Newly released data from the beauty oils market analysis by Fact.MR shows that global demand for beauty oils enjoyed growth of around 6% CAGR from 2016 to 2020. Orange oils are likely to account for 3 out of 10 sales over the coming ten years. Germany is likely to generate significant opportunities for market players, with the beauty industry reaching US$ 15 Bn.
Key Points Covered in Beauty Oils Market Study
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Beauty Oils and How to Navigate
- Recommendation on Key Winning Strategies
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Sales Analysis of Beauty Oils from 2016 to 2020 Vs Market Outlook for 2021 to 2031
Over the past half-decade, the beauty oils business has expanded at a CAGR of around 6%, attributed to rise in demand from countries such as China, India, and Malaysia, along with growing trend of essential oil products in regions such as Europe and North America.
Spending on beauty products have increased by multi fold leading to expansion of beauty oils sales at the same time. Natural and organic beauty products market has expanded significantly owing to new market entrants coupled with product innovation. For instance, 23% y-o-y growth of certified natural and organic beauty product was recorded in 2019, with beauty oils seeing 9th year of consecutive growth.
Moreover, rise in consumer spending coupled with change in consumer preference towards more natural and organic products will boost the demand and sales of beauty oils eventually growing at a CAGR over 8% over the forecast period.
What are the Key Opportunities for Beauty Oil Manufacturers?
Various surveys have talked about the effect that beauty products such as beauty oils have on consumers. For instance, according to a survey, ~83% people felt that it’s better for a beauty product to be organic for the wellbeing of their health.
The emphasis nowadays people giving on ingredients, has paved the way for innovation to cope up with changing consumer needs. For instance, a recent survey revealed that around 53% of the FMCG consumers prefer the absence of undesirable ingredients than the inclusion of beneficial ones.
Additionally, most of beauty oils are organically derived from the extracts of plants which are free from synthetic fillers and toxins with additional health benefits. Moreover, consumers are preferring products that not only satisfies their external beauty but also provide a sense of mindfulness and peace.
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Which Region Offers the Largest Opportunity for Sales of Beauty Oils?
Asia Pacific region is projected to play a vital role in the growth of demand for beauty oils. This is mainly attributed to the growing consciousness towards one’s own appearance coupled with increasing disposable income in the region.
Growing at a higher single-digit CAGR, Asia Pacific has emerged as a promising destination for the sales of beauty oils. Rise in young population joining the workforce in countries such as China, India, and Malaysia has bolstered demand for beauty products.
For instance, total participation of Malaysian women in the workforce in around 46%, thus driving sales of beauty oils in the country.
Why is Europe a Prominent Market for Beauty Oil Products?
Europe is the leading producer of beauty products and is home to 100+ cosmetic manufacturing companies. Additionally, companies in Europe spend relatively high on R&D, i.e. around 7% of their annual turnover, which has gained the confidence of customers.
Moreover, European consumers spend around 1.5X more on beauty products than the average consumers in Asia Pacific, resulting in higher among all other regions.
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What Makes Germany a Hub for Beauty Oil Demand?
Germany is a leading market for beauty and cosmetics products in Europe, with the cosmetic industry valued at US$ 15 Bn. Additionally, rise in number of people opting for organic and natural beauty products has been a major factor behind the growth of beauty oils in the country.
For instance, around 15% of the total beauty products sold in Germany consists of natural or organic ingredients.
Moreover, with German consumers spending 2X more than the average European consumers on beauty oils, the country offers great potential for product growth.
What Prospects Does India Have for Manufacturers of Beauty Oils?
Rising young population along with increasing female participation in the work force has been bolstering the demand and sales of beauty oils in the country. Additionally, rise in awareness regarding various ill effects of synthetic products has changed the consumer preference with demand for more natural products on rise.
Consumers in India are willing to spend around 1.5X than their Asia counterparts on organic beauty products which has benefited the beauty oils industry in a big way.
Moreover, with local manufacturers offering diversified product line up, the growth of beauty oils is evident in the country.
Which Beauty Oil is projected to Remain High in Demand?
