The global cosmetic ingredients market
is expected to be intensely fragmented due to the presence of various
players in the global and regional market. The competition among the
players seem to be extremely tough in order to sustain their position in
coming yes. Some of the major players leading the market are AkzoNobel,
The Dow Chemicals, Croda International, Lonza Group, Clariant AG,
Solvay SA, Evonik Industries AG, Innospec Inc., and Ashland Inc. The
completion between the key players is foreseen to toughen in the
upcoming years as well.
According to the research report by
Transparency Market Research (TMR), the global market for cosmetic
ingredients is estimated to expand at a steady 4.60% CAGR during the
forecast period from 2017 to 2025. The market was valued to be of worth
US$22.89 bn in 2016, and is expected to reach around US$33.80 bn by the
end of forecast period.
The major usage of cosmetic ingredients
are as moisturizing agents, cleansing agents, and coloring agents. Out
of these, the moisturizing agents segment accounts for the most
important share in this market, owing to the rigorous use of
moisturizing compounds in hair care, makeup, and skin care cosmetics.
The analysts are expecting the scenario to be the same in future as
well. Geographically, in 2016, mainly supported by India, Japan, China,
and the Rest of Asia Pacific, the region dominated the global market
with a collective share of 32.02%. This is attributed to the growing
economy of the nations in Asia Pacific region which is shoeing in their
living standard and spending capacities as well, propelling the market
growth.
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Rising Disposable Income to Support Market Growth
Owing to the rise in disposable income
of customers, there has been an enhancement spending abilities and
aesthetic cognizance. This has surged the demand for cosmetic
ingredients to a large extent. Their desire to look good all the time
over the years is driving the revenue of cosmetic products significantly
all across the globe, which unavoidably, is intending towards a
positive angle on the surging demand for cosmetic ingredients. The rise
in consciousness regarding healthy skin and the surging utilization of
anti-ageing cosmetics are in in a way boosting the overall cosmetic
ingredients market altogether.
Cosmetic ingredients are essentially
utilized as cleansing agents, moisturizing agents, and coloring
compounds. Out of these, the moisturizing agent segment accounts for
maximum share in this market, by virtue of the increased usage of the
mentioned segment in hair care, healthy skin, and cosmetic beauty
products. Researchers anticipate that the circumstance will remain same
all through the accompanying couple of years.
