NEWARK, Del, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The net revenue earned by functional cosmetic ingredient market producers was nearly US$ 3,409.5 million in 2023. The global demand for functional cosmetic ingredients is expected to increase at a CAGR of 5.7% from 2024 to 2034. By following this promising growth rate, the overall market value is predicted to rise from US$ 3,580 million in 2024 to US$ 6,232.1 million by 2034.
Customers looking for solutions to treat a variety of skin conditions like moisturizing, anti-aging, brightening, and soothing qualities are expected to raise the demand for functional cosmetic ingredients. Anti-aging functional cosmetic components are also in great demand as older customers are seeking more cosmetic products like antioxidants, retinoids, and peptides to keep their skin young.
Request a Sample Report and Explore New Growth Opportunities Now!
https://www.futuremarketinsights.com/reports/sample/rep-gb-18735
“The ongoing promotion of functional cosmetic ingredients by influencers is expected to create buzz and increase the visibility of functional cosmetic products. Modern consumers, especially in younger age groups, are more likely to try products recommended by influencers they trust, contributing to the rapid growth of the next-gen skincare components sector,” says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights
Key Takeaways from the Global Functional Cosmetic Ingredient Market Study Report:
- The United States currently holds a sizable share of the global market and is expected to advance further at a 4% CAGR through 2034.
- China is aiming to capture the global cosmetic market by increasing its production of functional cosmetic ingredients at a CAGR of 5.8% till 2034.
- Throughout the projection period, India is anticipated to increase at a 7.6% CAGR through 2034 due to its rapidly expanding cosmetics and beauty care sector.
- Australia is an emerging market for functional skincare products, which is poised to develop at a 6.6% CAGR through 2034.
Request the Full Report Methodology Now! https://www.futuremarketinsights.com/request-report-methodology/rep-gb-18735
Competitive Landscape in the Functional Cosmetic Ingredient Market
Though the cosmetics industry is quite diverse and competitive, the supply of functional active ingredients used in its making is concentrated within a relatively small market. However, the growing demand for functional cosmetic products in recent years is anticipated to encourage the emergence of new market players, gradually intensifying the competition.
Key Players Profiled in the Functional Cosmetic Ingredient Market Report
- BASF SE
- Dow Inc.
- Croda International Plc
- Ashland Global Holdings Inc.
- Clariant International Ltd.
- Evonik Industries AG
- Givaudan SA
- Lonza Group Ltd.
- DSM Nutritional Products AG
- Solvay SA
- Lubrizol Corporation
- Innospec Inc.
- Eastman Chemical Company
- Wacker Chemie AG
- Seppic SA
Recent Developments by the Functional Cosmetic Ingredient Market Players
- In November 2022, the Rootness Awake product line by Clariant won Gold in the Environment and Actives categories of the BSB Innovation Awards, a prestigious European accolade with a 20-year history. Rootness Awake is an innovative and powerful active ingredient that combats eye bags and under-eye circles, making it a very desirable ingredient in anti-aging products.
- In March 2023, Global Bioenergies announced the debut of its cosmetic component, Isonaturane® 16, during the 2023 In-Cosmetics Global Trade Exhibition in Barcelona. It is the second cosmetic component developed by the firm a year after releasing Isonaturane® 12 at In-Cosmetics Paris. In accordance with ISO 16128, the company sells this new naturally derived substance, which is made solely in France and under the brand name Isonaturane® 16.
Elevate Your Business Strategy! Purchase the Report for Market-Driven Insights: https://www.futuremarketinsights.com/checkout/18735
Key Segments Covered by Functional Cosmetic Ingredient Industry Survey Report
By Ingredient:
- Emollients and Moisturizers
- Antioxidants
- Sunscreen Agents
- Anti-Aging Agents
- Whitening Agents
- Anti-Inflammatory Agents
- Peptides and Proteins
- Botanical Extracts
- Vitamins and Minerals
- Other Ingredients
By Application:
- Skin care product
- Hair care products
- Oral care products
- Makeup products
- Other Applications
By Functionality:
- Moisturizing and Hydrating
- Anti-Aging and Wrinkle Reduction
- Sun Protection
- Skin Brightening and Whitening
- Acne Treatment and Oil Control
- Hair Repair and Nourishment
- Color Enhancement and Pigmentation
- Dental Health and Whitening
- Other Functionalities
By Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- Middle East and Africa (MEA) Market
Authored by:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
Explore FMI’s Extensive Ongoing Coverage on Consumer Product Domain:
- The global skincare oil market is expected to capture a CAGR of 6.3% during the forecast period due to increasing demand for face oil that can soften wrinkles and acne scars. The market value is projected to increase from US$ 19.91 billion in 2024 to US$ 34.56 billion by 2034.
- The market for beauty and wellness is estimated to be valued at US$ 16,95,661.4 million in 2024. In 2023, the market size was US$ 15,95,165.9 million. The market is expected to progress at a CAGR of 8.1% from 2024 to 2034. The beauty and wellness market is anticipated to reach US$ 36,94,843.6 million by 2034.
- The K-beauty product market is estimated to be valued at US$ 10,875.7 million in 2024 and is expected to rise to US$ 19,293.7 million by 2034. The global K-beauty product market is expected to grow at a CAGR of 5.90% over the forecast period.
- The J-beauty product size is estimated to be US$ 34,468 million in 2024. The market is estimated to surpass US$ 52,512 million by 2034. Market analysis suggests that demand for personal care products drives the trend of Asian beauty products.
- The global senior care product market is expected to rise at a CAGR of 6.6% through 2034. The market value is projected to increase from US$ 29,600.2 million in 2024 to US$ 56,394.8 million by 2034. With an increased emphasis on health and wellness, seniors actively seek products that contribute to their overall well-being.
About Future Market Insights, Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
