Jojoba Oil Market, By Grade (Winterized Jojoba, and Lite or Bleached Jojoba), By Application (Cosmetics, Pharmaceutical, Industrial, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2034

Jojoba oil is extracted from the seed of the perennial shrub and is widely used in cosmetics and pharmaceutical products. In cosmetics, jojoba oil is used for providing skin protection and prevent aging, resulting in its increased penetration in different cosmetics such as sunscreens, lotions, skin creams, moisturizers, lipsticks, and balms. Jojoba oil has many applications in pharmaceutical industry such as, it is utilized as a carrier for medicinal formulae, antibiotics stabilizer, and appetite depressant. Jojoba oil has various characteristics such as great viscosity index, compatibility with additives, and miscibility in mineral oil base stocks. Due to these characteristics jojoba oil is also used as foam control agent, electric insulator, transformer oil, plasticizer, factice, adhesive, and more. Also, jojoba oil plays major role as lubricant in various high temperature and pressure applications such as hydraulics. Jojoba oil also acts as transformer oil, grading, and cutting oil used in various industries applications. Arizona, California, and Mexico across the globe are the major producers of jojoba oil across the globe.

The major factor driving growth of the jojoba oil market are Increasing demand for jojoba oil in cosmetics, and pharmaceutical industries especially in herbal medicines. In addition, jojoba oil is rich in numerous vitamins and minerals such as vitamin E and B complex, silicon, copper, zinc, chromium, and iodine. This results in adoption of jojoba oil in pharmaceutical products, which in turn aid in growth of the jojoba oil market. Rising preference for organic personal care products among individuals and safety guidelines from regulatory bodies such as EPA and REACH regarding use of jojoba oil are other factors expected to propel growth of the target market over the forecast period. However, lack of awareness of the benefits of the jojoba oil among individuals specially in developing countries is one of the major restraint for growth of the jojoba oil market. In addition, low yield of crop is another factor hampering the growth of the target market. Rising individual preference towards herbal medicines and increasing focus on the manufacture and supply of herbal medicines by vendors in the market is the ongoing trend observed in the target market which will further expected to fuel growth of the target market over the forecast period.

Jojoba oil market is segmented on the basis of grade, application and region. On the basis of grade, the target market is classified into winterized jojoba, and lite or bleached jojoba. Based on application, the global jojoba oil market is divided into cosmetics, pharmaceutical, industrial, and others.

On the basis of region, the jojoba oil market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is accounted for largest market share in terms of revenue and is expected to dominate the target market over the forecast period. This is attributed to the rapidly growing cosmetics, personal care, and pharmaceutical industries especially in the US and Mexico in the region. Asia Pacific is projected to witness significant growth in terms of revenue. This is due to increasing preference towards natural ingredients, rising demand for innovative and organic beauty products in various countries such as India, China, and Japan.

Key players operating in jojoba oil market are Eco Oil Argentina SA, El Baraka For Natural Oils, Desert Whale Jojoba Company, The Jojoba Company, Purcell Jojoba International, Egyptian Natural Oil Co., Inca Oil SA, W. Ulrich GMBH, Earth Expo Company, and Sivkin Butik.