Jojoba Beads Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Jojoba Beads Industry Hit Worst due to Russia-Ukraine War Impact?
The jojoba beads market is predicted to skyrocket during the forecast period. Jojoba bead’s skin and hair enhancing properties are expected to boost the market growth. Fortune Business Insights™ presents this information in its report titled “Jojoba Beads Market, 2021-2029.“
Jojoba beads are obtained by hardening jojoba oil and offer excellent nourishment to hair and skin. It clears dust and other impurities and reduces skin pores. Cosmetic products using jojoba seeds enhance the skin’s ability to absorb the benefits provided by the product. It is also used in soaps to enhance skin quality and offer a pleasant smell. In addition, its increasing applications in hair care, deodorants, make-up, and others are expected to propel market growth in the foreseeable period.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Jojoba Beads Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Jojoba Beads Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
By formulation, the market is segregated into creams, liquids, lotions, gels, oils, and others. As per type, it is divided into red hibiscus, glacier, sierra sky, ocean blue, sequoia, sweet honey, evergreen, and others. Based on application, the product is divided into haircare, skincare, fragrances & deodorants, makeup & color cosmetics, and others. Geographically, it is grouped into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
- This report offers an analysis of the top segments and the latest market trends.
- It conducts a comprehensive analysis of the impact of COVID-19 on the market and the driving and restraining factors.
- The report examines the strategies implemented by the market’s key players and the regional developments.
Drivers and Restraints
Increasing Applications in the Personal Care Sector to Propel Market Growth
Jojoba beads are extensively used in skincare cosmetics for the exfoliation of dead skin cells. It enhances skin health and enhances its glow. Changing lifestyle and increased spending capacity in the developing countries is responsible for the increase in product’s sales. Consumer inclination towards the consumption of healthy products fuels the demand for jojoba beads. Further, it is used in deodorants because of its excellent smell. It is also used in cosmetic and make-up products because of the visual appeal and nourishing features of jojoba beads. Thus, this factor can drive the jojoba beads market growth.
However, the incessantly competitive market is likely to hamper the market growth.
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Robust Demand for Jojoba Beads to Propel Market Growth in Asia Pacific
Asia Pacific is projected to dominate the jojoba beads market share because of the robust demand from the population. In addition, the region is a leading consumer and producer of jojoba beads. Thus, this factor can propel market growth.
In North America, the growing demand for the product among health-conscious consumers is responsible for propelling the market growth.
In Europe, the manufacturing industry’s prevalence and the demand for personal care products using jojoba beads are responsible for propelling the market growth.
Launch of Novel Products by Prominent Players to Enhance Brand Image
Prominent companies in the market are launching novel products with enhanced properties to enhance their brand image. For example, Vantage Specialty Ingredients launched beads in 2016 to replace polythene beads. It is a biodegradable and cost-efficient product launched for personal care and beauty products. This launch can enhance the company’s brand image. Furthermore, the companies have undertaken expansion to improve their market reach in the global market.
List of Key Players Profiled in the Jojoba Beads Market Report
- The Body Shop
- 3Lab Inc.
- The Face Shop
- Tonymoly Co. Ltd.
- The Forest Essentials Sephora Inc.
- Innisfree Corporation
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