03-May-2022 | Zion Market Research
The global cosmetic ingredients market was worth around USD 19,251.7 million in 2021 and is estimated to grow to about USD 24079.8 million by 2028, with a compound annual growth rate (CAGR) of approximately 3.8 percent over the forecast period. The report analyzes the cosmetic ingredients market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the cosmetic ingredients market.
Cosmetic ingredients are crucial in manufacturing on personal care products and this is anticipated to boost the cosmetic ingredients market potential through the forecast period. The cosmetic ingredients industry is expected to be driven on the back of changing consumer preferences of the world. Increasing per capita disposable income is expected to be the major driver for the cosmetic ingredients market which will boost the sales of personal care products. India, China, and Brazil are expected to be the most prominent markets for this trend and will see high growth in demand for cosmetic ingredients over the forecast period.
Cosmetic ingredient sales are expected to see a rise in the coming years as penetration of perfect beauty trends increases as the proliferation of social media beauty increases. Increasing number of personal care brands and rising availability of personal care products are expected to further bolster the cosmetic ingredients market growth over the forecast period.
However, the different regulation standards of different regulatory bodies across multiple nations is expected to have a hindering effect on the global cosmetic ingredients market potential through 2028. The cosmetic ingredients market players have a hard time managing these regulatory norms and hence this is slowing down the cosmetic ingredients market potential over the forecast period.
The pandemic of 2020 led to a negative growth trend for the cosmetic ingredients market. The global cosmetic ingredients market was affected by the lockdown restrictions that were put in place to curb the spread of coronavirus infections and this led to toppling of the world economy and multiple markets. The cosmetic ingredients market saw restricted growth as multiple manufacturing facilities were shut down and this was further agitated as the sales of cosmetic ingredients fell due to lapses in distribution channels.
The cosmetic ingredients market is expected to make a steady comeback in the post-pandemic era as the world returns to normal and production facilities come back online. The reopening of multiple sales and distribution channels will also aid the market to make a good recovery in the post-pandemic era through 2028.
The global cosmetic ingredients market is segregated based on functionality, product type, application, and region. Based on product type, the global market is distinguished into Surfactant, Emollient, Polymer, Oleo-chemical, Botanical Extract, Rheology Modifier, Preservatives, Antioxidant, Emulsifier & Stabilizer, and Others. The surfactants segment is anticipated to be the most lucrative segment over the forecast period as use of this is widely extensive in multiple applications of personal care products. Especially the use is high in skin care and hair care applications.
The Europe cosmetic ingredients market is expected to hold a major market share and is anticipated to maintain this stance through the forecast period. Increasing per capita disposable income and rising awareness about aesthetic and physical appearances are expected to boost the sales of cosmetic ingredients through 2028 in this region. Increasing awareness about physical and aesthetic appearance in men as well as women in this region will majorly influence the cosmetic ingredients market potential over the forecast period. Increasing demand for luxury personal care products is also anticipated to favor cosmetic ingredients market potential in the coming years.
Key players functioning in the global cosmetic ingredients market include 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).
Browse the full “Cosmetic Ingredients Market By Functionality (Cleansing Agents & Foamers, Aroma, Moisturizing, Specialty, Others), By Product Type (Surfactant, Emollient, Polymer, Oleo-chemical, Botanical Extract, Rheology Modifier, Preservatives, Antioxidant, Emulsifier & Stabilizer, Others), By Application (Skin Care, Hair Care, Makeup, Fragrance, Oral Care, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/cosmetic-ingredients-market
Global cosmetic ingredients market is segmented as follows:
By Product Type
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