ingredients such as preservatives, emulsifiers, thickeners and surfactants have
rich anti-oxidant and anti-inflammatory properties owing to which they perform
necessary functions such as cleansing, moisturizing and bleaching. Growing
disposable income coupled with rapid urbanization has increased the
consciousness of physical appearance, which has increased the demand for
effective skincare cosmetics and increased their consumption. For instance,
according to the annual reports of Unilever, in the first half of 2022, the sales
of beauty & personal care products of the company increased by 7.5% in
comparison to 2021’s first half. Furthermore, according to the quarterly
reports of Proctor & Gamble, in Q3 of 2022, the company’s beauty care segment’s
sales increased by 3% in comparison to Q3 of 2021. Such growing consumption of
skincare cosmetics will increase their production scale, thereby having a simultaneous
increase in the usage of cosmetic ingredients which will further boost the
demand for such ingredients and drive their market growth. The Cosmetic Ingredients Market size is expected to grow at a
CAGR of 4.1% during the forecast period 2022-2027 and will reach an estimated
revenue of US$23.6 billion by 2027.
Cosmetic Ingredients Market: Leading Segment is the Skin Care
Based on the end-use industry the Cosmetic Ingredients market can be segmented into skin care, body care, oral care and hair care. The cosmetic ingredients market’s leading segment is evaluated to be skincare and during the forecast period 2022-2027, the skin care segment is expected to grow at a CAGR of 4.6%. Major factors such as new product launches of skin care products coupled with the growing desire for health-promoting and self-care products are driving the growth of the skincare segment. For instance, Sun-care brand Dune, in June 2022, introduced the facial sunscreen product Mug Guard which provides improved face lines and improve discoloration. Furthermore, Mamaearth, in May 2022, announced the launch of its Glow Serum Foundation which consists of vitamin C and turmeric provide dewy and flawless skin. Such product launches will expand the consumption scale of skincare cosmetics, thereby increasing their production and as well as usage of cosmetic ingredients in them.
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Cosmetic Ingredients Market: Leading Segment is the Asia-Pacific
Based on geography the Cosmetic Ingredients market can be segmented into North America, South America, Europe, APAC and the Rest of the World. The Asia-Pacific region emerged as the most profitable region in the market and held a 40% share of the total revenue earned by the market globally. The region is a hub of major cosmetic companies such as Shiseido and consists of a large consumer base for skincare cosmetics in countries like China, Japan and India where the consumer lifestyle has improved tremendously, thereby increasing the consumption of cosmetics. For instance, according to the annual report of Shiseido, in 2021, the company’s cosmetics sales stood t US$363 million in China, showing a 16.5% increase in the sales rate of the company in the country. Furthermore, according to the financial report of L'Oréal, in 2021, North Asia with 35.1% held the largest share of cosmetic consumption of the company. The growing consumption of cosmetics in Asia-Pacific will boost the usage of cosmetic ingredients for bleaching and moisturizing functions, thereby driving their market growth in the region.
Cosmetic Ingredients Market: Competitive Landscape
Key companies holding a major share in the Cosmetic Ingredients market are Clariant AG, Solvay S.A, Croda International PLC, BASF SE, Dow Chemical Company, Eastman Chemical Company, Estee lauder Company, Ashland Global Specialty Chemicals, Lonza Group Ltd, Wacker Chemie AG.