Cosmetic Ingredients Market is Estimated to Witness High Growth...

Cosmetic Ingredients Market is Estimated to Witness High Growth Owing to Rising Consumer Awareness

Posted 2024-09-04 10:24:33

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The cosmetic ingredients market comprises a wide range of products including emollients, surfactants, polymers, active ingredients, preservatives, and rheology modifiers. Cosmetic products containing these ingredients provide advantages such as moisture retention, UV protection, and anti-aging properties. The rising consumer awareness regarding personal care and growing focus on appearance among individuals has boosted the demand for cosmetic products. This increasing demand acts as a primary driver for the growth of the cosmetic ingredients market.

The Global cosmetic ingredients market is estimated to be valued at US$ 20931.81 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Cosmetic Ingredients market are BASF SE, AkzoNobel N.V.,Croda International Plc, The Dow Chemical Company, Eastman Chemical Company and Clariant AG, and Wacker Chemie AG. These companies are focusing on new product launches catering to the demand from various application segments.

The Cosmetic Ingredients Market Trends offers lucrative opportunities for various players due to the untapped growth potential in developing regions. Increasing disposable incomes and growing preference for premium cosmetic brands in Asian countries provides a strong growth opportunity.

The rising demand from the color cosmetics and skin care segments, especially in China, India, Brazil and Southeast Asian countries is promoting many global players to expand their manufacturing and distribution facilities in these high potential regions.

Market Drivers

The growing working women population with increasing spending capacity on personal care products is one of the major drivers boosting the Cosmetic Ingredients Market Size And Trends Cosmetic products help to maintain a neat appearance and boost self-confidence at workplaces, thereby fueling their demand. Rapid urbanization coupled with improved living standards is another key factor supporting the growth of the global cosmetic ingredients market over the forecast period.

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