- Ongoing trend observed in the market is rising individual preference towards herbal medicines and increasing focus on the manufacture and supply of herbal medicines by vendors in the market.
- The market in Asia Pacific is projected to have largest CAGR in terms of revenue.
Jojoba oil is extracted from seeds of an American shrub which are widely used in cosmetic products. Jojoba oil provides skin protection and prevents aging, resulting in increased adoption of jojoba oil in various cosmetic products such as body lotions, sunscreens, moisturizers, skin cares, lipsticks, and balms. Jojoba oil offers fatty acid and high nutrient properties to end products. Jojoba oil is majorly produced in Arizona, California, and Mexico across the globe.
The Jojoba Oil market will grow with a significant CAGR between 2019 to 2028. Increasing demand for jojoba oil in cosmetics, and pharmaceutical industries especially in herbal medicines are major factors expected to drive growth of the global market over the forecast period. In addition, presence of numerous vitamins and minerals such as vitamin E and B complex, silicon, copper, zinc, chromium, and iodine in jojoba oil results in increased adoption of jojoba oil as a key ingredient in many pharmaceuticals products, which is another factor expected to fuel growth of the target market.
Distinct Segments of Global Jojoba Oil Market:
Segmentation by grade: Winterised jojoba, Lite or bleached jojoba, Segmentation by application: Cosmetics, Pharmaceuticals, Industrial, Others
Major leaders of the world Jojoba Oil market are:
Desert Whale Jojoba Company Inc, Eco Oil Argentina SA, Purcell Jojoba International, Egyptian Natural Oil Co., The Jojoba Company Australia Inc, ULRICH GmbH, Earth Expo Company, El Baraka For Natural Oils, Mosselman S.A, LaRonna Jojoba Company.
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The market in North America dominates the global market in terms of revenue and is expected to continue its dominance over the forecast period, owing to rapidly growing cosmetics, personal care, and pharmaceutical industries especially in the US and Mexico in the region. The market in Asia Pacific is projected to have largest CAGR in terms of revenue, owing to increasing preference towards natural ingredients, rising demand for innovative and organic beauty products in various countries such as India, China, and Japan.