The orange oil segment is expected to expand at a steady CAGR of around 5.5%, with major application in skin and hair oil products.
Orange oil is projected to remain high in demand for its use in various beauty products. Properties such as toxin-free and natural with no side-effects make it suitable for its use in the beauty industry.
Moreover, orange oil comes in different variants which makes it possible for its use in different segments therapeutics, aromatherapy and making lotions for various skin conditions. These applications has made orange oils holding a prominent share in the beauty oil segment, i.e. 30% over the next ten years.
Which Sales Channel is Driving Demand for Beauty Oils?
With online shopping growing in trend online sales channel will the most sought out option for purchasing. With the top 20 manufactures still opting for conventional sales channel such as supermarkets and retail stores, change is evident as millennial nowadays want everything at their fingertips.
For instance, around ~US$ 14 Bn were spent by consumers in US through online sales. Growth of online sales can be attributed to the varied product line up it offers and over a range of brand to choose from.
It is noteworthy that the top 20 brands capture 90% of total sales through traditional retail channels, and those same companies have just 14% of share online.
How Has COVID-19 Impacted Sales of Beauty Oils?
Short term impact: Prolonged lockdowns compelled retail stores to shut down in different regions of the world hence impacting sales of cosmetic and beauty products which fell down substantially in prominent markets like China, India and Europe.
For instance, industry sales in February were down by 80% along with y-o-y decrease of 20%, which led to a negative impact on the growth of beauty oils sales. This can be attributed to the decrease in purchasing power of consumers along with change in preference towards healthcare product.
However, online sales of cosmetic products saw an increase of 20% in sales revenue during the pandemic in China, while Sephora’s online sales in the U.S. were up by 30%.
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Key market players are mainly relying on mix of organic and inorganic growth strategies such as product launches, acquisitions and collaboration. Some of the key developments are:-
- In May 2021, Estée Lauder announced completion of its first phase of ownership increment in the DECIEM Beauty Group Inc which is a Canadian based multi brand company. The company now own about 76% of DECIEM Group. Through this Estee tends to expand its market share taking help from the verticals under DECIEM.
Similarly, recent developments related to companies manufacturing beauty oils have been tracked by the team at Fact.MR, which are available in the full report.
|Historical Data Available for||2016-2020|
|Market Analysis||US$ Mn for Value|
|Key Regions Covered||
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
Key Market Segments Covered
- Lemon Beauty Oils
- Lime Beauty Oils
- Orange Beauty Oils
- Mint Beauty Oils
- Peppermint Beauty Oils
- Bergamot Beauty Oils
- Jasmine Beauty Oils
- Geranium Lavender Beauty Oils
- Lavandin Beauty Oils
- Vetiver Beauty Oils
By Industrial Use
- Beauty Oils for Haircare
- Beauty Oils for Skincare
- Beauty Oils for Makeup
- Beauty Oils for Perfumes
By Sales Channel
- Beauty Oils for Sold through Modern Trade
- Beauty Oils for Sold at Franchise Outlets
- Beauty Oils for Sold at Specialty Stores
- Beauty Oils for Sold through Online Stores
Beauty Oils Market: Report Scope
Various assessments, evaluations, and evaluations presented in the report titled “Beauty Oils Market: Forecast, Trend Analysis & Competition Tracking – Global Market insights 2021 to 2031”, takes a closer look at various trends and developments shaping the current outlook and prospects of the market.
The study offers a comprehensive assessment of the opportunities in the beauty oils market and presents detailed estimations of the revenue and size of the global beauty oils market and its broad segments. The report findings reveal projection data of various segments, estimates their share in the global market by 2031 end, and presents figures on year-over-year (Y-o-Y) growth from 2021 to 2031. The study drills into the dynamics of the prevailing competitive landscape and evaluates the key impacting factors.
Chapter 1 – Executive Summary
The first chapter offers a critical overview of the evolution trajectories of the beauty oils market. The section covers concise evaluation of the key prevailing avenues in the beauty oils market and presents insights into emerging investment pockets.
