The global jojoba oil market has witnessed a strong growth over the years owing to the increasing applications of jojoba oil in the cosmetics and pharmaceutical industries. This is a result of its diverse functional properties that make it an essential ingredient in skin- and hair-care products.
According to the latest report by IMARC Group, “Jojoba Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the global jojoba oil market reached a volume of 12,000 Tons in 2016, growing at a CAGR of around 12% during 2009-2016. Obtained from the crushed beans of the jojoba shrub, jojoba oil is a type of vegetable oil in the form of liquid wax. It is close to sebum in composition, the naturally produced oil by human skin, hence it nourishes the skin and helps it retain moisture. Jojoba oil also acts as a defense barrier, discouraging the growth of any bacterial or fungal microbes that may be harmful for the skin. Due to these properties, it is extensively being used as a replacement of animal fats in the production of skin creams and lotions.
Highlights of the global jojoba oil market:
- Expanding applications of jojoba oil remain the major growth driving factor.
- The cosmetics industry represents the largest application segment, accounting for the majority of the total share.
- Europe is the largest market for jojoba oil, followed by North America.
The jojoba oil market is currently being stimulated by its widening applications in various sectors. In the cosmetics sector, jojoba oil is primarily used in several skin-care products like anti-acne gel, moisturizer, facial cleanser, scar minimizer, etc.; and hair-care products, such as hair conditioner, de-tangling cream, hair regrowth serum, etc. Apart from this, jojoba oil is a vital component of numerous pharmaceutical products since it possesses a number of vitamins and minerals such as silicon, chromium, copper, iodine and zinc. It also acts as a stabilizer for anti-biotics, as an appetite depressant, and for treating canker sores, cold sores, athlete’s foot and warts. As a result of these factors, the market is expected to reach a volume of more than 22,000 Tons by 2022.
On the basis of key applications, the jojoba oil market has been segmented into cosmetic, pharmaceuticals and industrial sectors. Currently, the cosmetic sector accounts for the majority of total market share. Region-wise, Europe dominates the market followed by North America, Asia Pacific and Latin America. On evaluating the competitive landscape, it is found that the key players operative in the jojoba oil market are Purcell Jojoba International, Eco Oil Argentina SA, Egyptian Natural Oil Co., Inca Oil SA, The Jojoba Company, and Desert Whale Jojoba Company.
Request a free sample copy of the report: http://www.imarcgroup.com/prefeasibility-report-jojoba-oil-processing-plant
Follow us on twitter : @imarcglobal