Global Retinol Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2025-2034)

Global Retinol Market Growth

In 2023, the retail sales of all beauty products recorded a year-on-year surge of 10% to reach nearly USD 446 billion. North America, Europe, the Middle East and Africa, and Latin America witnessed year-on-year growth of 9%, 10%, 18%, and 17% respectively. However, the market analysis suggests that the Asia Pacific (excluding Australia and China) recorded the highest growth in retail sales of beauty products, with India leading the market growth. In 2023, overall sales surged y-o-y by 10%, indicating the rising demand for beauty products even among low-income consumers. This is expected to drive the retinol market expansion as it’s extensively used in anti-ageing creams, acne treatment formulations, and sunscreens.

Moreover, as per the International Agency for Research on Cancer (working under the WHO), nearly 20 million new cases of cancers were reported in 2020, while 9.7 million individuals lost their lives. Every 1 in 5 people are expected to develop cancer over their lifetime, with 1 in 12 women and 1 in 9 men at a risk of not improving from treatment. To improve the survival rates among patients, many healthcare providers are switching towards the usage of retinols for treating Acute Promyelocytic Leukemia (APL) and Neuroblastoma, apart from other types of cancers occurring in lungs, women’s breasts, women’s ovaries, prostate gland, gall bladder, and mouth. This is expected to drive the retinol market value over the forecast period.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Key Trends and Developments

Global Retinol Market Trends

The United States and Europe are expected to dominate the global pet food sales till 2030. As per the market analysis, the average cost of owning dogs is expected to reach USD 1520 in the United States and USD 695 in Europe, driven by growing consumer expenditure on healthy and nutritious pet food products. A similar trajectory is observed in cat food, as the cost of ownership has risen to USD 950 in the United States and USD 472.50 in Europe. This is expected to favourably impact the market outlook, as fortified pet food products ensure all-round development of pet health, including reproductive and immunity functions.

Global Retinol Industry Segmentation

Global Retinol Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the Asia Pacific is expected to grow at a CAGR of 4.5% because of growing sales of retinol-based beauty products in the region. Moreover, the increasing consumption of dietary supplements for enhancing eye health and promoting immune strength is expected to drive the market expansion in APAC over the forecast period.

Leading Companies in the Retinol Market

Major players are removing ingredients of concern such as BHA and BHT from their retinol formulations to increase their revenue from cosmetics manufacturers and expand their retinol market share.

BASF SE

BASF SE is a multinational company which was founded in 1865 and is based in Ludwigshafen, Germany. It is involved in the production of numerous functional solutions and materials, apart from performance products and agricultural solutions.

dsm-firmenich

dsm-firmenich was founded in 1895 and is headquartered in Aargau, Switzerland. It is engaged in prod...

Eluminex Biosciences

Eluminex Biosciences is a privately held company engaged in conducting biotechnological research. It...

Merck KGaA

Merck KGaA was founded in 1668 and is headquartered in Darmstadt, Germany. It is a leading science a...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

There are many other players in the global retinol market landscape.