The Impact of COVID-19 on the Cosmetic Antioxidants Industry's in 2020

Antioxidant agents are made up of vitamins and minerals that play a key role in anti-aging products. The function of antioxidants is to kill free radicals that are created by air, sunlight, auto contamination, and other environmental causes. Cosmetic antioxidants create a protective layer on the skin to keep it away from the unforeseen conditions and infrared beams. These are included in nearly all beauty care products to protect the skin from aging effects and also to extend the shelf-life.

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Increase in utilization of natural antioxidant agents in cosmetics has opened up new market prospects. Early aging is a major concern across the world. This is projected to increase the usage of these beauty care products. Thus, the increment in utilization of anti-wrinkle creams and moisturizers to fight aging is framing a noticeable opportunity in the cosmetic antioxidants market. Rise in geriatric population, increase in awareness about the use of cosmetic products, and surge in demand especially in developing countries are the major factors fueling the growth of the global cosmetic antioxidants market. Cosmetic antioxidants shield the skin from UV rays.

These agents also strengthen the skin's internal structure and prevent oxidative harm to the skin. These properties of antioxidants are attracting consumers. This in turn boosts market growth. High costs associated with natural antioxidants and rise in issues with the use of synthetic antioxidants are the factors restraining the market.

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Increase in demand for healthy skin products among men presents significant opportunities for players in the global cosmetic antioxidants market. With the rising awareness, even men have begun focusing on their looks, skin, in other words this gender has also opened up many opportunities for the key players in the cosmetics industry to serve the customers demand.

The global cosmetic antioxidants market can be segmented based on type, application, and region. In terms of type, the global market can be classified into vitamins, polyphenols, enzymes, and synthetics. Vitamins can be of different types such as vitamin E, vitamin C, vitamin A, and others. Vitamins E, C, and A are widely used in cosmetic products as antioxidants for moisturization and nourishment of skin. Increase in demand for natural antioxidants for cosmetic products with broad applications is expected to drive the vitamins segment during the forecast period.

The vitamins segment accounted for the largest market share in 2017 and the trend is expected to continue during the forecast period. Based on application, the global cosmetic antioxidants market can be categorized into skin care, hair care, and makeup. The skin care segment accounted for the largest market share in 2017. Rise in demand for cosmetics such as anti-wrinkle creams, anti-aging creams, and UV protection creams, especially in developing countries, boosts the growth of the skin care segment.

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In terms of region, the global cosmetic antioxidants market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to be a major market for cosmetic antioxidants because of the availability of various innovative products due to advancements in technology, rise in the importance of esthetic appearance, and availability of many new products to enhance the appearance of individual. The market in Asia Pacific is likely to expand at a rapid pace in the next few years, owing to increase in the consumer population due to rise in awareness about cosmetic products and surge in availability through several e-commerce sites.

Major players in the global cosmetic antioxidants market are BASF, Wacker Chemie, Croda International, BTSA Biotecnolog�as Aplicadas, and Koninklijke DSM, among others.

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