According to MarketsandMarkets, the global vegetable oils in beauty and personal care market is projected to reach USD 5.8 billion by 2027 from USD 4.4 billion by 2022, at a CAGR of 5.7% during the forecast period in terms of value. Vegetable oils are traditionally used in cosmetic products such as day creams, night creams, lotions, lipsticks, and shampoos. The wide range of fatty acids in vegetable oils drives consumer demand as there is a rising trend for natural and organic products.
The key players in this market include BASF SE (Germany), CREMER OLEO GmbH & Co. KG (Germany), SOPHIM (France), ADM (US), Maverik Oils (US), Australian Botanical Products (Australia), Zapach International (India), Ernesto Ventós S.A. (Spain), Louis Dreyfus Company (Netherlands), Cargill, Incorporated (US), Vantage Specialty Chemicals (US), OLVEA (France), All Organic Treasures GmbH (Germany), Gustav Heess GmbH (Germany), PRODIGIA (Morocco), Jayant Agro-Organics Limited (India), Sigma Oil Seeds B.V. (Netherlands), and ConnOils LLC (US).
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BASF SE is a chemical manufacturing company a portfolio divided into major segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. It has a wide range of customer base in nearly all sectors worldwide. It operates six chemical production sites and 232 additional production sites in 90 countries across Africa, the Asia Pacific, Central America, Europe, North America, South America, and the Middle East.
In February 2022, BASF made a second-round funding investment in B2B Cosmetics in February 2022. After BASF invested in B2B Cosmetics in 2019, the companies worked together to develop the Emuage technology, a system that sends consumers freshly made, personalized cosmetics. This will help the company seep-up the process of new product development.
Louis Dreyfus Company is a global merchant and processor of agricultural goods, operating a significant network worldwide. The Group operates its global business under two segments: Value Chain and Merchandizing. The company is present in Europe, Middle East & Africa, Asia, North America, and South America. It has its presence in 180 locations worldwide and over 100 different countries.
In September 2021, Louis Dreyfus Company completed the sale of an indirect 45% equity investment in Louis Dreyfus Company B.V. (LDC) to ADQ. ADQ is one of the largest holding corporations in the Middle East, with headquarters in Abu Dhabi. This partnership enabled both firms to increase financial gains and enhance the UAE's economic cluster.
Cargill, Incorporated is one of the largest globally diversified services companies catering to demand in various industries. The company has its global operations in major key segments: food ingredients & bio-industrial, animal nutrition, protein & salt, agricultural supply chain, metals & shipping. The company operates in 70 countries and has a sales presence in 125 countries across North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa.
In December 2020, Cargill acquired Floratech, a leading global provider of innovative natural emollients and derivatives for beauty and personal care applications. This development has expanded Cargill’s operations in the beauty & personal care market.
Vegetable Oils in Beauty and Personal Care Market by Application (Color Cosmetics, Skin Care, Hair Care), Nature (Conventional, Organic), Type (Coconut, Sweet Almond, Jojoba, Argan, Apricot, Pomegranate, Avocado) and Region - Global Forecast to 2027
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