Jojoba Oil Market

The global Jojoba Oil Market was valued at USD 125.1 Million in 2022 and is projected to reach a value of USD 207.5 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 7.5% between 2023 and 2030.

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Jojoba Oil is a natural liquid wax derived from the seeds of the jojoba plant (Simmondsia Chinensis), which grows in the southwestern United States and northern Mexico. Jojoba Oil is well-known for its moisturizing, soothing, and healing properties, making it a popular ingredient in various industries, including cosmetics, personal care, pharmaceuticals, and food. Jojoba Oil is rich in fatty acids such as oleic acid, erucic acid, and gadoleic acid, and it has a longer shelf life and stability than other vegetable oils.

The global Jojoba Oil market is expected to expand significantly in the coming years, owing to various market drivers such as rising demand for natural and organic ingredients in the cosmetics and personal care industries, rising popularity of clean beauty and wellness, expanding applications in the pharmaceutical and nutraceutical industries, and rising adoption of sustainable agriculture practices. Moreover, the market is expected to face some challenges, such as price volatility due to supply and demand imbalances, a scarcity of high-quality seeds and processing facilities, and stringent regulations and certifications for organic and fair-trade products. Despite market challenges such as supply chain disruptions and regulatory hurdles, key industry players invest in R&D and production facilities to meet rising demand and provide innovative solutions to their customers.

Recent developments in the Jojoba Oil market include introducing new products with novel formulations and packaging, expanding manufacturing and distribution facilities, and collaborations and partnerships among industry leaders. For instance, the Desert Whale Jojoba Company announced in 2022 that it would expand its Jojoba Oil production facility in Arizona, USA, to meet the industry's rising demand for organic and sustainable ingredients. Similarly, Purcell Jojoba International announced the launch of a new line of organic and fair-trade Jojoba Oil products in 2020 in response to the market's growing demand for environmentally friendly and socially responsible ingredients.

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Economic Insights

In recent years, the global Jojoba Oil market has been subjected to several economic shocks, each impacting its growth and stability differently. The current global economic environment, characterized by geopolitical tensions, supply chain disruptions, and COVID-19 uncertainties, can affect Jojoba Oil product demand and supply. Climate change, droughts, and political instability in the main producing regions can impact the Jojoba Oil supply, causing price fluctuations, supply shortages, and quality issues. During economic downturns, consumers may reduce non-essential purchases, such as beauty and personal care products containing Jojoba Oil. This may decrease demand for Jojoba Oil products, particularly in markets that rely heavily on discretionary spending, such as luxury cosmetics or premium skincare. However, the recession may increase demand for low-cost, multi-functional products that provide value and convenience, which may benefit some segments of the Jojoba Oil market, such as mass-market skincare or haircare. The market players must be aware of these economic factors and take strategic action to adjust to the shifting market conditions and satisfy the changing requirements of consumers and businesses.

Top Market Trends

1. Growing Global Demands for Natural and Organic Ingredients: The demand for natural and organic ingredients is rising due to consumers' growing preference for eco-friendly, sustainable, and clean products in the food, cosmetics, and personal care industries. Jojoba Oil's moisturizing, anti-inflammatory, and antioxidant qualities make it a popular natural ingredient in these sectors. The increasing popularity of organic and natural products will propel the Jojoba Oil market in the upcoming years.

2. Increasing Popularity of Clean Beauty and Wellness: The clean beauty and wellness trend is gaining traction as consumers become more aware of the potential health and environmental consequences of synthetic and toxic chemicals in personal care products. Jojoba Oil is a versatile and safe ingredient in a wide range of clean beauty and wellness formulations, including face, hair serums, and massage oils. The growing popularity of clean and wellness-oriented products will open new opportunities for Jojoba Oil suppliers and manufacturers.

