Global Petroleum Jelly Market is valued approximately USD xx billion in 2019 and is anticipated to grow with a healthy growth rate of more than xx % over the forecast period 2020-2027.
Petroleum jelly, also known as petrolatum, is derived by the combination of natural oils and waxes and is formed as a semi-solid form. It acts as a plasticizer for polypropylene and is therefore compatible with most other plastics. Petroleum jelly consisting of hydrocarbons, has some superior properties, such as high melting point, jelly-shaped inflammability, oxidation resistance when exposed to sunlight, and insolubility in water. The worldwide petroleum jelly market is expected to increase the need for cosmetic and pharmaceutical products. Petroleum Jelly produces a safe blockade on dry and vandalized skin that locks the vapor and helps to promote the skin’s natural recovery process. This creates a high demand for multi-hydrocarbons in cosmetics and pharmaceutical industries for petroleum jelly. Growing the need for important pharmaceutical and cosmetic outcomes across the globe can be one of the major controls of the global demand for mineral jelly, owing to increased awareness of natural products and increased consumer energy procurement.
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For instance, according to Statista, in 2018, relative to the previous year, the global cosmetics industry expanded by an estimated 5.5 percent. The cosmetic market ‘s major product categories are skincare, hair care, make-up, perfumes, toiletries and deodorants, and oral cosmetics. According to Statista, The leading group was skincare, accounting for about 39 percent of the global market. A further 21 percent was made up of hair care products, while make-up accounted for 19 percent in 2018. As its market value is expected to increase by 20.1 billion US dollars between 2014 and 2019, skin care has been predicted to remain the most lucrative product segment. The key players of global Petroleum Jelly Market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, In 2019, Godrej Consumer Goods Limited acquired Canon Chemicals, a major manufacturer and distributor of Kenya-based personal care and home care products. However, the accessibility of mineral jelly reserves containing organic mineral jelly ingredients with a natural component impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Petroleum Jelly Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to growing need for important pharmaceutical and cosmetic outcomes. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increase the need for cosmetic and pharmaceutical products would create lucrative growth prospects for the Petroleum Jelly Market across Asia-Pacific region.
Major market player included in this report are:
Sovereign Chemicals and Cosmetics
Shimi Taghtiran Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End-Use Industry:
Cosmetics and Personal care
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
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Target Audience of the Global Petroleum Jelly Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers