Body Oils Market By Product Type (Wet Oils, Dry Oils), By istribution Channel (Online Channel, Supermarkets, Hypermarkets, Specialty Stores, Others), By End-Use Application (Personal Use, Spa And Wellness Centers, Medical Therapeutics) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

The body oil market is projected to grow at a CAGR of 4.2% during the forecast period from 2018 to 2026. In 2017, Asia Pacific held the leading market share in terms of revenue. Body oils function as an emollient and an occlusive, thus preventing cell cohesion and transepidermal water loss. It has essential ingredients such as vitamins, fatty acids, antioxidants, and polyphenols, among others.

There is a continuous demand for beauty care products among consumers across the globe. Within the cosmetics industry, skincare dominated the market. Awareness about having healthy skin is driving the demand for different types of body oil. Body oils are important substitutes for body lotions that are applied to the skin and have several benefits, such as maximizing the amount of moisture content and cleansing and exfoliating the skin.

In addition to this, body oils are beneficial for muscle pain, which is prevalent at different ages. Modern medicines prescribed often result in side effects such as stomach irritation and drowsiness, among others. Treatment of muscle pain with essential body oils acts as an alternative medicine and provides relief, relaxation, and improved blood circulation.

The increasing number of spas and wellness centers across the globe is a major factor driving the demand for the global body oil market. People's rising wages create competing pulls in their decisions about work and leisure. However, hectic schedules demand relaxation, and there is an increasing trend among consumers to visit spas and wellness centers. Additionally, preferences for organic products are another factor boosting the demand for body oils.

Consumers seek natural ingredients instead of artificial ones, thus influencing manufacturers to focus on product innovation and new product launches. In 2018, Just Herbs launched virgin coconut oil, which is 100% natural, and the product has natural antifungal, antibacterial, and antiviral compounds that protect the skin from skin infections.

However, the high cost of producing body oils is a significant market restraint. Processes such as the cold pressing of oils are expensive as they are processed without chemical extraction, thus maintaining high nutritional value.

Market Snapshot: Global Body Oils Market Value

In 2017, wet oils accounted for the majority of the body oil market.

In 2017, the wet oils segment accounted for the largest in terms of value share with over 30% and was expected to maintain its dominance during the forecast period, although the market share for the products is expected to decline on account of an increased shift towards the usage of dry oils. Wet oils are widely available in various retail chains, resulting in high purchases of wet oils.

Under the "wet oils" segment, almond and coconut oils are widely used by consumers across the globe. Almond oils have hypoallergenic properties that are beneficial for sensitive skin. In addition to this, the oil is rich in vitamin E and combats harmful ultraviolet rays and stress from hectic work schedules. On the other hand, coconut oil has natural antibacterial and antifungal properties and acts as a moisturizer for the skin.

Dry oils were identified as the fastest-growing segment during the forecast period. These oils are easily absorbed by the skin and are high in polyunsaturated acids.

Easy accessibility and availability across all distribution channels Trigger Overall Market Growth.

Hypermarkets and supermarkets captured the largest market share by distribution channel in 2017, followed by specialty stores and the online channel. Efficient advertisement, point-of-sale displays, and a wide array of products propel the impulse to buy among customers. In developing economies, manufacturers of body oil are focusing on selling products through supermarkets and hypermarkets in order to grab a larger number of customers, which is expected to trigger the growth of this segment during the forecast period.

Online channels are expected to witness the fastest growth during the forecast period. E-commerce platforms enable customers to explore the best products while at home without visiting the shop physically to buy the same products. Therefore, the convenience factor of consumers is expected to increase the growth of the online channel segment during the forecast period. Recent trends show that the companies are focusing on the expansion of the e-commerce platforms as part of their strategy in order to increase the revenue of body oil products as it reduces the maintenance cost of the stores.

An increasing number of spas and wellness centers across the globe are needed to propel the growth of body oils.

Spa and wellness centers captured the largest market share by end-use application in 2017, followed by personal use and medical therapeutics. Rise in services such as body massages, triggering the demand for body oils among consumers. With rising consumer demand and their discretionary spending on personalized services, spas are focusing on strengthening their brand positioning in order to support premium prices.

Personal use is expected to witness the fastest growth during the forecast period. High spa prices frequently discourage customers from visiting on a regular basis. They prefer home spas and massages as they are more affordable than a professional treatment.

Asia-Pacific is the leading region for body oil products due to rising disposable income and a large population base.

The Asia Pacific region accounted for the largest share of the global body oil market and is projected to witness promising growth during the forecast period from 2018 to 2026. Increasing demand for body oil products from millennials, rising awareness related to health, rising discretionary spending and living standards, and a growing population are some of the factors propelling the growth of body oil in the region. The presence of leading brands such as Unilever, Patanjali, Himalaya, Sephora Singapore, etc., coupled with rising distribution channels in countries such as Japan, India, Singapore, etc., also contributes to the growth of the body oil market in the region.

Europe and North America followed the Asia-Pacific region in 2017. A shift in consumer preference towards environmentally friendly and natural products is triggering the demand for body oils. Other factors driving demand for body oils include the penetration of premium products, high awareness of health issues, and the constant introduction of personalized variant products by companies.

The Key Strategy for Global Players is New Product Development.

The body oil market is characterized by intense competition among manufacturers. The market's expansion was primarily attributed to new product launches, which were aided by promotional activities and advertisements carried out by major manufacturers.

Trends show that manufacturers are striving to introduce multi-benefit, value-added products in order to grab more customers across the globe. Some of the major players operating in the body oils market are Avon Products Inc., Aveda Corporation, Bath & Body Works, Clarins Group, Dessert Essence, E.T. Brown Drug, Suki Skincare, and Neutrogena Company, among others.

Periods of History and Forecast

Our study analyzed each market segment during the period of 2016 to 2026,with 2017 as the base year. The forecast period between 2018 and 2026 is considered for the CAGR calculation.

Report Scope

The report provides a detailed overview of the global body oil market by categorizing it into the following segments:

This research report describes leading continents and their major countries, along with profiles of key players operating in the overall market and their planned developments. Our report further defines the overall market dynamics, such as drivers, challenges, and opportunities prevalent in the market, to understand the global body oil market more explicitly. Our in-depth quantitative and qualitative analysis of each segment up to the country level highlights revenue pockets and investment opportunities in the market.

Key questions are answered in this report.

  • What are the current market trends in the body oil market, and what opportunities exist for players?
  • How do environmental regulations affect global as well as regional markets?
  • Which is the most lucrative region for investment?
  • What are the market size and trends in emerging markets?
  • Which are the prime distribution channels for body oils across different geographies?
  • Which are the major product types of body oils and their market sizes?
  • Which are the leading players and their market positions?

Frequently Asked Question:

The market for Body Oils Market is expected to reach USD$ XX Mn in 2026.

The Body Oils Market is expected to see significant CAGR growth over the coming years, at 4.2%.

The report is forecasted from 2018 -2026.

The base year of this report is 2017.

Aveda Corporation, Bath & Body Works, Clarins Group, Dessert Essence, E.T. Brown Drug, Suki Skincare, and Neutrogena Company. are some of the major players in the global market.

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Published Date:  Oct 2018
Category:  Consumer Goods
Report ID:   59359
Report Format:   PDF
Pages:   120
Rating:    4.2 (58)
Delivery Time: 24 Hours to 48 Hours   
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