Global Market for Chemicals in Cosmetics and Toiletries - Segmented by Chemical Type, Ingredients, and Region - Growth, Trends and Forecast (2018 - 2023)
The global market for chemicals in cosmetics and toiletries is expected to register a CAGR of 5.72% during the forecast period, 2018-2023. The market is driven by many factors, such as accelerating demand for anti-aging and sun protection products along with rising demand for skin lightening products. However, rising environmental concerns due to non-degradable nature of toiletries is expected to restrain the market.
Accelerating Demand for Anti-Aging & Sun Protection Products
The demand for sun protection products is rising in response to increasing skin cancer problems and growing awareness toward the harmful effects of UV and environmental pollution. In addition, the growing demand for anti-aging products is increasing in countries with a high proportion of old age people. The increase in the demand for these products is seen in countries like, United States, China, Japan, Italy, and Germany, as the older generation in these countries is in more proportion than the younger generation. Therefore, this demand is expected to drive the market for chemicals in cosmetics and toiletries.
Skin Care - the Dominant Application
Based on application, skincare is expected to dominate during the forecast period in response to increasing skincare products because of color, fragrance, and aesthetic sense. The consumption of chemicals in skincare products is increasing in countries like, United States, China, India, Germany, France, etc. as companies are coming up with new and innovative products for specific type of skin and curing specific problems etc.
North America - the Dominant Market
North America is the largest market for cosmetics and toiletries chemicals. United States is the largest market in North America, and is expected to grow at a healthy rate. The United States cosmetics and toiletries manufacturers are increasing innovations in product and packaging along with high quality and technologically advanced products. Also, in United States the market for organic products is increasing as manufacturers are coming up with different types of organic and natural products in the country. Also, the distribution channel for products of cosmetics and toiletries is very effective, which enhances its sales in the country.
Major Players: Akzo Nobel, Ashland Inc., BASF SE, Clariant International Ltd, Croda International PLC, DowDupont, Eastman Chemical Co., Emery Oleochemicals Group, Evonik Industries AG, FMC Corp., LANXESS AG, Lonza Group Ltd, Lubrizol Corp., Royal DSM NV, Royal Dutch Shell PLC, and Solvay SA amongst others.
Reason to Purchase this Report
To understand the impact of ingredients on the market for chemicals in cosmetics and toiletries
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The type of chemical type and application expected to dominate the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players.
3 months analyst support, along with the Market Estimate sheet (in excel).
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