Market Overview
The global cosmetic ingredients market was valued US# XX million and estimated to grow at a CAGR of XX% during the forecast period (2023-2030) to reach a value of US$ XX million in 2030.
The market is growing as individuals are actively choosing cosmetic ingredients that specifically address their unique skin concerns and their different preferences, which led to the development of several new and consumeroriented ingredients in the market.
Retinol which is known for its remarkable anti-aging effects is used to effectively improve skin texture, reduce wrinkles and evens out skin tone.
Collagen is in demand for its ability to restore skin firmness and elasticity and provides an effective solution for wrinkles and skin hydration.
In March 2023, Symrise announced the launch of a new line of diana food bioactives designed for use in "Beauty from within" products, targeting the nutricosmetics market. The range of innovative nutricosmetic ingredients complements traditional beauty routines and includes solutions for skin antiaging, skin brightening, hair care, and nail care.
Market Dynamics
Growth in Natural Cosmetic Ingredients Market Driven by Consumer Demand and Innovations
The global market for cosmetic ingredients is experiencing substantial growth, primarily driven by increasing consumer demand for natural and sustainable beauty products. Asia-Pacific and Europe are significant markets for natural cosmetics ingredients, making it particularly appealing to suppliers.
The consumers are increasingly seeking natural ingredients like vegetable fats and oils, essential oils, and botanical extracts for their beauty and skincare products. The use of botanical extracts is on the rise, with an ongoing quest to discover new plants with cosmetic properties. However, safety studies and efficacy assessments are crucial for determining the safe and effective usage concentrations of these extracts.
In February 2022, Merck has unveiled two new cosmetic ingredients, RonaCare Baobab and RonaCare Hibiscus, inspired by nutrient-rich superfoods. These botanical extracts are sourced ethically, approved by COSMOS, and meet ISO 16128 standards, making them suitable for a wide range of topical products, including daily skincare and dermocosmetics. The ingredients are vegan, Halal certified, and derived from 100% natural sources, providing powerful benefits for youthful and beautiful skin.
DayGlo Color Corp. has introduced the Elara Luxe pigment collection, featuring fluorescent pigments for cosmetics made from all-natural rice protein. The FDA-compliant, all-natural pigments are vegan, kosher, halal certified and biodegradable, with about 97% of their source material derived from non-GMO renewable plant sources. The collection is available in seven different colors, providing cosmetic and personal beauty care product manufacturers with all-natural options for sustainable and clean ingredients
Segmentation Analysis
The global cosmetic ingredients market in skin care was valued at US$ XX million in 2022 and is estimated to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period from 2023-2030.
In the cosmetic ingredients market, skincare stands out as the dominant segment, driven by the ever-evolving demands of informed consumers. The sector is marked by a quest for inclusivity, transparency, and specialized solutions.
Modern consumers seek skincare products that not only enhance their appearance but also contribute to their overall well-being and environmental consciousness. They desire practical, easy-to-use products while also valuing customization options to express their unique identities. The skincare industry is a hotbed of innovation, introducing new ingredients and trends.
In growing world, several notable ingredients are expected to make a significant impact. Sunflower oil, prized for its non-comedogenic and moisturizing properties, is gaining prominence.
In June 2023, Clariant introduced a holistic beauty concept named "The Joyologist" to address the growing focus on mental wellness among consumers. Leveraging their latest cosmetic ingredient launches, Clariant launched two mood-boosting skincare formulations under this concept. "The Feel-Good Magic Stick" is a water-based gel stick designed for anytime of use, providing a cooling sensation and revitalizing the skin with Clariant's new active ingredient, Rootness Mood+. It also contains B-Circadin to resynchronize the skin's biological clock and HerbEx Curcuma Extract to enhance stress resilience.
Geographical Analysis
Asia-Pacific Cosmetic Ingredients Market was valued at US$ XX million in 2022 and is projected to grow at a CAGR of XX% over the forecast period to reach US$ XX million by 2030.
APAC has solidified its position as a global dominance in the cosmetics and personal care sector, with the birthplace of beauty movements like K-Beauty, J-Beauty, and C-Beauty. The APAC region is expected to contribute to over 67% of the global industry's growth, reaching a projected value of US$547 billion (US$) by 2027, as per SpecialChem article.
In 2023, one of the key trends to be discussed is hair care. Hair care is becoming increasingly significant in APAC, with online searches for hair care surpassing those for skin care and makeup. A study by Covalo found that 55% of professionals in the region were searching for applications and active ingredients related to hair care, compared to 36% globally. Scalp care is a particularly overlooked segment in hair care and is often responsible for hair problems like dandruff and itchiness. M
Another major focus is sustainability, which has gained momentum in the APAC region. The sustainability movement encompasses aspects like supply chain traceability, green chemistry principles, and upcycled ingredients. The demand for cleaner products among eco-conscious consumers has put halal beauty in the spotlight.
In Indonesia, where halal certification will be mandatory by October 2026, the market for certified beauty products has grown significantly, and further growth is expected in 2023, especially in Malaysia. Brands like Shiseido and Estée Lauder are contributing to the increasing availability of halal beauty products
