New York, US, June 28, 2021 (GLOBE NEWSWIRE) -- Cosmetic Antioxidants Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Cosmetic Antioxidants Market Information by Source, Type, Application, and Region - Forecast till 2028”, the market is projected to reach USD 212 Million by 2028 at 6% CAGR.
Market Scope:
Cosmetic antioxidants are essential components in cosmetic formulations that help boost the shelf life of the products while also protecting human cells from various kinds of damages. These antioxidants are used extensively in various anti-inflammatory, anti-aging, moisturizing, hair conditioning and UV protection products. Vitamin E, vitamin A, butylated hydroxyanisole (BHA) and butylated hydroxytoluene (BHT) are some of the top cosmetic antioxidants that witness a huge demand worldwide.
Top Drivers:
Extensive applications of cosmetic antioxidants in haircare and skincare sectors have fostered the market demand in recent years. These are largely used in the cosmetic industry to enhance the appeal and characteristics of cosmetics to protect against toxic air pollutants. Cosmetic antioxidants are witnessing increasing demand among sportspersons for protection against harmful UV rays. These products are applied on skin since these form a protection shield while also addressing a series of different skin issues. Demand is also escalating in the entertainment industry, for protection of the skin against toxic air pollutants that lead to early aging, pigmentation, wrinkles, and acne.
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Market Restraints:
High-cost manufacturing processes can be unfavorable for the global market for cosmetic antioxidants.
Cosmetic Antioxidants Market Competitive Landscape:
Some of the key players in the Global Cosmetic Antioxidants Market are:
- BASF SE
- Koninklijke DSM NV
- Wacker Chemie AG
- Eastman Chemical Company
- Lonza Group
- Croda International Plc
- Ashland Global Holdings
- Evonik Industries AG
- Kemin Industries, Inc.
- Barentz International BV
The market has a number of start-ups that offer innovative products, while new players are constantly entering the industry. The cosmetic antioxidants sector offers a high revenue scope as well as opportunities to small scale manufacturers to develop advanced and cost-effective items. On the other hand, most of the established companies are involved in acquisitions, mergers, agreements and more to further enhance their profit margins.
Browse In-depth Market Research Report (449 Pages) on Cosmetic Antioxidants: https://www.marketresearchfuture.com/reports/cosmetic-antioxidants-market-9824
COVID 19 Analysis
The impact of COVID-19 has been debilitating on the cosmetic market, given the lockdown as well as the decline in consumer demand. Consumer buying behavior has changed post pandemic as they are stuck at home and are no longer invested in haircare and makeup. As a result, majority of the cosmetic vendors are focused on using ingredients that are resilient and most of the innovations are now revolving around organic and natural sources.
Speaking of consumer purchasing patterns, there has been a considerable shift from offline channels to online sites. In the post-COVID-19 era, consumers hesitate to visit stores or spas and are therefore, opting for online shopping. Sensing the opportunity, several retailers are adding online features to provide an in-store customer experience. Some of these features are augmented reality, interactive product-matching tools, virtual consultations, and online quizzes.
Cosmetic Antioxidants Devices Market Segmentation
The global cosmetic antioxidants industry can be considered for source and type.
Synthetic and natural are the sources profiled in the MRFR report. The demand for natural sources of cosmetic antioxidants is quite robust and as a result, the segment can procure the highest CAGR during the given period. Natural products are derived completely from natural sources that include green tea, rosemary extracts, turmeric, and more. Therefore, natural items are witnessing demand much higher than synthetic products. However, at present, the higher share in the market belongs to the synthetic segment.
Types of cosmetic antioxidants are Carotenoids, Vitamins, Enzymes, Polyphenols, and more.
Applications are Hair Care, Makeup Skin Care, and others.
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Cosmetic Antioxidants Market Regional Insights
Asia Pacific is the biggest market for cosmetic antioxidants and is also slated to capture the fastest growth rate between 2019 and 2028. The demand for cosmetic antioxidants is significantly high in the region as a result of the expanding personal care and cosmetic industry. China is identified as one of the leading consumers and producers of cosmetic items, while other countries like Korea, India, Thailand, and Singapore show notable growth potential as well. The preference for high-quality premium cosmetic products has risen considerably among consumers, in line with the growing pollution level as well as climate effects on hair and skin. This factor has particularly bolstered the need for antioxidants and has proved to be favorable for the regional market.
Europe has been emerging as a lucrative market, thanks to the robust demand for cosmetic antioxidants in the thriving cosmetic sector. Surging consumer preference for organic and natural products along with the solid foothold of the reputed manufacturers in the region also add to the market value. High adoption of the latest manufacturing technologies and the frequently conducted research and development activities in several countries across Europe should enhance the market demand in the following years.
North America should record noteworthy growth in the next couple of years, largely due to the expanding elderly population as well as the surging consumer awareness regarding self-care. Mounting awareness with regard to hair and skin protection among the mass in the United States and the escalating use of cosmetic antioxidants by celebrities and sportspersons also elevate the market position in the region.
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