The cosmetic chemicals market size will be worth around $41.7 billion


Tokyo, Aug. 04, 2022 (GLOBE NEWSWIRE) — The world cosmetic chemicals market size was valued at USD 23.14 billion in 2022. The main components used in the creation of personal care products are cosmetic chemicals. Cosmetics have been around since advanced cultures understood the need to enhance beauty. Since then, the components of cosmetics have undergone significant transformation and new manufacturing processes and formulas for perfumes and cosmetics have also been developed. The creation of cosmetics involves the use of several substances. Ammonium lauryl sulfate, lanolin, talc, formaldehyde, alcohols and mineral oils/waxes are some of them.

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  • The preservative sector is expected to experience the highest growth rate in terms of revenue, with a CAGR of 7.3% from 2022 to 2030.
  • The polymer ingredients segment leads the global cosmetic chemicals market with approximately 51.3% market share in terms of sales.
  • With over 28.9% market share by revenue, the skincare category leads the global cosmetic chemicals market.
  • In terms of revenue, North America held a dominant 36.6% share of the global cosmetic chemicals market.
  • Asia-Pacific is expected to have the highest revenue growth rate, reaching a CAGR of 7.3% from 2022 to 2030.

Cosmetic chemicals provide useful and physical characteristics to personal care products such as makeup items, skin lotions, body creams, hair conditioners and shampoos. But some cosmetic ingredients can cause adverse reactions. Some of the compounds included in cosmetics and personal care products, including 1,4-dioxane, butylated hydroxytoluene, butyl acetate, diethanolamine, coal tar, and mercury, are toxic. These substances can be harmful to the human body.

Regional overviews

In 2021, North America held a revenue share of approximately 36.6% of the global cosmetic chemicals market. The production of organic personal care products in the region is a key driver of the need for cosmetic chemicals in the region. The major factors driving the cosmetic chemicals market in the region have been increasing R&D expenditures by manufacturers along with related technological innovations in the areas of component processing and economical manufacturing of organic skincare products. This trend is expected to continue during the forecast period.

The world’s largest market for cosmetic chemicals is the United States. Instead of viewing each as a separate personal care category, manufacturers across the country are taking an integrated approach to health and beauty products. They are therefore increasingly open to ideas that link advances in science and health industries to the effectiveness of cosmetics. A number of market players are focusing on accelerating the entry of pharmaceutical, biotech and food ingredient companies into the beauty industry which will lead to the introduction of highly sophisticated components.

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Report scope

Report attributes Details
Market size in 2021 $21.5 billion
Revenue forecasts by 2030 $41.7 billion
CAGR 7.64% from 2022 to 2030
The biggest market North America
Fastest growing region Asia Pacific
base year 2021
forecast year 2022 to 2030
Key players SOLVAY SA, Croda International PLC, Evonik Industries AG, Stepan Company, Symrise, Ashland Inc, Dow, Others.

Market Ddynamic

What are the drivers of cosmetic chemicals market?

  • One of the reasons propelling the cosmetic skin care chemicals market is the growing demand for skin care and anti-aging cosmetics. During the forecasted period, the cosmetic chemicals industry will grow due to the growing popularity of natural and organic cosmetics. One of the major market drivers is increasing consumer spending on cosmetics and grooming products. Major companies in the cosmetics industry have shifted their research and development efforts to focus on creating bio-grade cosmetic ingredients that can be made using common petroleum oils and surfactants.
  • In the near future, it is expected that a strong demand for advanced and high-quality skin lightening substances will boost the development prospects of companies that manufacture cosmetic chemicals. The growing demand for beauty products from various ethnic groups is also fueling the cosmetics industry. Additionally, increasing spending on cosmetics and a young population that is becoming increasingly aware of the benefits of organic personal care products are expected to drive the demand for cosmetic chemicals.
  • Both men and women now have higher demands on cosmetics. Despite an exceptional supply problem in 2020, according to L’Oréal SA, the global cosmetics industry saw a considerable comeback in the second half of the year due to strong consumer demand. The cosmetic chemicals market has grown owing to the huge increase in the cosmetics sector and the growing awareness of better beauty products, grooming treatments and therapies.
  • The market for high-quality cosmetic products is growing as people’s concerns about their skin health, physical appearance, graying hair and hair loss increase, along with changing hairstyle trends. The rise of discretionary personal income in developing countries is also contributing. Additionally, increasing expenditure on marketing and promotion of high-end personal care, skin care, hair care and beauty products by cosmetics producers will increase the demand for cosmetic chemicals.

What are the rconstraints of cosmetic chemicals market?

  • The global cosmetic chemicals market is witnessing growth restrictions owing to strict government rules preventing the use of harmful chemicals and an increase in demand for organic products derived from natural materials. Additionally, several cosmetic chemicals have been linked to cancer, genetic mutations, birth defects, and reproductive disorders, all of which are expected to restrain the market expansion. Increased R&D efforts by market players to create sharp and varied product portfolios are likely to open new growth prospects for the global cosmetic chemicals market.
  • However, the global desire for naturally-derived components may restrain the expansion of the cosmetic chemicals market. But over the projected period, rising health concerns regarding the toxicity of the components are expected to restrain the expansion of the market.

What are the oopportunities of cosmetic chemicals market?

People are looking for better alternatives to conventional cosmetic products currently on the market as they become more and more conscious about their appearance. Organizations are doing more research to develop skin-friendly cosmetic products, examining all facets of wellness and beauty, analyzing consumer behavior and aesthetic preferences, including the biology of skin, hair, teeth and oral cavity, and improving sustainable development techniques. Therefore, a significant trend in the cosmetic chemicals market has been recognized as the growth of R&D for product innovation.

What are the cchallenges of cosmetic chemicals market?

  • On the other hand, the growing trend towards the use of organic cosmetics is one of the biggest challenges to the growth of the cosmetic chemicals market. Strict regulations regarding toxic chemicals used in cosmetic products are the major impediment to the growth of the cosmetic chemicals market over the forecast period 2022 to 2030.
  • The expansion of the cosmetic chemicals market is expected to be hampered by strict rules and regulations against the use of hazardous chemical compounds. For example, California lawmakers introduced a landmark measure in March 2019 declaring that the sale of cosmetics containing harmful substances would be considered illegal in the state. The Toxic-Free Cosmetic Act (AB 495) would be a first for the country. Therefore, it is expected that the establishment of such strict restrictions will hamper the expansion of the cosmetic additives market.
  • Growing environmental concerns over hazardous chemical waste issues from the manufacture of cosmetic components by some facilities are expected to limit future production of brand-new cosmetic ingredients.

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Recent Ddevelopments

  • In April 2021, Dow Inc. introduced its new Virtual Experience Center (VEC), an immersive 3D platform that enables beauty brands to expand their offerings by allowing visitors to review notable developments and marketing trends.
  • In November 2020, Care Creations® by BASF SE will begin selling Neutrol® MGDA, a highly stable and environmentally friendly complexing agent for personal care applications. It has an excellent ecological and toxicological profile and is biodegradable.

Market segmentation

By product type

  • Surfactants
  • Emollients and moisturizers
  • Filmmakers
  • Dyes & Pigments
  • Conservatives
  • Emulsifying and thickening agents
  • Single-use additives
  • Others

By app

  • Skin care
  • Hair care
  • To put on makeup
  • Oral care
  • Perfumes
  • Others

By geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

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