The importance of beautification to the mankind is considered as the primary driver for the growth of cosmeceutical ingredients market across the globe.
The cosmeceutical ingredients market is dominated by synthetic cosmeceutical ingredients however the natural cosmeceutical ingredients market is expected to expand at higher CAGR (10.8%) as compared to synthetic during the forecast. Rising concern of side effects of synthetic ingredient products have shifted the consumer’s attention towards natural ingredient products which will accelerate the natural cosmeceutical ingredients market. The global cosmeceutical ingredients market will surpass ~US$ 12 Bn in terms of value in 2027 with a CAGR of ~9% during the forecast.
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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Key Takeaways from the Cosmeceutical Ingredients Market Study
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.
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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.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Aug 09, 2022