Petroleum Jelly Market Report 2026

The petroleum jelly market size has grown steadily in recent years. It will grow from $1.43 billion in 2025 to $1.49 billion in 2026 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to growth of cosmetics and skincare industry, use in medicinal ointments, expansion of industrial lubrication needs, growth in leather processing, demand from shipping applications.

The petroleum jelly market size is expected to see strong growth in the next few years. It will grow to $1.84 billion in 2030 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to increasing personal care consumption, growth of pharmaceutical manufacturing, rising demand for premium cosmetic products, expansion of telecom infrastructure, development of specialty formulations. Major trends in the forecast period include rising use in personal care products, growing demand for pharmaceutical grade jelly, expansion of industrial lubrication applications, increased focus on product purity standards, growth of specialty and value added formulations.

The rising demand for cosmetic procedures is expected to propel the growth of the petroleum jelly market going forward. Cosmetic procedures include medical and non-medical interventions aimed at enhancing or altering an individual’s appearance. Petroleum jelly is widely used in these procedures, as it is applied to protect surgical sites with a thin barrier layer before cosmetic operations and to aid in post-procedure healing by treating scars, wounds, and surgical incisions. For instance, in June 2024, according to the American Society of Plastic Surgeons, a US-based nonprofit organization, minimally invasive procedures increased by 7% in 2023, outpacing surgical procedure growth by 2%. Hand surgeries, including treatments for carpal tunnel, arthritis, and trigger finger, reached 207,887 procedures - a 2% rise from 2022. Therefore, the increasing demand for cosmetic procedures is driving the growth of the petroleum jelly market.

Major companies operating in the petroleum jelly market are focusing on developing innovative products such as petroleum jelly enriched with vitamin E to provide enhanced skincare benefits. Petroleum jelly with vitamin E offers improved protection by helping shield the skin from damage caused by free radicals. For instance, in September 2023, Vaseline, a body care brand under Unilever Plc, a UK-based consumer goods company, launched Vaseline Radiant X, a new body care line formulated with premium skincare ingredients typically found in facial products. This line is designed to address the specific needs of Black and Brown skin, including moisture imbalance, dark spots, and uneven skin tone.

In July 2024, Texol Lubritech FZC, a UAE-based manufacturer of industrial lubricants and related products and a subsidiary of Gandhar Oil Refinery India, secured a major contract with Abu Dhabi National Oil Company (ADNOC) PJSC. The agreement includes the production, packaging, labeling, and supply of various products to ADNOC Distribution, marking a significant milestone in Texol Lubritech’s regional growth. ADNOC PJSC is a UAE-based state-owned energy company specializing in oil, gas, and petrochemical production.

Major companies operating in the petroleum jelly market are Exxon Mobil Corporation, Shell Inc., Petróleo Brasileiro S.A., PJSC LUKOIL, Repsol S.A., Unilever plc, Sasol Wax Group, Teva Pharmaceuticals Inc., H&R Group, Sonneborn LLC, Nippon Seiro Co. Ltd., Bliss GVS Pharma Ltd., Polwax SA, Calumet Specialty Products Partners LP, Blistex Inc., Eastern Petroleum Pvt. Ltd., Raj Petro Specialities Pvt. Ltd., Sovereign Chemicals & Cosmetics, Kerax Limited, Vasa Cosmetics Private Limited, Persia Paraffin, Unisynth Group, Shimi Taghtiran Company, Unicorn Petroleum Industries Pvt Ltd, KK India Petroleum Specialities Pvt. Ltd.

North America was the largest region in the petroleum jelly market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the petroleum jelly market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the petroleum jelly market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The petroleum jelly market consists of sales of cosmetic formulations, lip balms, skin lotions and creams, diaper rash Creams, healing ointments, makeup removers, hair products, and barrier creams. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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