The market for cosmetic chemicals is anticipated to grow at a compound annual growth rate (CAGR) of 5.4% from its estimated valuation of USD 15.89 billion in 2022 to USD 26.84 billion by 2032.
Ingredients most commonly used in cosmetics are inclusive of preservatives, emulsifiers, moisturizers, thickeners, fragrances, and colors. They could be devised either naturally or synthetically. One could also derive synthetic chemicals from the natural products like bio- or petroleum-based ingredients. However, manufacturing process involved in synthesizing these chemicals is pretty complex. Moreover, as they are ‘derived’, they are categorized as synthetic. The natural products are inclusive of microbial, animal, mineral, and plant.
Elevance Renewable Sciences, Inc. is a manufacturer of specialty chemicals that develops as well as markets the emollients formulated by using the patented technology from various plant-based products for usage in cosmetics, skin lotions, and hair styling products.
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Constructive disruption in cosmetic chemicals market is expected to take place through incorporation of technological advancements. On these grounds, Givaudan is making use of plant cell culture as well as phyto peptides technology for developing skin care products. Extensive research is being conducted by the key participants for developing sustainable products to address customers’ demands with growing inclination toward organic and natural cosmetic products.
Moisturizers and emollients hold more than 30% of the market share. Emollients are known for softening the skin by prevention of water loss. The applications include skin moisturizers, body lotions, lipsticks, and face creams. They get sold at commercial level in both – synthetic and natural forms. Emollients broadly used include coconut oil beeswax, olive oil, lanolin, glycerine, petrolatum (petroleum jelly), zinc oxide, mineral oil, butyl stearate, and diglycol laureate.
Preservatives are added to cosmetics products during their formulations with the objective of extending shelf life and checking the proliferation of fungi and bacteria. The preservatives commonly used are inclusive of benzyl alcohol, parabens, formaldehyde, salicylic acid, and EDTA (tetrasodium ethylenediaminetetra-acetic acid). Players like COBIOSA do develop as well as distribute chemicals pertaining to skin care formulations. These chemicals are developed from botanicals inclusive of camelina, polyphenols, collagen, algae, and insects as well. Future Market Insights has walked through these findings with future perspectives in its latest market study entitled ‘Cosmetic Chemicals Market’. It has its line of expertise in the form of analysts and consultants to do the things.
Key Takeaways from the Cosmetic Chemicals Market
- North America holds more than 34% of the market share. This could be credited to cosmetic chemicals being increasingly used to manufacture organic personal care products.
- Europe holds a significant market share in the cosmetic chemicals market. This could be credited to growing demand for the cosmetic products that are formulated through natural ingredients.
- The Asia-Pacific is expected to grow at the fastest rate in the cosmetic chemicals market due to countries like China and India being subject to rising buying power.
“Growing demand for cosmetic products, that too, formulated with various natural ingredients is expected to drive the cosmetic chemicals market”, says an analyst from Future Market Insights.
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Competitive Chemicals
- Knowlton Development Corporation, in February 2020, announced that it had completed acquisition of Shanghai Paristy Daily Chemicals.
- Knowlton Development Corporation (KDC/ONE), in December 2019, entered into partnership with HCT Group for creating end-to-end solutions provider for catering to personal care & beauty vertical. The latter is a leader at the global level with respect to provision of full-service solutions of the cosmetic products related to production, filling, design, formulation, and logistics.
- Companies do take part in several events as well as exhibitions for promoting the product portfolio and improvising on customer base. On these grounds, Solvay (a multi-specialty chemical company) had attended ‘In-Cosmetics London 2017’ for showcasing company’s formulations related to hair, skin, and body care.
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.
Key Segments Profiled in the Cosmetic Chemicals Industry Survey
Product:
- Cosmetic Surfactants
- Cosmetic Polymer Ingredients
- Cosmetic Colorants
- Cosmetic Preservatives
Application:
- Cosmetic Chemicals for Skin Care
- Cosmetic Chemicals for Hair Care
- Cosmetic Chemicals for Make-Up Applications
- Cosmetic Chemicals for Oral Care
- Cosmetic Chemicals for Fragrances
- Cosmetic Chemicals for Other Applications
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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