The global cosmetic chemicals market size reached US$ 14.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.55% during 2023-2028.
|Cosmetic Chemicals Market Size in 2022
||US$ 14.9 Billion
|Cosmetic Chemicals Market Forecast in 2028
||US$ 20.8 Billion
|Cosmetic Chemicals Market Growth Rate 2023-2028
Cosmetic chemicals refer to a blend of various chemical compounds that are extracted from several synthetic and natural sources. They involve emulsifiers, emollients, rheology, colorants and control and thickening agents, which aids in manufacturing cosmetic products in varying forms, including lotions, gel, pastes, tablets, and aerosols. These commodities exhibit cleansing, and moisturizing properties, due to which they are extensively used in fragrances, makeup, oral, and other hair and skincare products for enhancing physical appearance, nourishing, conditioning, cleansing and correcting body odor.
Cosmetic Chemicals Market Trends:
The significant expansion in the cosmetic industry, along with the escalating demand for various cosmetics and personal care products due to the evolving beauty standards and increasing self-consciousness regarding individual physical appearance is one of the key factors driving the cosmetic chemicals market growth. This is further supported by the rising social media influence regarding beauty standards and several celebrity endorsements promoting the use of cosmetics, skincare, and personal grooming products, which, in turn, is fueling the market growth. Furthermore, the increasing working population has contributed to the rising purchasing power and inflating sales of premium-quality personal care products, such as shampoos, shaving creams, lip balms, toothpaste, skin moisturizers and deodorants. In line with this, the easy availability and accessibility of these premium chemical-based cosmetic products across various online and offline retail channels is acting as another growth-inducing factor. Additionally, the shifting inclination of manufacturers toward natural sources, such as petroleum or bio-based ingredients for developing emulsifiers, thickeners, colors, and preservatives through complex production processes is also contributing to the market growth. Apart from this, the extensive research and development (R&D) activities and the widespread adoption of innovative strategies, including housing beauty studios with personalized beauty advisors, are aiding manufacturers in attracting a broader consumer base, thereby augmenting the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cosmetic chemicals market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and application.
Breakup by Product Type:
- Polymer Ingredients
Breakup by Application:
- Skin Care
- Hair Care
- Oral Care
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Ashland Global Specialty Chemicals Inc., BASF SE, Bayer Aktiengesellschaft, Cargill Incorporated, Croda International plc, Dow Inc., Eastman Chemical Company, Evonik Industries AG (RAG-Stiftung), Givaudan SA, Solvay S.A., Symrise AG, The Lubrizol Corporation (Berkshire Hathaway Inc.) and The Procter & Gamble Company.
|Base Year of the Analysis
||Product Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Ashland Global Specialty Chemicals Inc., BASF SE, Bayer Aktiengesellschaft, Cargill Incorporated, Croda International plc, Dow Inc., Eastman Chemical Company, Evonik Industries AG (RAG-Stiftung), Givaudan SA, Solvay S.A., Symrise AG, The Lubrizol Corporation (Berkshire Hathaway Inc.) and The Procter & Gamble Company
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