Cosmetic Chemicals Market to Reach US$ 22 Billion by 2032 as Demand for Organic Hair & Skin Care Products Rises by 5%

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Oct 03, 2022, 11:30 ET

Cosmetic Chemicals Market to Nearly Grow Two-Fold Amid Rising Preference for Eco-Friendly Cosmetic Products

NEW YORK, Oct. 3, 2022 /PRNewswire/ -- Fact.MR provides a thorough analysis of the worldwide cosmetic chemicals market for the upcoming decade. The research also offers in-depth information on key growth aspects such as trends, opportunities, and key players' strategies. Additionally, the report examines current trends in important regions across several segments, including application and type.

Fact.MR – A Market Research and Competitive Intelligence Provider: The global cosmetic chemicals market is likely to reach US$ 22 Billion by 2022, growing at a CAGR of 6% from 2022-2032. Growing demand for cosmetic chemicals, combined with growing preference for organic chemicals is likely to drive the market during the forecast period (2022-2032).

A key trend observed in the market is the shift away from hazardous chemicals. Taking this into account, the preference of end-users and evolving regulations by governments, key players are investing in developing organic alternatives for the production of grooming and beauty products. It is expected that demand for organic alternatives will create opportunities for new entrants in this market.

Additionally, demand for cosmetic chemicals is the highest in hair and skin care segment. As per Fact.MR, sales of cosmetic chemicals for hair and skin care accounted for nearly 30% of share in 2022, registering 5% CAGR during the forecast period.

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Regionally, North America is one of the largest markets for cosmetic chemicals, and is expected to create sizeable opportunities during the forecast period. The U.S. is expected to account for significant share in North America market over the forecast period. A large cosmetics industry in the country, combined with well-followed guidelines and regulations is likely to create significant growth opportunities for cosmetic chemicals manufacturers.

In addition to this, the U.S. and China are also likely to remain a key market for cosmetic chemicals manufacturers during the assessment period. As per the study, China cosmetic chemicals market is set to grow at a CAGR of 5.7% between 2022 and 2032, and reach a valuation of US$ 7 Billion by 2032.

Key Takeaways:

In terms of application, the hair and skin care segment is expected to witness growth at 5% CAGR during the forecast period.
Asia Pacific is anticipated to be a fast-growing market for cosmetic chemicals, registering significant growth during the forecast period.
The U.S. cosmetic chemicals market is projected to expand at 5.8% CAGR over the upcoming decade.
By type, emollients, film formers & moisturizers is likely to be the most lucrative segment, and is expected to grow at 6% CAGR during the assessment period.
Sales in the U.K. cosmetic chemicals market are projected to surge at 5% CAGR over the forecast period.

Growth Drivers:

Increasing popularity of hair and skin care products is expected to create demand for cosmetic chemicals.
Shift toward organic and non-hazardous chemicals is encouraging manufacturers to develop and create high-quality products.
Increasing demand for suncare and anti-ageing products is expected to create remunerative growth prospects in the market.
Sustainable and eco-friendly components have piqued the interest of both manufacturers and customers, driving the demand for organic cosmetic chemicals.

Restraints:

Growing popularity of herbal products which are devoid of any chemicals is likely to impede growth during the forecast period.
Increase in the prices of raw materials is likely to put pressure on manufacturers who are focusing on launching affordable products.

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Competitive Landscape:

Cosmetic chemicals manufacturers are focusing on collaborations with end users to benefit from mutual expertise. Further, they are also investing in organic and natural ingredients to capitalize on growing preference for organic products.

For instance,

Jowell Global announced their partnership with Hope Bio-Technology in August 2021. This collaboration will benefit both businesses' efforts to create innovative skincare, cosmetics, health, and dietary supplements based on cell technology.
BASF announced in November 2020 that it will be using Neutrol® MGDA, an eco-friendly complexing agent for its personal care applications range of products.

Key Companies Profiled by Fact.MR

Symrise AG
The Lubrizol Corporation
Lonza Group Limited
P&G Chemicals
Eastman Chemical Company
Evonik Industries AG
BASF SE
Dow Inc.
Firmenich SA
Givaudan SA
Akzo Nobel NV
Ashland Global Holdings Inc.
Clariant International Ltd.
International Flavors & Fragrances Inc.
LANXESS AG
Sederma SAS
Solvay SA

More Valuable Insights on Cosmetic Chemicals Market

In its latest study, Fact.MR offers a detailed analysis of the global cosmetic chemicals market for the forecast period of 2022 to 2032. This study also divulges key drivers and trends promoting the sales of cosmetic chemicals through detailed segmentation as follows:

By Application:

Perfumes & Fragrances
Hair care & Skincare
Color
Other

By Type:

Emollients, Film Formers & Moisturizers
Surfactants
Single Use Additives
Carriers, Powders & Colorants
Thickening Agents
Other

By Region:

North America
Europe
East Asia
South Asia
Oceania
Latin America
Middle East & Africa

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Key Questions Covered in the Cosmetic Chemicals Market Report

What is the anticipated market size of the cosmetic chemicals market in 2022?
At what rate will sales in the global cosmetic chemicals market grow until 2032?
Which are the factors set backing the demand in the cosmetic chemicals market?
Which region is expected to dominate the global cosmetic chemicals market during 2022-2032?
Which are the factors propelling sales in the cosmetic chemicals market during the forecast period?

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.

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