Vegetable Oils in Beauty and Personal Care Market Growth Opportunities by 2027

The global vegetable oils in beauty and personal care market is projected to reach USD 5.8 billion by 2027 from USD 4.4 billion by 2022, at a CAGR of 5.7% during the forecast period in terms of value. Vegetable oils are traditionally used in cosmetic products such as day creams, night creams, lotions, lipsticks, and shampoos. The wide range of fatty acids in vegetable oils drives consumer demand, as there is a rising trend for natural and organic products. Consumer demand for healthy, natural ingredients is in tandem with the rising demand for health consciousness among consumers and the sustainability quotient. A clean label is the new norm among consumers today. The willingness to pay more for recognizable ingredients is strongest in the US, highlighting the importance of clean and clear labeling in the American market. In this report, the vegetable oils in beauty and personal care market have been studied based on type, application, nature, and region.

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Drivers: Rising demand for premium quality products

Recently, there has been an increase in premium cosmetic consumers, specifically in the North American and European regions. This can be attributed to the rising awareness of various skin and hair health benefits associated with natural ingredients-based cosmetic products. As a result, consumers are conscious and always seek transparency on the premium cosmetic products they use daily. Consumers do not prefer synthetic mineral oil-based skin and personal care products, due to which cosmetic manufacturers are now strategizing on using natural ingredients. Nuts and vegetable-based oils fall under natural ingredients that cosmetic product manufacturers, specifically from the premium segment, seek the most. Such specialty natural ingredients enable key functionalities such as moisturization and skin healing properties. Hence, the consumers' concern over the transparency of cosmetic products eventually triggers a rising demand for vegetable oils.

Opportunities: Rising Demand for Vegetable Oil-Based Skincare Products to Drive the Market

Vegetable oils in skin care products are beneficial for repairing damaged and dry skin. Vegetable oils naturally contain qualities known to nourish and protect the skin over beauty and personal care products with chemicals. Vegetable oils contain fatty acids, vitamins, nutrients, minerals, and antioxidant properties to improve skin complexion, repair damage, regenerate, tone, and protect the skin, hydrate, moisturize, and delay signs of aging. Oils obtained from avocados, coconuts, sunflowers, and argan kernels possess nourishing qualities that soothe and soften skin tissues. Biotique (India) offers Almond Oil Deep Cleanse Purifying Cleansing Oil which contains almond, sesame, neem, and staff tree oils.

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Vegetable oils are an environmental-friendly substitute for mineral oils

Mineral oils and waxes are primarily saturated hydrocarbon mixtures with straight chain, branched, ring structures and carbon chain lengths greater than C14. These have been used in skin and lip care cosmetic products for decades due to their excellent skin tolerance, high protecting and cleansing performance, and wide range of viscosity options.

In recent years, consumers have been protesting using mineral oil in cosmetic products. The main arguments against mineral oil in cosmetics are that it harms the environment and may contain contaminants. Mineral oil is derived from a finite resource. As a result, protesters argue that it is not sustainable and cannot be used in cosmetic products since it harms the environment. Similarly, protesters claim that mineral oil is contaminated and even carcinogenic.

The North American Vegetable Oils in Beauty and Personal Care Market is Primarily Driven by Growth in the US and Canadian Markets

The market in North America is highly diversified, and manufacturers largely focus on developing vegetable oils to cater to the demands of end users. The native Americans of northern Mexico and the southwestern US have regarded jojoba oil for years due to its valuable qualities. It is used for multiple, varied cosmetic & medicinal purposes, such as hair dressings, body oils, and skin salves.

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The key players in this market include BASF SE (Germany), CREMER OLEO GmbH & Co. KG (Germany), SOPHIM (France), ADM (US), Maverik Oils (US), Australian Botanical Products (Australia), Zapach International (India), Ernesto Ventós S.A. (Spain), Louis Dreyfus Company (Netherlands), Cargill, Incorporated (US), Vantage Specialty Chemicals (US), OLVEA (France), All Organic Treasures GmbH (Germany), Gustav Heess GmbH (Germany), PRODIGIA (Morocco), Jayant Agro-Organics Limited (India), Sigma Oil Seeds B.V. (Netherlands), and ConnOils LLC (US).​

Vegetable Oils in Beauty and Personal Care Market: Growth Opportunities and Recent Developments

The use of vegetable oils in beauty and personal care products has gained significant popularity in recent years due to their numerous benefits for skin, hair, and overall health. Vegetable oils are extracted from various parts of plants such as seeds, nuts, fruits, and flowers and are rich in essential fatty acids, vitamins, and antioxidants.

Industry Analysis:

The global vegetable oils in beauty and personal care market was valued at USD 4.4 billion by 2022 and is projected to reach USD 5.8 billion by 2027, at a CAGR of 5.7% during the forecast period in terms of value. The market is primarily driven by the increasing demand for natural and organic products, rising awareness of the harmful effects of synthetic ingredients, and the growing trend of using plant-based ingredients in beauty and personal care products.

Growth Opportunities:

Rising demand for natural and organic products: Consumers are becoming more conscious about the ingredients used in their beauty and personal care products and are increasingly choosing natural and organic products over synthetic ones. This presents a significant growth opportunity for vegetable oils in beauty and personal care products.

