WASHINGTON, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The Global Cosmetic Chemicals Market is valued at USD 20.8 Billion in 2021 and is projected to reach a value of USD 27.0 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 4.5% over the forecast period 2022-2028.
One of the most significant economic areas is the Cosmetic Chemicals business, and consistent expansion is projected. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses current trends and anticipated changes to provide a full insight into the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers and their current situation and future prospects. It also details the global drivers of the demand for Cosmetic Chemicals, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some key factors are anticipated to accelerate the Cosmetic Chemicals Market growth over the forecast period. One of the key elements influencing the cosmetic industry is the rising demand from ethnic communities for beauty products that are catered to their demands. In addition, it is anticipated that aging baby boomers will have a greater awareness of and desire for personal care products, raising demand for Cosmetic Chemicals.
We forecast that the preservatives category in Cosmetic Chemicals Market sales will account for more than 30% of total sales by 2028. Most cosmetic products contain preservatives, which are often included in the formulations to increase shelf life and stop the growth of bacteria and fungi.
North America dominates the market, and this trend of dominance will continue throughout the projection period. The production of organic personal care products in the area is a major driver of the need for Cosmetic Chemicals.
Top Players in the Global Cosmetic Chemicals Market
- Solvay S.A. (Belgium),
- Cargill Incorporated (US),
- The Dow Chemical Company (US),
- Croda International PLC (UK),
- BASF SE (Germany),
- P&G (US),
- Evonik Industries AG (Germany),
- Stepan Company (US),
- Symrise (Germany),
- Ashland Inc (US)
For Additional Information on Cosmetic Chemicals Market Players and Detail List, Download a Report PDF Brochure
Market Dynamics
Market Growth is Being Driven by Rising Demand for Cosmetics
Both men and women now have higher levels of demand for cosmetics. L'Oréal S.A. claims that despite an unprecedented supply crisis in 2020, the global cosmetics market is dynamic and experienced a notable recovery in the second half of the year, driven by the high consumer demand. Additionally, the cosmetics industry has been greatly boosted by the growing demand for high-quality beauty products, services, and grooming therapies, which has led to an expansion of the market for Cosmetic Chemicals.
The market will be Driven by Consumer Willingness to Spend on High-End Products
The demand for high-end cosmetics is increasing as people become more conscious of their appearance, greying hair, hair loss, and skin health. Increased personal disposable income in developing nations also helps with this. Additionally, the marketing and commercialization of high-end personal care, skincare, haircare, and beauty products by cosmetics manufacturers would increase spending, increasing the sales of Cosmetic Chemicals.
Top Trends in Global Cosmetic Chemicals Market
- One trend that Vantage Market Research (VMR) expects to see in the Cosmetic Chemicals industry is expanding R&D for new product development. People are searching for better alternatives to conventional cosmetic items now on the market as they become increasingly self-conscious about how they look. Consequently, a significant trend in the market for Cosmetic Chemicals has been recognized as the growth of R&D for product innovation.
- Another trend that VMR predicts will continue in the Cosmetic Chemicals industry is the growing popularity of organic products. Today's consumers are becoming more concerned with their health and want to know what's in the personal care products they buy. Such customers are drawn increasingly to businesses that offer vegan or cruelty-free options, use natural ingredients, and uphold ethical manufacturing standards.
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Why Purchase the Report?
- Identify commercial opportunities in cosmetic chemicals market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of cosmetic chemicals market - level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players.
Top Report Findings
- Based on Product Types, most of the Cosmetic Chemicals Market's revenue is controlled by the preservatives category. Preservatives for cosmetics are available in a range of formulations and concentrations. The number of preservatives used in formulations can range from 0.01% to 5.2%, depending on the needs of the product.
- Based on Applications, most of the Cosmetic Chemicals Market's revenue is controlled by the skincare category. This is explained by the rise in demand for skin care products as people's concerns about the health of their skin grow.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Cosmetic Chemicals Market Forecast Report (2022-2028).
Top 10 Players Generate More Than 45% of the Global Cosmetic Chemicals Market Revenue
The report also found that the largest players in the Cosmetic Chemicals Market are technology providers such as Solvay S.A. (Belgium), Cargill Incorporated (US), The Dow Chemical Company (US), Croda International PLC (UK), BASF SE (Germany). These companies are expected to benefit from increased demand for their products and services and growing investments in new products. Other major players include P&G (US), Evonik Industries AG (Germany), Stepan Company (US), Symrise (Germany), and Ashland Inc (US). The latest report published by Vantage Market Research shows that the top 10 companies generate more than 45% of market revenue.
Skin Care Category in Cosmetic Chemicals Market to Generate Over 30% Revenue
Cosmetic Chemicals are an expensive investment. Vantage Market Research has analyzed the market for Cosmetic Chemicals to understand its current state and potential future growth factors. For better understanding, based on the application, the Cosmetic Chemicals Market is divided into skin care, hair care, make-up, oral care, fragrances, and others (toiletries).
During the forecast period, the market for Cosmetic Chemicals is anticipated to experience the highest CAGR for the skin care category. This results from rising consumer demand for skin care products brought on by concerns over maintaining healthy skin. The global market for Cosmetic Chemicals is anticipated to benefit from the rising demand for face creams, sunscreens, and body lotions.
On the other hand, the hair care category is anticipated to grow significantly over the forecast period. The market for hair care products is primarily driven by rising consumer worries about hair loss and grey hair, as well as changing fashion industry hair styling trends.
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Global Cosmetic Chemicals Market Segmentation
By Product Type
- Surfactants
- Polymer Ingredients
- Colorants
- Preservatives
By Application
- Skin Care
- Hair Care
- Make-Up
- Oral Care
- Fragrances
- Others (Toiletries)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Regional Analysis
- North America dominates the global cosmetics market with a more than 40% share. North America will be the largest regional market and is expected to grow at a CAGR of 5.0% during the forecast period. This growth is attributed to the increasing popularity of cosmetic products among consumers in this region.
- Europe will be the second-largest regional market and is expected to grow at a CAGR of 7.2% during the same period. This growth is attributed to the increasing awareness of cosmetics among consumers in this region.
- Asia Pacific will be the fastest-growing regional market, with a CAGR of 9.5% during the forecast period, followed by Latin America. This is due to the increasing popularity of skin-care products in this region. The Middle East & Africa is expected to grow slower than the other regions.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 20.8 Billion |
| Revenue Forecast by 2028 | USD 27.0 Billion |
| CAGR | 4.5% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Solvay S.A., Cargill Incorporated, The Dow Chemical Company, Croda International PLC, BASF SE, P&G, Evonik Industries AG, Stepan Company, Symrise, Ashland Inc |
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The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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