[FURL=https://www.industryarc.com/pdfdownload.php?id=15887]Cosmetic Ingredients Market[/FURL] size is forecast to reach $11.8 billion by 2025, after growing at a CAGR of 7.1% during 2020-2025. Cosmetic ingredients are the specific sets of substances that are used in the formulation and composition of cosmetics which enhances the physical appearance of people. Globally, changing lifestyles and growing spending capacity rise in the awareness about beautification, and an increase in per capita income and an urbanized population will accelerate the prime growth of the global cosmetic ingredients industry in the forecast era.Key Takeaways
Asia Pacific dominates the Cosmetic Ingredients Market owing to the emerging economies and increase in adoption of cosmetic ingredients increasing in this region.
Rising consumer buying power and rapid lifestyle change are the driving force behind the cosmetic ingredient market's growth.
Stringent regulatory controls and higher research and production costs are main constraints on the worldwide demand for cosmetic ingredients market.
Effect of COVID-19 has a direct impact on the cosmetic ingredients industry, impacting supply of raw materials. More positively, the disruption led to the acceleration of remote work and the accelerated appraisal and de-risking of the end-to - end supply chain.
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Cosmetic Ingredients Market Segment Analysis - By Geography
Asia Pacific held the largest share with 38% in the cosmetic ingredients market in 2019 and is projected to grow significantly in the forecast period. The market for natural ingredients for cosmetics and related products has seen a substantial increase with the socio-demographic shifts in Asia-Pacific. According to the Centre for the Promotion of Imports from developing countries (CBI), the demand for natural ingredients with active properties such as anti-aging has increased significantly with the growing aging population in the region. Skincare products have gained widespread popularity including creams, serums, hair creams, and face masks.
Cosmetic Ingredients Market Drivers
Growing demand for hair care and oral care applications
Increasing demand for multifunctional Ingredient
Cosmetic Ingredients Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the cosmetic ingredients market. In 2019, the market of cosmetic ingredients has been consolidated by the top five players accounting for xx% of the share. Major players in the cosmetic ingredients market are BASF SE, Ashland Global Holdings Inc., Croda International Plc, Evonik Industries AG, Lonza Group Ltd., Solvay SA, Akzo Nobel N.V., Wacker Chemie AG, and The Dow Chemical Company, among others.
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