[250 Pages Report] The cosmetic chemicals market is likely to be valued at USD 15.89 Billion in 2022 and is expected to reach USD 26.84 Billion by 2032, growing at a CAGR of 5.4% during the forecast period.
| Report Attributes | Details |
|---|---|
| Expected Base Year Value (2021) | USD 14 Billion |
| Projected Market Value (2022) | USD 15.89 Billion |
| Anticipated Market Value (2032) | USD 26.84 Billion |
| Global Growth Rate (2022 to 2032) | 5.4% CAGR |
Cosmetic chemicals are the primary ingredients that are used for formulation of personal care products. Cosmetics have come from late civilizations due to need for improving looks and appearance. Since then, ingredients in cosmetics have changed drastically and new techniques and formulas were introduced to manufacture own cosmetics and scents.
Almost 1500 chemical entities have been recognized to be cosmetic chemicals globally. The common chemicals that are found in the cosmetics include thickening agents, carrier powders, colorants, pigments, surfactants, preservatives, emollients, film formers and moisturizers among others.
The cosmetic industry is fragmented because a large number of suppliers offer a diverse range of inorganic and organic chemicals, which are required ingredients in the cosmetic industry. Nonetheless, twenty or more major international corporations control a sizable portion of the cosmetic chemicals trade in the market.
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Growing demand from ethnic groups for beauty products that are tailored to their needs is one of the major driving factors in the cosmetic industry. Furthermore, rising purchasing power, as well as increased awareness and demand for personal care products among aging baby boomers, are expected to drive demand for cosmetic chemicals.
However, rising demand for natural ingredients may stymie the global cosmetic chemicals market's growth trajectory. Furthermore, major corporations must adhere to industry standards and regulations.
Stringent government regulations prohibiting the use of toxic chemicals, combined with an increase in demand for organic products made from natural ingredients, are limiting the global cosmetic chemicals market's growth.
Furthermore, some cosmetic chemicals may cause genetic mutation, birth defects or reproductive harm, genetic mutation, and cancer, all of which are likely to limit the market growth. An increase in R&D activities by market players with the goal of developing advanced and diverse product portfolios is likely to provide new opportunities for the global cosmetic chemicals market's growth.
The Asia-Pacific Cosmetic Chemicals Market is expected to grow at the fastest rate. Skin care applications help to increase the demand for Cosmetic Chemicals in Asia-Pacific.
People's purchasing power is increasing rapidly in countries such as India and China, which is helping to boost overall demand for cosmetic chemicals.
In the near future, Asia Pacific is expected to be the largest consumer of cosmetic chemicals. Southeast Asia, which includes Thailand, Malaysia, Indonesia, Vietnam, and Singapore, is expected to grow rapidly in the coming years.
The European cosmetic chemicals market was worth is expected to grow by 5.3% CAGR from 2022 and 2032, owing to continuous R&D investment, rising disposable income, and purchasing power of individuals, and rising demand for cosmetic products formulated with natural ingredients.
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The key companies profiled include Akzo Nobel NV, Ashland Incorporated, Active Organics, BASF SE, Berkshire Hathaway Incorporated, Bayer AG, Clariant International Limited, Dow Chemical Company, Eastman Chemical Company, Evonik Industries AG, Emery Oleochemicals Group, FMC Corporation, Novecare, Integrated Botanical Technologies, Pilot Chemical Company, Procter & Gamble Company, Solvay SA and United-Guardian Incorporated among others.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.4% until 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Type, Application, Region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled |
USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC Countries, South Africa |
The cosmetic chemicals market is predicted to grow at 5.4% CAGR through 2032.
Asia Pacific cosmetic chemicals market holds the highest revenue potential.
The cosmetic chemicals market is expected to surpass USD 26.84 Bn by 2032.
The cosmetic chemicals market size is anticipated to be over USD 15.89 Bn in 2022.
| Estimated Market Size (2024E) | USD 13,643.4 million |
|---|---|
| Projected Market Value (2034F) | USD 21,416.2 million |
| Value-based CAGR (2024 to 2034) | 4.6% |
| Market Size (2022) | USD 1,768.0 Million |
|---|---|
| Market Size (2032) | USD 3,226.5 Million |
| Value CAGR (2022 to 2032) | 6.2% |
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