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Cosmetic Chemicals Market
A new research document is added in HTF MI database of 148 pages, titled as ‘Cosmetic Chemicals Market: Current Analysis and Forecast (2022-2028)’ with detailed analysis, Competitive landscape, forecast and strategies. Latest analysis highlights high growth emerging players and leaders by market share that are currently attracting exceptional attention. The market Study is segmented by key a region that is accelerating the marketization. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones.
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The Cosmetic Chemicals market is expected to register a CAGR of around 7% over the forecast period (2022-2028). Increasing beauty consciousness and health awareness are prime factors boosting the market for cosmetics products. In addition, demand for organic grade cosmetic chemicals is being driven by the growing adoption and penetration of natural and organics cosmetic products along with the consumer readiness to pay more for premium goods. The industry is categorized by continuous research and development activities related to product innovation. Market players are focused on obtaining sustainable formulations made from natural ingredients that are free of artificial additives. For instance, in June 2022, BASF SE launched Verdessence Rice Touch. It is perfectly suited for various fields of natural and organic cosmetics including face and body care, hair care and body cleansing, color cosmetics and sun care while reducing greasiness of formulations.
Some of the major players operating in the market include Cargill Inc., BASF SE, Stepan Company, Evonik Industries AG, Ashland Inc., Croda International Plc, Bayer AG, Clariant International Limited, Dow Inc., and Solvay SA.
During the COVID-19 pandemic, there was a negative impact on the cosmetic chemicals market due to the implementation of lockdowns and social distancing measures in several countries across the world. As a result, people stopped moving outdoors except in the cases of necessity, which led to a decline in the customer spending on non-essential products, such as cosmetics, thus leading to a reduction in the demand for cosmetic chemicals.
Insights Presented in the Report
“Amongst product type, emollients & moisturizers to hold prominent share during the forecast period”
Based on product type, the market is segmented into surfactants, emollients & moisturizers, film-formers, colorants & pigments, preservatives, emulsifying & thickening agents, single-use additives, and others. In 2020, emollients & moisturizers held significant market share. This is mainly due to rising awareness about personal grooming and rapidly changing lifestyles are further enhancing the emollients market worldwide. Basically, these are non-cosmetic moisturizers that are readily available in the form of gels, ointments, lotions, and creams. Furthermore, emollients are often used to help manage dry, itchy, or scaly skin conditions such as eczema, psoriasis, and ichthyosis. Thus, the increasing prevalence of skin conditions like eczema and psoriasis is resulting in the high demand for the related treatments and cosmetics. According to the National Psoriasis Foundation, 125 million people across the world were reported to have psoriasis, as of 2020, which is significantly higher com pared to the disease prevalence reported in the year 2016, which was approximately 100 million.
“Amongst application, in 2020, skin care segment accounted for majority share in the market”
Based on the application, the market is categorized into skin care, hair care, makeup, oral care, fragrances, and others. In 2020, skin care segment accounted for majority share in the market. Escalating demand for face creams, sunscreens, and body lotions across the globe is expected to have a positive impact on the market growth over the forecast period. In addition, growing consumer awareness of natural cosmetics and the desire of cosmetics companies to replace synthetic ingredients with natural variants are the main drivers of this growth. Thus, major Cosmetic Chemicals manufacturer are launching new and advanced organic raw materials for skin care products.
“APAC is expected to witness highest growth in the market”
During the forecast period, APAC is expected to witness highest growth owing to the rising adoption and use of luxury and premium personal care cosmetics. In addition, major mass cosmetics manufacturers like The Proctor & Gamble Co., L’Oréal SA, Unilever plc, and Natura & Co, among others are rapidly increasing market penetration in emerging economies of the region. Thus, creating demand for Cosmetic Chemicals. Furthermore, Cosmetic Chemicals market in the region is further expected to witness growth due to the demand for organic and personal care Beauty and cosmetic products that are free from chemicals and transparent about the content have been preferred by consumers, which is likely to drive the demand for natural skin care products. Moreover, growing celebrity involvement in the promotion of sustainable beauty products is expected to resonate well with young consumers.
Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.
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