COSMETIC INGREDIENTS MARKET ANALYSIS

Cosmetic Ingredients MarketSize and Trends

The global cosmetic ingredients market was valued at US$ 1,8881.32 Mn in 2022 and is predicted to reach US$ 2,9846.31 Mn by the end of 2030, exhibiting a CAGR of 5.29% during the forecast period (2023 to 2030).

Figure 1. Cosmetic Ingredients Market Value Share (%), By Region, 2022

Among region,  Asia Pacific dominated the global cosmetic ingredients market in 2022, reporting to 39% market share in terms of revenue, followed by Europe and North America, respectively.   

 Market Trends

  Rising trend of using natural cosmetic ingredients, among manufacturers, is gaining traction in the market growth. For instance, in June 2019, BASF Care Creation introduced three new active ingredients for the beauty market, which uses the unique properties of the rambutan tree (Nephelium lappaceum), to offer unparalleled skin hydration and rejuvenation for today’s globally conscious consumers. Therefore, rising introduction of natural cosmetic ingredients is projected to fuel market growth over the forecast period.

Increasing number of merger and acquisitions by key market players around the globe for expanding their presence in the beauty market is projected to augment the market growth of cosmetic ingredients. For instance, in November 2019, Givaudan announced that it had signed an agreement to acquire the cosmetic business of Indena in order to strengthen Active Beauty’s global capabilities in botanically active cosmetic ingredients. This merger and acquisition is expected to foster market growth over the forecast period.