Global Active Ingredients for Cosmetics Market to Reach $4.7 Billion by 2026

SAN FRANCISCO , April 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Active Ingredients for Cosmetics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 8; Released: February 2022
Executive Pool: 11733
Companies: 61 - Players covered include Ashland, Inc.; BASF SE; Clariant AG; Croda International Plc; Evonik Industries AG; Gattefossé SAS; Givaudan SA; Lonza; Lucas Meyer Cosmetics; Nouryon; Seppic SA; Symrise AG and Others.
Coverage: All major geographies and key segments
Segments: Application (Skin Care, Hair Care); Functionality (Conditioning Agents, UV Filters, Anti-Aging Agents, Skin Lightening Agents)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Active Ingredients for Cosmetics Market to Reach $4.7 Billion by 2026

Cosmetics are substances aimed at providing aesthetic beauty to the body. The industry makes use of a number of chemical ingredients in cosmetics to obtain the desired properties. While there are more than 5,000 chemical ingredients used by the industry, the ingredients, generally, fall into different groups with each such group performing a distinct function. An active cosmetic ingredient refers to an ingredient that is designed to address the skin or hair concern that it is meant to target. An ingredient that is designed to bring about a significant change in cosmetic skin or hair parameters is an active ingredient. Active ingredients for skin care products include topical exfoliants, sun filters, antioxidants, retinoids, and skin lightening agents among others. Humectants, moisturizers, anti-ageing, anti-cellulites, scrub agents, plant extracts, UV-blockers, soothing agents, skin whiteners, purifying agents, anti-oxidants are some of the active ingredients intended for the cosmetic industry. Few skin products containing actives are often regarded as medication or drugs. A product that comes with claims of changing skin's structure or treat certain symptoms such as eczema or rosacea or psoriasis are generally regarded as drugs by the U.S. FDA. Few ingredients such as salicylic acid are always considered as drugs.

Amid the COVID-19 crisis, the global market for Active Ingredients for estimated at US$3.9 Billion in the year 2022, is projected to reach a revised size of US$4.7 Billion by 2026, registering a compounded annual growth rate (CAGR) of 5% over the analysis period. Europe represents the largest regional market for Active Ingredients for Cosmetics and is projected to reach US$1.3 Billion by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 6.8% over the analysis period. The market is being spurred by the growing desire to look good among people and the subsequent rise in spending on a range of cosmetic products for skin and hair care. Consumers across the world are becoming increasingly aware about the achieving flawless skin without any marks or blemishes.

Growing awareness among consumers about overall physical appearance, the general pursuit of beauty and growing awareness about the benefits of using various cosmetic products for improving skin care are driving growth in the cosmetics market, thus driving demand for active cosmetic ingredients that find use in their manufacture. Growth is also benefitting from the escalating demand for sun protection, anti-aging and skin whitening products. Growing concerns over aging skin and the desire to achieve even skin tone is also leading to high demand for active cosmetic ingredients. With concerns growing over premature aging, dry skin, age spots, premature aging, and pigmentation, demand is rising for ingredients used in anti-aging products. In addition, novel solutions in hair care and increased use of natural ingredients provide favorable growth opportunities for the market. Demand for cosmetic products is strong amongst the elderly population, specifically for products with active ingredients that can minimize signs of aging.

The market is also being driven by the growing interest of male consumers in personal grooming and grooming products. For example male consumers are showing increased interest in hair care products such as hair serums. Growing urban population and development of novel products with enhanced effectiveness are also driving growth in the market. Rising awareness about clean label cosmetic products is leading to the development of environment-friendly or green active cosmetic ingredients. The high demand for organic ingredients-incorporating cosmetic ingredients especially in Asia-Pacific countries is expected to drive growth in the market. Despite their higher cost in comparison to synthetic materials, natural or organic ingredients are finding favor amidst the increasing consumer focus on health and environment. The market is thus benefiting immensely from growing consumer inclination towards natural and active cosmetic ingredients, which is spurring demand for products such as botanical extracts, enzymes and amino acids. Also favoring the market is the escalating demand for multifunctional ingredients, driven by the rising sales of multifunctional products. The positive outlook market is encouraging manufacturers to focus on R&D initiatives to develop new products featuring unique ingredients, thus driving growth in the cosmetic active ingredients market.

By functionality, conditioning agents captured the largest share of the market, with other major categories being UV filters, skin lightening agents and anti-aging agents. The large share of conditioning agents segment is mainly attributed to their growing use in skin and hair care applications. Rapidly expanding population, increasing disposable incomes and rising spending on cosmetic products especially in developing regions are fueling growth in the conditioning agents market. While Europe and Asia-Pacific continue to grow strongly, the market for conditioning agents in North America is being affected by the strict government regulations being implemented. Active ingredients for anti-aging products segment is expected to record strong gains in the coming years. The world's rapidly aging population is increasingly demanding products that will enable them to retain or enhance their youthful appearance and help in delaying signs of aging such as frown lines and wrinkles. Driven by the rising demand for anti-aging products, the market for active cosmetic ingredients for anti-aging products is expected to post strong growth. More

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SOURCE Global Industry Analysts, Inc.