The Cosmetic Ingredients market is expected to grow at a CAGR of 4.3% to reach US$ 40.22 Billion in 2029.
The cosmetic ingredients market size is growing due to increased demand for good quality cosmetic products. The developing countries of Asia Pacific and Latin America are seeing growth and change in lifestyle patterns that has led to increased opportunities for cosmetic products. Growth in income, rising awareness about beauty products and self-awareness are market drivers. Consumers are aware and demanding for cosmetic products that are environment friendly and have a clean-label green cosmetics. The wish to look good round the clock is driving the market growth. The growing awareness regarding healthy skin and growing use of cosmetics that help fight ageing process is making growth in cosmetic ingredients market size possible.
Growing innovations and alternative ingredients along with extensive research and development is carried out in the cosmetic industry. This helps manufacturers to meet the changing customer demand, and manufacture new products for the users. Cosmetic ingredients market trends indicate growth in demand for organic products, especially in Asia-Pacific region.
Though cosmetic ingredients market size is growing and expected to grow during the forecast period, delay in strict approvals might hamper the market growth. Furthermore, the strict rules pertaining to giving approvals for use as medical compounds may hamper the market growth. Also, the user demand keeps changing within a short time frame, hence the dynamic nature might also affect the market growth.
The cosmetic ingredients market is segmented on the basis of Type, end-user, Function and region. Segmentation on type of product is done as Surfactants, Emollients, Polymers, Antioxidants and Preservatives and Rheology Modifiers. The surfactants are dynamic ingredients which is widely used in hair care, skin care, and grooming products for men. Cosmetic ingredients market trends indicate preference towards organic products, hence manufactures are using green surfactants in the products. Palm oil and coconut oil is widely used as a green surfactants while manufacturing the products. Polymer segment is the segment growing at the maximum CAGR of XX% in the coming years. It is widely used due to eco-friendly properties, and the polysaccharides, proteins, natural rubber and gum are some types of natural rubber. Furthermore, the conditioning polymers is widely used in hair conditioners. The preservative segments is used as UV absorber and anti-oxidant products. The segment of Botanicals extract is growing owing to its increased demand for essential oils in skin care, make up and fragrances.
Segmentation of the cosmetic ingredients market on the basis of Function is moisturizing Agent, cleansing agent, coloring Agent and others. Segmentation on the basis of end users are Skin Care,
Make Up, Hair Care, Oral Care and others. The moisturizing agent segment contributes the maximum share in the market. By region it is divided as North America, Europe, Asia Pacific and Latin America.
Some of the key players in the cosmetic ingredients market are Rhodia, Ashland Inc., Sederma Inc., DuPont Tata & Lyle Bio Products, Sumitomo Group and many others.
Cosmetic Ingredients Market Scope
|Revenue forecast in 2029
|US$ 40.22 Billion
|CAGR of 4.3 % during 2019-2029
|by Consumer, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|BASF SE (Germany), Ashland (US), Solvay (Belgium), Dow (US), Clariant (Switzerland), Croda International Plc. (UK), Evonik Industries AG (Germany), Nouryon (North Holland), and Lonza (Switzerland), among others.
The various segments of cosmetic ingredients market are,
- Antioxidants and Preservatives
- Rheology Modifiers
- Coloring Agent
- Moisturizing Agent
- Cleansing agent
- Skin Care
- Oral Care
- Make Up
- Hair Care
- North America
- Asia Pacific
- Latin America