Austin, Jan. 14, 2025 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The Active Ingredients Market Size was valued at USD 3.9 billion in 2023 and is expected to reach USD 6.2 billion by 2032 and grow at a CAGR of 5.4% over the forecast period 2024-2032.”
Active Ingredients Market Driven by Innovation, Sustainability, and Strategic Collaborations Across Pharmaceutical, Cosmetic, and Agricultural Sectors
The Active Ingredients Market is experiencing growth driven by advancements in pharmaceuticals, cosmetics, and agriculture, with companies focusing on innovation to meet evolving demands. Key drivers include the increasing preference for natural, sustainable ingredients and technological advancements. In November 2024, Dhanuka Agritech partnered with Bayer AG to acquire crop protection ingredients, and the FDA proposed removing oral phenylephrine from the OTC monograph, which could reshape the pharmaceutical market. India's reliance on imported pharmaceutical ingredients is expected to decrease significantly due to local production initiatives. Companies like Evonik are also expanding, with the launch of the Evonik Skin Institute in March 2024 to advance cosmetic ingredient research and further strengthen their active business by September 2024. Adama's December 2024 milestone with the Gilboa ingredient highlights the focus on sustainability and innovation in the sector, reflecting a dynamic market environment driven by technological and regulatory changes.
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Key Players:
- AkzoNobel N.V. (Ampholak, Armeen)
- Ashland (Captivates, Natrosol)
- BASF SE (Irganox, Uvinul)
- Clariant (Genapol, Aristoflex)
- Croda International Plc (Crodarom, Crodamol)
- Dow Inc. (Carbopol, DOWSIL)
- DuPont (Delrin, Tyvek)
- Eastman Chemical Company (Aminox, Tamisolve)
- Evonik Industries AG (Tegosoft, Aerosil)
- FMC Corporation (Talstar, Capture)
- Givaudan (Vetivyne, Yogurtene)
- International Flavors & Fragrances Inc. (IFF) (RonaCare, Neutrazen)
- Johnson Matthey (Methoxo-catalysts, PGMs)
- Lanxess AG (Preventol, Bayferrox)
- Lonza (Geogard, Proxel)
- Merck KGaA (RonaFlair, Eusolex)
- Royal DSM (Panthenol, All-Q)
- Solvay (Rhodoline, Mackam)
- Sumitomo Corporation (Valent products, Kenja)
- Symrise AG (SymSave, SymRepair)
Active Ingredients Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 3.9 Billion |
| Market Size by 2032 | USD 6.2 Billion |
| CAGR | CAGR of 5.4% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Source (Plant-Based, Animal-Based, Microbial-Based) • By Type (Natural, Synthetic) • By Form (Solid, Liquid, Gas) • By Functionality (Conditioning Agents, Anti-ageing Agents, Skin-lightening Agents, UV Filters) • By Application (Pharmaceuticals, Cosmetics & Personal Care, Food & Beverages, Agricultural Chemicals, Others) |
| Key Drivers | • Increasing Health and Wellness Trends Drive Growth in Active Ingredients for Dietary Supplements and Functional Foods • Government Regulations and Standards Encourage the Adoption of Safe and Effective Active Ingredients in Consumer Products |
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Plant-Based Active Ingredients Lead the Market with 45% Share, Driven by Demand for Sustainable and Eco-Friendly Products
In 2023, plant-based active ingredients dominated the market, comprising 45% of the share, driven by growing consumer demand for eco-friendly, sustainable, and ethical products. Companies like BASF and Croda are heavily investing in plant-based ingredients, which offer moisturizing, anti-aging, and antioxidant properties while aligning with environmental and biodiversity concerns.
Natural Active Ingredients Capture 60% of Market Share, Reflecting Growing Consumer Preference for Safe, Chemical-Free Solutions
Natural active ingredients led the market in 2023, capturing 60% of the share, fueled by increasing consumer preference for products free from harmful chemicals. Major players like Evonik and Ashland are focusing on natural ingredients derived from plants and minerals, catering to health-conscious consumers seeking clean-label and safe options in cosmetics, pharmaceuticals, and food.
Cosmetics and Personal Care Applications Lead with 50% Market Share, Fueling Growth in Beauty and Wellness Product Demand
Cosmetics and personal care products represented the largest application segment in 2023, holding a 50% share, fueled by consumer interest in beauty and wellness. Active ingredients in skincare and haircare address concerns like aging, pigmentation, and nourishment, with companies like L'Oréal and Johnson & Johnson focusing on safe, sustainable formulations.
Regional Analysis
North America dominated the Active Ingredients Market with 35% Share, Driven by Strong Pharmaceutical and Cosmetics Industries
North America dominated and accounted for the largest share of 35% in the Active Ingredients Market in 2023, attributed to well-established pharmaceutical and cosmetics sectors. The U.S. played a significant role, with its booming skincare market valued at $16 billion, where active ingredients are pivotal in formulations. Companies like BASF, Evonik, and Dow focus on innovative active ingredients, responding to the demand for clean and effective products. Stringent regulations and heightened safety awareness further boost the need for quality ingredients. The region benefits from strong distribution networks and retail presence, strengthening its leadership in the market.
Asia-Pacific Experiences Fastest Growth Active Ingredients Market with 8% CAGR, Led by Cosmetics and Skincare Demand
Asia-Pacific emerged as the fastest-growing region for active ingredients in 2023, expanding at a CAGR of 8%. The cosmetics and personal care market, especially in countries like China and India, is a key driver, with China’s market reaching over $65 billion in 2023. Growing middle-class populations and rising demand for high-quality skincare products fuel this growth. Companies like Unilever and L'Oréal are investing in R&D to cater to local preferences, while India’s herbal cosmetics market is experiencing a surge. The increasing use of e-commerce has further expanded access to active ingredient-based products, further accelerating market expansion in the region.
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Recent Developments
- November 2024: Dhanuka Agritech signed an agreement with Bayer to acquire crop protection active ingredients, strengthening its position in the agricultural sector.
- July 2023: Evonik acquired Novachem, a leading Argentine company specializing in sustainable and innovative cosmetic active ingredients, to enhance its System Solutions portfolio.
The Active Ingredients Market is expanding rapidly, led by North America with a 35% share and driven by consumer demand for natural ingredients and technological advancements. Asia-Pacific is the fastest-growing region, particularly in China and India, due to increasing demand for high-quality personal care products. Companies are investing in R&D to meet the preference for clean and effective solutions, further fueling market growth.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Active Ingredients Market Segmentation, By Source
8. Active Ingredients Market Segmentation, By Type
9. Active Ingredients Market Segmentation, By Form
10. Active Ingredients Market Segmentation, By Functionality
11. Active Ingredients Market Segmentation, By Application
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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