Cosmetic Ingredients Market, By Product Type (Surfactant, Emollient, Polymer, Oleo-chemical, Botanical Extract, Rheology Modifier, Preservatives, Antioxidant, Emulsifier and Stabilizer, Others), By Application (Skin Care, Hair Care, Makeup, Fragrance, Oral Care, Others), By Functionality (Cleansing Agents & Foamers, Aroma, Moisturizing, Specialty, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) -

Published In : Feb 2023

Code : CMI3212

Pages :120

Formats :

Excel and PDF

Industry : Cosmetic Ingredients

Market Challenges And Opportunities

Market Restraints

Strict regulations against the use of harmful chemical ingredients

Strict regulations against the use of harmful chemical ingredients is expected to hinder the market growth of cosmetic ingredients. For instance, in March 2019, California lawmakers introduced the landmark bill, noting that sale of cosmetic with toxic ingredients would be deemed illegal in the state. AB 495, the Toxic-Free Cosmetic Act, would be the first of its kind in the country. Therefore, introduction of such strict laws is expected to hinder the market growth of cosmetic ingredients.

Rising environmental concerns such as issues related to waste chemical compounds from cosmetic ingredients manufacturing facilities, that are harmful to the environment, is expected to act as a restraint for setting-up new cosmetic ingredients manufacturing plants in the near future. For example, some cosmetic ingredients such as P-phenylenediamine, BHA and BHT that are widely used in cosmetic products, such as hair color and lipsticks, are harmful to the marine ecosystem. This is expected to curb the market growth of cosmetic ingredients.

Drivers

Rising demand for specialized skincare products

Rising demand for specialized skincare products is projected to fuel the market growth of cosmetic ingredients over the forecast period. For instance, in April 2019, Dow launched its personal care ingredient innovations at booth K80. This includes Dow’s first bio-based hair fixative, Maize Care Style Polymer, Planet savvy DOWSIL FA PEPS Silicone Acrylate, and EPITEX9 Polymer, the company‘s brand new hybrid film former. Therefore, the growing demand for a specialized skin care product is projected to foster the market growth of cosmetic ingredients.

Increasing launch of new cosmetic ingredients is expected to drive the market growth of cosmetic ingredients. For instance, in April 2018, BASF presented new ingredients for skin and hair care products that have been proven to help, protect, and rebalance the skin and to slow down the hair aging process. These products help the manufacturers of personal care products to respond to current market trends and meet the consumers’ demand for the products supporting their lifestyle.

Market Opportunities

Growth of middle-class population in emerging economies, especially in the Asia Pacific, is expected to represent a lucrative opportunity to the cosmetic ingredients market. According to the European Commission, the size of the global middle class people increased from 1.8 billion in 2009 to about 3.5 billion people in 2017 that is more than half of the world population and this number is expected to grow to 4 billion by 2021 and reach 5.3 billion by 2030. Hence, this factor is projected to offer immense growth opportunities to the cosmetic ingredients market. Expanding e-commerce sale in emerging nations such as Brazil, South Africa, China, India, Mexico, Western European countries are projected to foster the market growth of cosmetic ingredients.