According to a research analysis conducted by ChemView Consulting, In 2021, the worldwide cosmetic ingredients market was worth US$ 32.67 Bn, and it is expected to grow at a CAGR of 4.6% 2022 and 2030 to hit US$ 48.97 Bn by 2030 end. In 2030, The market is expanding owing to the growing demand for cleansing agents & foamers, aroma, moisturizing, and specialty in cosmetic products.
Growth of center-elegance human beings in rising economies in particular withinside the Asia Pacific is anticipated to symbolize a beneficial possibility to the marketplace of beauty substances. According to the European Commission, the scale of the worldwide center elegance has improved from 1.eight billion in 2009 to approximately three.five billion human beings in 2017 — greater than 1/2 of of the arena populace and is anticipated to develop to a few four billion via way of means of 2021 and attain five.three billion via way of means of 2030. Hence, this element is projected to provide titanic boom possibility to the marketplace of beauty substances.
Expanding e-trade sale in rising international locations consisting of Brazil, South Africa, China, India and Mexico, North America and Western European nations are projected to foster the marketplace boom of beauty substances. According to the Economic Times, Flipkart and Amazon has touched gross income of $three.five-three.7 billion collectively over the past six days, a upward thrust of 33% over remaining year. Amazon has recorded the very best proportion of transacting clients and purchases throughout all marketplaces in India in particular in style and splendor categories.
The growing fashion of the use of herbal beauty substances amongst producers is gaining traction withinside the marketplace. For instance, in June 2019, BASF Care Creation has brought 3 new energetic substances for the splendor marketplace which employ the precise residences of the rambutan tree (Nephelium lappaceum) to provide remarkable pores and skin hydration and rejuvenation for today`s globally aware consumers. Therefore, the growing advent of herbal beauty substances is projected to gasoline marketplace boom.
The growing wide variety of merger and acquisition around the world for increasing their presence withinside the splendor marketplace is projected to reinforce the marketplace boom of beauty substances. For instance, in November 2019, Givaudan introduced that it has signed an settlement to gather the beauty commercial enterprise of Indena to bolster Active Beauty`s worldwide skills in botanical energetic beauty substances. Such a merger and acquisition is anticipated to foster marketplace boom over the forecast period. Based on application, the marketplace is segregated into pores and skin care, hair care, make up, fragrance, oral care, and others. In 2019, pores and skin care merchandise ruled the worldwide marketplace for beauty components in phrases of sales and contributed for 31.9% withinside the equal year, observed via way of means of hair care and make up applications.
Global Cosmetic Ingredients Market - Impact of Coronavirus (Covid-19) Pandemic
As COVID-19 keeps to unfold rapidly across the world, it's far impacting the worldwide economic system and main to socio-financial disruptions. Beauty and Personal Careindustry has witnessed a steep decline in addition to a customer behavioral shift toward secure and dependable merchandise all through Covid 19 pandemic. Products with decrease hazard of infection and longer shelf lives supporting the rationing of customer components are predicted to enhance the marketplace again to normalcy.
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A list of some of the key players present in the market are:
- BASF SE
- AkzoNobel N.V.
- Croda International Plc
- The Dow Chemical Company
- Eastman Chemical Company
- Clariant AG
- Wacker Chemie AG
- Evonik Industries AG
- Lonza Group Ltd.
- Solvay SA
Segments Covered in Report
By Product Type:
- Botanical Extract
- Rheology Modifier
- Emulsifier & Stabilizer
- Others (Vitamins, Minerals, Protein)
- Skin Care
- Hair Care
- Oral Care
- Others (Shaving and Toiletries)
- Cleansing Agents & Foamers
By Region and Country:
North America (U.S., Canada)
Latin America (Brazil, Mexico, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
Africa (South Africa, Nigeria, Egypt, Rest of Africa)
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ChemView Consulting is a leading market research firm in the Asia Pacific, with expertise in Chemicals & Materials, Food & Beverages, Packaging, Oil & Gas, New & Renewable Energy, and Disruptive Technologies. We are one of the top market intelligence firms specializing in business analytics with an expertise in the ever-growing chemicals industry. We track high-growth markets with innovative ideas and opportunities insights through B2B research.
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