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Upcycled Cosmetic Ingredients Market Growth and Restrain Factors Analysis Report
The Global Upcycled Cosmetic Ingredients Market is valued at US$ 252.3 Mn in 2023, and it is expected to reach US$ 429.8 Mn by 2031, with a CAGR of 7.1% during the forecast period of 2024-2031.
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Upcycling cosmetic ingredients is an innovative approach that enables the beauty industry to prioritize sustainability and minimize waste. They can create high-quality skincare, haircare, and makeup products that benefit the skin while promoting environmental conservation by reusing by-products in the food and beverage industries, including coffee grounds, fruit peels, or seed oils. Coffee grounds are scrub exfoliants, fruit peel extracts are moisturizing, and upcycled barley strengthens hair-by example. This versatility allows brands to innovate in response to increased consumer demand for sustainable, eco-conscious solutions in beauty.
The zero waste beauty movement even lines up with the use of upcycled ingredients, as it focuses on minimizing waste from every stage of a product's life cycle. To reduce its footprint and contribute to a more circular economy based on the reuse or recycling of products to prolong their lifecycle, brands use materials that otherwise end up in landfills. Increasing awareness with regards to various environmental issues is further resulting in the increased demand for sustainable beauty products, thereby driving remarkable growth in the upcycled cosmetic ingredients market. Brands which adopt these practices improve their offerings and reach the conscious-minded consumers of our time who are demanding more ethic and sustainable products.
List of Prominent Players in the Upcycled Cosmetic Ingredients Market:
Givaudan SA
Symrise
Cargill, Incorporated
OLVEA Group
Mibelle AG
P2 Science, Inc.
RAHN AG
Hair O'right International Corporation
Lignopure GmbH
SOPHIM
Innomost
Other Prominent Players
Upcycled Cosmetic Ingredients Market Report Scope:
Report Attribute Specifications
Market Size Value In 2023 USD 252.3 Mn
Market Size Value In 2031 USD 429.8 Mn
Growth rate CAGR CAGR of 7.1% from 2023 to 2031
Quantitative units Representation of revenue in US$ Mn, and CAGR from 2024 to 2031
Historic Year 2019 to 2023
Forecast Year 2024-2031
Report coverage The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends
Segments covered By Applications and Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia
Market Dynamics:
Drivers-
The upcycled cosmetic ingredients market is now growing at a very fast pace due to a combination of factors that complements consumer preference and the trend in the industry. There is an increasing demand for sustainable, eco-friendly products with the consumers turning towards beauty products that have minimal impact on the environment and upcycled ingredients as a replacement of the traditional ingredients. The regulatory pressures and circular economy initiatives also make companies adopt this new upcycling practice. Clean beauty trends are speeding up a demand for natural and responsible ingredients while consumers look for formulations free of harmful chemicals, so upcycled ingredients become ever more appealing in the beauty industry.
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Challenges:
The challenges of upcycled cosmetic ingredients involve complicated sourcing and verification of quality ingredients, higher research and development cost leading to the deterrence of smaller companies, and lack of awareness among consumers of the benefits of upcycled products. Finally, regulatory hurdles dealing with sourcing, safety assessments, and labeling complicate the integration of upcycled materials into cosmetics.
Regional Trends:
The North American region remains the most prominent in the upcycled cosmetic ingredients market and is further consolidated by several major driving factors. U.S. has a big manufacturing base, with large cosmetics companies and a lively ecosystem of smaller manufacturers augmenting the variety in upcycled goods. This market undergoes significant influences from increasing consumer awareness about environmental sustainability because consumers opt for more sustainable options with declining waste and functional benefits. Besides this, North America companies are at the forefront of innovation in formulation where upcycled ingredients, such as spent coffee grounds and fruit peels, are utilized, mainly in the facial care category. Lastly, positive regulatory guidelines enable sustainability because companies are compelled to pursue upcycling strategies more strongly if the regulations become tighter while focusing on environmental-friendly consumer markets.
Recent Developments:
In Sep 2024, P2 Science has launched two new ingredients for cosmetics and personal care: Citropol DE-4 and Citropol V6. These natural-based ingredients, derived from upcycled forest terpenes, are designed to be biodegradable, promoting sustainability throughout their lifecycle.
In August 2024, Lignopure has secured €2.4 million in a new funding round, enabling the company to accelerate its mission of developing innovative lignin-based solutions that positively impact both the environment and human health.
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Segmentation of Upcycled Cosmetic Ingredients Market-
By Applications:
• Skin Care
• Hair Care
• Color Cosmetics
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
info@insightaceanalytic.com
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
Follow Us on LinkedIn @ bit.ly/2tBXsgS
Follow Us On Facebook @ bit.ly/2H9jnDZ
Twitter: https://twitter.com/Insightace
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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