Global Cosmetic Active Ingredients Market Size to Reach USD 56.15 Billion in 2032 | Emergen Research

Supportive government regulations to ensure utilization of safe ingredients in cosmetic manufacturing activities is a major factor driving cosmetic active ingredients market revenue growth

Vancouver, Aug. 23, 2023 (GLOBE NEWSWIRE) — The global market for cosmetic active ingredients achieved a significant scale of USD 31.80 billion in 2022. As per the latest analysis conducted by Emergen Research, this market is projected to demonstrate a robust revenue Compound Annual Growth Rate (CAGR) of 5.8% throughout the forecast period. This growth is attributed to the expedited and efficient approval processes for ingredients by reputable regulatory bodies. Moreover, the increasing influence of social media advertising also plays a pivotal role in driving the upward trajectory of revenue in the cosmetic active ingredients market.

A noteworthy statistic from The Journal of Clinical and Aesthetic Dermatology reveals that acne impacts 5% of adult men and 22% of adult women in the United States. In response to this concern, companies within the industry are actively dedicating efforts to the development of a diverse array of products aimed at addressing this issue.

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However, the growth of the market is restrained by stringent regulatory limitations and the imposition of bans on specific cosmetic ingredients. Regular inspections conducted by pertinent authorities also contribute to this restraining effect on revenue expansion. Furthermore, a growing number of state legislatures are deliberating the possibility of prohibiting cosmetics and consumer goods that contain synthetic chemicals known as Per- and Polyfluorinated Substances (PFAS), given their potential for adverse effects.

The U.S. Department of State has highlighted the widespread presence of counterfeit cosmetics, including makeup products, in the online marketplace and temporary retail outlets across the nation. Each year, a significant portion of consumers fall victim to the allure of these counterfeit products, cleverly disguised to replicate well-known designer brands.

Moreover, technological advancements have become instrumental in shaping the landscape of the cosmetic active ingredients market. Innovations such as computational modeling and in silico testing methodologies are increasingly being embraced by industry players. These approaches enable the prediction of ingredient behavior, potential interactions, and safety profiles, expediting the evaluation process and reducing the reliance on traditional animal testing methods. This not only aligns with ethical considerations but also enhances efficiency in bringing new ingredients to market.

Consumer preferences for natural and sustainable ingredients are also steering market dynamics. Heightened awareness regarding the environmental impact of cosmetic products has prompted manufacturers to explore biodegradable and eco-friendly alternatives. As a result, there is a growing emphasis on sourcing ingredients from renewable resources and employing greener extraction techniques. This shift not only resonates with eco-conscious consumers but also demonstrates a commitment to responsible production practices.

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Scope of Research

Major Companies and Competitive Landscape

The global cosmetic active ingredients market is moderately fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective cosmetic active ingredients solutions. Some major players included in the global cosmetic active ingredients market report are:

• BASF SE
• Clariant
• Dow
• Solvay
• Akzo Nobel N.V.
• Evonik Personal Care
• Ashland
• L’Oréal
• Novartis AG
• Croda International Plc

Strategic Development

• On 21 March 2023, Lucas Meyer Cosmetics, a division of IFF, unveiled two new releases at in-cos Global in Barcelona. These products focus on nighttime skincare ingredients that aid in skin regeneration and relaxation. The active components work in tandem, employing a dual mechanism to enhance sleep quality and directly impact skin rejuvenation, leading to improved nighttime skin recovery

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Some Key Highlights From the Report

• The natural ingredient segment is expected to register highest revenue CAGR over the forecast period. Factors such as rising demand for clean-label cosmetic products among consumers, amplified by influencer marketing on social media platforms showcasing their health benefits, and a rising focus on environmental sustainability contribute to revenue growth of this segment. Key natural ingredients such as argan oil, hyaluronic acid, green tea, shea butter, and jojoba oil are widely used in cosmetic manufacturing.
• The anti-aging agents segment accounted for a significantly large revenue share in the global cosmetic active ingredients market in 2022. Factors such as growing desire of the aging population to maintain a youthful appearance, aided by social media marketing strategies and celebrity endorsements promoting anti-aging solutions are driving revenue growth of this segment. The preference for non-invasive alternatives to achieve youthful skin is another major factor driving revenue growth of this segment. As a result, companies are actively developing new formulations to combat skin aging.
• The market in North America accounted for largest revenue share in the global cosmetic active ingredients market in 2022. Factors such as consumers’ increasing consciousness to enhance their haircare and skincare routines, along with rising demand for customized and personalized cosmetic products tailored to individual needs, are driving the market revenue growth in this region. The demand for natural ingredients in skincare and haircare solutions further fuels this trend. The U.S. Food and Drug Administration (FDA) plays a crucial role by implementing stricter laws and regulations to monitor ingredient usage in cosmetic products closely.

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Emergen Research has segmented the global cosmetic active ingredients market on the basis of ingredient type, product type, functionality, end-use, and region:

• Ingredient Type Outlook (Revenue, USD Billion; 2019-2032)
  • Synthetic ingredients
  • Natural ingredients
  • Specialty ingredients
• Product Type Outlook (Revenue, USD Billion; 2019-2032)
  • Emulsifier and Stabilizer
  • Preservative
  • Antioxidant
  • Emollient
  • Surfactant
  • Antimicrobial
  • Hair fixative polymer
  • Cyclomethicone
  • Conditioning polymer
  • Hydrolyzate
  • Polyquaterniums
  • Others

• Functionality Outlook (Revenue, USD Billion; 2019-2032)

• • Anti-aging agents
  • Skin-lightening agents
  • Conditioning agents
  • UV filters
  • Anti-acne
  • Anti-inflammatory
  • Others

• End-Use Outlook (Revenue, USD Billion; 2019-2032)

• • Skincare
  • Haircare
  • Makeup
  • Oral care
  • Eye care
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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