Jojoba Oil Market growing at a CAGR of 7.7% from 2023 to 2030

The global jojoba oil market size was estimated at USD 130.8 million in 2022 and is projected to reach USD 236.6 million by 2030, growing at a CAGR of 7.7% from 2023 to 2030. This is attributable to the growing inclusion of the product in cosmetics & personal care formulations.

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Jojoba oil is widely utilized across numerous end-use industries, including cosmetics & personal care, spa & relaxation, and medical as a substitute raw material for conventional products. Jojoba oil is primarily used in several hair care, skin care, eye care, and makeup products owing to its moisturizing, antioxidant, and anti-bacterial properties.

In addition, the oil assists in the treatment of dermatitis, acne, and stretch marks. It can also be used as a body care product to improve the health of hair and nails, thereby increasing its appeal among women and female teenage consumers.

The rising disposable income of consumers and the high population of working women in the U.S. are expected to be major drivers for this industry. Increasing awareness regarding feminine hygiene and health has also promoted the adoption of natural products and cosmetics. Mature markets such as the U.S. and the U.K. have witnessed a significant demand for natural personal care products. Major brands such as Melvita, Annemarie Borlind, JĀSÖN, and Avalon Organics are increasing the content of natural ingredients in their products.

Jojoba oil is a developing market and gaining importance on account of its high-performance ingredients, such as vitamins & nutrients, which include fatty acids such as omega 6 & omega 3, tocopherols, and beta amyrine. They help in accelerating cell growth and strengthen its antiseptic & anti-inflammatory properties. As a result, it is gaining increasing importance in cosmetics & personal care products.

Skin and hair care product manufacturers that use the oil for developing advanced cosmetic solutions generate the maximum product demand. These products are marketed under the premium products category. Furthermore, consumer inclination and readiness to pay a high price for premium products along with the growing preference toward natural and organic products have augmented the demand for jojoba oil in the cosmetic and personal care industries.

Type Insights

The cold-pressed type dominated the market with the highest revenue share of 63.5% in 2022. The growth can be attributed to the high demand for naturally sourced, pure, chemical-free, and high-quality products from various end-use industries including personal care, cosmetics, and pharmaceutical among others. The cold-pressed segment has witnessed an upsurge in demand as compared to refined jojoba oil owing to growing consumer inclination toward chemical-free and naturally sourced products.

Refined jojoba oils initially go through the same process as cold-pressed oils but are further processed using solvent extraction, bleaching, and deodorization to remove impurities, undesirable colors, and scents. These oils are stable owing to their high-temperature processing. They are cheaper and possess a longer shelf life as well as are odor-free than cold-pressed oils.

Owing to the abovementioned properties, refined jojoba oil is preferred over cold-pressed oil for manufacturing, which requires high stability and longer shelf life. This is expected to positively impact the segment growth over the forecast period. However, high-temperature processing results in the reduced nutritional value of jojoba oil, which is expected to pose a threat to its demand.

Jojoba Oil Market Report Scope 

Report Attribute	Details
Market size value in 2023	USD 135.2 million
Revenue forecast in 2030	USD 236.6 million
Growth Rate	CAGR of 7.7% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 – 2021
Forecast period	2023 – 2030
Quantitative units	Revenue in USD million, volume in tons, CAGR from 2023 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, trends
Segments covered	Type, application, sales channel, region
Regional scope	North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
Country scope	U.S.; Canada; Mexico; Germany; U.K.; France; Spain; Italy; China; India; Japan; South Korea; Thailand; Australia; Brazil; Argentina; Saudi Arabia; South Africa
Key companies profiled	Purcell Jojoba; Inca Oil SA, Ecooil; ConnOils LLC; Jojoba Naturals; JD Jojoba Desert; Hallstar; Nutrix International LLC; US Organic Group Corp; OPW Ingredients GmbH
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options