As per newly released report from Absolute Market Insights (AMI), the global cosmetic ingredients market is growing at a CAGR of 9.89% over the forecast period (2021 – 2029).
Rising Demand for Plant-Based Ingredients
Cosmetics can be defined as products that are aimed to cleansing, protecting and changing the appearance of exterior parts of one’s body. There are numerous cosmetic products available that are made of different combinations of ingredients. For instance, United States alone accounts for approximately 12,500 ingredients that are approved in the manufacture of personal care products category. A product typically contains anything between 15 – 50 ingredients and these ingredients are either naturally occurring or artificial. In the recent years, there has been a huge surge for plant-based cosmetic ingredients owing to the endless benefits it offers to consumers. Plant based extracts are being continually incorporated in beauty products and they contain active molecules that work wonders right from boosting collagen to fading age spots. Rising number of beauty brands are producing eco-friendly products and packaging for consumers, promoting for environment care. Plant-based beauty products are more sustainable than other beauty products owing to the way they are sourced, manufactured packaged.
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By opting for natural, oleochemical sources, ecological cosmetics avoid many of the toxic elements that are otherwise found in popular brands. Chemicals such as, aluminum, and dibutyl phthalate, BHA and BHT, coal tar dyes, are all harmful for the environment as well for health. Additionally, by choosing plant-based products, we can reduce carbon footprint and become more environmentally aware. There are more and more cosmetic brands such as Kopari Beauty, COOLA, Kaia Naturals, RMS Beauty, Cocokind and OSEA amongst others that are increasingly using plant derived ingredients in their products. For instance, COOLA offers non-toxic, cruelty-free vegan products. The sunscreen offered by this brand uses most potent natural ingredients to produce purest, eco-conscious products, enabling in providing with a more natural, radiant product. Furthermore, the COVID-19 pandemic has pushed the demand for natural ingredients to be used in cosmetics. For example the demand for Aloe Vera increased more as compared to earlier, as it is being used as an ingredient in hand sanitizers. Thus, plant-derived ingredients are actively aiding for the improvement in skin appearance, which in turn is driving its sales in the cosmetic ingredients market.
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Europe to be Remain a Prominent Region in the Cosmetic Ingredients Market
Europe is considered as the leading market for cosmetics worldwide. The demand for natural (plant-based) ingredients used in cosmetics and toiletries is on the rise and the trend is expected to gain more traction in the future, creating demand for cosmetic ingredients market. Market participants are replacing synthetic chemical ingredients with environmental friendly ingredients, owing to shift in consumer preference for more sustainable products. The skincare category accounts for the major share in Europe region, wherein a wide range of products are produced using natural ingredients. Vegetable oil with functional/active properties is one such common ingredient used for face and body products. Essentials oils are majorly used as fragrances.
Germany is regarded as the European leader in natural cosmetics i.e. it comprises of 10% of the total cosmetic sales of this country. In Contrast with countries, a large share of natural cosmetics are usually sold in drugstores or in pharmacies. Germany is also the leading importer of raw materials used in cosmetics. The UK is considered as the third largest cosmetic market whereas Italy registered to be the fourth-largest cosmetics market, worth €10.7 billion and €10.5 billion respectively in 2019. In spite of UK being the third-largest market, many cosmetic products that are sold in the UK are produced in mainland Europe, hence raw materials, including natural ingredients, are not as much used across UK. When we consider Italy, the consumers in this country are becoming more alert of the environmental impact of cosmetics ingredients. Prominent natural and organic companies in Italy include L’Erbolario, Lacote, Helan, ISMEG, and Bema Cosmetici, amongst others. Thus, these factors are propelling the demand and share of natural ingredients in the cosmetic ingredients market.
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Global Cosmetic Ingredients Market
By Ingredient Type
- Water
- Emulsifier and Stabilizer
- Surfactants
- Allergens
- Botanical Extracts
- Alpha Hydroxy Acids
- Beta Hydroxy Acids
- Oleochemical
- Diethanolamine
- Latex and Parabens
- Per and Polyfluoroalkyl Substances (PFAS)
- Others
By Application
- Skincare
- Haircare
- Face care
- Personal care
- Oral Care
- Baby Care
- Others
By Sales Channel
- Direct
- Indirect
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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