WASHINGTON, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Global Cosmetic Ingredients Market is valued at $ 31.5 Billion in 2021 and is projected to reach a value of $ 42.9 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.3% over the forecast period 2022-2028.
One of the most significant economic areas is the Cosmetic Ingredients business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses current trends and anticipated changes to provide a full insight into the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Cosmetic Ingredients, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some key factors are anticipated to accelerate the Cosmetic Ingredients Market growth over the forecast period. The market is primarily driven by rising consumer demand for natural and organic cosmetics, rising personal care spending per person, and raising awareness of the advantages of using cosmetics. The increased demand for natural and organic cosmetics primarily drives the market for cosmetic components.
We forecast that the specialty ingredients category in Cosmetic Ingredients Market sales will account for more than 30% of total sales by 2028. Specialty ingredients provide special advantages and are used sparingly to create products with the desired properties. Plant extracts, vitamins, minerals, amino acids, nucleotides, and enzymes are a few.
Asia Pacific dominates the market, and this trend of dominance will continue throughout the projection period. The presence of numerous important players in Asia Pacific region and the significant amount of ongoing research and development in cosmetology are expected to drive this region's global market share.
Market Dynamics
Launches of New Products to Fuel Market Expansion
Cosmetics producers have created new product lines to cater to these consumer requirements due to rapid urbanization and growing consumer interest in natural ingredients. For instance, according to Quench Botanic comments from the firm, four new skincare products with birch juice as the main component were released in May 2022. Such product launches will support the expansion of the Cosmetic Ingredients Market over the forecast period by enabling the effective use of natural Cosmetic Ingredients in the cosmetics & personal care sector to develop a variety of product ranges in skincare and body care.
Promotional Programs for Oral Care Products to Fuel Market Development
In addition to skincare and body care, Cosmetic Ingredients are useful in oral care products like toothpaste and gel for their cleansing properties. The rising prevalence of the periodontal disease has prompted businesses to launch campaigns to promote and make oral care products easily accessible. For instance, Proctor & Gamble started a campaign in January 2021 to enable 2 billion people to develop good dental hygiene practices. The initiatives will lead to an increase in both the demand for and production of oral care products, which will drive up the use of Cosmetic Ingredients in their manufacture and favorably affect the development of the Cosmetic Ingredients industry.
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Global Cosmetic Ingredients Market Segmentation:
Vantage Market Research Has Studied the Global Cosmetic Ingredients Market with Detailed Segmentation on the Basis of Ingredient Type, End Use, and Key Regions.
By Ingredient Type
- Synthetic Chemical Ingredients
- Natural/Herbal Ingredients
- Specialty Ingredients
- Oleochemical
- Botanical Extract
- Rheology Modifier
- Preservatives
- Emulsifier & Stabilizer
- Others (Vitamins, Minerals & Protein)
By End Use
- Fragrance
- Hair Care
- Skin Care
- Make-up
- Oral Care
- Eye Care
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Top Trends in Global Cosmetic Ingredients Market
- One trend that Vantage Market Research (VMR) expects to see in the Cosmetic Ingredients industry is derived from more green surfactants. Green surfactants made from coconut and palm oil are currently entering the market for cosmetic componentry. Green surfactants also play a big role in the non-ionic surfactant sub-large segment's sales increase.
- Another trend that VMR predicts will continue in the Cosmetic Ingredients industry because more people are using natural and organic cosmetics. For "clean label" cosmetics, many cosmetics manufacturing companies currently use green or plant-based surfactants.
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Top Report Findings
- Based on ingredient type, most of the Cosmetic Ingredients Market's revenue is controlled by the specialty ingredients category. The demand for specialty ingredients in the cosmetics and personal care industry has increased due to the significant rise in cosmetics consumption and the growing demand for environmentally friendly chemicals.
- Based on end use, the skin care category dominated the Cosmetic Ingredients Market, and this trend is anticipated to continue. Cosmetic components have high applicability as emollients in skin care products due to their moisturizing, whitening, and cleaning qualities and their ability to prevent the black skin spots and fungal infections on the skin.
