Body Oil Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented by Type (Wet Oil, Dry Oil), By Distribution Channel (Online, Supermarkets/Hypermarkets, Others), By Region, By Competition, 2019-2029

Market Overview

Global Body Oil was valued at USD 3.01 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 4.63% through 2029. This growth is driven by many factors, including increasing the awareness of moisturizing, nourishing the skin, hydration, and aroma therapy. Raising awareness of the significance of skincare and the growing demand for body oil. The rise of e-commerce has transformed the distribution channel, providing customers with a different range of products in body oil. Hence, the customer has a wide range of products to choose from with different price availability as per their requirements.

Body oil is a type of product mainly designed for application on the skin. It consists of coconut oil, jojoba oil, and almond oil and contains additional ingredients like vitamins, and antioxidants. In addition, some formulations provide anti-ageing properties, etc. It comes in different types and packaging shapes to serve different preferences and skin care needs.

Key Market Drivers

Growing Consumer Awareness

The body oil industry has witnessed a wider shift with consumers becoming aware of the benefits of skincare products n including body oil. The awareness campaign through the digital platform, and endorsement through the social media influencer. Influencers played a major role in creating awareness of skin care and positively impacted people. As the individual becomes more knowledgeable about body oil, the demand for body oil becomes the daily skincare routine.

Natural and Organic Trend

The market for body oil has been steadily expanding recently, and it is anticipated that this trend will continue in the years to come. This growth is driven by expanding disposable income, growing awareness of skincare, and growing preference for natural and organic beauty products. In addition, the growing popularity of self-care practices and the goal of having skin that appears radiant and healthy have increased the demand for body oil.

Emphasis on wellbeing

It has been seen that there is a shift in culture towards well-being and self-care. Body oil is a ritualistic practice contributing to mental and emotional well-being and for instance, relieving dry, scaly skin caused by changing weather, too-hot showers, and harsh cleansers. A good body oil works to hydrate the skin and lock in moisture. Contrary to what you might expect, oil is absorbed quickly without leaving a greasy residue.

Hydration and anti-ageing focus

The wellness industry focuses on skin hydration and anti-ageing benefits. These oil provide deep moisture to the skin which is ever lasting. Various formulations of natural ingredients of Vitamin A have proven efficacy in boosting collagen production and improving skin elasticity. Vitamin E, chamomile, lavender, and sunflower oil have anti-inflammatory properties that relieve irritation. The vitamins also work in tandem to improve the skin’s thickness and add moisture content to it. In addition, the mineral oil infused in the formula has anti-ageing benefits and moisturizes the facial skin.                                         

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Key Market Challenges

Differential

Standing out from numerous competitors becomes challenging. Brands have the pressure to make the best products, at the best-selling price through innovative formulation, and distinct market strategy.

Brand Loyalty

With many choices available to the customer, building, and maintaining brand loyalty. Encouraging repeated customers to make purchases and fostering a loyal customer base is a basic requirement, as consistent quality, effective and efficient marketing, and a positive impact on brand image.

Price Wars

With the increasing competition that leads to price wars, where brands may engage in aggressive piece strategies that attract customers, this benefits consumers and impacts the profit margins and sustains market players.

Economic factors

The economic fluctuations and uncertainties in disposable income can have a huge impact on consumer spending on nonessential products i.e. premium body oil, economic factors can reduce the purchasing power of the consumers. With the rise in inflation, the price of the product may hit high if the consumer income doesn’t rise with inflations which leads to a fall in the purchasing power of the consumer.

Retail Shelf Space

In the retail store, there is limited shelf space for the brands that want to secure prominent space. There is tough competition for visibility and brands must vie for strategic positions in the consumer's eyes. The online platform offers more space but there is tough competition for visibility in the digital space.

Supply Chain Disruptions

Market of body oil for instance many industries are susceptible to supply chain disruptions. Events such as natural disasters, pandemics, and geopolitical issues can impact the source, production, and distribution of the raw material.

Marketing Noise

The sheer volume of marketing from various brands created “noise” and made it difficult for a single brand to make space in the market and effectively communicate its value proposition to consumers. Cutting through this noise requires impactful and strategic market campaigns.

Market Saturation

The market has become saturated with body oil due to similar product availability which makes it challenging for the consumer to discern the differences between brands. This saturation may lead to commoditization as products are perceived as interchangeable and consumer decisions become more focused on price rather than unique product features and benefits.

Key Market Trends

Sustainable and Clean Beauty

The consumption of body oil has been increasing with sustainable and clean formulations. Brands are responding by incorporating eco-friendly packages with responsible sourced ingredients and transparency.

Personalization and Customization

Brands have started to offer customized oil formulations allowing the consumer to tailor their products as per their requirements. The customer can include vitamin A, vitamin E, chamomile oil, lavender oil, and sunflower oil in their product as per their requirements and suitability.

