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 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 Market: Overview
Cosmetic ingredients are major elements that are used in formulation of multiple cosmetic and personal care products. The demand for cosmetic ingredients is expected to see a good growth over the forecast period as consumption of cosmetic and personal care products increases on a global scale.
Increasing focus on personal care, rising availability of cosmetic products, increasing awareness about physical appearance via social platforms, increasing disposable income are some of the other factors that will guide the cosmetic ingredients market potential in years to come.
Regulations across multiple regions are expected to have a slowing effect on the cosmetic ingredients market growth over the forecast period.
The COVID-19 pandemic led to a downfall in the demand outlook for cosmetic ingredients market and this was due to multiple factors that affected the market potential. Lockdown restrictions imposed by multiple nations across the world which led to a global economic slowdown as trade activity and industrial activity was majorly hampered under these restrictions.
Shortage of raw materials led to a complete shutdown of manufacturing and production facilities and the market stance was worsened by closure of multiple sales and distribution channels across the world and resulted in losses for cosmetic ingredients companies in 2020
The cosmetic ingredients market is expected to make a slow recovery in post-pandemic era as the world returns to normal. As sales and distribution channels are opened and manufacturing activity resumes to normal the cosmetic ingredients market is expected to make full recovery over the forecast period.
Cosmetic ingredients Market: Growth Drivers
Increasing Per Capita Disposable Income of Consumers
Consumers across the world have seen some major change in purchasing trends and this is expected to favor the cosmetic ingredients market potential. Increasing urbanization and rising purchasing power of consumers are expected to be prime factors driving the sales of cosmetic and personal care products and this subsequently drives the cosmetic ingredients market potential over the forecast period.
Cosmetic ingredients Market: Restraints
Regulatory Norms of Different Nations
Different nations have different regulatory bodies and who regulate safety standards of multiple products and they govern their sales. These regulations are for consumer safety but they make it difficult for cosmetic ingredients manufacturers to make products that are complaint with them all. And hence this factor alone is expected to have a hindering effect on the global cosmetic ingredients market potential through 2028.
Global Cosmetic ingredients Market: Segmentation
The global cosmetic ingredients market is segregated based on functionality, product type, application, and region.
By Product Type, the market is divided into Surfactant, Emollient, Polymer, Oleo-chemical, Botanical Extract, Rheology Modifier, Preservatives, Antioxidant, Emulsifier & Stabilizer, and Others. The surfactants segment is anticipated to hold a dominant market share through the forecast period. Rising use of surfactants in cosmetic and personal care products is expected to boost the demand for this segment over the forecast period.
By Application, the cosmetic ingredients market is segmented into Skin Care, Hair Care, Makeup, Fragrance, Oral Care, and Others. The rising awareness for skin care and makeup is expected to boost these applications for the cosmetic ingredients market on a global scale. The skin care segment will be the most lucrative over the forecast period.
Europe region leads the global cosmetic ingredients market in terms of revenue and volume share and is anticipated to maintain this stance through 2028. The cosmetic ingredients market in this region is expected to be driven by presence of key cosmetic ingredients companies and rising awareness for physical appearance in the European population. Increasing consumption of skincare, hair care, make up products in this region is expected to propel demand for cosmetic ingredients in this region. The cosmetic ingredients market in this region will also be driven by increasing spending potential of the general population. The rising popularity of luxury care products is also anticipated to propel sales of cosmetic ingredients in this region over the forecast period.
Increasing per capita disposable income in Asia Pacific region will also prominently drive the cosmetic ingredients market potential through 2028. India and China are expected to lead the cosmetic ingredients market potential.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Some of the main competitors dominating 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).
Global cosmetic ingredients market is segmented as follows:
By Product Type
Cosmetic ingredients are a chemical used in personal care products such as soap, lotion, shampoos, perfumes, and powders. Cosmetics and personal care products play a vital role in our lives, as they not just enhance our aesthetic beauty but well being too. For instance, sun creams are used for well being and skin care, while hair care products and moisturizers are used as grooming products. Cosmetics ingredients are categorized as synthetic and organic. Synthetic cosmetic ingredients include aluminum salt, phthalates, paraben, and petrochemicals etc; whereas, organic ingredients extracted from natural sources include plant extract, vitamins, proteins, waxes, oils & fats, additives, preservatives and thickening agents. Growing health concern and increasing demand for cosmetic ingredients is expected to propel the cosmetic ingredient market growth over the forecast period.
The global cosmetic ingredient market is expected to witness robust growth in the near future. Cosmetic ingredient market is categorized on the basis of type and application. Based on the type, cosmetic ingredient market is classified into surfactants, conditioning polymers, emulsifiers, emollients, antimicrobials, UV absorbers, antioxidants and preservatives, and rheology modifiers. The market is mainly driven by growing demand for natural hair care products without ammonia, sulfur, and paraben. However, various regulations prohibiting the use of certain chemicals as cosmetic ingredients could hamper market growth
By application, cosmetic ingredient market is categorized into skin care, hair care, makeup and oral care. Changing lifestyle and raising awareness about skin care is projected to boost the demand for skin care applications during the forecast period.
By geography, cosmetic ingredients find its market scope in North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In the years to come, North America and Europe are expected to dominate the market. The Asia Pacific is expected to be the most promising region in the terms of incremental opportunities to generate high revenue. The rapid growth of urbanization coupled with growing demand for skin care in countries like India, China and ASEAN are expected to fuel the market growth in the coming years.
The report also includes detailed profiles of key players such as Akzo Nobel N.V., Ashland Inc., BASF SE, Croda International Plc, Clariant AG, Evonik Industries AG, Innospec Inc., Lonza Group, Solvay SA, and The Dow Chemical Co. The detailed description of players includes parameters such as company overview, financial overview, business strategies and recent developments of the company.
Increasing demand for personal care products, rising use of makeup products and increasing disposable income are some major trends that guide cosmetic ingredients market growth.
According to the Market Research report, the global cosmetic ingredients market was worth about US$ 19,251.7 million in 2021 and is predicted to grow to around US$ 24079.8 million by 2028, with a compound annual growth rate (CAGR) of around 3.8 percent.
Europe region leads the global cosmetic ingredients market in terms of revenue and volume share and is anticipated to maintain this stance through 2028. The cosmetic ingredients market in this region is expected to be driven by presence of key cosmetic ingredients companies.