Cosmetic Oil Market Size, Share, Growth Analysis, By Product(Olive, Almond, Coconut, Essential), By Function(Skin Conditioning, Moisturizing, Hair Conditioning, Others), By application(Hair care, skincare, and lipcare), By sales channel(Offline and Online), By Region - Industry Forecast 2024-2031

Cosmetic Oil Market size was valued at USD 8.64 billion in 2019 and is poised to grow from USD 9.71 billion in 2023 to USD 24.4 billion by 2031, growing at a CAGR of 12.21% in the forecast period (2024-2031).

Cosmetic oils are carrier oils that are a key component of many hair and skin care products as well as moisturizers, serums, lipsticks, and lip balms. Cosmetic oils have benefits for skin protection including calming rashes, minimizing wrinkles, and constricting enlarged pores to lessen the likelihood of skin acne. Additionally, they are utilized in the creation of cosmetic items such as body lotions, creams, exfoliating agents, and makeup.

The coconut oil product segment is expected to increase favorably throughout the projected period due to strong demand in the Asia Pacific region, particularly India. These oils have a wide range of applications in the cosmetics sector and are probably going to experience strong demand from nations like South Korea, India, and Japan. Many well-known and newer brands have started using coconut oil because of its natural qualities.

Olive oil is also anticipated to be a segment with strong growth. The segment is experiencing a healthy demand as a result of the distinct anti-inflammatory properties of this product. Olive oil and six oil-fed oil-in-cream are the key ingredients in a line of hair spa products by L'Oréal SA (EPA: OR).

US Cosmetic Oil Market is poised to grow at a sustainable CAGR for the next forecast year.