New York, United States , Dec. 12, 2023 (GLOBE NEWSWIRE) -- The Global Functional Cosmetic Ingredients Market Size is to grow from USD 3.8 Billion in 2022 to USD 6.87 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.9% during the projected period.
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Functional cosmetic ingredients are different substances that are used in cosmetic skincare products to improve functionality. They are made up of chemical compounds that are either derived from natural sources or synthesized. They serve a variety of purposes such as personal hygiene and skin care products will be used to cleanse and protect the body or skin. Makeup can be used to conceal blemishes, improve one's facial features (such as eyebrows and eyelashes), and add appearance to a person's face. Because of the harsh ingredients in makeup, people with acne-prone skin are more likely to experience breakouts. Active ingredients in functional cosmetics are frequently designed to address specific skin concerns or provide specific results. Active ingredients include antioxidants, vitamins, minerals, peptides, hyaluronic acid, retinol, and botanical extracts. Depending on its intended use, the product may address anti-aging, moisture, brightening, firming, acne-fighting, or skin-sensitivity concerns. Functional cosmetics include ingredients that help the skin with sun protection, skin brightening & whitening, acne treatment & oil control, hair repair and nourishment, color enhancement & pigmentation, moisturizing & hydrating, anti-aging & wrinkle reduction.
COVID 19 Impact
During the pandemic, consumers prioritized necessities, and demand for cosmetic products, including functional ingredients dropped. Health and hygiene products were prioritized over non-essential beauty items by consumers. During lockdowns, the closure of retail outlets and salons reduced demand for cosmetic products. Functional ingredients used in professional beauty treatments and salon services suffered the most.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on the "Global Functional Cosmetic Ingredients Market Size, Share, and COVID-19 Impact Analysis, By Functionality (Sun Protection, Skin Brightening & Whitening, Acne Treatment & Oil Control, Hair Repair & Nourishment, Color Enhancement & Pigmentation, Moisturizing & Hydrating, Anti-Aging & Wrinkle Reduction), By Ingredient (Conditioning agents, Antioxidants, Sunscreen Agents, Anti-Aging Agents, Whitening Agents, Anti-Inflammatory Agents, Peptides & Proteins, Botanical Extracts, Vitamins & Minerals), By Application(Skin Care Product, Hair Care Products, Oral Care Products), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032
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The moisturizing & hydrating segment dominates the market with the largest revenue share over the forecast period
Based on the functionality, the global functional cosmetic ingredients market is segmented into sun protection, skin brightening & whitening, acne treatment & oil control, hair repair and nourishment, color enhancement & pigmentation, moisturizing & hydrating, anti-aging & wrinkle reduction. Among these, the moisturizing & hydrating segment is dominating the market with the largest revenue share over the forecast period. Moisturizing and hydrating products have become an essential part of consumers' self-skincare routines, as it is critical to keep skin hydrated. Moisturizing and hydrating products offer numerous skin benefits, including smoothing and softening skin, increasing skin hydration, improving and maintaining skin characteristics integrity, and preventing moisture loss. Moisturizers also deliver ingredients like Vitamin C, hyaluronic acid, retinol, and others to the skin. Products are available for all skin types, including dry, oily, and combination skin. Many customers are willing to spend money on skincare and diversify their skincare regimens.
The conditioning agents’ segment is witnessing significant CAGR growth over the forecast period.
On the basis of ingredients, the global functional cosmetic ingredients market is segmented into conditioning agents, antioxidants, sunscreen agents, anti-aging agents, whitening agents, anti-inflammatory agents, peptides & proteins, botanical extracts, vitamins & minerals. Among these, the conditioning agents segment is witnessing significant growth over the forecast period. Conditioning agents are moisturizers made up of various lubricants and oils. Conditioning agents involve hair styling gels, shampoos, and conditioners, serums, sprays for hair and conditioning products, gels, facial spray mists, skin toners, creams, lotions, and fabric softeners. With their low cost and benefits, conditioning agents are useful in skincare and hair care products.
The skin care product segment is expected to hold the largest share of the global functional cosmetic ingredients market during the forecast period.
Based on application, the global functional cosmetic ingredients market is segmented into skincare products, hair care products, and oral care products. Among these, the skin care product segment is expected to hold the largest share of the functional cosmetic ingredients market during the forecast period. Acne, dark spots, scars, dullness, and tanning have all increased demand for skin nourishment products. Skin-brightening products, toners, and scrubs are gaining popularity among the younger generation. Lifestyle changes and increased consumer spending on premium beauty care products are expected to drive the growth of the skincare product market
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Europe dominates the market with the largest market share over the forecast period.
Europe dominates the market with the largest market share over the forecast period. This region is a center for cosmetic research and development, resulting in the development of novel functional ingredients that address specific skin and hair needs. Stringent regulations in the European Union ensure the safety and efficacy of cosmetic ingredients, giving consumers confidence as well as market growth opportunities for compliant products. The European personal care market has already begun to prioritize VOC-free, easily biodegradable, environmentally friendly surfactant products made from renewable raw materials. In order for manufacturers to meet environmental regulations, the trend toward natural products is expected to continue during the forecast period.
North America is expected to grow the fastest during the forecast period. Customers are becoming more concerned about sustainability and ethical sourcing, and they prefer products made with eco-friendly and cruelty-free ingredients. Increased health consciousness fuels demand for cosmetics containing functional ingredients such as sunscreens and antioxidants. The United States dominated the North American region, accounting for the largest portion of the functional cosmetic ingredients market and generating revenue.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the, Major vendors in the global functional cosmetic ingredients market Evonik Industries AG, Gattefosse, Lucas Meyer Cosmetics, Eastman Chemical Company, Emery Oleochemicals, Vantage Specialty Chemicals, United-Guardian Inc., Connect Chemicals, The Good Scents Company, BASF SE, Dow, Ashland, Inc., Stepan Company
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Recent Market Developments
- In September 2023, Gatuline® RC, a new active ingredient from Gattefossé, has been clinically proven to reduce the appearance of wrinkles and fine lines.
Market Size Segment
This study forecasts global, regional, and country revenue from 2020 to 2032. Spherical Insights has segmented the global functional cosmetic ingredients market based on the below-mentioned segments:
Functional Cosmetic Ingredients Market, Functionality Analysis
- Sun Protection
- Skin Brightening & whitening
- Acne Treatment & Oil Control
- Hair Repair & nourishment
- Color Enhancement & pigmentation
- Moisturizing & Hydrating
- Anti-Aging & Wrinkle Reduction
Functional Cosmetic Ingredients Market, Ingredient Analysis
- Conditioning agents
- Antioxidants
- Sunscreen Agents
- Anti-Aging Agents
- Whitening Agents
- Anti-Inflammatory Agents
- Peptides & Proteins
- Botanical Extracts
- Vitamins & Minerals
Functional Cosmetic Ingredients Market, Application Analysis
- Skin care products
- Hair care products
- Oral care products
Functional Cosmetic Ingredients Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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