The global cosmeceutical ingredients market is dominated by synthetic ingredients, but natural cosmeceutical ingredients are projected to grow at a higher CAGR (10.8%) compared to synthetic counterparts. The market is anticipated to surpass a value of ~US$ 12 Billion by 2027, exhibiting a CAGR of ~9% during the forecast period.
The importance of beautification to the mankind is considered as the primary driver for the growth of cosmeceutical ingredients market across the globe. Cosmeceutical products reduces the gap between cosmetics that simply cleanse & enhance the appearance and pharmaceuticals that cure and heal. Growing product awareness among consumers have propelled the demand for skin & hair beneficial products in the market which in result drives the necessity of cosmeceutical ingredients.
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East Asia is anticipated to secure the highest value share (30.4%) by 2027 due to a substantial consumer base for cosmetic products, urban population growth, and the presence of numerous Chinese players in the region. The rise of J-beauty and K-beauty trends from Japan and South Korea is also expected to boost the adoption of cosmeceuticals, prompting manufacturers to introduce more cosmeceutical products into the market.
Key Takeaways from the Cosmeceutical Ingredients Market Study
- According to the report, the global cosmeceutical ingredients market represents a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on the development of cosmeceutical ingredients. L’Oréal, a European cosmetic manufacturer, uses hyaluronic acid which is an active ingredient used in products such as anti-ageing creams.
- FMI identifies North America as the largest market for cosmeceutical ingredients in 2019, followed by Europe, attributable to higher demand from cosmetic products such as skincare and haircare. The awareness level is also high of North American consumers as compared to other region. Growing demand for cosmetic products, rising product awareness and increasing popularity of J-Beauty and K-Beauty are the factors will drive the East Asia market forward and is expected to expand at highest CAGR during the forecast.
- Growing product awareness, changing lifestyle and rapid urbanization fuel the demand for cosmeceutical products which has resulted to an increasing demand for cosmeceutical ingredients among cosmetic manufacturers.
- Skincare segment in cosmeceutical products are the most demanded product among consumers which further increases the demand for cosmeceutical ingredients among cosmetic manufacturers.
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The cosmeceutical ingredients market has increased on account of increasing consumers concerns regarding the negative effects of using synthetic ingredient cosmeceutical products. In addition to this, growing trend of natural products have a positive impact on cosmeceutical products market which further drives the demand for cosmeceutical ingredients among manufacturers.
Who is winning?
Some of the key players operating in the cosmeceutical ingredients market are Eastman Chemical Company, BASF SE, SEPPIC, Solvay S.A., The Dow Chemical Company, Lonza Group AG, The Lubrizol Corporation, Ashland Incorporated, Croda International plc, Robertet, Allergan Incorporated, COBIOSA, Select Botanical, NEXIRA and others.
Several leading cosmeceutical ingredients manufacturers are focusing on R&D to come up for new formulations which can change the market landscape of cosmeceutical products. Growing demand for natural ingredient based cosmeceutical products are booming in the market. Advancement in technology acts as a primary driver for manufacturers. Extraction of ingredients are performed through traditional and avant-grade technological extraction however majority of manufacturers use modern avant-grade technological process as preferred method of cosmeceutical extraction.
Cosmeceutical Ingredients Market Taxonomy
The global cosmeceutical ingredients market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
By Ingredient Type
- Sunscreens Ingredients
- Antioxidants
- Hydroxy acids
- Retinoids (vitamin A)
- Skin lightening agents
- Botanicals
- Peptides and proteins
- Others
By Source
- Natural
- Synthetic
By Form
- Powder
- Liquid
By Application
- Skin care
- Haircare
- Oral Care
- Others (Makeup & Fragrances)
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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