3. Rising Applications in Pharmaceutical and Nutraceutical Sectors: Due to its bioactive and therapeutic qualities, Jojoba Oil is increasingly used in the pharmaceutical and nutraceutical industries. Jojoba Oil can be used as an emollient, wound healer, anti-inflammatory, and carrier oil in pharmaceutical and nutraceutical formulations such as topical creams, ointments, and dietary supplements. The growing popularity of natural and plant-based medicine is anticipated to boost the demand for Jojoba Oil in these sectors.

4. Emerging Adoption of Sustainable Agriculture Practices: The jojoba plant is a drought-tolerant and environmentally friendly crop that can grow in arid areas with little water and chemical input. The adoption of Jojoba Oil as a sustainable ingredient in various industries is expected to be driven by the trend towards sustainable agriculture practices such as regenerative farming, organic certification, and fair-trade sourcing. The sustainability and social responsibility trend will differentiate the market for Jojoba Oil suppliers and manufacturers.

Market Segmentation

The global Jojoba Oil market can be categorized on the following: Type, Application, Sales Channel, and Region. Based on Type, the market can be categorized into Cold-Pressed and Refined. Moreover, based on the Application, the market can be further split into Cosmetics & Personal Care, Pharmaceutical, Industrial, and Other Applications. Based on Sales Channels, the market can be divided into B2B and B2C. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Type

Cold-pressed to Lead with the Largest Market Share as it is a Widely Used Method for Jojoba Oil Extractions

The Cold-Pressed segment will dominate the Jojoba Oil market over the forecasted period. Cold-pressed is a type of Jojoba Oil extracted by pressing the jojoba seeds at low temperatures, typically below 49°C (120°F). This process helps to preserve the oil's natural qualities and nutrients, which can be lost or damaged by other extraction methods that use high temperatures, solvents, or chemicals. Cold-pressed Jojoba Oil is one of the most popular types on the global market because it is regarded as a high-quality, pure, and natural product. Cold-pressed Jojoba Oil is frequently preferred by consumers seeking organic, chemical-free, and environmentally friendly skincare and haircare products. It contains vitamins, antioxidants, and essential fatty acids, all of which help to moisturize and nourish the skin, hair, and nails. Cold-pressed Jojoba Oil is also non-comedogenic, which means it does not clog pores or cause acne, making it an excellent ingredient for sensitive or acne-prone skin. The refined type will have the highest CAGR during the forecast period as it is a more versatile and cost-effective option for skincare, haircare, and other cosmetic product manufacturers. Many beauty products contain refined Jojoba Oil as a base ingredient, including moisturizers, lotions, shampoos, conditioners, lip balms, and soaps. Another type of Jojoba Oil is refined, made by filtering, bleaching, and deodorizing the oil to remove any impurities, odor, or color. This refining process produces a more uniform and stable product with a longer shelf life and a lighter texture and color than unrefined or cold-pressed Jojoba Oil.

Based on the Application

Cosmetics & Personal Care Account for the Largest Market Share owing to their Skin-Lightening, Moisturizing, Anti-Inflammatory, and Anti-Tanning Properties

During the forecast period, the cosmetics & personal care application segment will dominate the global Jojoba Oil market due to the growing global demands for demand for naturally and organically sourced products. Using Jojoba Oil-infused hair care products regularly reduce hair fall, add thickness, and improve hair texture and quality. It also aids in treating dry, itchy scalps and split ends. The ingredient is also found in cosmetics such as lipsticks, makeup removers, lip balms, and nail polish. This market segment is expanding as manufacturers increase their focus on using organic ingredients in their products. The pharmaceutical application segment will grow with the fastest-growing CAGR during the forecast period. The active pharmaceutical ingredient (API) is used in topical formulations such as ointments and creams. Products containing Jojoba Oil can help treat irritated, swollen, itchy, or inflamed skin. The product's anti-bacterial properties explain why it effectively treats psoriasis. It also treats hemorrhoids caused by straining during bowel movements, obesity, or pregnancy. The oil is also used as a carrier or coating material in various pharmaceutical preparations, as well as a growth inhibitor for various bacterial agents, including tubercle bacilli, which causes tuberculosis, and as a stabilizer for penicillin products.