Top 10 Players Generates More Than 45% of the Global Cosmetic Ingredients Market Revenue
The report also found that the largest players in the Cosmetic Ingredients Market are technology providers such as BASF SE (Germany), Akzo Nobel N.V. (Netherlands), Croda International PLC (UK), The Dow Chemical Company (US) and Eastman Chemical Company (US). These companies are expected to benefit from increased demand for their products and services, as well as growing investments in new products. Other major players include BASF SE (Germany), Akzo Nobel N.V. (Netherlands), Croda International PLC (UK), The Dow Chemical Company (US), Eastman Chemical Company (US), Loréal International (France), Unilever (UK), The Estée Lauder Companies Inc. (US), COTY Inc. (France), Colgate-Palmolive Company (US) and others. As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.
Skin Care Category in Cosmetic Ingredients Market to Generate Over 30% Revenue
Cosmetic Ingredients is an expensive investment. Vantage Market Research has analyzed the market for Cosmetic Ingredients to understand its current state and potential future growth factors. For better understanding, based on the end use, the Cosmetic Ingredients Market is divided into fragrance, hair care, skin care, make-up, oral care, and eye care.
During the forecast period, the market for Cosmetic Ingredients is anticipated to experience the highest CAGR for the skin care category. The global market is driven by rising female beauty consciousness and substantial unmet demand for topical products. A profitable opportunity was produced due to the availability of goods in a wide price range across all distribution channels and the presence of numerous notable major participants in the international market.
On the other hand, the hair care category is anticipated to grow significantly over the forecast period. The demand for and use of cosmetics ingredients are expected to rise along with the growing popularity of hair care products, fueling the expansion of the Cosmetic Ingredients Market.
Top Players in the Global Cosmetic Ingredients Market
- BASF SE (Germany)
- Akzo Nobel N.V. (Netherlands)
- Croda International PLC (UK)
- The Dow Chemical Company (US)
- Eastman Chemical Company (US)
- Loréal International (France)
- Unilever (UK)
- The Estée Lauder Companies Inc. (US)
- COTY Inc. (France)
- Colgate-Palmolive Company (US)
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Cosmetic Ingredients Market Forecast Report (2022-2028).
Key Developments:
- Sharon Laboratories Ltd. inked a contract in April 2022 to buy Gorla Minore of B&C S. P. Cosmetic A's ingredients division. This acquisition gives Sharon Laboratories a chance to expand its line of Cosmetic Ingredients products.
- In order to strengthen Evonik Care Solutions' position in the market for active Cosmetic Ingredients and personal care products, the company purchased Botanica in October 2021.
- Scared Patch, an active skin care product that offers outstanding skin moisturizing, was introduced by BASF SE in April 2021. It will assist the makers in creating efficient skin care products that enhance emotional well-being while addressing typical symptoms of sensitive skin.
- The peptovitae series, a new line of dermo-cosmetic peptides that will transform the cosmetics business, was introduced by BASF SE in January 2022. These peptides will enable producers to develop novel treatments for skin problems.
- German multinational corporation Beiersdorf said in April 2022 that it would launch the first skincare item ever to employ recycled CO2. The business is concentrating on doing this to lessen its carbon footprint.
- The BELSIL DADM 3050 E, a co-emulsion of silicone fluid and vegetable oil created for a variety of hair care products, including shampoos, conditioners, hairdressing gels, and hair masks, was announced by Wacker Chemie AG in June 2021. Polydimethylsiloxane, amino-modified polydimethylsiloxane, non-ionic emulsifiers, and coconut oil are the main ingredients in the product. It also simplifies hair care products' formulation while greatly enhancing the conditioning properties.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 31.5 Billion |
| Revenue Forecast by 2028 | USD 42.9 Billion |
| CAGR | 5.3% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | BASF SE, Akzo Nobel N.V., Croda International PLC, The Dow Chemical Company, Eastman Chemical Company, Loréal International, Unilever, The Estée Lauder Companies Inc., COTY Inc., Colgate-Palmolive Company |
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