The increasing consumer preference towards natural skincare solutions, rising trend of customization, and the efficacy of botanical oils in makeup removal are expected to drive the global botanical cleansing oil market's growth during the forecast period. The Asia-Pacific region is projected to witness prominent growth by 2032.
PORTLAND, Ore., March 27, 2024 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Botanical Cleansing Oil Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Application: Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global botanical cleansing oil market was valued at $1.6 billion in 2022, and is projected to reach $4.3 billion by 2032, growing at a CAGR of 10.4% from 2023 to 2032.
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Prime Determinants of Growth
The growing preference of consumers for natural skincare solutions, the efficacy of botanical oils in makeup removal, and the increasing consciousness among people regarding health & wellness are the factors expected to drive the growth of the global botanical cleansing oil market in the forecast period from 2023 to 2032. However, the high production costs and a shorter shelf life of botanical oil compared to synthetic alternatives may hamper the market growth in the coming future. On the contrary, the expansion of e-commerce platforms and the rising trend of customization are expected to offer remunerative opportunities for the expansion of the botanical cleansing oil market during the forecast period.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $1.6 billion |
Market Size in 2032 | $4.3 billion |
CAGR | 10.4 % |
No. of Pages in Report | 290 |
Segments covered | Type, Application, and Region |
Drivers | Increasing consumer preference towards natural skincare solutions Efficacy of botanical oils in makeup removal Growing health & wellness consciousness |
Opportunities | The growing trend of customization Continuous product innovation |
Restraints | High production costs and a shorter shelf life |
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Type: Mixed Skin Sub-segment Dominated in 2022
The mixed skin sub-segment accounted for the largest global botanical cleansing oil market share of 37.0% in 2022 and is expected to witness significant growth during the forecast period. This is mainly owing to the shift in consumer preferences towards natural and botanical skincare products. Besides, the increasing awareness of skincare as an essential component of overall health and well-being is expected to drive the sub-segment's growth in the coming years. Moreover, the rise of e-commerce platforms and strategic digital marketing initiatives enhances market accessibility, enabling consumers to conveniently explore and purchase tailored skincare solutions, further propelling growth within the sub-segment.
Application: Online Sub-segment to Flourish Immensely During the Forecast Period
The online sub-segment accounted for the largest global botanical cleansing oil market share of 56.9% in 2022 and is expected to hold its dominant position during the forecast period. One of the primary reasons for this dominance is the increasing reliance on digital platforms for beauty product purchases reshapes consumer preferences and shopping habits. In addition, brands strategically capitalizing on online retail channels experience increased market traction, leveraging the convenience and accessibility of online shopping coupled with targeted digital marketing efforts to reach a wider audience. With e-commerce continuing to expand, the online sub-segment is poised to play a pivotal role in driving the success of the botanical cleansing oil market.
Region: Asia-Pacific Market to Hold Major Market Share by 2032
The botanical cleansing oil market in the Asia-Pacific region accounted for the largest share of 42.2% in 2022 and is predicted to continue to hold major market share by 2032. This growth is mainly owing to the increased consumer awareness of natural skincare and the growing preference for botanical ingredients & effective yet gentle cleansing solutions. In addition, the region's growing beauty & wellness industry, along with a discerning consumer base, fuel demand for high-quality botanical cleansing oils. Moreover, innovative formulations and the rise of e-commerce platforms enhance accessibility are contributing to sustained growth in the Asia-Pacific market.
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Leading Players in the Botanical Cleansing Oil Market:
- Activist Skincare
- Colgate-Palmolive Company
- Clorox Company
- Johnson and Johnson
- Kao Corporation
- Church and Dwight Co.
- The Procter and Gamble Company
- Brenntag
- L'Oreal
- Unilever
The report provides a detailed analysis of the key players of the global botanical cleansing oil market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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