Growing trend of using plant-based ingredients: The trend of using plant-based ingredients in beauty and personal care products is gaining popularity due to their perceived safety, sustainability, and effectiveness. Vegetable oils, being plant-based, offer a natural and healthy alternative to synthetic ingredients.

Increasing demand for anti-aging products: Vegetable oils such as argan oil, rosehip oil, and jojoba oil are rich in antioxidants, vitamins, and essential fatty acids that help to reduce the signs of aging, making them a popular ingredient in anti-aging products.

Trends:

Multi-functional products: Consumers are looking for products that offer multiple benefits, such as moisturizing, nourishing, and protecting the skin. Vegetable oils, being versatile ingredients, are increasingly being used in multi-functional beauty and personal care products.

Customization: Personalization and customization are becoming popular trends in the beauty and personal care industry. Consumers are looking for products that are tailored to their specific needs and preferences. Vegetable oils offer a variety of benefits that can be customized based on individual needs.

Sustainability: Sustainability is a growing concern among consumers, and they are increasingly looking for products that are eco-friendly and sustainable. Vegetable oils, being natural and renewable, offer a sustainable alternative to synthetic ingredients.

In conclusion, the vegetable oils in beauty and personal care market is expected to continue growing due to the increasing demand for natural and organic products, growing trend of using plant-based ingredients, and the rising demand for anti-aging products. The industry trends of multi-functional products, customization, and sustainability are expected to shape the future of the market.

Upcoming Growth Trends in the Vegetable Oils in Beauty and Personal Care Market

According to MarketsandMarkets, the global vegetable oils in beauty and personal care market is projected to reach USD 5.8 billion by 2027 from USD 4.4 billion by 2022, at a CAGR of 5.7% during the forecast period in terms of value. Vegetable oils are traditionally used in cosmetic products such as day creams, night creams, lotions, lipsticks, and shampoos. The wide range of fatty acids in vegetable oils drives consumer demand as there is a rising trend for natural and organic products.

 

 

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The key players in this market include BASF SE (Germany), CREMER OLEO GmbH & Co. KG (Germany), SOPHIM (France), ADM (US), Maverik Oils (US), Australian Botanical Products (Australia), Zapach International (India), Ernesto Ventós S.A. (Spain), Louis Dreyfus Company (Netherlands), Cargill, Incorporated (US), Vantage Specialty Chemicals (US), OLVEA (France), All Organic Treasures GmbH (Germany), Gustav Heess GmbH (Germany), PRODIGIA (Morocco), Jayant Agro-Organics Limited (India), Sigma Oil Seeds B.V. (Netherlands), and ConnOils LLC (US).

 

BASF SE is a chemical manufacturing company a portfolio divided into major segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. It has a wide range of customer base in nearly all sectors worldwide. It operates six chemical production sites and 232 additional production sites in 90 countries across Africa, the Asia Pacific, Central America, Europe, North America, South America, and the Middle East.

 

In February 2022, BASF made a second-round funding investment in B2B Cosmetics in February 2022. After BASF invested in B2B Cosmetics in 2019, the companies worked together to develop the Emuage technology, a system that sends consumers freshly made, personalized cosmetics. This will help the company seep-up the process of new product development.

 

Louis Dreyfus Company is a global merchant and processor of agricultural goods, operating a significant network worldwide. The Group operates its global business under two segments: Value Chain and Merchandizing. The company is present in Europe, Middle East & Africa, Asia, North America, and South America. It has its presence in 180 locations worldwide and over 100 different countries.

 

In September 2021, Louis Dreyfus Company completed the sale of an indirect 45% equity investment in Louis Dreyfus Company B.V. (LDC) to ADQ. ADQ is one of the largest holding corporations in the Middle East, with headquarters in Abu Dhabi. This partnership enabled both firms to increase financial gains and enhance the UAE's economic cluster.

 

Cargill, Incorporated is one of the largest globally diversified services companies catering to demand in various industries. The company has its global operations in major key segments: food ingredients & bio-industrial, animal nutrition, protein & salt, agricultural supply chain, metals & shipping. The company operates in 70 countries and has a sales presence in 125 countries across North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa.

 

In December 2020, Cargill acquired Floratech, a leading global provider of innovative natural emollients and derivatives for beauty and personal care applications. This development has expanded Cargill’s operations in the beauty & personal care market.

 

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Natural cosmetics are becoming increasingly popular in Europe with the growing awareness of healthy lifestyles and the gradual shift to cleaner, chemical-free products. The consumer demand for cosmetics products that do not contain chemicals is expected to fuel market growth. Palm oil is well-known in the cosmetics industry. On the other hand, concerns about deforestation are creating a strong demand for environmentally friendly alternatives. Companies in the cosmetics industry aim to replace palm kernel oil-based ingredients in their formulations. Unilever (UK), in collaboration with Geno (India), will invest USD 120 million in biotechnology alternatives for unsustainable ingredients in 2022. The collaborations aim to scale plant-based alternatives to materials like palm oil and fossil fuels for hygiene and personal care products.