Bio-Based Cosmetics Market Size Worth USD 8.86 Billion in 2032 | Emergen Research

Vancouver, Dec. 20, 2023 (GLOBE NEWSWIRE) -- The global bio-based cosmetics market size was USD 4.95 Billion in 2022 and is expected to register a revenue CAGR of 6.0% during the forecast period, according to the latest analysis by Emergen Research. Rising consumer interests for natural or organic ingredients for cosmetics, increasing research & development activities for formulation of natural cosmetics, and growing market trend for probiotic-based skin care products are some of the major factors driving revenue growth of the bio-based cosmetics market.

In an industry that is increasingly concerned with protecting skin from pollution and protecting environment, vitamins, plant extracts such as Aloe, peptides with a vegetable origin, and essential oils are the major bio-based components for the future of the cosmetic sector. Government support and expedited product approval for biocosmetics are fostering beneficial circumstances for large businesses including The Estée Lauder Companies, Inc. (USA), LOréal SA, Bare Essentials, Inc., Nature's Gate, Aubrey Organics, Inc., and FANCL Corp.

Biocosmetic goods can be sold across the globe if they hold standard organic certification marks from organizations such as Ecocert, Cosmébio, NaTrue, United States Department of Agriculture (USDA) Organic, BDIH, and Soil Association. One of the major factors that impact revenue growth of the market is rising spending by major personal care and cosmetic companies on the research and development of organic skincare ingredients and formulations.

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The development of novel bio-based polymers and ingredients for cosmetic and personal care products by large cosmetic and biotechnology-based companies is driving revenue growth of the market. For instance, on June 30, 2022, BASF Care Creations released Verdessence RiceTouch, a revolutionary biopolymer, to the global market. This plant-based sensory powder is ideal for matte-finish cosmetics because of its tiny particle size, which gives skin a powdery, smooth, and light sensation.

Probiotic-based skin care products are a major industry trend that is considerably supporting the market revenue growth. Fermented substances are increasingly widely used in skincare industry as a result of development of biotechnologies, opening up new potential for the cosmetics industry. Although some niche brands have been selling fermented-component cosmetics for some time now, the larger players in the market are now starting to progressively adapt to meet shifting consumer expectations.

One of the major challenges restraining revenue growth of the market is high cost of organic or natural formulations for cosmetics. The cost of organic certification, higher labor costs, and the price of companion planting for pest management are additional expenses for the manufacturer. Organic farmers just suffer higher costs than conventional farmers, which are passed on to consumers. In addition, a lot of organic products are produced in tiny batches, which raises the price for the consumer.

Although labor- and time-intensive, these methods are sustainable, but they are more expensive than machine production. The cost of formulation for organic and natural cosmetic products is higher because they use more ingredients that are good for skin, are primarily pure concentrated oils, and use non-toxic formulas made from carefully selected ingredients to produce better results than cheaply made drugstore products, which is expected to restrain revenue growth of the market.

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Scope of Research

Major Companies and Competitive Landscape

The global bio-based cosmetics market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective bio-based cosmetics solutions.
Some major players included in the global bio-based cosmetics market report are:

• L’Oréal Paris
• Evonik
• Symrise
• Solvay.
• BASF
• The Estée Lauder Companies Inc.
• Natura Siberica Cosmetics
• WELEDA
• Unilever
• LVMH Beauty

Strategic Development

• On 21 June 2023, Solvay, a global pioneer in sustainably derived polymers for beauty care formulations, announced the introduction of Naternal, its new brand for eco-design hair and skin care solutions. Biodegradable beauty care polymers from guar and other natural feedstocks are combined by Naternal. The variety of components that Naternal offers is in line with the biodegradable by-design methodology, which attempts to incorporate end-of-life management at the outset of research and make sure that product creation is influenced by both application and end-of-life performances.
• On 8 March 2023, IFF announced the launch of Aurist AGC, a biodegradable, cationic biopolymer for better hair conditioning in hair care products. The Designed Enzymatic Biopolymers (DEB) technology, which employs biotechnology to produce a class of biobased polysaccharides with distinctive architectures and product properties, makes it possible to use Aurist AGC. According to IFF, the DEB process uses less energy overall because it runs at room temperature and pressure without the need for harsh solvents.

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Some Key Highlights from the Report

• The plants segment accounted for largest revenue share in 2022. Since consumers have become more aware of the long-term health advantages of natural substances, the consumption of plant-based cosmetics has grown dramatically on a global scale. The primary advantages of plant extracts used in cosmetic products include tyrosinase inhibition, antioxidant, and antibacterial properties. In addition to providing the nutrients for healthy skin, utilization of bioactive extracts or phytochemicals from a variety of botanicals in cosmetics serves two purposes which include body care and influencing the biological functions of skin. As a result, major companies are developing and launching plant-based cosmetics, which is driving revenue growth of this segment. For instance, on 19 April 2023, Botalys, a Belgian start-up that specializes in cultivation of rare and therapeutic plants, and Seppic announced their collaboration for co-development of novel ingredients and distribution agreements in various markets and regions for Botalys' ginseng-based products. These components and medicinal plants are provided by the business to several customers and partners in cosmetics, nutritional supplement, and pharmaceutical sectors, which contributes to revenue growth of this segment.
• The conditioning polymer segment is expected to register a steady revenue CAGR during the forecast period. Nature-based conditioning polymers allow formulators to make exceptional hair care products that go above and beyond expectations of consumers from clean beauty products. Hair care formulators are constantly looking for new ways to address challenges that customers encounter when choosing a hair care product, particularly in relation to the clean beauty movement. Formulators use cutting-edge components from companies such as Solvay for clean beauty treatments that need efficient conditioning substitutes for polyquaternium polymers. For instance, Jaguar® Optima by Solvay is a bio-based hair conditioning polymer that takes place of Polyquaternium-10 and has greater performance qualities as well as components that are renewable and naturally generated.  Furthermore, Rheozan® SH is a multipurpose thickening polymer that is 100% natural, validated by COSMOS/ECOCERT, and provides exceptional sensory characteristics and stability in naturally produced hair care products. These are major factors contributing to revenue growth of this segment.

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Emergen Research has segmented global bio-based cosmetics market on the basis of product type, source, application, distribution channel, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)

• • Emollients
  • Conditioning Polymers
  • Surfactants
  • Emulsifiers
  • Antimicrobials
  • Rheology Control
  • Others

• Source Outlook (Revenue, USD Billion; 2019-2032)

• • Plants
  • Biopolymers
  • Microbes
  • Others

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Make up Lotions
  • Body Creams
  • Cleansers & Face Wash
  • Sunscreen
  • Hair care products
  • Others

• Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)

• • Online
  • Offline

• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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