The latest report by IMARC, titled “Cosmetic Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, finds that the global cosmetic chemicals market size reached US$ 14.13 Billion in 2021. Cosmetics chemicals refer to various chemical substances procured from synthetic and natural sources. Some of the cosmetic chemicals include talc, formaldehyde, alcohols, lanolin, Ammonium lauryl sulphate (ALS) and mineral oil or waxes. In recent years, cosmetic chemicals have gained momentum as they possess moisturizing and cleansing properties. They are widely utilized in makeup, oral, fragrances, and other skincare and hair products for improving physical appearance, conditioning, nourishing and correcting body odor.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will further be integrated into the report.
Global Cosmetic Chemicals Market Trends:
One of the primary factors driving the market is the escalating demand for numerous personal care products and cosmetics, along with the exponential growth in the cosmetic industry. Additionally, the evolving beauty standards and the growing self-consciousness about physical appearance are creating a positive market outlook. Other than this, with the inflating income levels of the masses, there have been increasing sales of premium-quality personal care products, such as shampoos, shaving creams, lip balms, toothpaste, skin moisturizers and deodorants. This is increasing the demand for premium chemical-based cosmetic products. Besides this, the rising trend of producers using natural sources, such as bio-based ingredients or petroleum, for producing thickeners, emulsifiers, colors, and preservatives through complicated production procedures is boosting product demand. In line with this, the increasing social media penetration and various celebrity endorsements promoting skincare, cosmetics, and personal grooming products, including shampoos, lip balms, shaving creams, toothpaste, skin moisturizers, and deodorants, have accelerated the product adoption rate. Moreover, various research and development (R&D) activities performed by key players and the adoption of creative strategies, such as housing beauty studios with personalized beauty advisors, are propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 19.74 Billion by 2027, expanding at a CAGR of 5.60% during the forecast period (2022-2027).
- Based on the product type, the market has been segmented into surfactants, polymer ingredients, colorants, and preservatives.
- On the basis of the application, the market has been divided into skin care, hair care, make-up, oral care, fragrances, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Ashland Global Specialty Chemicals Inc., BASF SE, Bayer Aktiengesellschaft, Cargill Incorporated, Croda International pls, 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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