The global cosmetic isoparaffins market was valued at US$ 68.7 million in 2019, according to the Global Cosmetic Isoparaffins Market Report, by Product Type (Isododecane, Isohexadecane, Isoeicosane, and Others), by End Use (Hair Care, Skin Care, Lip Care, Antiperspirants & Deodorants, Sun Care, Color Cosmetics, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global cosmetic isoparaffins market is expected to surpass US$ 95.1 million by 2027, exhibiting a CAGR of 4.7% during the forecast period (2020-2027). Isoparaffins are primarily used as solvents in the cosmetic industry. It is also used as skin conditioning agents and viscosity decreasing agents. Thus, different applications of isoparaffins in the cosmetic industry is driving growth of the cosmetic isoparaffins market, globally.
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https://www.coherentmarketinsights.com/market-insight/cosmetic-isoparaffins-market-4003
Browse 40 market data tables* and 20 figures* on "Cosmetic Isoparaffins Market” - Global forecast to 2027.
Key Trends and Analysis of the Cosmetic isoparaffins Market:
Europe held dominant position in the global cosmetic isoparaffins market in 2019, reporting 34% market share in terms of value. Cosmetic isoparaffins are extensively used in color cosmetics in the region. According to a report titled ‘Cosmetics Europe- the personal care association‘, in 2016, Europe was the leading producer of personal care and cosmetic products and accounted for revenue of US$ 87.38 billion (out of the total US$ 295.05 billion) in the global cosmetics and personal care market. Furthermore, as per the same source, in 2018, France and Germany were dominant in the Europe cosmetics and personal care industry with a revenue of US$ 15.46 billion and US$ 12.77 billion, respectively. This increase in manufacturing activities of cosmetics is expected to drive demand for cosmetic isoparaffins in the region.
Key Takeaways of the Market:
- Among end use, the color cosmetics segment accounted for 38% of the value share in 2019. Color cosmetics include different categories of products for eyes, cheek, and lips, among others. Increasing consumption of color cosmetic products, owing to increasing focus on aesthetic beauty and rising disposable income of the population results in growth of the cosmetic isoparaffins market. According to Coherent Market Insights’ analysis, the global color cosmetics market was valued at US$ 62.36 billion and is expected to reach US$ 90.16 billion by 2025, witnessing a CAGR of 4.22% over the forecast period (2017 - 2025).
- Isohexadecane is used in personal care products such as sun care products, lip care products, deodorants and antiperspirants, and makeup removers, among others, as it leaves a non-greasy feel on the skin. Therefore, rising demand for above mentioned products is expected to increase demand for isohexadecane during the forecast period.
- Major players operating in the global cosmetic isoparaffins market include Croda International Plc., INEOS Group Limited, Elementis PLC, The Innovation Company, Rita Corporation, Lanxess AG, Presperse Corporation, and Nihon Koken Kogyo Co., Ltd.
Global Cosmetic Isoparaffins Market - Impact of Coronavirus (Covid-19) Pandemic
- Nationwide lockdowns and social distancing measures implemented by countries such as India, U.K., Italy, Spain, Russia, Malaysia, Singapore, and Saudi Arabia have negatively impacted demand for fragrances and color cosmetics in these countries. Sales of Kao Corporation’s cosmetics business segment decreased by 11.4% in the first quarter of 2020 compared to the first quarter of 2019. A significant decrease in sales of color cosmetics and premium cosmetics is expected to negatively impact demand for cosmetic isoparaffins used in color cosmetics products such as mascara, eyeliner, eyeshadow, foundation, and others, thereby negatively affecting the market growth.
