The global Jojoba Oil Market is anticipated to reach a valuation of US$ 142.2 million in 2024, driven by regulatory and certification compliance. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.7% between 2024 and 2034, and reaching a total valuation of approximately US$ 298.0 million by 2034.
The clean beauty movement emphasizes products that are free from potentially harmful ingredients such as parabens, sulfates, and synthetic fragrances. The natural composition of jojoba oil aligns well with the principles of clean beauty, making it a sought after ingredient in formulations that cater to this trend. Manufacturers can capitalize on the growing demand for clean beauty products by highlighting the presence of jojoba oil in their formulations.
The male grooming industry is experiencing significant growth, driven by changing societal norms and an increasing focus on personal care among men. The versatility and non-greasy texture of jojoba oil make it suitable for use in a variety of male grooming products such as beard oils, aftershaves, and facial cleansers. There is an opportunity for manufacturers to develop specialized products tailored to skincare needs of men, as male grooming habits evolve, leveraging the benefits of jojoba oil.
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Consumers are increasingly seeking multi-functional skincare and haircare products that offer multiple benefits in one formulation. The ability of jojoba oil to moisturize, soothe, and protect the skin and hair makes it a valuable ingredient in products such as BB creams, tinted moisturizers, and leave in conditioners. Manufacturers can leverage this trend by incorporating jojoba oil into innovative formulations that address multiple skincare or haircare concerns simultaneously.
Key Takeaways from the Market Study
- Global jojoba oil market was valued at US$ 130.8 million in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 9.2%.
- The market in Japan is expected to expand at a CAGR of 8.4% through 2034.
- By type, the cold pressed segment to account for a CAGR of 7.5% through 2034.
- The absolute dollar growth of the market is projected to reach a value of US$ 155.8 million during the forecast period.
- The market in the United Kingdom is expected to expand at a CAGR of 9.2% through 2034.
"Jojoba oil suppliers and manufacturers can leverage online channels to reach a wider audience, engage directly with consumers, and gather valuable feedback on product preferences and purchasing habits. Investing in e-commerce capabilities and digital marketing strategies can help companies capitalize on prevailing opportunities," says Sneha Varghese (Senior Consultant, Consumer Products & Goods).
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Competitive Landscape
Prominent players in the jojoba oil market are:
- Purcell Jojoba
- Inca Oil SA
- Ecooil
- ConnOils LLC
- Jojoba Naturals
- JD Jojoba Desert
- Hallstar
- Nutrix International LLC
- US Organic Group Corp
- OPW Ingredients GmbH
Company Portfolio
- Inca Oil SA, as one of the pioneers in the jojoba oil industry, has established a strong presence in the market. The company offers a wide range of jojoba oil based ingredients for use in cosmetics, skincare, haircare, and personal care products.
- JD Jojoba Desert is a leading producer of jojoba oil and jojoba derived ingredients. The company specializes in sustainable cultivation practices and offers a diverse portfolio of natural and organic jojoba oil products.
Future Market Insights offers an unbiased analysis of the global jojoba oil market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the jojoba oil market, the market is segmented on the basis of type (cold pressed, refined), application (cosmetics and personal care, pharmaceutical, industrial, others), and sales (B2B, B2C), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
About the Consumer Products Team at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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