The global skincare oil market is poised for significant growth, projected to expand at a compound annual growth rate (CAGR) of 6.3%, from a market value of USD 19.91 billion in 2024 to USD 34.56 billion by 2034. This growth reflects increasing consumer demand for skincare oils, particularly those formulated with natural and organic ingredients, aimed at addressing concerns like aging skin, acne scars, and uneven skin tone.
In 2023, the market was valued at USD 18.83 billion, marking a steady expansion driven by innovations in skincare oils. The rising popularity of face oils, especially those with anti-aging and skin-healing properties, is playing a central role in this growth, as consumers increasingly prioritize natural, non-comedogenic products to improve skin health without compromising on quality.
Key Trends Driving Market Growth
- Rising Demand for Face Oils: Consumers are increasingly turning to face oils for their ability to soften wrinkles and fade acne scars, fuelling the market’s demand. These oils, often rich in essential fatty acids and antioxidants, offer deep hydration and skin repair.
- Shift Towards Natural and Organic Ingredients: The growing consciousness around the harmful effects of synthetic chemicals in skincare products has led to a surge in demand for organic and plant-based oils, such as argan oil, jojoba oil, and rosehip oil.
- Increasing Awareness of Skin Health: With rising concerns over environmental stressors and aging, consumers are becoming more mindful of their skincare routines, creating a surge in demand for oils that promise long-term skin health and hydration.
Product Categories
- Essential Skincare Oils: Essential oils, including lavender, tea tree, and rose, continue to dominate the market, expected to grow at a CAGR of 7.3% during the forecast period.
- Moisturizing Oils: Moisturizing skincare oils are highly favored by consumers for their deep hydration properties, accounting for 28.9% of the market share in 2024.
- Distribution Channels: Supermarkets and hypermarkets remain the primary sales channel, with a projected CAGR of 8.0%, offering customers the opportunity to physically assess product quality before purchase.
Regional Insights
- United Kingdom: The skincare oil market in the UK is expected to grow at a CAGR of 5.5%, driven by rising awareness of natural beauty products and the influence of social media on skincare routines.
- Germany: In Germany, the market for skincare oils is projected to grow at a 5.9% CAGR, fueled by increasing consumer preference for natural, organic skincare solutions.
- China: China’s skincare oil market is set to grow at 7.8%, supported by a younger, beauty-conscious population and a strong demand for organic beauty products.
- Japan: The skincare oil market in Japan is expected to expand at a CAGR of 5.1%, driven by rising interest in skincare oils, especially among women seeking anti-aging solutions.
- France: The French skincare oil market is forecast to grow at a slower pace of 3.0%, but still reflects a steady trend toward natural and effective skincare options.
Competitive Landscape
To strengthen their position in the industry, leading skincare oil brands are focusing on increasing their market share and product availability. Major players like Shiseido and Blueskys employ strategic approaches such as collaborations and expansions to enhance the supply of skincare oils.
Recent Development
- In April 2022, Shiseido announced the opening of Ulé, a new mindful luxury skincare brand, in France. Eight products will be available for purchase on the brand’s e-commerce site and in a Parisian brand boutique as part of the initial launch on May 2, 2022.
- In December 2021, BlueSkys Beauty, a science-based, luxury-clean, and plant-powered wellness line, was introduced in the United States. BlueSkys Beauty is a brand extension of BlueSkys Life. The Deep Tissue Moisturizer, Facial Oil Elixir, and Facial Serum are all part of the BlueSkys Beauty skincare line (Queen of Creams).
Key Companies Profiled
Shiseido
Procter & Gamble Co.
Burberry Group Plc.
Unilever
L’Oréal
Beiersdorf AG
Avon Products, Inc.
Estée Lauder Companies
Amway
Chanel S.A
Johnson & Johnson
Chatters Canada
Kao Corporation
Henkel
Edgewell Personal Care
Markwins Beauty Products
Get Connected with Our Expert Analyst on Email: sales@futuremarketinsights.com
Key Market Segments Covered in Skincare Oil Industry Research
By Product:
- Essential oil
- Natural oil
By Function:
- Moisturizer
- Soothing
- Antioxidant effect
- Anti-inflammatory Effect
- Others
By Distribution channel:
- Supermarkets & Hypermarkets
- Pharmacies & drug stores
- Specialty Stores
- Online
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
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