Cosmetic chemicals market to nearly double amid growing preference for eco-friendly cosmetics
NEW YORK, October 3, 2022 /PRNewswire/ — Fact.MR provides an in-depth analysis of the global cosmetic chemicals market for the next decade. The research also offers in-depth information on key growth aspects such as trends, opportunities, and strategies of key players. Additionally, the report examines current trends in major regions across multiple segments including application and type.
Fact.MR – A market research and competitive intelligence provider: The Global Cosmetic Chemicals Market is Expected to Reach 22 billion US dollars by 2022, growing at a CAGR of 6% from 2022 to 2032. Growing demand for cosmetic chemicals, combined with growing preference for organic chemicals, is expected to drive the market during the forecast period ( 2022-2032).
A key trend observed in the market is the move away from hazardous chemicals. Considering this, the preference of end-users and changing regulations by governments, major players are investing in the development of organic alternatives for the production of health and beauty products. The demand for organic alternatives is expected to create opportunities for new entrants to this market.
Additionally, the demand for cosmetic chemicals is highest in the hair and skin care segment. According to Fact.MR, sales of cosmetic chemicals for hair and skin care accounted for nearly 30% share in 2022, registering a CAGR of 5% during the forecast period.
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At the regional level, North America is one of the largest markets for cosmetic chemicals and is expected to create significant opportunities over the forecast period. The United States is expected to represent a significant portion of North America market over the forecast period. A large cosmetics industry in the country, combined with well-followed guidelines and regulations, is likely to create significant growth opportunities for cosmetic chemical manufacturers.
In addition to this, the United States and China are also likely to remain a key market for cosmetic chemical manufacturers over the assessment period. According to the study, China The cosmetic chemicals market is expected to grow at a CAGR of 5.7% between 2022 and 2032, and reach a valuation of 7 billion US dollars by 2032.
Key points to remember:
- In terms of application, the hair and skin care segment is expected to grow at 5% CAGR during the forecast period.
- Asia Pacific is expected to be a fast growing market for cosmetic chemicals, registering significant growth over the forecast period.
- The US cosmetic chemicals market is expected to grow at a CAGR of 5.8% over the next decade.
- By type, emollients, film formers and moisturizers are likely to be the most lucrative segment and are expected to grow at a CAGR of 6% over the assessment period.
- Sales in the UK cosmetic chemicals market are expected to increase by 5% CAGR during the forecast period.
- The growing popularity of hair and skin care products is expected to create demand for cosmetic chemicals.
- The move towards organic and non-hazardous chemicals encourages manufacturers to develop and create high quality products.
- The growing demand for sunscreen and anti-aging products is expected to create remunerative growth prospects in the market.
- Sustainable and eco-friendly components have attracted interest from manufacturers and customers, driving the demand for organic cosmetic chemicals.
- Rising popularity of herbal products devoid of any chemicals will likely hamper the growth over the forecast period.
- Rising raw material prices are likely to put pressure on manufacturers who are focused on launching affordable products.
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Cosmetic chemical manufacturers favor collaborations with end users to benefit from mutual expertise. Additionally, they are also investing in organic and natural ingredients to capitalize on the growing preference for organic products.
- Jowell Global announced its partnership with Hope Bio-Technology in August 2021. This collaboration will benefit both companies’ efforts to create innovative skin care, cosmetics, health products and dietary supplements based on cellular technology.
- BASF announced in November 2020 that it will use Neutrol® MGDA, an eco-friendly complexing agent for its line of products for personal care applications.
Top Companies Featured by Fact.MR
- Symrise AG
- The company Lubrizol
- Lonza Group Limited
- P&G Chemicals
- Eastman Chemical Company
- Evonik Industries SA
- BASF SE
- Dow Inc.
- Firmenich AG
- Givaudan AG
- Akzo Nobel SA
- Ashland Global Holdings Inc.
- Clariant International Ltd.
- International Flavors and Fragrances Inc.
- LANXESS S.A.
- Sederma SAS
- Solvay S.A.
More Valuable Insights into the Cosmetic Chemicals Market
In its latest study, Fact.MR offers a detailed analysis of the global Cosmetic Chemicals Market for the forecast period 2022 to 2032. This study also discloses key drivers and trends driving the Cosmetic Chemicals sales through detailed segmentation as following :
- Perfumes & Fragrances
- Hair care and skin care
- Emollients, film-forming and moisturizing agents
- Single-use additives
- Supports, Powders & Dyes
- Thickening agents
- North America
- East Asia
- South Asia
- Latin America
- Middle East & Africa
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Key Questions Covered in the Cosmetic Chemicals Market Report
- What is the anticipated market size of the Cosmetic Chemicals market in 2022?
- At what rate will global Cosmetic Chemicals market sales grow through 2032?
- What are the factors driving the demand in the Cosmetic Chemicals market?
- Which region is expected to dominate the global cosmetic chemicals market in 2022-2032?
- What are the factors driving the sales in the Cosmetic Chemicals market during the forecast period?
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Cosmetic Toiletry Chemicals Market: Skin care, sun care and other seasonal products are in line with the most popular items, while complexion products are in demand in the cosmetics and toilet chemicals market. More than 40% of global cosmetics sales are made up of skincare items in certain regional markets. In addition to skin care products, experimentation with new color tints for makeup and hair colors is becoming popular in the cosmetic toilet chemicals market.
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