Global Peel Oil Market - 2022-2029

Global Peel Oil Market - 2022-2029

Market Overview

Peel oil is a highly concentrated oil mainly extracted from fruits like orange, bergamot, lemon, mandarin, grapefruit and others. Peel oil is mostly used as a gentle skin-cleaning agent. It is commonly used in cosmetics products as it helps eliminate sebum, which often accumulates over the skin. Peel oil is also used in producing oral health products. Increasing consumer awareness about the benefits of using organic and natural ingredients based on personal and skincare products drives the market growth.

The global peel oil markets were valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 7.56% during the forecast period (2022-2029).

Market Dynamics: Increasing trend of aromatherapy drives the market growth

Aromatherapy is a complementary therapy that uses peel oil as the major therapeutic agent to treat several diseases. They are extracted from the fruits like oranges, grapes, lemons and mandarin. Inhalation, local application and baths are the major methods used in aromatherapy that utilize these oils to penetrate the human skin surface with marked aura. This type of therapy utilizes various permutations and combinations to relieve numerous ailments like depression, indigestion, headache, insomnia, muscular pain, skin ailments, respiratory problems, swollen joints, urine-associated complications etc.

Moreover, increasing buying power and changing consumers' lifestyles have played major roles in market growth. Also, peel oil is used in the food and beverage industry to prepare smoothies, cookies and other baked foods. The increase in the working women population across the world has faced many challenges related to their lifestyle as they don't get time to prepare fresh food and dessert for themselves, so they move towards buying ready-to-eat foods from hotels and restaurants. It has increased the demand for peel oil in hotels and restaurants. Health-conscious consumers move towards natural and organic ingredient-based skin care products. This further boosts the growth of the peel oil market.

Market Segmentation: Orange peel oil segment accounted for the highest share in global peel oil market

Increasing consumer demand for orange peel oil drives the market growth. Orange peel oil is an anti-inflammatory, antidepressant, diuretic, and soothing tonic. Orange peel oil is widely used in a variety of beauty treatment products. It is also used as a morning face cleanser. The smell of the orange oil is repellant for the ants. It is also used for pest control. Many health products in the market are made from orange peel oil. The increasing popularity of orange peel oil among consumers due to its aroma, depressive and carminative qualities. Rising living standards and increased disposable income create future demand for orange peel oil. It is always referred to as a luxury item.

Geographical Penetration: North America is the dominating region during the forecast period

Increasing demand from the food and beverage industry in the region's major countries, like the United States and Canada, drives the market growth in the forecast period. Demand for peel oil is increasing in the cosmetic industry in the region. Moreover, increased demand from the healthcare industry drives the market growth in the region. The growing need for essential oils, oil blends and other products in sectors like food and drinks, cosmetics, fragrance, and others are driving the demand for peel oil in the market.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are The Essential Oil Company, Vigon International Inc., TERRA Holdings, LLC., Heritage Brands Pty Ltd., Goddess of Spring LLC., Health & Beauty Natural Oils Co. Inc., SRS Aromatics Limited, Global Essence Inc., Ventós, S.A., Essential Care Organics Ltd., and Frontier Natural Products Co Op., among others. Some of the major key players launched new products in the market. For instance, in August 2021, a Former NFL player launched CBD made from orange peel. This newly launched oil is efficient in various fields, such as sports and the military. It is made from orange peels with 100 percent certified THC-free and Pesticide-free products for those who’ve been reluctant to try CBD. Also, in October 2021, Perricone MD launched an Advanced Resurfacing Peel, Expanding the Vitamin C Ester Collection. The Vitamin C Ester Daily Brightening & Exfoliating Peel. This product has a no-rinse resurfacing peel and is effective for the smooth uneven texture and eliminates dead skin cells. Vitamin C Ester promotes the look of collagen-rich skin by brightening and smoothing. For multi-action resurfacing, the formula features a unique AHA / PHA Super Blend with a powerful complex of gluconolactone, glycolic acid, and five fruit-derived extracts to help reduce dullness and uneven texture. For maximum skin benefits, free-radical fighting ferulic acid helps reduce the appearance of wrinkles and dark spots. Vitamin C Ester Daily Brightening & Exfoliating Peel (2oz) retails for $59 and is now available on PerriconeMD.com, Ulta.com, Nordstrom.com, ECScottGroup.com, Bloomingdales.com, NeimanMarcus.com, Macys.com.

COVID-19 Impact: Negative impact on the global peel oil market

The demand and sales of peel oil have experienced a sudden fall due to the outbreak of the COVID-19 pandemic. Country-wise lockdown in various countries has resulted in the disruption of trade activities, which slowed the growth of this industry. The pandemic has negatively impacted the market worldwide. Consumption of peel oil decreased due to the closure of hotels and restaurants during the pandemic. In covid, which impacted their disruption in the distribution network, peel oil struggled to sell their finished goods. Shutting down the food service industry impacted the market negatively.

The global peel oil market report would provide an access to approximately 72 market data tables, 66 figures and 170 pages