Cosmetic Oil Market Size To Reach $84.63 Billion By 2030

Cosmetic Oil Market Growth & Trends

The global cosmetic oil market size is expected to reach USD 84.63 billion by 2030, registering to grow at a CAGR of 5.2% from 2024 to 2030 according to a new report by Grand View Research, Inc. Increasing use of beauty oils by the hair and skin care industries is the key factor driving the growth for the market. Cosmetic oils play a vital role in treating various hair and skin problems like dandruff, acne, eczema, and dermatitis. Such oils have natural and organic ingredients used to manufacture hair oils, facial oils, massage oils, and other cosmetic products. These factors are driving their demand among consumers as a part of their daily care regime.

Moreover, several antimicrobial, moisturizing, and anti-inflammatory properties of the product will drive the demand further. For instance lavender oil soothes minor burns and sunburns whereas tea-tree oil carries anti-inflammatory properties and is useful to treat eczema or acne. Some of the popular cosmetic oils, such as olive oil and coconut oil, are long-time personal care favorites worldwide, hence are used to manufacture a number of hair and skin care products with multiple formulation. Increasing usage of organic ingredients, such as essential oils, in personal care products appears to have set a new standard in the cosmetic industry.

The essential oil segment dominated the market with a revenue share of 25.9% in 2023. Europe is expected to be the second largest market due to rising demand for product, especially almond oil, in the region. Asia Pacific occupies the largest share of the market. Countries, such as South Korea, are known for beauty trends and innovations, featuring sophisticated ingredients and aesthetically appealing packaging and represents nearly 2.9% of the global market.

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Cosmetic Oil Market Report Highlights

• Asia Pacific dominated the market in 2023 accounting for a revenue share of 33.7%. The region has an emerging cosmetic oil market, with a growing disposable income of the population and increasing adoption of skincare and haircare products.

• The olive oil segment is anticipated to grow at a significant CAGR over the forecast period. Customers are shifting towards natural and organic ingredients and choosing olive oil over synthetic oil.

• The conventional segment dominated the market in 2023. The cosmetics industry has long relied on traditional oils such as mineral and coconut for their affordability, availability, and established production methods.

• Key companies in the cosmetic oil market are L’Oreal S.A.; Unilever; Shiseido Co., Ltd.; Avon Products, Inc.; Bramble Berry etc.

Cosmetic Oil Market Segmentation

Grand View Research has segmented the global cosmetic oil market based on product, nature, application, and region:

Cosmetic Oil Product Outlook (Revenue, USD Million, 2018 - 2030)

• Almond Oil

• Olive Oil

• Coconut Oil

• Essential Oil

• Others

Cosmetic Oil Nature Outlook (Revenue, USD Million, 2018 - 2030)

• Organic

• Conventional

Cosmetic Oil Application Outlook (Revenue, USD Million, 2018 – 2030)

• Hair Care

• Skin Care

• Lip Care

• Others

Cosmetic Oil Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

• Europe

  • Germany

  • France

• Asia Pacific

  • South Korea

  • Singapore

List of Key Players in Cosmetic Oil Market

• L’Oreal Group

• Unilever

• Coty Inc.

• Shiseido Co. Ltd

• Innisfree Cosmetics Pvt. Ltd

• Bramble Berry

• Kao Corporation

• Uncle Harry;s Natural Products

• FARSALI

• SOPHIM IBERIA S.L.