Press release
Cosmetic Chemicals Market was valued at USD 20 billion and is expected to grow at a CAGR of around 7% from 2022-2028
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The Cosmetic Chemicals market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Cosmetic Chemicals market. The Cosmetic Chemicals market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Cosmetic Chemicals market at the global and regional levels.
Market Overview
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 RiceTouch. 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.
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COVID-19 Impact
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. The global cosmetic chemicals market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
• 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 compared to the disease prevalence reported in the year 2016, which was approximately 100 million.
• On the basis of 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.
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Cosmetic Chemicals Market Geographical Segmentation Includes:
• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World
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 S.A., 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 products. 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.
The major players targeting the market include
• Cargill Inc.
• BASF SE
• Stepan Company
• Evonik Industries AG
• Ashland Inc.
• Croda International Plc
• Bayer AG
• Clariant International Limited
• Dow Inc.
• Solvay SA
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Cosmetic Chemicals market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Cosmetic Chemicals market?
• Which factors are influencing the Cosmetic Chemicals market over the forecast period?
• What are the global challenges, threats, and risks in the Cosmetic Chemicals market?
• Which factors are propelling and restraining the Cosmetic Chemicals market?
• What are the demanding global regions of the Cosmetic Chemicals market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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