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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Jojoba Oil Market Outlook
The global jojoba oil market stood at a volume of 20.92 KMT in 2023. The market is further expected to grow at a CAGR of 7.2% between 2024 and 2032 to reach 39.24 KMT by 2032.
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Jojoba oil can be used to protect the skin and prevent ageing, leading to its increased demand in the production of various cosmetics such as sunscreens, lotions, skin creams, moisturisers, lipsticks, and balms, which is driving the industry globally. It is also used as a carrier for medicinal formula, antibiotic stabilizer, and depressant appetite in pharmaceutical products.
Market Segmentation
Jojoba oil is extracted from jojoba seeds and is a source of vitamins like B, E, and C, and minerals like copper and zinc.
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The global jojoba oil market can be divided based on segments like application, distribution channel, and region.
On the basis of its application, the market can be broadly categorised into:
- Cosmetics
- Pharmaceuticals
- Industrial
- Others
Based on distribution channel, the industry can be classified into:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Analysis
The global jojoba oil market is driven by its increased demand for use in personal care products such as moisturisers, shampoos and conditioners, lipsticks, and skin ointments. The growing demand for personal care products with a high content of vitamin B, E, and C, and minerals like copper and zinc is likely to increase the demand for jojoba oil. It is also expected that the growing awareness regarding the consumption of jojoba oil among consumers will increase its demand, especially in the Asia Pacific region. It is further anticipated that the rapidly growing organic personal care industry will fuel the industry growth in emerging economies such as China and India. Increasing awareness of natural and organic cosmetics and products for personal care will have a beneficial effect on consumer demand, thus, aiding the overall industry growth in the forecast period.
Jojoba oil is also used as a foam control agent, electrical insulator, transformer oil, plasticiser, facial, adhesive, and more due to its numerous features such as high viscosity index, additive compatibility, and miscibility in mineral oil base stocks. Besides that, in multiple elevated temperatures and pressure applications such as hydraulics, it plays a significant role as a lubricant. In addition, it also functions as an oil transformer, grading, and cutting oil.
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Competitive Landscape
The report gives a detailed analysis of the following key players in the global jojoba oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Ecooil
- Jojoba Desert (A.C.S) Ltd.
- Purcell Jojoba International, LLC
- The Jojoba Company
- Inca Oil SA
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global jojoba oil market attained a volume of nearly 20.92 KMT.
The market is projected to grow at a CAGR of 7.2% during the forecast period of 2024-2032.
The market is estimated to grow in the forecast period of 2024-2032 to reach about 39.24 KMT by 2032.
The major drivers of the market include rising disposable incomes, growing health awareness, increasing focus on appearance and aesthetics, rising demand from the developing regions, increasing demand in cosmetics industry, utilisation as a lubricant and oil transformer, and growing retail sector.
The key trends guiding the growth of the jojoba oil market include the growing demand for natural products and launch of organic and cruelty free cosmetics range.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major applications of the product in the market include cosmetics, pharmaceuticals, and industrial, among others.
The distribution channels for the product include supermarkets and hypermarkets, convenience stores, and online stores, among others.
The major players in the market are Ecooil, Jojoba Desert (A.C.S) Ltd., Purcell Jojoba International, LLC, The Jojoba Company, and Inca Oil SA, among others.
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