The Ben oil market is likely to gain momentum within the forecast period, 2020 to 2030 on account of its increasing adoption by the beauty and cosmetics industry. The growing resistance towards chemical and artificial cosmetics with possible side effects has resulted in a rise in demand for natural ingredients in skin and personal care products, thereby augmenting the growth of the ben oil market worldwide. Beneficial oils such as ben oil, castor oil, and others have health advantages and help to rejuvenate the skin, thereby maintaining its vitality. This stands as the key factor boosting the global ben oil market growth.
This report offers insights into the market emphasizing in key drivers, restraints, challenges, and growth opportunities. Every aspect has been scrutinized so as to provide a clear understanding of the market and its growth trajectories for investors and interested buyers. An elaborate overview of TMRs (Trends, Manufacturers, and Regions) etched with the Ben oil market is presented in the report.
The report also emphasizes on the impact of the COVID-19 pandemic on the market and the challenges and opportunities that this market may face between 2020 and 2030.
The competitive landscape of the global ben oil market is fragmented in nature owing to the presence of many players. These include Avi Naturals, AETOS Essential Oils Limited (ANO), Asili Natural Oils Limited (ANO), Dawn Moringa, Jedwards International Inc., Kerfoot Group, AOS products Pvt. Ltd., and others. There is fierce competition as all players functioning with ben oil have indulged in research and development and launch of new products especially due to the accelerating demand from the beauty and cosmetics industry. Besides this, players are offering their natural and sustainable range so as to gain a competitive edge in the market competition.
One of the key players called AETOS Essential Oils earned the verified status of USDA Organic and earned a Non-GMO project in 2017, thus recognizing themselves as one of the few essential oil makers in the world. Similarly, Paris hosted “Incosmetics Global”, a popular show on personal care products and displayed a wide range of sustainable and natural offerings including organic, ethical, sustainable, and vegan offered by Kerfoot Group. Such initiatives taken by market manufacturers are likely to bode well for the market during the forecast period.
The current COVID-19 pandemic has brought about a drastic change in the world in terms of health and business. The healthcare sector has witnessed rapid development and so did the beauty and cosmetics industry. The imposition of lockdown by all state and national governments has propelled businesses to go online. There has been a tremendous growth witnessed by the healthcare and food and beverage sector during the past few months, followed closely by the beauty and cosmetics industry. The emerging trend of natural skin and personal care products has propelled the demand for ben oil in the products. It is likely to continue gaining significant revenue in the forthcoming years as well.
North America to Continue Dominating Market owing to Presence of Major Manufacturing Units
Geographically the global ben oil market is classified into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Each of these regions are further classified based on nations. Among these, North America holds the highest share owing to the presence of major manufacturers and the rapid adoption of current trends such as organic and vegan beauty products. Europe stands in close competition, followed by Asia Pacific owing to the growing adoption of brand presence, rising e-commerce industry, and the growing global competition in the beauty and glamour world. Furthermore, the market in the Middle East and Africa region is currently steady but m ay witness a slight rise owing to the increasing number of ben-oil manufacturing units.