Jojoba oil refers
to a type of liquid, extracted from the seeds of jojoba plant. Arizona,
California and Mexico are the three major producers of jojoba all across the
globe. Jojoba oil is enriched with high nutrient properties and free fatty
acid. These oils have significant use in cosmetic industry, pharmaceutical
industry, and personal care products. Cosmetic companies such as L’Oreal, JE
internationals and others are investing heavily in the research and development
activities of the jojoba oil. Consumers worldwide prefer jojoba oil products
over other oil or wax products as jojoba oil offers high nutritious value and
less fatty acid than other oils.
Market Size and Forecast
The global
jojoba oil market was accounted for USD 160.3 Million in 2016 and is
anticipated to reach around USD 250 Million by the end of 2024. Further, the market is expected to flourish at a
CAGR of 5.8% over the forecast period. Jojoba oil is likely to witness high
demand owing to the increased demand from the cosmetics industry. By
application, cosmetics and personal care products is showcased to achieve
higher market value over the forecast period owing to the rapid expansion of
cosmetic industry across the globe.
In 2015,
North America region accounted for the highest percentage share followed by
Asia-Pacific. North America region held a dominant share of 39.7% in the jojoba oil market globally.
Further, North America jojoba oil market was valued at USD 60.8 Million in 2016
and is expected to continue its dominance over the forecast period on the
account of growing cosmetic and personal care industry in the region. U.S. and
Mexico are likely to capture the largest market share by the end of 2024 in North
America region.
Asia-Pacific
region is anticipated to witness stupendous growth at a CAGR of 7.6% during the
forecast period i.e. 2017-2024. Increasing inclination towards natural products
in the Asia-Pacific countries is expected to garner the growth of global jojoba
oil market. Further, rising concern of personal healthcare and increasing
disposable income are anticipated to swell the demand for the jojoba oil during
the forecast period.
Market Segmentation
Our-in
depth analysis of the global jojoba oil market includes the following segments:
By
Application
Pharmaceutical
Cosmetic
& Personal Care Products
Industrial
Others
By
Distribution Channel
Hypermarkets/Supermarkets
Convenience
Store
Online
Store
Others
Growth Drivers and Challenges
Increasing
awareness about the benefits of organic and natural products and rising
preference for such products are anticipated to be the dynamic factor behind
the growth of the jojoba oil market across the globe. In addition to this,
major cosmetics companies are using jojoba oil as an ingredient in
manufacturing shampoos, moisturizers, skin creams and others. Apart from this,
rising trend towards manufacturing and supplying herbal medicines is also
expected to intensify the growth of jojoba oil market.
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Rising
disposable income and increasing population in the growing economies such as
China, India and others is envisioned to bolster the growth of jojoba oil
market over the forecast period. Increasing desire for living a healthy life is
propelling the growth of the jojoba oil market. Further, the market is expected
to escalate at a rapid pace during the forecast period on the account of the
rising cosmetics and personal care industry. Beside this, the increasing men
grooming activities is expected to surge the demand for jojoba oil products
over the next few years.
However,
insufficient supply of jojoba oil is anticipated to restrain development of the
global jojoba oil market. Additionally, lack of awareness in undeveloped
nations and low yield of the crop is hampering the growth of the market.
Key Players
Desert
Whale Jojoba Company
Company
Overview
Key
Product Offerings
Business
Strategy
SWOT
Analysis
Financials
Eco Oil
Purcell
Jojoba International
Inca Oil
SA
The Jojoba
Company
Egyptian
Natural Oil Co.
Mosselman
S.A
LaRonna
Jojoba Company
Del Amo
Chemical Company Inc.
Spectrum
Chemicals & Laboratory Products
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The global
jojoba oil market is segmented as follows:
By
Application Market Size & Y-O-Y Growth Analysis
By
Distribution Channel Market Size & Y-O-Y Growth Analysis
By Region
Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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