The Global Cosmetic Chemicals Market is Projected to Reach US$34 Billion by 2024

Rising Demand for Anti-Aging & Skin Lightening Cosmetics to Drive Growth in the Global Cosmetic Chemicals Market, According to New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Cosmetic Chemicals market. The global Cosmetic Chemicals market is projected to reach US$34 billion by 2024, driven by increasing consumer spending on a range of cosmetic and toiletry products, specifically anti-aging, sun protection, and skin lightening products.

Cosmetic chemicals are substances or ingredients used in the formulations of cosmetic and personal care products. Cosmetics industry makes use of a broad range of chemicals, which are designed to improve the effectiveness of the cosmetic by enhancing functionality and properties of the product, and to ultimately enhance the physical appearance of users. A variety of synthetic and natural ingredients are used in various cosmetic products including skin care, hair care and makeup products. Over the years, the cosmetic industry has seen significant developments with new techniques being developed, new chemicals or ingredients being used, and new formulations being introduced for manufacturing various cosmetic products.

The global market for cosmetic chemicals is being driven by the increased consumers spending on cosmetic and toiletry products, and the growing consumer demand for safe, quality and effective cosmetic products. Consumers across the world are becoming increasingly aware about the achieving flawless skin without any marks or blemishes. The growing consciousness among consumers about overall physical appearance, the general pursuit of beauty and growing awareness about the benefits of using various cosmetic products for improving skin care are driving growth in the cosmetics market, thus driving demand for cosmetic ingredients that find use in their manufacture.

Growing sales of sun protection, anti-aging and skin lightening products are especially fueling demand for cosmetic ingredients used in these products. With concerns growing over premature aging, dry skin, age spots, premature aging, and pigmentation, demand is rising for ingredients used in anti-aging products. Demand for cosmetic products is strong amongst the elderly population, specifically for products with active ingredients that can minimize signs of aging. Cosmetic chemicals market is also being stimulated by the growing interest of male consumers in personal grooming and grooming products.

As stated by the new market research report on Cosmetic Chemicals, the United States represents the largest market worldwide. Growth in the country will be led by increased consumer spending on cosmetic and toiletry products, specifically for natural products. Rising consumer awareness about the advantages offered by various personal care products, increasing focus of consumers on maintaining and enhancing physical appearance and the subsequent increase in sales of various cosmetic products and cosmeceuticals. Asia-Pacific is forecast to register the fastest CAGR of % over the analysis period, led by strong growth in countries such as China and India. Positive economic growth in emerging Asian countries, rising disposable incomes of expanding middle class segment, improving standards of living, and the subsequent emphasis on physical appearance are driving strong growth in sales of cosmetic products, thus propelling demand for cosmetic chemicals.

Major players in the market include Akzo Nobel N.V., Ashland Inc., BASF SE, Clariant International Ltd., Sederma S.A.S, DowDuPont, Dow Corning Corporation, Eastman Chemical Company, Evonik Industries AG, Firmenich SA, Givaudan S.A., International Flavors & Fragrances Inc., Koninklijke DSM N.V., LANXESS AG, Lonza Group Limited, The Lubrizol Corporation, P&G Chemicals, Solvay SA, and Symrise AG, among others.

The research report titled “Cosmetic Chemicals: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The market is analyzed by the following product segments - Cleansing Agents & Foamers, Emollients & Moisturizers, Fragrances & Flavors, Processing Aids, and Specialty Additives (Active Ingredients, Colorants, Conditioning Agents, Preservatives and Other Specialty Additives).

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