Press release
Global Cosmetic Chemicals Market to Reach USD 29.65 Billion by 2030 Amidst Rising Demand for Natural Products
The global cosmetic chemicals market, valued at USD 18.97 billion in 2023, is projected to reach USD 29.65 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 6.59% during the forecast period.
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Market Overview
Cosmetic chemicals, encompassing surfactants, emulsifiers, emollients, and preservatives, are integral to personal care products. The surge in consumer preference for natural and organic cosmetics is propelling market growth. Notably, the Asia-Pacific region is experiencing unprecedented expansion, fueled by a burgeoning middle class and increased disposable incomes, with emerging markets like India and China playing pivotal roles.
Competitive Landscape
The market features prominent players such as Dow, BASF SE, Evonik Industries AG, Nouryon, and Kao Corporation. These companies are leveraging extensive manufacturing capabilities and global distribution networks to maintain a competitive edge.
Regional Demand
Asia-Pacific leads the global demand for cosmetic chemicals, particularly driven by skincare applications. The region's rapid economic development and increasing consumer spending on personal care products contribute significantly to this dominance.
Mergers and Acquisitions
The cosmetic chemicals industry has witnessed strategic mergers and acquisitions aimed at enhancing product portfolios and expanding market reach:
Vietnam: Emerging Opportunities in the Cosmetics Sector
Vietnam's cosmetics market is predominantly import-driven, with South Korea leading at 30% market share, followed by the EU (23%), Japan (17%), Thailand (13%), and the US (10%).
Thailand: Growth Through Foreign Direct Investment
Thailand remains a major destination for foreign direct investment, with numerous U.S. companies successfully establishing operations, indicating a favorable environment for cosmetic chemical enterprises.
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Japan: Trends in Biotech Innovation
Japanese companies are increasingly integrating biotechnology into cosmetic formulations, focusing on sustainable and traceable ingredient sourcing to meet evolving consumer preferences.
South Korea: Consolidation in the Beauty Industry
South Korean beauty conglomerate Amorepacific has been actively pursuing global expansion through strategic acquisitions, including the purchase of U.S. premium skincare brand Tata Harper, aiming to strengthen its presence in the global beauty market.
Singapore: Opportunities in Premium Skincare
Singapore's demand for premium skincare products is on the rise, attracting luxury brands to expand their presence and cater to discerning consumers seeking high-quality cosmetic products.
United States: Growth Through Innovation
In the United States, companies like Dow and Stepan Company are investing in research and development to introduce innovative cosmetic chemicals, maintaining a competitive edge in the market.
China: Trends Toward Natural Ingredients
Chinese consumers are increasingly favoring cosmetic products formulated with natural and organic ingredients, prompting companies to adapt their product offerings to align with this preference.
Europe: Market Consolidation via Strategic Mergers
European companies are engaging in strategic mergers to consolidate their positions in the cosmetic chemicals market. For instance, Firmenich, a Swiss fragrance giant, merged with Dutch chemicals group Royal DSM to create a €40 billion global conglomerate, aiming to drive biotech innovation in the beauty sector.
Key Recent Developments
Firmenich and Royal DSM Merger: In a landmark deal, Firmenich merged with Royal DSM, forming a €40 billion conglomerate focused on advancing biotechnology in the beauty industry.
Amorepacific's Acquisition of Tata Harper: South Korean beauty giant Amorepacific acquired U.S. premium skincare brand Tata Harper, enhancing its portfolio in the premium skincare segment.
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Cosmetic Chemicals Market Classifications
by Product Type
Surfactants
Colorants
Preservatives
Emulsifiers
Polymer Ingredients
by Application
Skin Care
Hair Care
Oral Care
Makeup
Fragrances
Others
For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/cosmetic-chemicals-market/126803/
The following companies are included in the market for Cosmetic Chemicals :
• Dow
• Givaudan
• Ashland Inc.
• Eastman Chemical Company
• Lonza Group
• BASF SE
• Lanxess
• P&G Chemicals
• Solvay S.A.
• Evonik Industries AG
• Bayer AG
• Croda International plc
• Stephan Company
• Symrise
• Cargill
• Others
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