Global Petroleum Jelly Market Size will Reach $1145.23 Million in 2023

Global Petroleum Jelly Market Overview

According to Global Market Monitor, the globalpetroleum jelly market size will reach $1145.23 million in 2023 with a CAGR of 1.74% from 2023 to 2028.

Petroleum jelly is a mixture of mineral waxes and oils. It can lock moisture in the skin, repair and relieve dryness, and is made from the waxy crude oil material that forms on oil rigs.

Petroleum Jelly is an important raw material for the production of pharmaceuticals, daily chemicals, and other fine chemical products. With the economic development of developing countries, the rapid growth of various industries has led to an increasing demand for petrolatum. Especially in the Asia-Pacific region, the development of the food and pharmaceutical industry has stimulated the consumption of food-grade, pharmaceutical-grade, and industrial-grade petroleum jelly consumption. With the promotion of downstream industries, petroleum jelly has good market potential in emerging countries. The demand for petrolatum in the pharmaceutical industry will further increase as the development of the pharmaceutical industry, so the market demand for high-end petroleum jelly that can meet the pharmacopeia standards will continue to rise. The development of high-end products and the emergence of innovative technologies for product production may bring new growth to the petroleum jelly market.

Market Segment

There is a diversified landscape of the global petroleum jelly market according to the demand of different segments. In the field of cosmetics, petroleum jelly is often used as the main ingredient in moisturizers, lipsticks, skin care lotions, and other products. In the pharmaceutical field, it is widely used in the treatment of dry skin, scar repair, and psoriasis. The market demand for these two segments is huge, which promotes the rapid growth of the petroleum jelly market, of which the pharmaceutical segment occupies the largest market share.

With the consumers' pursuit of natural and organic products, some skin care products based on natural ingredients have begun to emerge, which has put a certain pressure on the petroleum jelly market. At the same time, the global market competition is becoming more and more fierce, enterprises need to maintain competitiveness through continuous innovation and optimization of marketing strategies.

By type	Pharmaceutical Grade
	Cosmetic Grade
	Industrial Grade
	The cosmetic grade segment contributes the largest market share.
By application	Cosmetics
	Personal Care Products
	Pharmaceutical
	Others
	The pharmaceutical segment occupies the biggest share.
By region	United States
	Europe
	China
	Japan
	India
	Southeast Asia
	Middle East and Africa
	Europe accounts for a considerable share of the petroleum jelly market.