Selbyville, Delaware,, April 24, 2023 (GLOBE NEWSWIRE) --
The cosmetic lipid ingredients market valuation is estimated to cross USD 19 billion by 2032, as reported in a research study by Global Market Insights Inc.
Increasing demand for men grooming products coupled with a positive outlook toward cosmetic and personal care products is a key driver behind industry growth. As per the U.S. Securities and Exchange Commission, men’s grooming products capture for nearly 8% of the total U.S. personal care and beauty products sales, which is likely to bolster cosmetic lipid ingredients market development.
Moreover, cosmetic lipid ingredients find huge applications in personal care products and cosmetics. In fact, the major ingredient in cosmetic emulsions, which account for bulk of personal care products are lipids. Lipids keep the skin hydrated and form a protective barrier in order to keep external particles at bay. Surging per capita disposable income in populous Asian economies such as South Korea, India, and China has increased the demand for cosmetics, creating a strong impetus for cosmetic lipid ingredients industry growth.
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Antioxidant properties of algae lipids to spur source segment expansion
Based on source, the algae segment is estimated to reach USD 5.5 billion by 2032, on account of their antioxidant and anti-inflammatory properties. In fact, algae lipids have the ability to counteract changes observed in skin inflammatory diseases. They are cheap to produce which makes them suitable for production in low-income economies. In addition, algae lipids can also be used as topical agents in the cosmeceutical industry.
Water retention characteristic of sphingolipids to fuel product demand
Based on product, the cosmetic lipid ingredients market from sphingolipids segment is set to grow at around 6.5% CAGR from 2023 to 2032. Sphingolipids such as ceramides are abundantly found on the skin and possess water retention property, which propels their adoption in cosmetic applications. Furthermore, sphingolipids have structural and biological functions in epidermis and help maintain the skin’s barrier function. They are also responsible for regulation of cellular processes such as differentiation, proliferation, and apoptosis of keratinocytes.
Emollient effects of cosmetic lipid ingredients to augment makeup application segment growth
Based on application, cosmetic lipid ingredients market size from the makeup segment is predicted to surpass USD 5.5 billion by 2032. The emollient and skin-softening properties of lipids make them suitable for makeup applications. They can be used as emulsifiers and surfactants and function as texturizers to provide consistency to gel-like products. Additionally, they work as fragrance and color carriers, which favors their adoption in makeup products.
Growing spending power to strengthen North America market
North America cosmetic lipid ingredients market will showcase around 5% growth rate up to 2032, owing to recovering economy and growing spending capacity of people. As per Bureau of Economic Analysis, real GDP grew at a 2.9% annual rate in the U.S. in the fourth quarter of 2022, which is expected to increase consumer spending power. However, regional growth can also be ascribed to changing lifestyles of people which is increasing their interests in cosmetics and personal care products.
Partnerships to outline competitive landscape
Some of the major cosmetic lipid ingredients market players are Croda International PLC, Polaris, Stepan Company, NOF Corporation, ABITEC Corporation, Merck Group, Royal DSM, Evonik Industries AG, Neptune Wellness Solutions, and Cargill Incorporated, among others. Many of these firms are emphasizing partnership strategies to extend their global footprint.
The strategic move will help the company manufacture sophorolipids & glycolipids for personal care, home, and I&I markets. In fact, the partnerships aim to strengthen BASF’s leading position in bio-based surfactants and actives space while broadening its product portfolio.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Cosmetic Lipid Ingredients industry 3600 synopsis, 2018 – 2032
Chapter 3 Cosmetic Lipid Ingredients Industry Insights
3.1 Introduction
3.2 Impact analysis of the COVID-19 pandemic on world economy
3.3 Industry ecosystem analysis
3.4 COVID-19 impact on industry value chain
3.5 Regulatory landscape
3.6 Technology & innovation landscape
3.7 Pricing analysis
3.8 Cost structure analysis
3.9 Industry impact forces
3.10 Growth potential analysis, 2022
3.11 Porter’s analysis
3.12 PESTEL analysis
3.13 COVID-19 impact on the Cosmetic Lipid Ingredients market, by Application
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
