About Cosmetic Ingredients
Cosmetic ingredients form the base chemicals for personal care products, which include soaps, shampoos, lotions, perfumes, and a variety of other products. Some cosmetics are not only used for beauty regimes, but they also serve as vital components of wellbeing. Some examples of vital cosmetics are toothpaste and sunscreens. Historically, there had been several amendments in the cosmetics sector, which in turn, affected the global cosmetic ingredients market. Right from categorizing cosmetic ingredients as drugs, to the prohibition of marketing cosmetic products that have been animal tested, the cosmetics industry has always been under the scrutiny in terms of compliance and regulations.
Technavio’s analysts forecast the global cosmetic ingredients market to grow at a CAGR of 4.39% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global cosmetic ingredients market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of cosmetic chemicals in key application areas such as hair care, skin care, color cosmetics, perfumery and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cosmetic Ingredients Market 2017-2021
Technavio recognizes the following companies as the key players in the global cosmetic ingredients market: AkzoNobel, Ashland, BASF, Clariant, and Evonik Industries.
Other Prominent Vendors in the market are: Active Organics, Bayer, Croda International, Eastman Chemical, Emery Oleochemicals, FMC, Pilot Chemical, Procter & Gamble (P&G), Solvay, and United-Guardian Incorporated.
Commenting on the report, an analyst from Technavio’s team said: “The increasing health and wellness trend across the globe has also left its impression on the beauty and personal care products industry. Realizing the growing trend, manufacturers are focusing on developing natural and organic cosmetic products. For instance, Maine Chaga Age-Defying Face Serum uses a unique mushroom-derived formula with high antioxidants and amino acids for younger looking skin. The formula also contains melanin and betulin that, generally, vitamin C serums do not contain. Another company, Pestle & Mortar, has a pure hyaluronic serum product offering that is 100% free of animal-derived raw materials and organic solvent remnants, paraben, propylene glycol, and fragrance, and is not tested on animals.”
According to the report, perceptions regarding cosmetics use have changed among male consumers. The increasing emphasis on personal grooming by the male consumer segment is driving the cosmetic ingredients market globally. Hair care products like hair serums are highly popular among male consumers. Male celebrity endorsements are being increasingly used by cosmetics companies to advertise their products.
Further, the report states that the major challenge in the global cosmetic ingredients market is the dependence on cosmetic product sales. Cosmetic ingredients by themselves are not sold to end-consumers, but they are processed further for the creation of cosmetic products. For consumers, the perception of cosmetics varies in accordance with price and affordability. In addition to complying with regulations posed by governments of different countries and adhering to them, manufacturers also must focus on branding, marketing, and endorsements. Added to this, the multi-region structure of the market creates fluctuations in key raw material costs from one region to another. Political and economic disruptions also have an adverse effect on the global sales and profitability.
AkzoNobel, Ashland, BASF, Clariant, Evonik Industries, Active Organics, Bayer, Croda International, Eastman Chemical, Emery Oleochemicals, FMC, Pilot Chemical, Procter & Gamble (P&G), Solvay, United-Guardian Incorporated.