NEW YORK, United States, June 23, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Cosmetic Chemicals Market Size – 2023 to 2030” in its research database. According to the latest research study, the demand of global cosmetic chemicals market size & share in terms of revenue was valued at USD 22.6 billion in 2022 and it is expected to surpass around USD 42.8 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.70% during the forecast period 2023 to 2030.
Cosmetic Chemicals Market Report Overview:
Cosmetic chemicals are substances used in the formulation and production of cosmetic products. These chemicals include a wide range of ingredients such as emollients, surfactants, preservatives, colorants, emulsifiers, fragrances, and UV filters. They contribute to the texture, stability, performance, and aesthetic attributes of cosmetic products, enhancing their sensory appeal and overall effectiveness. Cosmetic chemicals are essential for creating various personal care and beauty products, including skincare creams, lotions, hair care products, makeup, and fragrances.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis are all included in the most recent version of the study
- Zion Market Research Methodology
Global Cosmetic Chemicals Market Dynamics:
Growth Drivers –
Increasing Demand for Anti-Aging Products. The increasing demand for anti-aging products is a significant growth driver in the cosmetic chemicals industry. As the global population continues to age, there is a growing interest in products that target signs of aging, such as wrinkles, fine lines, and age spots. Consumers are becoming more proactive in their skincare routines, seeking advanced solutions to maintain youthful and healthy-looking skin. This has led to a rise in the demand for cosmetic chemicals that offer anti-aging properties and benefits.
Intense Competition and Price Sensitivity. Intense competition and price sensitivity pose significant restraining factors in the cosmetic chemicals market. The beauty and personal care industry is highly competitive, with numerous manufacturers and suppliers vying for market share. As a result of this intense competition, there is constant pressure on prices and profit margins. Cosmetic product manufacturers, including those utilizing cosmetic chemicals, often face challenges in maintaining competitive pricing while meeting quality and regulatory standards.
Growing Demand for Clean and Green Beauty Products. Consumers are increasingly concerned about the ingredients used in their personal care and beauty products, seeking formulations that are safe, sustainable, and environmentally friendly. This is likely to pave the way for new growth opportunities in the global cosmetic chemicals market. The clean beauty movement, which focuses on using non-toxic, natural, and responsibly sourced ingredients, has gained significant traction in recent years. Consumers are looking for cosmetic chemicals that align with their values of transparency, health consciousness, and environmental sustainability.
Regulatory Compliance and Safety Standards. The beauty and personal care industry is subject to various regulations and guidelines to ensure the safety, quality, and efficacy of cosmetic products, thereby creating challenges for the cosmetic chemicals industry. Regulatory bodies, such as the Food and Drug Administration (FDA) in the United States, the European Union’s Cosmetics Regulation, and similar authorities worldwide, impose strict requirements on cosmetic chemicals. These regulations encompass aspects such as ingredient safety, labeling, product claims, and manufacturing practices.
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|Market Size in 2022||USD 22.6 Billion|
|Projected Market Size in 2030||USD 42.8 Billion|
|CAGR Growth Rate||7.70% CAGR|
|Key Market Players||BASF SE, Dow Chemical Company, Croda International PLC, Evonik Industries AG, Ashland Global Holdings Inc., Clariant AG, Lonza Group Ltd., Akzo Nobel N.V., Solvay SA, Eastman Chemical Company.|
|Key Segment||By Ingredient Type, By Application, By End-User, and By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
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Cosmetic Chemicals Market: Segmentation Analysis
The global cosmetic chemicals industry is segmented based on ingredient type, application, end-user, and region.
Based on the ingredient type, the global market is bifurcated into surfactants, emollients, preservatives, colorants, fragrances, conditioning polymers, emulsifiers, UV filters, antioxidants, and others. The emollient segment is expected to dominate the market over the forecast period. Emollients are moisturizing agents that help to soften and hydrate the skin. They are present in various skincare products, including creams, lotions, and body butter. With the increasing emphasis on skincare and moisturization, emollients are expected to hold a significant market share.
