Global Cosmetic Ingredients Market Share Likely to Grow at a CAGR of 5.9% By 2030

Posted on March 7, 2023

According to Custom Market Insights (CMI), The Global Cosmetic Ingredients Market is expected to grow at a compound annual growth rate of 5.9% from the year 2022 till the year 2030. The cosmetic ingredients market will be USD 10.3 billion in 2022, and it is expected to reach USD 14.6 billion by 2030.

Globalization has played an extremely important role in the growth of the cosmetic ingredients market. Cosmetic ingredients suppliers are constantly evolving to meet the demands of consumers. The use of smartphones and the availability of the Internet has increased the sales of cosmetic products through online or eCommerce platforms, which is the most cost-effective way of delivering various products to consumers’ doorsteps.

Browse the full “Cosmetic Ingredients Market Size, Trends and Insights By Source (Synthetic ingredients, Natural ingredients), By Ingredient (Surfactants, Emollients, UV absorbers, Antimicrobials, Emulsify are, Conditioning polymers, Hair fixative polymers, Realogy control agents, Others), By Application (Skin care, Hair care, Makeup, Fragrances, Toiletries, Oral care), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at ReportURL.

Market Dynamics

Drivers

The cosmetic ingredients market is expected to grow in the coming years as there has been an increased awareness of clean labels in cosmetic products. The demand for clean labels has led to green automatics or environment-friendly products. Research and development activities in this field have provided environmentally friendly ingredients that can meet the demands of consumers who prefer such products.

The demand for organic raw materials or ingredients has also increased in the market, especially in Asia. The demand for such products in various nations of the Asia Pacific region will help grow the cosmetic ingredients market in the coming years. As cosmetics provide an antioxidant effect, the demand for antioxidant-rich cosmetics is expected to grow in the coming years.

Restraints

Many side effects are associated with cosmetics that use chemicals for their production. The prolonged use of such cosmetics for skin care or hair care will be harmful and cause allergies or even a few diseases. These are expected to be the factors that will hamper the growth of the cosmetic ingredients market in the coming years.

Opportunities

Herbal Automatics and natural cosmetics are in great demand in various regions across the globe. The elderly and the young generation are seeking these products due to increased awareness about the benefits provided by the products. These products have no side effects, due to which the cosmetic ingredients manufacturers will manufacture such ingredients for the cosmetics.

Cosmetic products that are manufactured using petrochemicals lead to an increased amount of carbon emissions. Due to this, the demand for eco-friendly products that use similar ingredients will grow in the coming years. The demand for biobased cosmetics has grown in recent years to reduce carbon footprints. Many innovative products are offered in the market for the production of biodegradable cosmetics, and this will provide good opportunities for growth in the coming years.

Challenges

The governments of various nations have regulatory bodies that help ensure that the labeling is done properly. These organizations also ensure the safety of these products. The use of unregistered ingredients is not allowed at all in cosmetics manufacturing in a few regions.

This will be a challenge to the growth of the market in the coming years. The stringent regulatory policies will hamper the introduction of new products. Increased product recall cases will also be a major challenge in the market’s growth in the coming year.

Report Highlights

The synthetic ingredients segment is expected to grow well in the coming years as synthetic ingredients are used on a large scale in manufacturing various cosmetics. As there has been an increase in the need for skincare products, the demand for synthetic ingredients will increase in the coming years. The consumption of cosmetic products has increased in developing nations across the globe.

Most cosmetics or purchased for skin care. This segment had a market share of about 33.6% in the past. As different types of products that provide UV protection, fairness, and moisturization are offered in the skincare range, and the demand for these products is high, the market is expected to grow well in the coming years.

Based on the type of Ingredient used in cosmetics manufacturing, the surfactant segment is expected to have the largest market share in the coming years. This Ingredient is used in cosmetic products that have a surfactant base.

Regional Snapshots

The North American region is expected to have the largest market share in the coming year. This region has dominated the market in terms of revenue in the past with the highest market share, and it will continue to grow in the coming years. The demand for various cosmetics of different ranges, like skin care, hair care, toiletries, fragrances, etc., has grown greatly in this region.

The high disposable income is one of the factors that has increased the sales of these products in the North American region. Increased awareness about hygiene and self-care are two instrumental factors that have helped in the market’s growth in recent years. They shall be a good amount of growth in the European region. The growing demand for luxury products will be instrumental in increasing cosmetics sales in the European region. The demand for cosmetics is expected to grow in the Asia Pacific region.

Awareness of the ill effects of prolonged use of cosmetic products that use chemicals or harsh synthetic materials will drive market growth for natural cosmetics. Increasing demand for herbal products will provide better opportunities for the growth of the cosmetic ingredients market in the coming year. The raw materials used in cosmetics manufacturing will be of nature to meet the market’s demand.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 10.3 Billion
Projected Market Size in 2030 USD 14.6 Billion
CAGR Growth Rate 5.9% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players Ashland Global Holdings Inc., BASF SE., Clariant International Ltd., Croda International PLC., Solvay SA, Givaudan SA, Koninklijke DSM NV., Eastman Chemical Co., Evonik Industries AG, Lonza Group Ltd., and Others
Key Segment By Source, Ingredient, Application, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfill your requirements for research.

Key Players 

  • Ashland Global Holdings Inc.
  • BASF SE.
  • Clariant International Ltd.
  • Croda International PLC.
  • Solvay SA
  • Givaudan SA
  • Koninklijke DSM NV.
  • Eastman Chemical Co.
  • Evonik Industries AG
  • Lonza Group Ltd.

Recent Developments

  • Isobionics Entered into a partnership with BASF SE in 2020 to launch a product named IsobionicsSantanol. Renewable sources are used in manufacturing this product and will be an alternative to sandalwood oil.
  • BTC Europe Entered into a partnership with BASF SE in the year 2020 as a distribution partner to enhance the efficiency of the supply chain of its products.

Segments covered in the report

By Source

  • Synthetic ingredients
  • Natural ingredients

By Ingredient

  • Surfactants
  • Emollients
  • UV absorbers
  • Antimicrobials
  • Emulsify are
  • Conditioning polymers
  • Hair fixative polymers
  • Realogy control agents
  • Others

By Application

  • Skincare
  • Hair care
  • Makeup
  • Fragrances
  • Toiletries
  • Oral care

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

 

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