The requirement for cosmetic products has surged sharply in recent years, owing to the increasing disposable income of people and their rising consciousness toward looks and appearance. The increasing concerns being raised over physical appearance, hair loss, gray hair, and skin health and rapidly evolving hairstyling trends are making people spend heavily on cosmetics. Moreover, the soaring investments being made by cosmetic producers, such as Eastman Chemical Company, The Dow Chemical Company, Croda International Plc, Givaudan S.A., Evonik Industries AG, Bayer AG, and Lonza Group, on the commercialization of premium skincare, personal care, beauty products, and haircare, are also driving the cosmetic chemicals market.
Additionally, the rising public awareness about various superior beauty products, grooming therapies, and treatment procedures, evolving fashion trends, and mushrooming population of urban people, especially millennials, are also fueling the expansion of the cosmetics industry, which is, in turn, augmenting the demand for cosmetic chemicals around the world. Many organizations are conducting exhaustive research and development (R&D) activities in order to develop innovative and advanced products, thereby propelling the cosmetic chemicals market to unprecedented heights. P&S Intelligence, a market research organization based in India, found that the value of the industry reached $20.0 billion in 2020 because of these factors.
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Emollients and moisturizers, emulsifying and thickening agents, colorants and pigments, non-ionic, cationic, amphoteric, anionic, and surfactants are the most widely used cosmetic chemicals across the world. Amongst these, the demand for emollients and moisturizers was observed to be the highest in the past, owing to the fact that emollients, such as glycerin, zinc oxide, mineral oil, petrolatum, and olive oil, are heavily used for producing lotions, lipsticks, creams, and moisturizers.
Fragrances, hair care, skin care, and make-up are the major application areas of cosmetic chemicals. Out of these, the use of these chemicals was the highest in skin care applications in the years gone by, and it will rise even more in the forthcoming years. This is attributed to the burgeoning requirement for sunscreens, body lotions, and face creams all over the world and increasing R&D activities being carried out by cosmetic chemical producers for expanding their product portfolio.
Globally, the sales of cosmetic chemicals were found to be the highest in the Asia-Pacific (APAC) region during the last few years. This was because of the existence of several large- and small-scale cosmetic producers and suppliers of various associated chemicals in the region. Additionally, cosmetic chemical producers in the region are increasingly focusing on developing technologically advanced ingredients for producing advanced cosmetic products. Across the world, cosmetic chemicals market players are focusing on product launches to augment their revenue and expand their customer pool. For example, BASF SE developed Luviset 360, which is a new styling polymer that provides styling performance in six unique ways, in May 2020.
Browse detailed report on Cosmetic Chemicals Market Research Report Detailed Analysis On The Basis Of Application, Latest Trend, Region And Growth Forecast To 2030
Thus, the demand for cosmetic chemicals will undoubtedly shoot up in the upcoming years, primarily because of the booming sales of cosmetic products all over the world.
Market Size Breakdown by Segments
By Product Type
- Surfactants
- Anionic
- Cationic
- Non-ionic
- Amphoteric
- Emollients & Moisturizers
- Colorants & Pigments
- Preservatives
- Emulsifying & Thickening Agents
By Application
- Skin Care
- Hair Care
- Make-Up
- Oral Care
- Fragrances
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Arabia
- South Africa
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