Based on Sales Channel

B2B to Account for the Largest Market Share as More Businesses are Recognizing the Benefits of Using Jojoba Oil in Various End Use Industries

The B2B segment will dominate the global Jojoba Oil market throughout the forecast period. In the Jojoba Oil market, the B2B (business-to-business) sales channel segment refers to distributing and selling Jojoba Oil products to other businesses rather than directly to consumers. B2B sales can take many forms, including bulk shipments, wholesale distribution, private label manufacturing, and contract manufacturing for other companies. The B2B sales channel is an important part of the global Jojoba Oil market, providing numerous benefits to Jojoba Oil suppliers and buyers. B2B sales can provide a more stable and consistent source of revenue for suppliers, as they can sell large quantities of Jojoba Oil products to other businesses regularly. This can help to reduce the risks of market fluctuations, seasonality, or consumer trends affecting Jojoba Oil product demand. The B2C sales channel segment will grow at the fastest CAGR during the forecast period. In the Jojoba Oil market, the B2C (business-to-consumer) sales channel segment refers to the distribution and sale of Jojoba Oil products directly to individual consumers via various channels such as online retail, brick-and-mortar stores, direct selling, or subscription services. As more consumers become aware of the benefits of using Jojoba Oil for their health and beauty needs, the B2C sales channel is becoming a significant and growing part of the global Jojoba Oil market. B2C sales can provide numerous advantages to sellers and buyers of Jojoba Oil products. B2C sales can help to drive the growth and innovation of the Jojoba Oil market by opening up new avenues for product development, branding, and customer engagement.

Based on Region

North America to Lead Global Market Revenue Attributed to Regional Growth in End-Use Industries like Cosmetics, Personal Care, and Pharmaceutical

The global Jojoba Oil market is expected to be dominated by the region of North America in terms of growth and revenue. This is due to expansion in various end-use industries such as the region's cosmetics, personal care, and pharmaceuticals. Several major cosmetics markets, including the United States, Canada, and Mexico, are in the region. The Jojoba Oil industry in the United States is expanding and becoming more important due to the inclusion of high-performance ingredients such as omega 3, triterpenoids, and tocopherols. These ingredients promote cell growth and improve the anti-inflammatory and antiseptic properties of the human body. A favorable regulatory environment and technological innovation to improve chemical and microbiology quality are expected to contribute to overall market growth in the United States. According to the US FDA, the product can, for example, restore hair growth, reduce cellulite, promote cell regeneration, and treat varicose veins.

The Asia Pacific region is the world's second-largest market for Jojoba Oil. South Korea, Japan, India, and China are among the major cosmetics and personal care markets in the Asia Pacific. The Korean skincare and cosmetics sector is mature, highly fragmented, and competitive, with brands constantly investing in R&D to develop new products. Due to the importance of beauty in South Korean culture, consumers have very high expectations for and knowledge of cosmetics products. As a result, cosmetics companies are under increasing pressure to create innovative and high-quality products.

Competitive Landscape

The key players in the global Jojoba Oil market include - Purcell Jojoba (U.S.), Inca Oil S (U.S.), Ecooi (India), ConnOils LLC (U.S.), Jojoba Naturals (U.S.), JD Jojoba Desert (U.S.), Hallsta (India), Nutrix International LLC (U.S.), US Organic Group Corp. (U.S.) among others.

Recent Market Developments

· May 2021: Desert Whale Jojoba Company announced a new partnership with TCI Co., Ltd, a leading Japanese manufacturer & distributor of specialty chemicals for the Jojoba Oil market.

· July 2021: Dr. Bronner's, a leading organic and natural skincare brand, has announced a new collaboration with Baja Concept, a Mexican-based manufacturer of organic and sustainable ingredients.

· August 2021: Jojoba Desert, a leading Israeli production company of Jojoba Oil, announced opening an innovation center in the Negev desert as a substantial investment in its R&D activities. Jojoba Desert also announced a new collaboration with Givaudan Active Beauty, a global cosmetic ingredient supplier.

Segmentation of the Global Jojoba Oil Market