For cosmetics and body care products, specialised cosmetic ingredients are the distinctive compounds that give the final product a particular characteristic. As well as forecasts for value (US$ Mn) and volume (Tons), the study on the global market for specialised cosmetic ingredients also includes specific information on recent developments for the years 2019 to 20276.
Emollients and surfactants, conditioning polymers, rheology control agents and UV absorbers are some of the product types that make up the worldwide specialised cosmetic ingredients market. The distinctive qualities of these speciality cosmetic chemicals include foaming and water resistance. Special cosmetic compounds are used in a wide range of products, including hair care, skin care and cosmetics for the face and body.
As of 2017, the global market was valued at US$ 9595.3 million, and the future term is predicted to have a CAGR of 4.4%. There has been an increase in the use of cosmetics and personal care items, as well as an increase in developments and innovations in end products.
Synthetic chemicals are separated from natural/herbal compounds and cosmetic-specific ingredients in their own categories. When it comes to total market share, the natural/herbal ingredient sector has taken the top spot, accounting for roughly 46.8% of the total market share for cosmetic components.
Herbal cosmetic products have arisen as a safer alternative to chemicals and offer a number of advantages, including less adverse effects on the body and hormonal stability, among others.
This has resulted in a rise in the popularity of herbal cosmetics. In order to meet the increased demand, manufacturers have been forced to increase their use of herbal cosmetic ingredients.
Europeans, North Americans, Latin Americans, Asia Pacific, and the Middle Eastern and African countries make up the largest chunk of the global market for cosmetic ingredients. The cosmetic ingredients market is currently dominated by Europe, followed by North America.
In addition to industry consolidation, the rising per capita consumption of cosmetics around the world has seen significant rise. Consumers’ increased ability to spend more on personal care and cosmetics, a result of improving economic conditions around the world, has contributed to this rise in spending. Cosmetics and personal care products’ seasonality has also increased demand for speciality cosmetic components globally.
Organic and natural specialty cosmetic ingredients research and development possibilities are likely to drive the global specialty cosmetic ingredients market at a high rate in the near future. This is due to the increasing preference of consumers for natural components in cosmetics. The worldwide specialised cosmetic ingredients market is predicted to see a rise in innovation and new product development, which will allow industry players to increase their product portfolios.
Companies in the Cosmetic Ingredients Market Seeking to Create Holistic, Sustainable Products
Croda International PLC, Clariant AG, Ashland Worldwide Specialty Chemicals Inc., and Sovay SA are some of the major competitors in the global cosmetic ingredients industry. Cosmetic ingredients market participants are working on creating holistic and environmentally friendly cosmetic products.
A number of players are attempting to manufacture environmentally friendly products in order to obtain an advantage over their competitors. Cosmetic ingredients market manufacturers are also working on ways to lower the carbon footprint of various chemicals in the product development process.
Leading players in the global cosmetic ingredients market are introducing several new products with detailed information on production methods and health benefits. Analysts believe that product innovation and appropriate pricing strategies could help market players improve their position in the current landscape.