The Global Cosmetic Chemicals Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Cosmetic Chemicals market is segmented by Product type (Emollients And Moisturizers, Surfactants, Emulsifying and Thickening Agents, Film Formers, Colorants and Pigments and Others); Application (Skin Care, Hair Care, Makeup, Fragrances and Others); Geography (APAC, North America, Europe and ROW).
Introduction
Cosmetic chemicals are a blend of chemical compounds obtained from synthetic sources. They are the main ingredients used for the formulation of personal care or cosmetic products. Cosmetic chemicals that are generally found in cosmetic products include colorants, surfactants, rheology control agents, emulsifier, emollients, and preservatives.
Increasing per capita incomes in emerging countries along with desire to improve their visual appearance is propelling the global cosmetic chemicals market growth
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering industrial activities are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future
Table of Contents
Market Overview
The Global cosmetic chemicals market is expected to have $5.5 billion incremental growth between 2020-2025.
Growth momentum is expected to accelerate at slower pace during the forecast period with 4.89% CAGR.
Growing demand from the ethnic groups for beauty products that are tailored according to their needs, increasing purchasing power is driving the growth of market.
APAC is forecasted to be the largest consumer for this market. Developing countries like China, India, and Japan are also estimated to witness positive growth in the near future.
Key Trends
Increased research & development activities related to product innovation is expected to drive the market in future.
Rising demand for cosmetic products formulated with natural ingredients coupled with consumer willingness to spend on premium products is expected to drive the market in future
Key Market Players
The market is dominated by global vendors like BASF, Ashland, Eastman Chemical Company, Givaudan, Dow, Lonza Group.
The key players have been present in the industry for a very long time and have huge production capacities. However, owing to the augmented product demand, these players are focusing on acquisition, expansion, and investment strategies to enhance their product portfolio and meet the growing demand from the end-use markets.
Growth Drivers and Challenges
Rise in disposable income and personal expenditure on consumer durables has increased significantly in the last decade. This has increased global spending on beauty and personal care products, and household care products, which is driving growth of the cosmetic chemicals market across the globe.
Growing demand from the ethnic groups for beauty products that are tailored according to their needs is driving the market growth
Side effects risks posed by synthetic cosmetic chemicals may hamper product demand.
Higher research and production costs is hindering the growth of the market
Volatility in the prices of raw materials is expected to restrain product demand.
Stringent environmental norms and continuous reforms by governments