The global Cosmetic Chemicals market is projected to reach US$ 26.84 Billion by 2032, growing at a CAGR of 5.4%
The cosmetic market growth is owing to the increased demand for beauty product by the growing population and the working women. Growing awareness and increased spending power is the driving the market growth, especially in developed countries. Increased consumer spending on cosmetic and toiletry products is helping the growth of cosmetic chemicals market size. Users are now becoming conscious and there is demand for mild, natural and non-animal based products. This has led to the manufacturers growing interest in environment friendly products which are also sustainable.
Furthermore, there is a huge demand for growing use of UV absorbent lotions for personal care which is helping the growth of cosmetic chemicals market size, and is expected to drive the market in coming years too. The key market players are focusing towards developing organic grade cosmetics which are in high demand. At the same time, custom cosmetics developed organically, to meet specific requirements of traditional users is also becoming popular. These products are prepared with petroleum oils and commodity surfactants. Moreover, the demand for personal care products is growing substantially in the Male segment. There is a high demand for new skin lightening products from females as well as males. These are some factors that are helping the growth of cosmetic chemicals market.
However, the growing health awareness among users with respect to the toxic ingredients used in production, might hamper the growth of cosmetic chemicals market size.
Segmentation of cosmetic chemicals market share is done on the basis of Type, application and region. Segmentation on the basis of product type is done as surfactants, emollients, UV absorbers and conditioning polymers. In the year 2013 surfactants and UV absorbers were the major contributors in cosmetic chemicals market share owing to its increased usage as preservatives in various skin care products. Furthermore, these chemicals contain various herbs, minerals, antioxidants, vitamins and fragrances which are further aiding the growth of cosmetic chemicals market.
Segmentation of cosmetic chemicals market on the basis of applications can be done as skin care, make up, fragrance and haircare products. The largest among these are skin care product due to its high UV absorbing features. Consumer concern for safety while usage of sulfate-based surfactants, for making of skin care products would also help the market growth. In the application segment, make-up and hair care products are also going to experience considerable growth during the forecast period.
Based on region the segmentation is done as Europe, North America, Asia-Pacific, South America, Middle East and Africa. Owing to the large market presence of cosmetic industry, North America is the leading contributor of cosmetic chemicals market share. The growth in region is constant and is expected to keep growing over the forecast period. After North America, Asia-Pacific is expected to grow at the fastest rate owing to the increased popularity and usage of the product.
Key contributors of cosmetic chemicals market share are Givaudan, The Dow Chemical Company, Lonza Group, Ashland Inc., Lanxess, Eastman Chemical Company, BASF SE, and many others.
Cosmetic Chemicals Market Scope
|Revenue forecast in 2032
|US$ 26.84 Billion
|CAGR of 5.4% during 2022-2032
|Based on Product Type, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Dow, Givaudan, Ashland Inc., Eastman Chemical Company, Lonza Group, BASF SE, Lanxess, P&G Chemicals, Solvay S.A., Evonik Industries AG, Bayer AG, Croda International plc, Stephan Company, Symrise, Cargill, Others
The various segments of cosmetic chemicals market share are,
- Emollients & Moisturizers
- Single Use Additives
- Thickening Agents
- Skin Care
- Hair Care
- Color Cosmetics
- Perfume & Fragrance
- North America
- South America
- Middle East & Africa