Active Ingredients Market for Cosmetics worth 4.45 billion USD by 2026 | Key players AkzoNobel N.V., BASF SE, Clariant AG, Sederma Inc., Lonza.

According to recent market research the "Active Ingredients Market for Cosmetics by Functionality (Conditioning Agents, UV Filters, Anti-Aging Agents, Skin Lightening Agents), Application (Skin Care, Hair Care) - Global Forecast to 2026", The global active ingredients market for cosmetics was valued at USD 2.63 Billion in 2015 and is projected to reach USD 4.45 Billion by 2026, at a CAGR of 5.2% from 2016 to 2026. Increasing demand of anti-aging, skin whitening, and sun protection products coupled with the increasing demand for multifunctional ingredients is estimated to drive the market.

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The active ingredients market for cosmetics is segmented based on functionality into conditioning agents, UV filters, anti-aging agents, and skin lightening agents. In 2015, the conditioning agents segment captured the largest share of the overall active ingredient market for cosmetics. The major factor for this large share is due to their wide applicability in both hair care and skin care applications. Increasing population and rising per capita spending on cosmetics in Asia-Pacific and Europe drive the market for this segment. However, the conditioning agents' market in North America will register low growth due to the increasing government regulations in the region.

The major applications of active ingredients for cosmetics are skin care and hair care. The skin care segment is expected to register the highest CAGR during the forecast period. Cosmetic skin care products are widely in demand across the world due to common need of humans to look good. The need of a bright and glowing skin is a major thriving factor for the growing demand of beauty and skin care products. An increase in male-specific cosmetic products and growing population in the Asia-Pacific region is expected to boost the demand of skin care cosmetics products, thereby increasing the demand of active ingredients used in these products.

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The global active ingredients market for cosmetics is segmented into five regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Central & South America. Europe is the largest cosmetic active ingredients market, closely followed by Asia-Pacific. The largest market share of Europe can be attributed to factors such as high awareness among consumers to use beauty products to lighten the skin, wide variety of cosmetic products availability, and presence of many international cosmetic products manufacturing brands.

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BASF SE is one of the leading active ingredients manufacturers for cosmetics globally. The company has been focusing on new product developments to maintain its leading position in the market. For instance, in January 2015, BASF offered a new solution for skin care market named as Skin care polymer toolbox. This solution provides opportunity to the customers to identify the best suited polymer for their skin. It helped the company towards effective usage of the sensory features of its products.

Clariant AG (Switzerland) is another major player in the cosmetic active ingredients market. The company is focusing on mergers & acquisitions as a part of its strategic development activities. In April 2016, Clariant acquired 17% share in BioSpecturm Inc. (South Korea), which is a producer and supplier of active ingredients for cosmetics products. This acquisition allowed Clariant to grow its share in the personal care market.

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