Global Cosmetic Chemicals Market 2024 Future Trends, Scope, Industry Analysis And Forecast To 2033

The cosmetic chemicals market size has grown strongly in recent years. It will grow from $19.01 billion in 2023 to $20.2 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to consumer demand for beauty products, changing beauty standards, globalization and urbanization, marketing and branding strategies, regulatory changes and safety standards.

The cosmetic chemicals market size is expected to see strong growth in the next few years. It will grow to $25.83 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to growing emphasis on natural and organic products, health and wellness trends, global economic and demographic changes, regulatory compliance and safety standards. Major trends in the forecast period include rise of clean beauty, customization and personalization, focus on health and wellness, sustainable packaging and practices, inclusivity and diversity.

Market Overview -
Cosmetic chemicals are a blend of chemical compounds obtained from synthetic sources as well as natural sources. They are the main ingredients used for the formulation of personal care or cosmetic products.

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Rising Demand For Hair And Skin Care Products Drives Growth In The Cosmetic Chemicals Market
The increasing popularity of hair and skin care products is expected to propel the growth of the cosmetic chemicals market going forward. A skin care product means a cosmetic preparation, which may be antiseptics, tonics, lotions, creams, or otherwise, massaging, cleansing, stimulating, manipulating, performing non-invasive hair removal, beautifying, or similar work on the body of any person. Hair and skin care products are items created to beautify, protect, and change the appearance of bodies' external features. Cosmetic chemical is a major ingredient used in the hair and skin care products. For instance, according to Zippia Inc., a US-based company that provides online recruitment services, in 2021, Skincare products makeup over 42% of the worldwide cosmetics market, and Just under half of the worldwide cosmetics market is made up of the sale of various skincare products. Products for hair care make up around 24% of the global market, just behind skincare. Therefore, the increasing popularity of hair and skin care products will continue to drive the growth of the cosmetic chemicals market.

Competitive Landscape -
Major companies operating in the cosmetic chemicals market report are Dow Chemical Company, Givaudan SA, Ashland Global Holdings Inc., Eastman Chemical Company, Lonza Group Limited, BASF SE, Lanxess AG, P&G Chemicals, Solvay SA, Evonik Industries AG, Bayer AG, Croda International plc, Stephan Company, Symrise AG, Cargill Inc., Lubrizol Corporation, Cobiosa, Genomatica Inc., Pharmacos, Wacker Chemie AG, Synthomer plc, Celanese Corporation, Arkema Inc., ARLANXEO Holding BV, Apcotex Industries Limited, Asahi Kasei Corporation, KCC Corporation, Bluestar Silicones USA Corp., Clariant AG, Huntsman Corporation, Momentive Performance Materials Inc., Nippon Shokubai Co. Ltd., OMNOVA Solutions Inc., Shin-Etsu Chemical Co. Ltd.

Innovative Cosmetic Chemicals Unleash The Power Of Baobab And Hibiscus In Skincare
Product innovation is the key trend gaining popularity in the cosmetic chemicals market. Major companies operating in the cosmetic chemicals market are focused on developing innovative products to strengthen their market position. For instance, in February 2022, Merck & Co. Inc., a US-based science and technology company launched RonaCare Baobab and RonaCare Hibiscus, two new cosmetic ingredients. These two items were created using the baobab fruit and the hibiscus flower, two superfoods rich in nutrients and also useful for the skin. The botanical extracts can be used in a variety of topical solutions, from daily skin care to dermo-cosmetics, and are sustainably and ethically derived. Strong elastin and collagen protection are provided by RonaCare Baobab, which also lessens skin irritation. Additionally, RonaCare Hibiscus reduces skin irritation, aids in the care of sensitive skin, guards against oxidative stress, shields collagen from deterioration, and boosts the vitality of skin cells.

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Key Segments -
The cosmetic chemicals market covered in this report is segmented -
1) By Product Type: Surfactants, Emollients and Moisturizers, Colorants and Pigments, Preservatives, Emulsifying and Thickening Agents
2) By Application: Perfumes and Fragrances, Hair Care and Skincare, Color Cosmetic Chemicals, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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