Social Media and Digital Influence

Brands are expanding their products to serve a wide range of products as per skin types. Brands are creating awareness of skin types such as normal, oily, dry/dehydrated, combination, acne-prone, sensitive, and mature. Skincare and beauty influencers had a significant effect on audience product buying choices. The study looks at how consumers' purchasing decisions for skin care products are influenced by social media influencers. Due to the leverage of social media influence, the audience gathered around the brand fostering a sense of belonging and encouraging them to buy the right product for their requirement.

E-commerce dominance

The online platforms offer their customers a wide range of products and a convenient shopping experience. E-commerce created the growth for skin care products, the popularity of influencer suggestions, increasing skincare routine recommendations by specialists, and the potential of skincare brands. E-commerce made it possible to avail products on their models i.e. B2B and B2C.

Inclusive Beauty

There is a significant growth in the use of body oil products. Brands are expanding their product range to cater to a diverse range of skin tones and types, ensuring they are offering inclusive products to their customers.

Rise of niche and indie brands

Niche and indie brands are gaining a stake in the body oil market. These brands often focus on unique formulation, and ethical practices, providing consumers with alternatives to mass-market products.

Wellness integration

Body oil is increasing at a pace with positioned as a wellness product, promoting relaxation and stress relief. Aromatherapy blends and formulations designed to enhance mental well-being align with broader trends of holistic wellness.

Technology Integration

Technology has been incorporated into skincare with innovations like smart sensors and apps that assess skin conditions and recommendations for personalized body oil products. The Global Cosmetic Industry has marked AI as the biggest emerging technology in the beauty industry. With innovative methods being developed for consumers, R&D, and cosmetic testing that utilize AI, there is significant potential being uncovered daily for skin care technology—algorithmic processes, machine learning, and artificial intelligence to provide more customer-centric experiences.

Segmental Insight

Type Insights

Based on the type, the Body Oil Market is segmented into wet oil and dry oil. The wet oil segment accounted for a significant market share, and it is estimated that it will grow rapidly during the projected timeframe due to various factors such as increasing awareness of skin care, benefits on the skin, moisturizing, protective, and antibacterial qualities.

They have essential ingredients such as vitamins, fatty acids, antioxidants, and polyphenols, among others. They include avocado, sesame, safflower, camellia, grapeseed, and rosehip oil, or combinations of these oil.  They are used as a substitute for body lotions and have several benefits, such as maximizing the amount of moisture content and cleansing and exfoliating the skin 

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Regional Insight

Based on regional analysis, the Asia Pacific market accounted for the largest revenue share in 2022. Changing consumer preference for using natural products and adoption of greenways for improving mental health are expected to increase revenue growth in this region. The emergence of small businesses and startups is driving market revenue growth. The market for body oil has been steadily expanding recently, and it is anticipated that this trend will continue in the years to come. This growth is driven by expanding disposable income, growing awareness of skincare, and growing preference for natural and organic beauty products. In addition, the growing popularity of self-care practices and the goal of having skin that appears radiant and healthy have increased the demand for body oil. According to regional data, the markets for body oil are expanding significantly in North America, Europe, and Asia Pacific. The rising popularity of beauty and wellness trends, the need for natural and organic skincare products, and the existence of major market players in these areas are all factors contributing to this expansion. All things considered, the market for body oil is anticipated to keep expanding due to variables like growing consumer awareness, rising disposable income, and the desire for natural and organic skincare products, collaborating with dermatologists and skin care experts to endorse and promote body oil products, investing in research and development to discover new and unique ingredients for body oil formulation, more over increasing beauty consciousness.

Recent Developments

In 2023 Unilever Industry came with the product Vaseline with new range in the body oil segment that is friendly and budget-friendly which fits the consumer disposable income. Vaseline's popularity on social media has undoubtedly increased brand awareness among a new audience. In the US, many dermatologists also advise using Vaseline products. Experts agree that it is effective. However, Vaseline continues to be the brand's most recognizable offering. Vaseline in the body oil segment has with wide range. New products of its body oil segment with a scientific approach, incorporating the best of science and beauty benefits to effectively address specific skin concerns in the melanin-rich community.

Key Market Players

• P&G
• Avon
• L'Occitane
• Clarins
• Unilever 
• Aveda
• Neutrogena
• Suki
• Desert Essence
• E.T. Browne Drug

Report Scope

In this report, Global Body Oil has been segmented into the following categories, in addition to the industry trends which have also been detailed below.

• Global Body Oil Market, By Type

o   Wet Oil

o   Dry Oil

• Global Body Oil Market, By Distribution Channel

o   Online

o   Supermarket/Hypermarket

o   Others

• Global Body Oil Market, By Region

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  Japan

§  India

§  Indonesia

§  China

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East and Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles Detailed analysis of the major companies present in Global Body Oil.

Available Customizations

Global Body Oil report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

Detailed analysis and profiling of additional market players (up to five).

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