The global cosmetic bioactive ingredients market is estimated to garner a hefty amount of revenue by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing usage of cosmetic products among men and women in their daily routine, coupled with growing awareness levels about healthy skin and hair. In 2020, the total global beauty industry spending was amounted at about USD 450 billion, which is evaluated to reach a value of USD 700 billion by the end of 2025. Also, the cosmetics industry has observed an annual growth of more than 4%. Along with these, cosmetic bioactive ingredients have several functions such as whitening, tanning, UV protection and anti-wrinkling. Over the last two decades, the demand for anti-aging products is witnessing a significant upsurge, which is also expected to drive market growth in the forthcoming years. Furthermore, rising number of launches of cosmetic products, and surging utilization of natural ingredients in cosmetics is projected to offer lucrative opportunities to the market in the near future.
The market is segmented by ingredient into peptides, polysaccharides, phytochemicals, vitamins, antioxidants, essential oils, and others, out of which, the peptides segment is anticipated to hold the largest share in the global cosmetic bioactive ingredients market. This can be accounted to the fact that peptides significantly help in reducing wrinkles, easing inflammation, minimizing breakouts and promoting a healthier skin. Apart from these, peptides also facilitate faster wound healing, which is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of category, the skin care segment is assessed to acquire the largest share during the forecast period ascribing to the rising usage of skin care products, especially among millennials, and growing concerns regarding skin-related problems among people in the world. CLICK TO DOWNLOAD SAMPLE REPORT
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Regionally, the global cosmetic bioactive ingredients market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the rapidly growing urbanization, which in turn is evaluated to fuel the demand for luxury care products in the region. According to the World Bank, the total percentage of urban population in the East Asia & Pacific region reached 60.698% in 2020, up from 59.889% in 2019 and 59.053% in 2018 respectively. In addition, rising penetration of global brands is also expected to drive the market growth in the region in the coming years. Moreover, the market in North America is projected to occupy the largest share during the forecast period owing to the increasing production of cosmetic products, and strong presence of prominent market players in the region.
The global cosmetic bioactive ingredients market is further classified on the basis of region as follows:
Our in-depth analysis of the global cosmetic bioactive ingredients market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing usage of cosmetic products among men and women in their daily routine, and growing awareness levels about healthy skin and hair.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022-2031.
Rising consciousness about side-effects of cosmetics is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the rapidly growing urbanization, which in turn is evaluated to fuel the demand for luxury care products in the region.
The major players in the market are Symrise AG, Solvay S.A., The DOW Chemical Company, Evonik Industries AG, Lonza AG, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by ingredient, category, application, and by region.
The peptides segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
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