You have heard about many skincare oils, such as coconut oil, almond oil, and more. But did you know there is another remarkable category called jojoba oil? If not, get ready to discover it now! In this blog, we will discover many interesting things about jojoba oil and its numerous benefits for your skin, hair, and overall well-being. We will also unveil the key factors driving jojoba oil market growth.
Understanding Wonders of Jojoba Oil
Jojoba is produced in the seed of the Simmondsia chinensis plant, a shrub that grows in dry regions of northern Mexico and the southwestern US. The oil is obtained through a cold-pressing process which helps retain the rich nutritional value of the oil. Jojoba is directly applied to the skin to treat sunburn, chapped skin, psoriasis, acne, and psoriasis. The oil has gained the attention of beauty enthusiasts worldwide due to its silky texture, golden hue, and a number of benefits. Just like other skin care oil, jojoba oil includes plenty of vitamins, anti-inflammatory properties, and antioxidants.
Key Factors Driving the Market Growth
The global jojoba oil market was valued at USD 131.33 million in 2022 and is expected to achieve USD 270.81 million at a healthy CAGR of 7.5% during the forecast period.
The market is expected to grow significantly in the future due to its growing use in various industries, including medical, cosmetics and personal care, and spa and relaxation. The rising preference for natural and organic products fuels the jojoba oil market growth.
With the increasing incorporation of jojoba oil into various products, such as facial cleansers, conditioners, hair regrowth serums, and anti-acne gels, the market is growing. Further, the jojoba oil is also used in many pharmaceutical products due to its vitamins and minerals-rich properties. These products are used to treat a variety of medical ailments, such as athlete’s foot, ulcers, cuts, bruises, burns, and warts.
Applications:
Jojoba oil is a versatile and widely used oil across various industries. Some of the industries where jojoba oil is commonly used include:
- Cosmetics and skincare
- Personal care products
- Haircare
- Pharmaceuticals
- Industrial applications
- Industrial coatings
- Food and beverage
- Animal care
- Candle making
By Application, cosmetics, and personal care segment accounted for significant growth
The cosmetics and personal care market witnessed tremendous growth due to its ability to moisturize skin, reduce inflammation, and delay the effects of aging. With its moisturizing qualities, it’s a great option for conditioning hair, and its anti-inflammatory benefits may calm an irritated scalp and lessen dandruff. In addition, jojoba oil is a wonderful ingredient in many beauty products due to its adaptability and several advantages.
Benefits of Jojoba Oil
- Moisturizing
- Anti-inflammatory properties
- Antioxidant-rich
- Long shelf life
- Eco-friendly
- Non-allergenic
- Scalp health
- Anti-microbial properties
Why North America Witnessed the Largest Jojoba Oil Market Share in 2022
The regional growth can be attributed to the rising demand from end-use sectors like the pharmaceutical, cosmetic, and personal care industries. The addition of high-performance components, including omega 3, triterpenoids, and tocopherols is fueling the industry growth in North America. In addition, the oil boosts cell growth and enhances the anti-inflammatory and antiseptic ability of the human body, which further boosts the jojoba oil market expansion.
Recent Developments
- In 2021, Desert Whale Jojoba Company, a leading supplier of jojoba oil, will expand its operations to meet the increasing demands of its growing customer base. The company has recently acquired a new production facility in Arizona, further enhancing its capacity to deliver top-quality jojoba oil to its clients.
- In 2020, the Skincare brand Biossance incorporated jojoba oil into its product range and has innovated a new process to produce synthetic squalene from sugarcane. This advancement reduces the reliance on animal products, promoting sustainability in the skincare industry.