As per a revised report published by Fact.MR, the beauty oils market is anticipated to expand at a CAGR of around 8% over the next ten years, with key tier-1 players holding around 35% market share.
The beauty oils market is highly fragmented with regional players acquiring majority of the market share. Additionally, with new entrants in the market, it has become highly competitive, as companies are offering a range of products at relatively lower price.
Moreover, with the proliferation of e-Commerce and social media platforms, it has become relatively easy for new entrants to penetrate the business and reach the targeted audience. Also, consumers are mostly benefited from this process as they can choose from a range of products by comparing the prices and ingredients used in the products.
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Key Takeaways from Market Study
- The beauty oils business is anticipated to add significant value by 2031.
- Based on product, orange oil is expected to capture a major market share through 2031.
- Online sales channel has shown significant growth in terms of revenue, with major market players now prioritizing e-Commerce platforms for the sales of their products across geographies.
- Europe is set to dominate the market in terms of production over the next ten years.
- The market in India is expected to rise at a high single-digit CAGR through 2031.
- Due to the COVID-19 pandemic crisis, demand for beauty oils was hit in 2020. However, with the rapid growth of online sales channels across the world, the market is expected to bounce back over the coming months and years.
“Introduction of organic and natural products along with product innovation will give an edge to market players operating in this space,” says a Fact.MR analyst.
Competitive Landscape
Key market players are mainly relying on mix of organic and inorganic growth strategies such as product launches, acquisitions and collaboration. Some of the key developments are:-
- In May 2021, Estée Lauder announced completion of its first phase of ownership increment in the DECIEM Beauty Group Inc which is a Canadian based multi brand company. The company now own about 76% of DECIEM Group. Through this Estee tends to expand its market share taking help from the verticals under DECIEM.
Similarly, recent developments related to companies manufacturing beauty oils have been tracked by the team at Fact.MR, which are available in the full report.
Key Market Segments Covered
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By Product
- Lemon Beauty Oils
- Lime Beauty Oils
- Orange Beauty Oils
- Mint Beauty Oils
- Peppermint Beauty Oils
- Bergamot Beauty Oils
- Jasmine Beauty Oils
- Geranium Lavender Beauty Oils
- Lavandin Beauty Oils
- Vetiver Beauty Oils
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By Industrial Use
- Beauty Oils for Haircare
- Beauty Oils for Skincare
- Beauty Oils for Makeup
- Beauty Oils for Perfumes
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By Sales Channel
- Beauty Oils for Sold through Modern Trade
- Beauty Oils for Sold at Franchise Outlets
- Beauty Oils for Sold at Specialty Stores
- Beauty Oils for Sold through Online Stores