Cosmetic Ingredients Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1933
Cosmetic Ingredients Market size is anticipated to grow rapidly owing to extensive use in personal care products around the world. It is added in personal care goods to enhance facial appearance. There are large variety of constituents used improving one’s personal appearance. Increasing in consumer spending on beautification will surge product demand in the forecast period.
Personal care industry has grown over 40% from past decade due to rising consumer awareness regarding body care and wellness. Consumption pattern in teenagers for hair and skin care goods is substantially increasing. Both the genders of the society are contributing equally in growing cosmetic ingredients market. It was estimated that 25% salon business come from men’s treatment. Large number of existing players and new entrants is making cosmetic ingredients market highly competitive.
Whitening products are increasing getting popular among both the genders, in turn propelling industry growth. Men these days are not ashamed to be called as metrosexual. There is a change in the consumer habits from past and several companies are emphasizing on social media to lure consumers. Growing preference for natural skin lighting elements along with desire for fairer skin tone positively influence industry size.
Increasing number of aged people is uplifting the cosmetic ingredients market due to shift in consumer preference for anti-aging creams and lotions. Over 8% of the global population is aged 65 or above in 2016.
Stringent regulations over raw material usage will boost product demand. Several governments have developed substantial regulations to eliminate counterfeit personal care elements. The U.S. based FDA is responsible for checking and identifying non-brand elements and taking action against companies for supplying forged products. Growing demand for personal care goods and strict regulation will impact product demand positively.
Excessive use of product can lead to severe dryness, skin irritation and blistering. Growing consumer awareness regarding ill effects of the elements is expected to drive consumers towards natural and organic components and can affect the overall growth.
Cosmetic ingredients market is segmented based on products into functional, aesthetics, experimental, dilutes, stabilizers, adjustment agent, production aid and claims. End users include personal care industry. Various application of element are moisturizers, conditioning agents, make ups, thickeners, colorants, mineral oils, talc, emulsifiers and botanicals.
Middle East will witness high demand in cosmetic ingredients market in forecast time period due to growing consumer fairness applications to maintain their white tone. Economic development coupled with increase in per capita income and living standards will drive the regional cosmetic ingredients market share.
Iranian women are amongst the largest beautification component users in the world. Changing lifestyle, rising disposable income and urge for personal beautification are factors propelling product demand. Over 25% of girls aged between 15 and 19 follow beautification techniques of international celebrities from T.V. shows Growing westernization and modern thinking will stimulate cosmetic ingredients market size in the country.
Europe is anticipating huge gains in cosmetic ingredients market in the forecast period. It hosts numerous big beauty brands including L’Oreal and Beiersdorf. It is even home for over 4000 companies that manufacturers personal care goods and perform strongly in terms of exports. Increasing demand for personal care goods and exports in the region will bolster product demand.
Key players in cosmetic ingredients market are Callahan, Dow Chemicals, Sederma Inc., Rhodia, BASF, DuPont Tate & Lyle, Clariant, Evonik Industries, Ashland and Kovic. These companies are significantly emphasizing on research and development activities to eliminate product side effects on human body. Callahan chemical expanded its research center in South East U.S. region in 2015. Motive of expansion was to widen its global footprint and to strengthen value proposition in the U.S. to gain high revenue.
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