Chapter 2 - Outline of Global Beauty Oils Market
The section sheds light on the taxonomy of the beauty oils market and offers an incisive analysis of the market dynamics. The chapter offers an in-depth assessment of value chain and pricing analysis, key regional opportunities, and major innovations influencing the demand dynamic in the global beauty oils market.
Chapter 3 – Product Type Assessment and Forecasts
The chapter strives to drill into the prospects of various product types in the beauty oils market. The analysis offers insights into key consumer preferences and proclivities impacting the demand of major beauty oils products such as lemon and lime, orange, mints, peppermint, bergamot, jasmine, geranium, lavender or lavandin, and vetiver.
Chapter 4 – Industrial Use Assessment and Forecasts
The chapter presents detailed insights of the various industrial use segments of the beauty oils market. The section offers quantitative analysis of the revenue and the share of these segments during 2021–2031 based on key regions. Various segments include hair care products, skin care, makeup products, and perfumes.
Chapter 5 – Sales Channel Assessment and Forecasts
The section offers a critical overview of various sales channels in the beauty oils market and evaluates the underlying prospects in each of them. Various sales channels analyzed here are modern trade, franchise outlets, specialty stores, and online stores.
Chapter 6 – Regional Assessment and Forecasts
This chapter evaluates the demand and prospects of beauty oils specific to regions. The evaluations includes taking a closer look at current and emerging avenues in key regional markets such as North America, Latin America, Asia Pacific excluding Japan (APEJ), Europe, Japan, and the Middle East and Africa (MEA) .
Chapter 7– North America Assessment and Forecasts
The chapter takes a critical look at regional trends impacting the demand dynamic of beauty oils in the North America market. It offers insight into factors expected to will open new frontiers in various countries of the North America are the U.S. and Canada.
Chapter 8 – Latin America Assessment and Forecasts
The section offers elaborates on developments shaping the current outlook of the Latin America market. Various countries covered in the assessment are Argentina, Brazil, and Mexico.
Chapter 9 – Europe Assessment and Forecasts
The chapter offers in-depth insights into the factors affecting revenue generation by the Europe market for beauty oils. To take a more detailed look at these growth dynamics, the section considers trends in the U.K., Germany, France, Spain, Italy, and the Nordics.
Chapter 10 – Japan Assessment and Forecasts
The section offers a granular assessment of the current avenues and emerging opportunities in the Japan beauty oils market.
Chapter 11 – APEJ Assessment and Forecasts
The insights offered in the section takes a closer look at the opportunities in the APEJ market for beauty oils. Countries whose prospects are analysed include China, India, Malaysia, Thailand, Singapore, and Australia.
Chapter 12– MEA Assessment and Forecasts
The sections evaluates the consumer demand patterns in various countries of the Middle East and Africa.
Chapter 13– Stakeholder Ecosystem and Competitive Landscape
The section presents a critical evaluation of the various elements shaping the competitive landscape of the beauty oils market.
- FAQs -
The global beauty oils market is set to be worth US$ 5.1 Bn in 2021.
Sales of beauty oils expanded at a CAGR of 5.8% from 2016 to 2020, with key regions such as India, China, and Malaysia spearheading majority of growth.
Demand for beauty oils has been augmenting on the back of positive network externalities with regards to heightened per capita personal care spending in key emerging economies.
Extensive investments in R&D to develop herbal oils and sustainable manufacturing practices are influencing present and future growth trajectories.
Germany, India, the U.S., China, and France are expected to generate credible expansion opportunities for beauty oil manufacturers over the decade.
Sales of beauty oils are expected to surge at over 8% CAGR during the 2021-2031 forecast period.
Top manufacturers of beauty oils that are considered tier-1 companies together accounted for more than 1/5 market share in 2020.
North America holds a prominent share in global beauty oil sales and is anticipated to capture more than 1/3 of the market by FY2031.
In terms of value, the U.S., China, and Japan are key exporting countries of beauty oils.
South Korea and Japan’s beauty oils markets are estimated to expand at 4.8% and 5.7% CAGR, respectively, during 2021-2031.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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