Cosmetic Ingredients Market Demand Increases Due to Rise in Demand for Skin Care and Hair Care Products For 2024

The cosmetic ingredients market is showing a significant growth in the recent years. With the rising consciousness of physical appearances which in turn is found to boost the self-confidence of people is resulting to the growth in the cosmetic ingredients market during the forecast period. Proper cosmetic formulation with specific chemicals has become an important factor in recent years. Any kind of impurities on the formulation of the cosmetic ingredients market is strictly banned due to safety of the consumers across the globe. Various companies are investing on different projects through research and development to innovate new products and to attract large sections of population and increase the profitability.

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Among the product innovation, the two things regarding products, which are given prior importance, are time saving products and long lasting products. Time saving products are gaining prime importance as it attracts a large section of busy population in recent years, boosting the growth of the global cosmetic ingredients market. A lot of research is done to focus on the chemicals of cosmetics such as drying nail polish, facial wash, and shaving foam among others. Rapid urbanization, change in lifestyle, and inclination toward several good brands are propelling the cosmetic ingredients market in recent years.

On the basis of type, the cosmetic ingredients market is segmented into polymers, emulsifiers, surfactants, UV absorbers, anti-microbial, emollients, and others. The polymer segment showed the fastest growth followed by the surfactant segment during the forecast period. On the basis of application, the market is segmented into skin care, moisturizing, hair care, fragrance, makeup, oral care, and others. The skin care segment held the prime market share owing to the increasing consciousness toward protection of skin and outer appearance among the large sections of the population in recent years. By functionality, the global cosmetic ingredients market is segmented into cleansing and foaming agent, moisturizing, toners, and others. The moisturizing segment holds a significant share, and thus this is boosting the cosmetic ingredients market.

On the basis of region, the global cosmetic ingredient market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is showing a fast growth due to the emerging economics such as China and India. Consciousness toward self-confidence and improvement of the outer physical features are boosting the market during the forecast period. Growing demand for quality beauty products of several brands which are environment friendly to enhance the physical appearance has become the prime importance in recent years. In addition, rising demand for organic cosmetic ingredients is further booming the market of cosmetic ingredients globally. Western Europe is showing a significant market share over the years and is mainly due to the rise in demand for skin care and hair care products. Brazil has shown an impressive growth in the cosmetic ingredients market followed by Latin America. Rapid urbanization from developed and developing countries is further resulting to the growth of the market. However, hindrances such as ban of several ingredients into cosmetic products to ensure safety to the large sections of population have also been observed in the global cosmetic ingredients market. Demand for cosmetic products from both developed and developing countries are generating opportunities for the market during the forecast period.

Global key participants operating in the global cosmetic ingredients industry include BASF SE, The Dow Chemical Company, Eastman Chemical Company, Croda International Plc, Ashland Inc, DuPont Tata & Lyle Bio Products, Sumitomo Group, and Sederma Inc, Rhodia.

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