The new report by Expert Market Research titled, ‘Global Jojoba Oil Demand, Size, Share, Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global jojoba oil market, assessing the market based on its segments like application, distribution channel and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): 16,840 tons
- Forecast CAGR (2023-2028): 7.6%
- Forecast Market Size (2028): 26,107 tons
The growth of the global jojoba oil market is driven by the increasing demand from cosmetics industry. Owing to the growing application of jojoba oil in products such as scar and stretch marks removers, anti-acne gels, and hair care products, among others is aiding the market growth.
Additionally, the jojoba oil is known to be a rich source of various vitamins and minerals, thereby the demand is further boosted from nutraceutical and pharmaceutical products for treating burns and bruises, sores, and cuts. Moreover, the increasing research and development activities by key players for increasing the production output of jojoba oil is likely to propel the market growth over the forecast period.
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Jojoba Oil Industry Definition and Major Segments
Jojoba oil is a vegetable oil obtained by crushing jojoba beans. Chemically is similar to sebum, a natural oil produced by the skin. It is rich in vitamins B, C and E along with other mineral such as copper and zinc. It is easily absorbed by skin and is known for its anti-wrinkle properties. Jojoba oil finds application across various cosmetic products such as creams, lotions, sunscreen, and moisturisers.
On the basis of its application, the market can be broadly categorised into:
Based on distribution channel, the industry can be classified into:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
The regional markets for jojoba include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Jojoba Oil Market Trends
Regionally, North America dominated the global market for jojoba oil over the historic period. This can be attributed to the highest production of jojoba. Additionally, the increasing demand for plant based cosmetic and personal care products is anticipated to further bolster the market over the forecast period. Meanwhile, Latin America is projected to follow North America in terms of production. Mexico is one of the largest producers of jojoba owing to the favourable climatic conditions. Further, the increasing penetration of key cosmetics manufacturers in Asia Pacific is expected to bolster the growth.
Key Market Players
The major players in the market are Ecooil, Jojoba Desert (A.C.S) Ltd., Purcell Jojoba International, LLC., The Jojoba Company, Inca Oil SA, and a few others others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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