Advancement in Technology Promotes Jojoba Oil Derivatives…
Posted by Mrudula Anil Karmarkar on April 20th, 2022
The global jojoba oil derivatives market size is anticipated to reach USD 49.05 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.1% from 2020 to 2027. Jojoba oil derivatives are extensively used in personal care and cosmetic products, pharmaceutical preparations, and as additives in lubricants. High demand is observed from the manufacturers of skincare and hair care products that use these derivatives as specialty ingredients for developing advanced cosmetic solutions. These products are placed under the premium products category owing to the higher price of chemicals used, but they also give visible results in formulations. Furthermore, consumer inclination and readiness to pay a high price for premium products, along with the growing preference for natural and organic products, have augmented the product demand in the personal care and cosmetics industry.
Jojoba oil derivatives have a respectable history of safe and long-term use in the personal care and cosmetics, food and beverages, and pharmaceutical sectors owing to their low toxicity profiles. However, these derivatives are facing a high threat of substitutes from both natural and synthetic ingredients, which possess similar structure, properties, and scope of application. Candelilla wax, beeswax, carnauba wax, and vegetable oils are observed to be natural substitutes. On the other hand, petroleum-based waxes, including paraffin, are also a major alternative to these derivatives. Apart from the external substitutes, synthetic wax can act as an internal substitute for natural wax.
Industry participants are trying to expand their operations to tap the existing opportunities in emerging regions or countries in order to acquire a greater market share and gain a competitive edge. Companies are strengthening their product portfolios to expand their consumer base by focusing on product innovation and improving and modifying currently listed products. The growing popularity of these derivatives has also fostered research & development activities and given rise to several startups globally. Several new players have emerged in the market owing to the growing popularity of the product among cosmetics manufacturers.
The growing inclusion of jojoba oil derivatives, especially esters and wax, in skincare and hair care products is estimated to generate demand from developed economies with robust cosmetics manufacturing bases, including the U.S., France, Italy, and the U.K. The personal care and cosmetics industry is preferring plant-sourced and renewable alternatives to paraffin waxes, petrolatum, and mineral oils. Jojoba oil derivatives have been identified as natural products meeting these criteria and fulfilling demand from a large customer base in the industry.
To Request Sample Copy of this report, click the link:
Jojoba esters accounted for the largest revenue share of more than 40.0% in 2020 and are anticipated to maintain their lead over the forecast period. These derivatives possess no trans isomers and are also utilized as elements of extremely pigmented cosmetic systems, wherein they enable uniform pigmentation, surface wetting, and pigment dispersion on application to the skin. Jojoba esters are widely utilized in the formulation of personal care and cosmetic products as they contribute to the moisturizing effect of several cosmetic formulas, which can otherwise be usually “drying” once used on the skin.
Jojoba Oil Derivatives Market Report Highlights
The manufacturers of jojoba oil derivatives are inclined toward backward integration by harvesting seeds in their own farms, extracting oil, and further producing derivatives. The prices of raw material are volatile due to the irregular availability of seeds and adverse climatic conditions. However, the manufacturers, who are integrated backward, have a competitive edge in terms of pricing, and lower overall operational costs.
Key manufacturers in the market are also focused on expanding their geographical presence, technological optimization, and new product development. For instance, Vantage Specialty Chemicals has enlarged its product portfolio and it offers application-specific products. The company offers jojoba esters in several forms, such as esters 15, 20, 30, 60, and 70, which are suitable for different applications. Some prominent players in the global jojoba oil derivatives market include:
Like it? Share it!
About the AuthorMrudula Anil Karmarkar
Joined: July 2nd, 2020
Articles Posted: 975
More by this author