Growing Demand for Plant-Based Skincare Drives Bakuchiol Market Towards US$ 16.36 Million by 2033

Bakuchiol Market

Bakuchiol, a natural compound derived from the Psoralea corylifolia plant, is gaining attention as a plant-based alternative to retinol in skincare. It’s known for its ability to reduce signs of aging, such as fine lines and wrinkles, without the skin irritation often associated with retinol. Bakuchiol offers a gentle, yet effective, solution for skincare enthusiasts seeking natural anti-aging benefits.

The bakuchiol market size is anticipated to reach a value of US$ 8.80 million by 2023 and record a significant CAGR of 6.4% from 2023 to 2033. The bakuchiol industry is projected to grow to a value of US$ 16.36 million by 2033.

The primary reason for accelerating the bakuchiol industry is the rising demand for it as a safe, natural substitute for retinoids. The growth of the pharmaceutical and cosmetics sectors in emerging nations has increased the demand for bakuchiol.

Demand from Consumers for Natural and Plant-based Ingredients is Rising

Customers are favoring natural and plant-based skincare products more and more. Retinol, frequently used in skin care products but can irritate the skin, has a natural substitute called bakuchiol, made from the babchi plant’s seeds. The demand for bakuchiol has increased as consumers become more interested in natural and plant-based skincare products.

An Increase in Interest in Ethical and Sustainable Beauty

Consumers are looking for beauty products consistent with their ideals as ethical and sustainable practices become more important. Being a plant-derived component, bakuchiol is viewed as a sustainable and environmentally beneficial substitute for artificial skincare chemicals. The increasing interest in eco-friendly and moral beauty products spurs the bakuchiol industry.

Transformation to Clean and Green Beauty

The clean beauty movement encourages using natural and non-toxic chemicals, which have recently gained popularity. Bakuchiol is a natural substance that falls under the neat beauty umbrella and is desired by customers looking for more secure substitutes for traditional skincare products. The trend toward natural beauty has increased demand for bakuchiol.

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Increase in Distribution Channels

The market has grown as a result of the accessibility of skincare products based on bakuchiol through a variety of distribution channels. Many retail outlets, internet marketplaces, specialty beauty shops, and even some medical and aesthetic clinics provide these items. The availability of bakuchiol has improved thanks to the expansion of distribution channels, which has also raised bakuchiol demand.

Regulatory Obstacles

The regulatory environment surrounding Bakuchiol may make it difficult for the market to expand. Regulations and specifications for cosmetic substances differ between nations and regions. Ensuring compliance with these rules may be time-consuming and expensive for skincare manufacturers. Expanding the bakuchiol market could be easier with unified laws and clear guidelines specifically for bakuchiol.

Retinol and other Compounds Compete with it

Because of its demonstrated effectiveness in treating a range of skin issues, retinol has long been regarded as a gold standard component in the skincare sector. Bakuchiol is promoted as a natural retinol substitute.

Retinol-based products are a serious rival. It is difficult for bakuchiol-based products to stand out in a competitive market because there are many alternative skincare compounds with various claims and advantages.

Regional Outlook

During the forecast period, the bakuchiol market is anticipated to develop quickly in the Asia Pacific region. Due to increased disposable income levels and shifting consumer lifestyles, the cosmetics business in the area is predicted to grow significantly. The presence of several small and medium-sized enterprises (SMEs) is boosting market expansion in the haircare and skincare industries.

Another significant bakuchiol industry may be in North America. Customers’ increased preference for natural and organic cosmetics in the area surges the demand for goods based on bakuchiol. The growing understanding of the advantages of using plant substances in cosmetics improves the region’s sales value.

Key Takeaways in Bakuchiol Market Report:

  • Between 2023 and 2033, the cosmetics segment to be the leading application category in the bakuchiol market.
  • From 2023 through 2033, the oil-based segment dominates the form category in the bakuchiol industry.
  • From 2023 to 2033, the Natural bakuchiol sector commands the type category in the bakuchiol business.

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Competitive Analysis

The bakuchiol market, a natural retinol alternative made from plants, was subject to intense rivalry because of its acceptance in the cosmetics industry. A range of products, including serums and lotions, was released by both established and up-and-coming skincare companies, using aggressive marketing to draw customers. The competitive environment was spurred by the increased knowledge of bakuchiol advantages.

Recent Advancements

  • US$ 345,757 in Grants from CABRI Fund Research on Rare Diseases

The Cayman Chemical Company has set aside US$ 345,000 in grants to aid in the study of uncommon diseases. The funding is intended to increase medical knowledge and potential cures for these unusual illnesses.

  • Sytheon Expands Synoxyl AZ’s Purpose

The uses of Synoxyl AZ, a substance made from acetyl zingerone and its analogs, have been expanded by Sytheon researchers to include the hair care industry. These substances are being researched for their potential to address various hair care issues and offer possible advantages for the health of the hair.

Key Bakuchiol Manufacturers

  • The Nature’s Co.
  • Wildcraft
  • Juve Beauty
  • Sederma
  • Anecdotal
  • Snow Lotus
  • Indena S.p.A.
  • Naturalin Bio-Resources Co., Ltd

Key Segments in Bakuchiol Market Report:

By Form:

  • Oil-based
  • Cream-based
  • Serum-based
  • Plant-based

By Type:

  • Natural
  • Semi-Synthetic
  • Completely Synthetic

By Application:

  • Cosmetics
  • Therapies
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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