Jojoba Oil Market Size, Share & Trends Report

Jojoba Oil Market Size, Share & Trends Analysis Report By Application (Pharmaceutical, Cosmetics & Personal Care, Industrial), By Region (North America, Asia Pacific, Europe, MEA, Central & South America), And Segment Forecasts, 2019 - 2025

  • Published Date: Jun, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-1-68038-016-3
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 120

Industry Insights

The global jojoba oil market size was estimated at USD 126.1 million in 2018 and is anticipated to expand at CAGR of 8.4% in the forecast period. Rise in demand for use in personal care products, such as shampoos and conditioners, lipsticks, moisturizers, and skin ointments, along with improving consumer lifestyle is expected to drive the market. Moreover, increasing awareness about product benefits is projected to boost the demand, particularly in Asia Pacific region.

Growing demand in hair care products as the oil is a rich source of vitamin B, C, and E and minerals, such as copper and zinc, is also likely to boost market. Rapidly expanding organic personal care sector in emerging economies like China and India is further expected to fuel market growth. Increasing awareness about natural and organic cosmetics & personal care products will also have a positive impact on the product demand.

U.S. Jojoba oil market

However, lack of commercialization and availability of substitutes for the oil may hamper the growth to come extent. Moreover, raw material is produced only in a few regions of Latin America, North America, and some places of Asia Pacific, which is also likely to hinder market expansion. On the other hand, increasing demand for naturally-derived personal care products across the globe has propelled the product commercialization, thereby boosting market development.

North America held the largest market share in the previous years and is expected to maintain its leading position in future as well due to positive outlook from the cosmetics industry and improving production techniques. Mexico, in particular, is expected to offer lucrative growth opportunities as the country has suitable climate and weather for the growth of Jojoba plants.

Application Insights

Cosmetics & personal care was the leading application segment in 2018 and is predicted to expand further at the highest CAGR of 6.9% from 2019 to 2025 due to increasing product usage in skin and hair care products. Pharmaceutical is expected to be the second fastest-growing application segment over the forecast period due to rising product demand. Industrial segment also witnessed a rapid growth and is expected to expand at a healthy CAGR in the near future owing to increasing product usage as a bio-fuel and lubricant as it creates lesser pollutants. The product also has applications in insulation of electrical wires, pill coatings and batteries, and candle waxes. Ability of the oil to be mixed with mineral base stocks and high compatibility has resulted in its wide usage as a transformer oil and in electric insulation. Pharmaceutical is expected to be the second-largest application as the product holds medicinal properties, which can cure burns, wounds, and sore throat.

Regional Insights

North America led the market in 2018 and is projected to expand further at a CAGR of 7.09% from 2019 to 2025 due to potential demand from the cosmetics & personal care industry. Increasing emphasis on R&D for organic personal care products is also likely to contribute to the region’s growth. Presence of a large number of key manufacturers, such as Desert Whale Jojoba Company and Purcell Jojoba International in the region is driving the market further.

Global jojoba oil market

In addition, U.S is witnessing rapid growth, in terms of product consumption and production, which is supporting the market in North America. Europe also witnessed a healthy growth in the past and is projected expand further due to the presence of numerous multinational companies. Moreover, growing importance for organically safe products is fueling the product demand in Europe. However, the market is expected to face intense competition in the region owing to huge capital investments in R&D projects for the development of non-toxic and natural products.

Jojoba Oil Market Share Insights

The market is oligopolistic in nature and therefore, it is highly competitive as slight changes in the supply can have a major impact on the overall market. The product has witnessed a rise in demand over the past few years, which has made key companies to increase their production capacities. Some of the prominent companies include Jojoba Desert,The Jojoba Company, and Eco Oil Argentina SA. Most of the customers of these companies are from the cosmetics sector and their major export countries are U.S., Germany, Japan and a few other countries in Asia Pacific. In 2010, Jojoba Desert initiated a 10-year Growth Plan that aimed to double the production volumes in six years and further aims to achieve the leasing position in the global market.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, China, India, Japan, Thailand, Australia, Brazil, and Argentina

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global jojoba oil market report on the basis of application and region:

  • Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

    • Cosmetics & Personal care

    • Pharmaceutical

    • Industrial

    • Others

  • Region Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Thailand

      • Australia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

Key questions answered by the report
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