The global Cosmetic Antioxidants market was worth USD 121.7 Billion in 2019 and is predicted to reach USD 180.7 Billion by 2026, increasing at 5.8% CAGR.
Cosmetic Antioxidants Market
According to the report published by Zion Market Research, global demand for Cosmetic Antioxidants market was valued at approximately USD 121.7 Billion in 2019, and is expected to generate revenue of around USD 180.7 Billion by end of 2026, growing at a CAGR of around 5.8% between 2020 and 2026.
Cosmetic antioxidants are natural substances that are made of vitamins and minerals. These help in fighting against free radicals that can cause harm to DNA, proteins, and lipids. The damaged skin cells lead to aging along with wrinkles, dry skin, dark circles. It also affects skin flexibility. Cosmetic antioxidants are helpful to humans in two ways—they help in avoiding degradation of natural substances, including proteins, sugars, and lipids in cosmetic items and help in slowing down the process of aging. The demand and popularity of the cosmetic antioxidants market on a global scale can be attributed to the increased use of hair care products to safeguard one’s mane from the adverse effects of environmental pollution.
The major growth drivers in the global cosmetic antioxidants market are rapidly increasing the population of aged people globally, changing the lifestyle of people across the globe, and the growing disposable income of the middle-class people. The growing demand for skincare items, increasing adoption of beauty care and personal care products, especially in emerging economies, such as India and China, and rising demand for hair conditioning products for safeguarding one’s mane from the harmful effects of pollution are among other factors that are fuelling the demand for the cosmetic antioxidants market across the world.
However, the penetration of advanced medical technologies in various developed countries, the high-priced natural antioxidants, and the rising concerns of synthetic antioxidants might limit the cosmetic antioxidants market on a global scale in the near future.
The global cosmetic antioxidants market is classified into type, source, function, and application. By type, the market for cosmetic antioxidants is divided into Vitamin A, Vitamin C, Vitamin E, enzymes, polyphenols, and carotenoids. In terms of source, this market is bifurcated into chemically derived antioxidants and natural antioxidants. On the basis of function, this global market includes anti-inflammatory, UV protection, moisturizing, hair cleansing, anti-aging, hair conditioning, and others. Based on application, the cosmetic antioxidants market is fragmented into hair care, skincare, and makeup. The skincare segment is likely to dominate the market, due to growing consciousness regarding physical appearance among the global population.
The global cosmetic antioxidants market is classified into Europe, North America, the Middle East and Africa, Latin America, and Asia Pacific. North America and Europe are developed markets for cosmetic antioxidants and are likely to show good growth in the upcoming years. This growth can be attributed to the increasing demand for best quality natural ingredients in cosmetic products with minimum side effects, which, in turn, is driving the market for cosmetic items with natural antioxidants. In the Asia Pacific region, China, Japan, and India are major markets for cosmetic antioxidants and are likely to be in the future. This is due to the increasing consumer spending on cosmetic items and bettering economies of emerging economies in the region.
Some of the most important market players in the global cosmetic antioxidants market include Yasho Industries, Wacker Chemie, Seppic, Provital Group, Nexira, Merck, Lonza Group, Koninklijke DSM, Kemin Industries, Jan Dekker International, Croda International, Eastman Chemical Company, Barentz International, Btsa Biotecnologias, Archer Daniels Midland Company, Ashland Global Holdings, and BASF SE, among others.
Rising productivity growth for anti-aging cosmetics and personal care products and an increasing ageing population, developing countries, are key factors driving the global market for cosmetic antioxidants. The growth of the global market is also being fuelled by growing perception of cosmetic products coupled with increasing disposable cash.
According to Zion Market Research, global demand for cosmetic antioxidants market is expected to generate revenue of around USD 180.7 Billion by end of 2026, growing at a CAGR of around 5.8% between 2020 and 2026.
The Asia Pacific cosmetic antioxidants market is projected to hold the largest share globally in the future. Growing demand for natural ingredients in cosmetics especially in China and India is expected to propel the demand.
Some main participants of the Cosmetic Antioxidants market are Yasho Industries, Wacker Chemie, Seppic, Provital Group, Nexira, Merck, Lonza Group, Koninklijke DSM, Kemin Industries, Jan Dekker International, Croda International, Eastman Chemical Company, Barentz International, Btsa Biotecnologias, Archer Daniels Midland Company, Ashland Global Holdings, and BASF SE, among others.