Cosmetic Chemicals Market To Reach USD 27.94 Billion By 2027

The increasing use of cosmetics and the adoption of advanced technologies in the manufacturing processes have driven the demand for the market.

Market Size – USD 19.67 billion in 2019, Market Growth - CAGR of 4.7%, Market Trends – High demand from the Asia Pacific region.

The global Cosmetic Chemicals Market is forecast to reach USD 27.94 Billion by 2027, according to a new report by Reports and Data. The market is anticipated to witness an increase in demand from ethnic groups. Moreover, a rise in disposable income, coupled with growing awareness, will propel the demand for the market. In countries like the U.S., the annual per capita income was USD 33,706 in 2018, and it rose to USD 45,646 in 2019, which will allow people to spend more on quality products. People in the present world are becoming highly competitive; therefore, they have become very conscious about their personalities. Hence looking young and fit has become a primary issue of concern. Such issues of looking dynamic will propel the growth of this market.

Increasing investment in the research and development for cost-efficient products with the usage of available natural sources of raw material will further enhance the market growth. Moreover, these products are generally premium priced due to their attached psychological desire related to health benefits, which will further propel growth among populations with rising disposable incomes. As regions like the U.S. and Europe have populations possessing high disposable incomes, they are estimated to register higher growth rates.

The most significant application of this chemical is in dermatology. The rates of air pollution across the globe are rising due to industrialization and urbanization, and it causes early skin aging, dryness, wrinkles, acne, pigmentation, cellular damage, and hair fall. The rise in health issues caused by air pollution has encouraged both young and elderly populations to use cosmetics chemicals.

The COVID-19 impact:

The industry has witnessed a decline due to the COVID-19 pandemic, but the impact in this industry has not been as severe as seen in other industries. Due to the corona pandemic, people have reduced discretionary spending, the consumer behavior has shifted towards safe and durable products which have a lower risk of automation contamination, and durable shelf lives that help in rationing of consumer supplies are expected to perform better in the near future. Improving supply lines by strengthening the e-commerce channel along with offering at-home wellness products, which are highly suited in this volatile business environment, are major points of concern for brands.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cosmetic-chemicals-market

Further key findings from the report suggest 

• Hair Care is expected to grow during the forecast period. The global market for hair care is forecasted to exceed USD 210 Million by 2024. Parabens, QAC, FRP, and phenol derivatives have functional preservation properties. An increase in beauty awareness among consumers, along with the development of safe ingredients, will foster the demand of the market.
• The growing importance of the preservatives in cosmetics to increase shelf life coupled with the upgrading product quality and rising beauty awareness among the population has resulted in an increase in product sales, thus fostering the demand for market growth.
• Moisturizing agents are added to cosmetics to inhibit the loss of moisture and hydrate the skin. They help in retaining the moisture and give a perfectly smooth appearance to the skin. Among hair care products, moisturizing agents inflate the hair shaft and volumizes hair. Some of the compounds that provide the effect of moisture are acids, proteins, polysaccharides, and small molecules like glycerin, aloe vera, and sorbitol, among others.
• The consumers in the North American region are increasingly adopting a holistic approach to health and beauty. They are more driven towards beauty products, which have a touch of technological insights from healthcare as well as biotech companies, also known as a cosmeceutical. Along with this trend, the consumers in the region have become more ingredient-focused and are demanding products that use few chemicals and are free from sulfates, petrochemicals, and phthalate. This is anticipated to create lucrative growth opportunities for the industry.
• Key participants include BASF SE, Stepan Company, Cargill, Incorporated, P&G Chemicals, Symrise, DOW, Givaudan, Croda International Plc, Genomatica, Inc, and COBIOSA, among others.

For the purpose of this report, Reports and Data have segmented the global Cosmetic Chemicals Market on the basis of product, application, function, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

• Surfactants
• Film Formers
• Emollients & Moisturizers
• Preservatives
• Colorants & Pigments
• Emulsifying & Thickening Agents
• Single-Use Additives

Application Outlook (Revenue, USD Billion; 2017-2027)

• Hair Care
• Skin Care
• Oral Care
• Color Cosmetics
• Toiletries

Function Outlook (Revenue, USD Billion; 2017-2027)

• Moisturizing Agent
• Cleansing Agent
• Coloring Agent

Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
• U.S
• Canada
• Europe
• Germany
• U.K
• France
• BENELUX
• Rest of Europe
• Asia Pacific
• China
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• MEA
• Saudi Arabia
• UAE
• Rest of MEA