Vegetable oils move upmarket

Driven by demand for natural ingredients and sustainably sourced materials, the global market for vegetable oils used in beauty and personal care is expected to reach $5.84 bn (around €5.0 bn) in 2026, rising to $7.72 bn (around €6.6 bn) by 2031, according to MarketsandMarkets. This represents a CAGR of 5.8%. Asia-Pacific is expected to account for 33.4% of the market as early as 2026.

Underlying this growth is a clear shift towards higher-value products, from conventional oils to speciality, multifunctional and sustainably sourced alternatives. Jojoba, argan, avocado, castor, almond and grapeseed oils are among those benefiting from this trend. Argan oil is forecast to record the fastest growth, while coconut oil is expected to retain the largest market share over the period.

By application, hair care is set to be the fastest-growing segment, with a projected CAGR of 6.7% between 2026 and 2031. Vegetable oils are particularly valued in this category for their conditioning benefits and their ability to improve manageability and help protect the hair fibre.