The latest report by IMARC Group, titled "Jojoba Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global jojoba oil market reached a volume of
18,211.4 Tons in 2022. Jojoba oil is a colorless and odorless natural plant oil extracted from the crushed beans of the jojoba shrub. It is a polyunsaturated liquid wax that is similar to sebum in composition, a natural oil produced by human skin. It contains various vitamins and minerals, including vitamin E and B complex, silicon, chromium, copper, iodine, and zinc. Jojoba oil nourishes dry skin and regulates oil production while reducing the growth of various bacterial and fungal microbes that can damage the skin.
Global Jojoba Oil Market Trends:
The market is primarily driven by the increasing usage of jojoba oil in manufacturing personal care products. Jojoba oil has a long shelf life as it does not oxidize or become rancid and does not break down under high temperatures and pressure. As a result, it is widely utilized in various personal and skincare products such as facial cleansers, scar, and stretch mark minimizers, moisturizers, anti-acne gels, and hair care products, including de-tangling creams, hair conditioners, and hair regrowth serums. Besides this, jojoba oil is used as a diet supplement and as a key ingredient in several pharmaceutical products to treat sores, cuts, bruises and burns, and athlete's foot and warts, representing another growth-inducing factor. Furthermore, key manufacturers are investing in research and development (R&D) activities for developing innovative and cost-effective technologies to ensure a consistent supply of oil resources. On account of these factors, IMARC Group expects the market to reach a volume of 27,025.3 Tons by 2028.
- Based on the application, the market has been classified into cosmetics, pharmaceutical, industrial, and others. At present, cosmetics represent the largest application segment.
- On the basis of the distribution channel, the market has been segmented into supermarkets and hypermarkets, convenience stores, online stores, and others.
- Region-wise, the market has been divided into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, North America exhibits a clear dominance in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Purcell Jojoba International, Eco Oil Argentina SA, Egyptian Natural Oil Co, Inca Oil SA, The Jojoba Company, and Desert Whale Jojoba Company, Inc.
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