Global Cosmetic Ingredients Market: Snapshot
The global market for cosmetic ingredients has been growing at a steady pace, thanks to the escalating demand for cosmetic products across the world. The pursuit of beauty, together with the increasing consciousness of consumers towards physical appearance, and the rising awareness among them pertaining to skin care has fueled the demand for cosmetics substantially. Apart from this, the increasing trend of the anti-aging formulations is also driving the growth of this market.
On the flip side, the implementation of stringent government rules and regulations upon a number of ingredients is likely to act as a restraint in the growth trajectory of this market in the near future. However, the frequent and continual changes in the preferences of consumers are anticipated to generate lucrative opportunities for the progress of this market over the years to come.
The global cosmetic ingredients market was worth US$22.89 bn in 2016 and is expected rise at a CAGR of 4.60% from 2017 to 2025, increasing to US$33.80 bn by the end of 2025.
Moisturizing Agents to Enjoy Continued High Demand
Cosmetic ingredients are mainly utilized as cleansing agents, moisturizing agents, and coloring agents. Among these, the moisturizing agents segment holds the most prominent share in this market, thanks to the extensive usage of moisturizing agents in skin care, hair care, and makeup cosmetics. Researchers anticipate the scenario to remain same over the next few years.
The demand for cleansing agents is also expected to increase considerably in the near future, especially in the skin care and hair care products. The growing awareness among consumers regarding the benefits offered by cleansing agents, such as effective removal of oil and dirt from skin and hair, is expected to influence their demand in the years to come.
Asia Pacific to Remain Dominant in Global Cosmetic Ingredients Market
On the basis of geography, the worldwide cosmetic ingredients market has been segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Primarily driven by China, India, Japan and the Rest of Asia Pacific, Asia Pacific led the global market in 2016 with a total share of 32.02%. The strengthening economy of Asian countries has increased the disposable income of Asian consumers, reflecting greatly on their living standard, which consequently, is influencing their aesthetic consciousness. With the increased purchasing power, consumers are willing to spend on high-end expensive cosmetic products, in a bid to look good. This, as a result, is likely to stimulate the market for cosmetic ingredients in Asia Pacific over the forthcoming years remarkably, ensuring its dominance on the global market.
China has surfaced as the most prominent domestic market for cosmetic ingredients in Asia Pacific as well as the whole world, thanks to the presence of a large pool of cosmetic product manufacturers. Analysts expect that China will remain sitting in this position over the next few years, thanks to the availability of low cost of raw materials and the increasing investments by leading players. Europe, among other regional markets, is expected to witness healthy growth in the years to come. France, Italy, Germany, the U.K., and the Rest of Europe are likely to drive the Europe cosmetic ingredients market in the near future, in which, France is anticipated to emerge as the leading domestic market, closely followed by Italy and Germany.
Ashland Inc., Croda International Plc, BASF SE, Akzo Nobel N.V., Evonik Industries AG, The Dow Chemical Co., Innospec Inc., Solvay SA, Lonza Group, and Clariant AG are some of the key vendors of cosmetic ingredients across the world.
Global Cosmetic Ingredients Market: Overview
Cosmetic Ingredients market is forecast to witness a stable growth rate over the forecast period. With increased demand of various end use products, the global market for cosmetic ingredients is increasing substantially. Various types of ingredients both natural and synthetic are used in various end use products such as skin care, hair care and make up among others. By type the market has been segmented into surfactants, polymers, emollients rheology modifiers and others which include absorbers and antimicrobials. By function the market has been segmented into cleansing agent, moisturizing agent and coloring agent and others which includes fragrances and toners. The market is further segmented into end use namely skin care, hair care; make up, oral care and others which include perfumes and deodorants.
Consumers over the years has become excessive conscious about the well-being of the skin and is more focused in attaining perfect flawless skin without any blemishes, marks or dark spots. Manufacturers through continuous research and development capture the existing skin care industry with the introduction of new products with unique ingredients, thus triggering the global cosmetic ingredients market. In addition, major skin concerns among consumers include, premature ageing, wrinkles, dry skin, pigmentation, age spots, and uneven skin tone. Therefore, anti-ageing products are in great demand which in turn boosts the global cosmetic ingredients market. Major restraint hindering the global market includes stringent government rules and regulations on several ingredients.
Global Cosmetic Ingredients Market: Scope of the Study
The cosmetic ingredients market is seeing dramatic changes over the years. There are several regulatory bodies that have their own regulations regarding the use of different ingredients in order to provide safety to consumers. Thus, this has resulted in restraining the global cosmetic ingredients market. Major opportunities of the global cosmetic ingredients market include constant change in consumer preference. Changing lifestyle and rising disposable income coupled with growing consciousness about physical appearance has resulted in continuous demand for cosmetic products which in turn has fuel the demand for cosmetic ingredient market. A stable and continuous growth of the economy in the Asia Pacific region has resulted in rise in disposable income over the years. This has generated opportunities for the global cosmetic ingredients market.
Moreover, in this report the study provides different countries included in different regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific is the most dominant region in the global market as well as the most rapid growing region. North America includes the U.S. and Rest of North America. The U.S. held the most dominant market share and it is also the most rapid growing country. Europe includes U.K., Germany, France, Russia, Italy and Rest of Europe. France held the most dominant share in the European market. U.K is the most rapid growing country over the forecast period. Asia Pacific includes countries such as India, China, Japan and Rest of Asia Pacific. In addition, Middle East and Africa includes country such as UAE, South Africa and Rest of Middle East and Africa. Latin America comprise of countries such as Brazil and Rest of Latin America.
Companies Mentioned in the Report
A competitive analysis of all the leading players is included in the report. The leading players include Ashland Inc. (U.S.), BASF SE (Germany), Croda International Plc. (U.K.), Akzo Nobel N.V. (Netherlands), The Dow Chemical Company (U.S), Evonik Industries AG (Germany), Lonza Group (Switzerland), Solvay SA (Belgium), Clariant AG (Switzerland) and Innospec Inc. (U.S.) among others.
The report provides an exhaustive study of the Cosmetic Ingredients market along with offering the market estimates, in terms of revenue (USD billion) for the forecast period from 2017-2025. Further, the global market is classified on the basis of type, function and end use.
The global cosmetic ingredients market can be segmented as follows:-
- Antioxidants and Preservatives
- Rheology Modifiers
- Cleansing agent
- Moisturizing Agent
- Coloring Agent
By End User
- Skin Care
- Hair Care
- Make Up
- Oral Care
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America