Jojoba Oil Market Size, Share & Trends Analysis Report By Type (Cold Pressed, Refined), By Application (Cosmetics & Personal Care, Pharmaceutical, Industrial), By Sales Channel (B2B, B2C), And Segment Forecasts, 2020 - 2027
New York, Sept. 09, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Jojoba Oil Market Size, Share & Trends Analysis Report By Type, By Application, By Sales Channel And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05965072/?utm_source=GNW
Jojoba Oil Market Growth & Trends
The global jojoba oil market size is expected to reach USD 253.7 million by 2027., expanding at a CAGR of 8.4% over the forecast period. Growing consumer inclination towards chemical-free, natural, and organic products is anticipated to fuel market growth.
Cold-pressed and refined are two major types that are commercially sold on a large scale.However, most manufacturers are inclined towards marketing jojoba oil developed using the cold-pressed technique as it doesn’t involve heat and hazardous chemicals.
The absence of heat helps retain the original nutritive value of the product, thus making it popular among the consumers.
The major demand for jojoba oil is observed from the personal care and cosmetics industry owing to its antioxidant, anti-inflammatory, and anti-bacterial properties. The product is primarily used as an emollient in many skincare and cosmetic formulations, such as shampoo, conditioners, lip balms, and face creams.
Jojoba oil is highly-priced in the cosmetics and personal care industry owing to which it faces a possible threat of substitution. Other oils such as argan, olive, rosehip, castor, and wheat germ, which possess similar properties as that of jojoba oil, can be used as its substitute.
Argan oil, compared to jojoba, is sold at a relatively lower price, making it popular and preferable for personal care and cosmetics manufacturers. The above-mentioned factors are expected to restrain market growth.
Purcell Jojoba, JD Jojoba Desert, Jojoba Naturals, Ecooil, and Inca Oil S.A. are some of the major players involved in jojoba oil production. These players are backward integrated and have their farms where they cultivate and harvest jojoba seeds, which are further processed in their manufacturing facilities to obtain jojoba oil.
Research institutions, key players, and organizations undertake several research & development activities to explore new and potential applications of jojoba oil.For instance, jojoba oil meal can be used as animal food by detoxifying the contaminants.
Jojoba oil is being investigated for use in nutritional supplement formations and may have the potential to be used as an edible low-calorie oil for athletes and dieters. This is expected to positively influence market growth over the forecast period.
Jojoba Oil Market Report Highlights
• A significant number of product launches from the end-user side of the market i.e., personal care and cosmetics and food and beverage, is driving the market towards product diversification and the expansion of the jojoba oil application area
• In order to maximize product sales and increase their penetration into the consumer market, a significant number of players are selling jojoba oil through their own online retail stores and have developed into specialty retailers
• Favorable technological advancements significantly contribute to the overall product demand by continuously enhancing the chemical and microbiological qualities of jojoba oil.
Read the full report: https://www.reportlinker.com/p05965072/?utm_source=GNW
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