Cosmetic Chemicals Market: Growing Demand for Innovative and Sustainable Beauty Products Drives Market Expansion

According to a recent Fact.MR analysis, the worldwide cosmetic chemicals market is expected to exceed US$ 39 Billion by 2032, rising at a CAGR of 6%. Growth is largely driven by a thriving global cosmetics business, as consumers increase their expenditure on personal care items in response to rising disposable incomes.

Previously, sales of cosmetic chemicals rose at a CAGR of slightly less than 5%, reaching a valuation of over US$ 21 Billion by 2021. In 2020, the market will have topped US$ 21 billion; however, COVID-19-induced slump hindered hopes in the first half of the preceding fiscal year. Massive shop closings reduced cosmetic product sales, causing a disruption in the availability of cosmetic ingredients for future manufacturing.

The high usage of organic cosmetics is projected to have a significant impact on future sales prospects. As consumer concerns about sustainability grow, they are intentionally shifting away from inorganic cosmetic items in favor of natural alternatives. Growth is particularly noticeable in the skincare and hair care product segments, with major cosmetic companies attempting to provide 100% organic goods.

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Key Segments Covered in the Cosmetic Chemicals Industry Report

By Application :
Perfumes & Fragrances
Hair care & Skincare
Color Cosmetic Chemicals
Other Applications
By Type :
Cosmetic Chemical Emollients, Film Formers & Moisturizers
Cosmetic Chemical Surfactants
Single Use Cosmetic Chemical Additives
Cosmetic Chemical Carriers, Powders & Colorants
Cosmetic Chemical Thickening Agents
Other Cosmetic Chemical Types
By Region :
North America
Europe
East Asia
South Asia
Oceania
Latin America
Middle East & Africa

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Key Takeaways from the Market Study

Global cosmetic chemicals market to flourish 1.8x from 2022 to 2032
S to be an opportunistic market, growing at a CAGR of 5.8% until 2032
China to emerge as a significant market, expected to be valued at US$ 7 Billion
South Korea and Japan to be important contributors, collectively growing at a rate of 9.1%
Hair and skin care to be primary growth accelerator, exhibiting a 5% CAGR
Emollients, film formers and moisturizers to emerge as prominent cosmetic chemical types, being valued at US$ 11 Billion

Competitive Landscape

Major cosmetic chemical producers included in Fact.MR's study are Akzo Nobel NV, Ashland Global Holdings Inc., BASF SE, Clariant International Ltd., Dow Inc., Firmenich SA, Givaudan SA, International Flavors & Fragrances Inc., LANXESS AG, Lonza Group Limited, and P&G Chemicals.

BASF SE released the Sacred Patch® skincare active ingredient in April 2021, which helps promote emotional well-being, is equipped with the newest MicroPatch® technology, and is 99.2 percent natural in origin. It has excellent moisturizing properties and stimulates oxytocin release.

Clariant International Ltd. purchased a 10% investment in the French cosmetic ingredients producer Plant Advanced Technologies in November 2019 with the intention of creating new premium products for the active ingredients business portfolio.

Key Cosmetic Chemicals Service Providers

Akzo Nobel NV
Ashland Global Holdings Inc.
BASF SE
Clariant International Ltd.
Dow Inc.
Eastman Chemical Company
Evonik Industries AG
Firmenich SA
Givaudan SA
International Flavors & Fragrances Inc.
LANXESS AG
Lonza Group Limited
P&G Chemicals
Sederma SAS
Solvay SA
Symrise AG
The Lubrizol Corporation

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