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Cosmetic Ingredients Global Market Size ($40.81 Billion Revenue By 2028) Growing Rapidly with Recent Trends and Outlook
Cosmetic Ingredients Market
As per the report, the cosmetic ingredients market size has grown strongly in recent years. It will grow from $30.55 billion in 2023 to $32.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The cosmetic ingredients market size is expected to see strong growth in the next few years. It will grow to $40.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
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Rising Demand For Personal Care Products Fuels Growth In The Cosmetics Ingredients Market
The increase in demand for personal care products is expected to propel the growth of the cosmetic ingredients market going forward. Personal care products refer to a wide range of items that are commonly used for maintaining personal hygiene, enhancing beauty, and cleaning. These products are designed to support and enhance personal well-being, cleanliness, and appearance. Cosmetic ingredients are used in personal care products to provide various benefits and functionalities. These ingredients serve specific purposes and contribute to the overall performance, efficacy, and sensory experience of the products. Hence, the demand for personal care products contributes to the growth of the cosmetics ingredients market. For instance, in February 2021, according to the report by Loreal Cosmetic World, a French-based company that manufactures cosmetics and skin care products, demand for personal care products like skincare increased from more than 228 billion euros ($243.4 billion) in 2021 to 8% in 2021 and 41.8% in 2022. Also, e-commerce climbed in the beauty sector from 22.8% in 2020 to 24.5% in 2021. Therefore, the increase in demand for personal care products is driving the growth of the cosmetic ingredients market.
Revolutionizing Cosmetics Through Strategic Partnerships
Major companies operating in the cosmetic ingredients market are adopting a strategic partnership approach to combine innovative and sustainable, cutting-edge biotechnological-based cosmetic ingredients. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in August 2023, Cosmecca Korea Co., a South Korea-based K beauty manufacturing company, partnered with Vytrus, a Spain-based cosmetic ingredient manufacturing company. With this partnership, they aim to use biotechnology to develop new cosmetic ingredients that are both innovative and sustainable, leveraging Vytrus' plant stem cell technology.
The cosmetic ingredients market covered in this report is segmented -
1) By Ingredient Type: Synthetic Chemical Ingredients, Natural/Herbal Ingredients, Specialty Ingredients, Oleochemical, Botanical Extract, Rheology Modifier, Preservatives, Emulsifier And Stabilizer, Other Ingredient Types
2) By Functionality: Cleansing Agents And Foamers, Aroma, Moisturizing, Specialty, Other Functionalities
3) By Application: Skin Care, Oral Care, Hair Care, Make-Up, Fragrance, Other Applications
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Major companies operating in the cosmetic ingredients market report are BASF SE, Unilever, The Dow Chemical Company, L'Oréal International, Evonik Industries AG, Solvay S.A., The Estée Lauder Companies Inc., DuPont, International Flavors & Fragrances Inc., Kao Chemicals, Eastman Chemical Company, DSM, Wacker Chemie AG, Givaudan, Lonza Group Ltd., Clariant AG, KCC Corporation, Symrise, Croda International PLC., Ashland Inc., P2 Science Inc., Spira Inc., Naturbeads Ltd., Allozymes, Ardra Bio, Firmenich, Protameen Chemicals, Lipoid Kosmetik, Ecogreen Oleochemicals, Aqia
Contents of the report:
1. Executive Summary
2. Cosmetic Ingredients Market Report Structure
3. Cosmetic Ingredients Market Trends And Strategies
4. Cosmetic Ingredients Market - Macro Economic Scenario
5. Cosmetic Ingredients Market Size And Growth
…..
27. Cosmetic Ingredients Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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