market update | Latest Trends & Expectations 2024: Jojoba Oil
Jojoba oil, extracted from the seeds of the Simmondsia chinensis plant, is a versatile and sustainable oil that is becoming increasingly popular in the skincare and cosmetics industry. This blog post provides a comprehensive update on the latest trends and expectations for jojoba oil in 2024.
1. Sustainability and Transparency in the Supply Chain
Trend analysis
Consumers are demanding more transparency and sustainability in the products they buy. A report from Ecovia Intelligence shows that 72% of consumers are willing to pay more for products from brands that act sustainably. The jojoba oil industry is responding by paying more attention to ethical and environmentally friendly production processes.
Expectations
In 2024, the demand for sustainably sourced jojoba oil will continue to grow. The organic jojoba oil market is estimated to grow at 7.5% per year, reaching a market value of $290 million by 2024.
2. Growing Popularity in Multifunctional Cosmetics
Trend analysis
The demand for multifunctional products is increasing, with consumers preferring products that offer multiple benefits. A report from Mintel shows that 60% of consumers prefer multi-functional skincare products. Jojoba oil, known for its moisturizing and protective properties, fits perfectly into this trend.
Expectations
The multifunctional cosmetics market is expected to grow by 8% per year until 2024. Jojoba oil will be widely used in products such as facial serums, hair care products, and body creams that combine multiple benefits.
3. Innovations in Extraction and Processing
Trend analysis
There is a strong focus on technological advancements in jojoba oil extraction and processing methods. Cold-pressed jojoba oil and CO2 extraction techniques provide higher quality products with more retained nutrients.
Expectations
Innovations such as CO2 extraction will become the norm by 2024, with the cold-pressed and CO2-extracted jojoba oil market expected to grow by 9% per year. This results in jojoba oil with higher concentrations of active substances, ideal for high-quality applications.
Action points based on trends
- Choose jojoba oil obtained via cold pressing for maximum quality.
- Choose Organic quality for the purest form of oil.
4. Integration into Holistic Health and Wellness Practices
Trend analysis
There is an increasing interest in holistic health and wellness, with natural oils such as jojoba oil playing a central role. A study by Grand View Research shows that the wellness products market is growing at an annual rate of 6.4%.
Expectations
By 2024, jojoba oil will be increasingly used in holistic practices such as aromatherapy, massage, and as a carrier oil for essential oils. The market for wellness products, including jojoba oil, is estimated to reach $5.6 billion by 2024.
Action points based on trends
- Jojoba oil in combination with essential oils for massage and aromatherapy.
- Explore the benefits of jojoba oil in various wellness practices such as skin care and relaxation.
5. Changing Consumer Preferences: Minimalism and 'Clean Beauty'
Trend analysis
Consumers are increasingly leaning towards 'clean beauty' products with simple, transparent ingredient lists. According to a Statista survey, 57% of consumers prefer products with fewer ingredients and no harmful chemicals.
Expectations
The trend towards minimalist and 'clean' beauty will continue to grow, with an expected annual growth of 7.8% in this market. Jojoba oil, known for its purity and hypoallergenic properties, will increasingly be included in clean beauty products.
Action Points for Buyers
- Prefer pure jojoba oil without additives.
- Look for 'clean beauty' products that contain jojoba oil in simple and transparent formulations.
Conclusion
Jojoba oil will remain an essential ingredient in 2024 for both DIY enthusiasts and small producers of cosmetic products. The oil benefits from trends such as sustainability, multifunctionality, technological innovations in extraction, integration into holistic wellness, and minimalist 'clean beauty'. By choosing high-quality, sustainably sourced jojoba oil and keeping an eye on the latest developments, consumers can make the most of the versatile applications and benefits of this oil.
Discover HERE the 100% pure Organic Jojoba oil at Oliemeesters: direct availability from 2.5 to 25 liters.
Contact and Questions
Do you have questions about jojoba oil or would you like more information about the latest trends? Please feel free to contact us via our website.