Jojoba Oil Market
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Jojoba Oil Market Size, Share & Analysis By Type (Cold Pressed, Refined), By Application (Cosmetics & Personal Care, Pharmaceutical, Industrial, Others), By Sales Channel (B2B, B2C), By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), and Growth Forecast To 2032
Report ID: RV37019 | Published: Feb 2024 | Historical Period: 2018-2022 | Pages: 186 | Price: $3260| Industry: Chemicals and Materials
Jojoba Oil Market Overview 2024:
The global jojoba oil market size was USD 140.7 million in 2023 and is expected to register a rapid revenue CAGR of 7.9% during the forecast period. Key factors such as growing demand for natural products, rapidly expanding beauty and personal care industry, and rising awareness about the benefits of jojoba oil are expected to drive global market growth between 2024 and 2032.
Jojoba is a shrub grown in dry regions of the southwestern US and northern Mexico. The seeds of the Jojoba plant are used to extract oil which is widely used in cosmetics, pharmaceuticals, and other industrial sectors due to its several health benefits. Despite its name, jojoba is technically a liquid wax ester, made up of 98% waxes, vitamins, sterols, alcohols, hydrocarbons, and some free fatty acids. It is rich in vitamins, antioxidants, and anti-inflammatory properties.
Jojoba oil is a popular ingredient in skincare, hair care, and wellness products due to its versatility, efficacy, and natural properties. It is used in skincare products for acne, sunburn, psoriasis, and chapped skin and also in haircare products for hair regrowth in individuals with balding issues, ditch dandruff, protect against damage and promote hair thickness, growth, and delay grays.
However, jojoba oil can be expensive as compared to its alternatives due to its extraction, production limited geographic distribution, and market demand. This can result in low adoption of these products in some economies.
Graphical Overview:
Key Takeaways:
Rising Demand for Organic and Natural Products:
Jojoba oil is rapidly gaining traction due to rising demand for organic and natural products in various industries, including skincare, cosmetics, and personal care, and increasing investments in R&D activities to develop more innovative products across several sectors.
Price Fluctuations and Limited Awareness:
The raw material prices of jojoba oil can fluctuate due to changes in demand, production, and external market conditions. This can limit the adoption of the product in budget-constrained economies. In addition, low awareness of the benefits of jojoba oil and rising availability of substitute ingredients at lower prices are other factors expected to hamper overall market growth during the forecast period.
Market Opportunities:
The global market presents several opportunities for growth and expansion for existing and emerging key players. These key players can expand into emerging markets and introduce novel products and formulations. In addition, they can also focus on sustainable and ethical sourcing to cater to rising demand for natural and organic products.
Type Outlook:
The global market is segmented into cold-pressed and refined based on type. The cold-pressed type is expected to register rapid revenue CAGR over the forecast period owing to factors such as high demand for naturally sourced, chemical-free, high-quality products and increasing preference for cold-pressed jojoba oil due to better preservation of nutrients, high purity, enhanced skincare benefits, improved aroma and flavor, and sustainability.
Application Outlook:
Based on applications, the global market is segmented into cosmetics & personal care, pharmaceutical, industrial, and others. Among these, the cosmetics and personal care sector is expected to account for a significantly larger revenue share between 2024 and 2032. This can be attributed to rapidly expanding cosmetic and personal care industry, high usage of jojoba oil in moisturizers, hair care products, lip balms, lipsticks, makeup products, and anti-aging, and ongoing research on exploring other applications of jojoba oil in other cosmetics.
Regional Outlook:
North America is expected to account for the largest revenue share in the global market due to factors such as rapidly expanding beauty and cosmetic industry, rising demand for natural products, and presence of well-established research and development centers. In addition, presence of leading companies, increasing investments to develop novel products, high disposable income, and growing awareness of sustainable ingredients are expected to drive North America market growth going ahead.
Report Coverage:
| Report Details | Outcome |
| Base Year for Estimation | 2023 |
| Historical Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Segments Covered: | Type, Application, Sales Channel and Region |
| By Type | Cold Pressed, Refined |
| By Application | Cosmetics & Personal Care, Pharmaceutical, Industrial, Others |
| By Sales Channel | B2B, B2C |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Country Scope | United States, Canada, Germany, France, UK, Italy, Russia, China, Japan, South Korea, Southeast Asia, India, Mexico, Brazil, Saudi Arabia, UAE, Turkey |
| Qualitative Info | •Value Chain Analysis •Pricing Analysis •Regional Outlook •Market Trends •Market Share Analysis •Competition Analysis •Technological Advancements |
| Key Players | Purcell Jojoba, Inca Oil SA, Ecooil, ConnOils LLC, Jojoba Naturals, JD Jojoba Desert, Hallstar, Nutrix International LLC, US Organic Group Corp, OPW Ingredients GmbH |
| Customization Scope | 10 Hours of Free Customization and Expert Consultation |
Competitive Landscape:
The global Jojoba Oil market is extremely competitive, comprising several regional and global level key players. Leading key players are focused on adopting various strategic alliances like mergers and acquisitions, partnerships, joint ventures, collaborations, and product launches to maintain their global position and enhance their product offerings. They are also focused on innovation, and scalability, and are adapting to evolving technology trends and consumer needs.
Some Leading Market Companies Listed in the Report:
- Purcell Jojoba
- Inca Oil SA
- Ecooil
- ConnOils LLC
- Jojoba Naturals
- JD Jojoba Desert
- Hallstar
- Nutrix International LLC
- US Organic Group Corp
- OPW Ingredients GmbH
Jojoba Oil Industry Recent Developments:
- In April 2022, Jojoba Desert announced the launch of JD Phyto-Or 1% which helps to repair skin, enhance skin elasticity and improve skin tone.
- In March 2021, Recode, India’s fastest-growing beauty brand, announced the launch of Jojoba Face Oil for healthy skin and hair.
The global jojoba oil market has been segmented based on type, application, sales channel, and region:
By Type:
- Cold Pressed
- Refined
By Application:
- Cosmetics & Personal Care
- Pharmaceutical
- Industrial
- Others
By Sales Channel:
- B2B
- B2C
By Region:
- North America
- United States
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Nordic Countries
- Asia Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Frequently Asked Questions!
- Purcell Jojoba
- Inca Oil SA
- Ecooil
- ConnOils LLC
- Jojoba Naturals
- JD Jojoba Desert
- Hallstar
- Nutrix International LLC
- US Organic Group Corp
- OPW Ingredients GmbH
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