The global market for the cosmetic ingredients market has been growing at a steady pace, due to escalating demand for cosmetic products across the globe. The major growth drivers are increasing consciousness of consumers towards physical appearance, and rising awareness pertaining to skin care has fueled the demand of cosmetics substantially. In addition, growing traction towards anti-aging formulations is also driving the growth of the market. However, the market is hindered by stringent government regulations upon ingredients is likely to constrain the growth of market.
The global cosmetic ingredients market was worth around US$23.9 billion in 2016 and it is expected to rise at a CAGR of 4.4% from 2017 to 2025, reaching US33 billion by 2025.
Global Cosmetic Ingredients Market: Segmentation
- Antioxidants and Preservatives
- Rheology Modifiers
- Cleansing agent
- Moisturizing Agent
- Coloring Agent
By End User:
- Skin Care
- Hair Care
- Make Up
- Oral Care
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 largest share in this market, owing to high usage of moisturizing agents in skin care, hair care, and makeup cosmetics.
Moreover, 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 near future.
Asia Pacific to Remain Dominant in Global Cosmetic Ingredients Market
Due to rapid growth in the Asian economies, the disposable income of Asian consumers has increased to the greater extent which is reflecting with high living standards. Moreover, the increased consumer willingness and purchasing power capacity to spend on high quality expensive cosmetic products is likely to stimulate the growth of the market.
The key players in the cosmetic ingredients market include Croda International Plc, BASF SE, Akzo Nobel N.V., The Dow Chemical Co., Innospec Inc., Ashland Inc., Clariant AG, Lonza Group, and Solvay SA.