Global Cosmetic Chemicals Market Report and Forecast 2024-2032

Global Cosmetic Chemicals Market Outlook

The global cosmetic chemicals market reached a value of about USD 24.45 billion in 2023. The market is further expected to grow at a CAGR of 5.60% during the forecast period of 2024-2032, to record a value of nearly USD 40.12 billion by 2032.

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North America is Expected to Account for a Significant Share in the Overall Market of Cosmetic Chemicals

North America accounts for a significant share in the overall market of cosmetic chemicals. This can be attributed to the increasing use of cosmetic chemicals for manufacturing organic personal care products. In addition, increasing research and development investments by manufacturers, coupled with the associated technological innovations in ingredient processing, is boosting the market in the North America region. In the United States, the cosmetic and personal care industry is rapidly growing on account of the rising per capita disposable incomes of the people.

Further, the surge in demand for skincare products among individuals is an additional factor stimulating the growth of the market. As a result, manufacturers in the country are taking an integrated approach towards health and beauty products to meet the rising demand for products like face creams, sunscreens, and makeup products. In addition to this, many industry players are focusing on increasing the cross-over of biotechnology, pharmaceutical, and food ingredient companies into the beauty market, thereby launching technologically advanced products. These factors are thus collectively propelling the demand for cosmetic chemicals, and contributing to the growth of the market.

Cosmetic Chemicals: Market Segmentation

Cosmetic chemicals refer to a combination of chemical molecules derived from synthetic sources and are the primary elements in cosmetic and personal care products like hair colour, colour cosmetics, and make up, among others.

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By product type, the market is divided into:

• Surfactants
• Polymer Ingredients
• Colourants
• Preservatives

The market, based on applications, can be segmented into:

• Skin Care
• Hair Care
• Make Up 
• Oral Care
• Fragrances
• Others

The EMR report looks into the regional markets for  cosmetic chemicals like  North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Cosmetic Products is Augmenting the Market Growth of Cosmetic Chemicals

The global market for cosmetic chemicals is growing owing to the increased demand for beauty products by the growing population of working women. The growing awareness and increased spending power are driving the market growth, especially in developed countries. In line with this, consumers are  becoming increasingly conscious of the products they use and there is a surging demand for mild, natural, and non-animal-based products. This trend has led to the manufacturers growing interest in environmentally friendly products, thereby positively impacting the growth of the market.

The introduction of organic products by leading market players is another factor propelling the growth of the market.  In addition to this, the cosmetic industry is witnessing a huge demand for UV absorbent lotions for personal care, which is boosting the growth of cosmetic chemicals. Moreover, the market growth can further be associated to the rising demand for personal care products for men. The expansion of product lines catering to a wide group of individuals is thus augmenting the growth of the market.

Key Industry Players in the Global Cosmetic Chemicals Market

The report gives a detailed analysis of the following key players in the global cosmetic chemicals market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Solvay SA
• Cargill Incorporated
• Croda International PLC
• The Dow Chemical Company
• Evonik Industries AG
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report