceutical, cosmetics & personal care, industrial, and others. The demand from the cosmetic and personal care industry is anticipated to hold a prominent share of the global jojoba oil market. Also, due to the harmful effects of chemical-based cosmetics demand for organic and natural oil is gaining traction in coming years, which is anticipated to surge demand for jojoba oil. On the basis of sales channels, the jojoba oil market is divided into categories such as B2B and B2C. B2B market is expected to hold a major share owing to its prominent application as a raw material in end-user industries.
Global Jojoba Oil Market: Regional Analysis
On the basis of region, the global jojoba oil market can be split into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. As the U.S. is one of the producers and plantation countries of jojoba oil; it is strongly consumed in North America region. Moreover, an increase in the aging population along with high consumer spending power is anticipated to fuel the demand from the region. Apart from the U.S., Mexico is a prominent country that grows jojoba trees. The supporting climatic conditions in the region are favoring plant growth. Also, personal care industries and cosmetic industries within the region are strongly demanding jojoba oil as a prominent raw material.
Global Jojoba Oil Market: Competitive Players
Prominent players in the jojoba oil market are Gustav Heess Oleochemical Products, PurCell Jojoba, Jojoba Naturals, Inca Oil SA, JD Jojoba Desert, Vantage Specialty Chemicals, Inc., Ecooil, Sivkin Butik, El Baraka For Natural Oils, Earth Expo Company, Desert Whale Jojoba Company, W. Ulrich GMBH, Egyptian Natural Oil Co., and Others.
Global Jojoba Oil Market: Regional Segment Analysis
The aging population is growing rapidly across the globe. As jojoba oil is predominantly used in skincare products, higher demand for cosmetics is anticipated to surge demand for jojoba oil. As jojoba oil is predominantly used in anti-aging skincare products, higher demand for cosmetics is anticipated to surge demand for jojoba oil. In addition to this, the demand for jojoba oil is a demand for natural and organic cosmetics is surging rapidly. The prolonged use of chemical-based cosmetic ingredients causes a negative impact on human skin. As jojoba oil is used as a basic raw material in cosmetics, the shift towards natural and organic cosmetics is anticipated to fuel demand for jojoba oil.
According to Zion Market Research, the jojoba oil market is expected to generate revenue of around USD 230 Million by end of 2026, growing at a CAGR of around 8.2% between 2020 and 2026.
On the basis of region, the global jojoba oil market can be split into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa As U.S. is one of the producers and plantation country of jojoba oil; it is strongly consumed in North America region
Some of the key players in the jojoba oil market are Gustav Heess Oleochemical Products, PurCell Jojoba, Jojoba Naturals, Inca Oil SA, JD Jojoba Desert, Vantage Specialty Chemicals, Inc., Ecooil, Sivkin Butik, El Baraka For Natural Oils, Earth Expo Company, Desert Whale Jojoba Company, W. Ulrich GMBH, Egyptian Natural Oil Co., and Others.
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