Global Cosmetic Ingredients Market Analysis 2024 – Estimated Market Size And Key Drivers|BASF SE, Unilever, The Dow Chemical Company, L’Oréal International, Evonik Industries AG, Solvay S.A.

The Cosmetic Ingredients Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Cosmetic Ingredients Global Market Report 2024, The cosmetic ingredients market size has grown strongly in recent years. It will grow from $30.55 billion in 2023 to $32.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to natural ingredient trends, scientific advancements, consumer awareness, regulatory changes, cultural influences.

The cosmetic ingredients market size is expected to see strong growth in the next few years. It will grow to $40.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to clean beauty movement, regenerative and healing ingredients, demand for microbiome-friendly ingredients, digital beauty solutions, tech-driven formulations. Major trends in the forecast period include upcycled ingredients, customized skincare kits, bioactive peptides, barrier repair ingredients, cbd and hemp-derived ingredients.

The increase in demand for personal care products is expected to propel the growth of the cosmetic ingredients market going forward. Personal care products refer to a wide range of items that are commonly used for maintaining personal hygiene, enhancing beauty, and cleaning. These products are designed to support and enhance personal well-being, cleanliness, and appearance. Cosmetic ingredients are used in personal care products to provide various benefits and functionalities. These ingredients serve specific purposes and contribute to the overall performance, efficacy, and sensory experience of the products. Hence, the demand for personal care products contributes to the growth of the cosmetics ingredients market. For instance, in February 2021, according to the report by Loreal Cosmetic World, a French-based company that manufactures cosmetics and skin care products, demand for personal care products like skincare increased from more than 228 billion euros ($243.4 billion) in 2021 to 8% in 2021 and 41.8% in 2022. Also, e-commerce climbed in the beauty sector from 22.8% in 2020 to 24.5% in 2021. Therefore, the increase in demand for personal care products is driving the growth of the cosmetic ingredients market.

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The cosmetic ingredients market covered in this report is segmented –

1) By Ingredient Type: Synthetic Chemical Ingredients, Natural/Herbal Ingredients, Specialty Ingredients, Oleochemical, Botanical Extract, Rheology Modifier, Preservatives, Emulsifier And Stabilizer, Other Ingredient Types
2) By Functionality: Cleansing Agents And Foamers, Aroma, Moisturizing, Specialty, Other Functionalities
3) By Application: Skin Care, Oral Care, Hair Care, Make-Up, Fragrance, Other Applications

Major companies operating in the cosmetic ingredients market are adopting a strategic partnership approach to combine innovative and sustainable, cutting-edge biotechnological-based cosmetic ingredients. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in August 2023, Cosmecca Korea Co., a South Korea-based K beauty manufacturing company, partnered with Vytrus, a Spain-based cosmetic ingredient manufacturing company. With this partnership, they aim to use biotechnology to develop new cosmetic ingredients that are both innovative and sustainable, leveraging Vytrus’ plant stem cell technology.

The cosmetic ingredients market report table of contents includes:

1. Executive Summary
2.Cosmetic Ingredients Market Characteristics
3.Cosmetic Ingredients Market Trends And Strategies
4.Cosmetic Ingredients Market analysis
5.Cosmetic Ingredients Market Size And Growth
6.Cosmetic Ingredients Segmentation
7. Cosmetic Ingredients Regional And Country Analysis
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27. Cosmetic Ingredients Competitive Landscape And Company Profiles
28. Cosmetic Ingredients Key Mergers And Acquisitions
29.Cosmetic Ingredients Future Outlook and Potential Analysis

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