Surging Online Sales Driving Market Growth of Beauty Oils, Evaluates Fact.MR.
Published : 15 Jun 2021 Industry: Consumer Goods
As per a revised report published by Fact.MR, the beauty oils market is anticipated to expand at a CAGR of around 8% over the next ten years, with key tier-1 players holding around 35% market share.
The beauty oils market is highly fragmented with regional players acquiring majority of the market share. Additionally, with new entrants in the market, it has become highly competitive, as companies are offering a range of products at relatively lower price.
Moreover, with the proliferation of e-Commerce and social media platforms, it has become relatively easy for new entrants to penetrate the business and reach the targeted audience. Also, consumers are mostly benefited from this process as they can choose from a range of products by comparing the prices and ingredients used in the products.
Key Takeaways from Market Study
- The beauty oils business is anticipated to add significant value by 2031.
- Based on product, orange oil is expected to capture a major market share through 2031.
- Online sales channel has shown significant growth in terms of revenue, with major market players now prioritizing e-Commerce platforms for the sales of their products across geographies.
- Europe is set to dominate the market in terms of production over the next ten years.
- The market in India is expected to rise at a high single-digit CAGR through 2031.
- Due to the COVID-19 pandemic crisis, demand for beauty oils was hit in 2020. However, with the rapid growth of online sales channels across the world, the market is expected to bounce back over the coming months and years.
“Introduction of organic and natural products along with product innovation will give an edge to market players operating in this space,” says a Fact.MR analyst.
Key market players are prioritizing their resources towards online sales channels to gain an edge over their competitors in this industry. Moreover, to cope up with the various needs of health- and eco-conscious consumers, new organic and natural products are being introduced into the market.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global beauty oils market, presenting historical demand data (2016-2020) and forecast statistics for 2021 to 2031.
The study divulges essential insights on the market based on the product (lemon, lime, orange, mint, peppermint, bergamot, jasmine, geranium lavender, lavandin, and vetiver), use (haircare, skin care, makeup, and perfumes), and sales channel (modern trade, franchise outlets, specialty stores, and online stores) across major regions of the world (North America, Latin America, Europe, Japan, APEJ, and MEA).
About the Retail & Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Retail & Consumer Goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the retail industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant – Retail & Consumer Goods