Based on the application, the global cosmetic chemicals industry is divided into skincare, haircare, makeup, fragrances, toiletries, oral care, and others. Skincare has been a dominant segment in the cosmetic chemicals market due to the high demand for skin care products globally. Skincare encompasses a wide range of products such as creams, lotions, serums, cleansers, and masks, which often require various cosmetic chemicals for their formulation.
Based on the end-user, the market is segmented into consumer, professional, and industrial. The consumer segment is expected to capture the largest revenue share during the forecast period. The consumer segment tends to have a significant market share in the cosmetic chemicals market. This is because consumer products, including skincare, haircare, makeup, and toiletries, are widely used by individuals for personal grooming and beauty enhancement. The demand for cosmetic chemicals is driven by consumer preferences and trends in the beauty and personal care industry.
The global cosmetic chemicals market is segmented as follows:
By Ingredient Type
- Conditioning Polymers
- UV Filters
- Oral Care
Browse the full “Cosmetic Chemicals Market By Ingredient Type (Surfactants, Emollients, Preservatives, Colorants, Fragrances, Conditioning Polymers, Emulsifiers, UV Filters, Antioxidants, And Others), By Application (Skincare, Haircare, Makeup, Fragrances, Toiletries, Oral Care, And Others.), By End-User (Consumer, Professional, Industrial), And By Region – Global, And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030″- Report at https://www.zionmarketresearch.com/report/cosmetic-chemicals-market-size
Some of the main competitors dominating the global Cosmetic Chemicals market include –
- BASF SE
- Dow Chemical Company
- Croda International PLC
- Evonik Industries AG
- Ashland Global Holdings Inc.
- Clariant AG
- Lonza Group Ltd.
- Akzo Nobel N.V.
- Solvay SA
- Eastman Chemical Company.
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Cosmetic Chemicals market is likely to expand at a CAGR of around 7.70% during the forecast period (2023-2030).
- In terms of revenue, the Cosmetic Chemicals market size was valued at around US$ 22.6 billion in 2022 and is projected to reach US$ 42.8 billion by 2030.
- The increasing demand for personal care and beauty products is a major growth driver for the cosmetic chemicals market. In recent years, there has been a significant rise in consumer awareness and interest in personal grooming, beauty enhancement, and skincare routines.
- Based on the ingredient type, the emollient segment is projected to capture the largest market share during the forecast period.
- Based on the application, the skin care segment will grow at a significant rate during the forecast period.
- Based on the end-user, the consumer segment is expected to capture the largest revenue share over the forecast period.
- Based on region, North America is expected to dominate the market during the forecast period.
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The global cosmetic chemicals market is projected to witness the highest growth in North America and is expected to dominate the global cosmetic chemicals market during the forecast period. North America has a well-established beauty and personal care market, with a high level of consumer awareness and beauty consciousness. The region’s strong consumer demand for cosmetic products drives the growth of the cosmetic chemicals market. Additionally, the presence of prominent beauty brands and a focus on product innovation contribute to market growth in North America.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
- In March 2023, Evonik acquired Huntsman’s Performance Chemicals business. This acquisition will give Evonik a leading position in the market for cosmetic active ingredients.
- In April 2023, Clariant acquired Kalon Biopharm, a leading supplier of natural extracts for the cosmetic industry. This acquisition will strengthen Clariant’s position in the natural cosmetics market.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Cosmetic Chemicals industry?
- What are the main driving factors propelling the Cosmetic Chemicals Market forward?
- What are the leading companies in the Cosmetic Chemicals Industry?
- What segments does the Cosmetic Chemicals Market cover?
- How can I receive a free copy of the Cosmetic Chemicals Market sample report and company profiles?
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Ingredient Type, By Application, By End-User, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/cosmetic-chemicals-market-size
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