Specialty Cosmetics Ingredients Market Size, Share, Growth, and Industry Analysis, By Type (Surfactants, Anionics, Non-Anionics, Cationic, Amphoteric, and Others), By Application (Make-up, Fragrance, Other), Regional Forecast From 2024 To 2031

Updated On: 08 April 2024

SPECIALTY COSMETICS INGREDIENTS MARKET REPORT OVERVIEW

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The global Specialty Cosmetics Ingredients market size was USD 1106.04 million in 2021. As per our research, the market is expected to reach USD 1772.94 million in 2031, exhibiting a CAGR of 4.85% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the specialty cosmetics ingredients market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The raw materials used to manufacture skin care products all around the world are personal care ingredients. These components can act as anti-fungal, anti-aging, skin-conditioning, and other compounds in skin care products. Additionally, they can be divided into active and inactive components. Inactive components include surfactants, preservatives, colorants, and polymer materials while active ingredients include anti-aging agents, exfoliants, conditioning agents, and UV protection agents.

Cosmetic ingredients are chemicals, either synthetic or natural, that are incorporated into a variety of cosmetic formulations, such as skin and hair care items, cosmetics for the face, color cosmetics, and perfumes. The faces, hands, and hair are just a few examples of the external body parts that these products are specifically made to preserve, cleanse, and alter or emphasize.

COVID-19 Impact: Pandemic decreased the demand for personal care and makeup products

The demand for personal care chemicals declined during the COVID-19 pandemic in 2020 as consumer expenditure on different personal care goods, such as scents and hair care products, decreased. Due to the COVID-19 pandemic's increased health awareness among customers worldwide, more people are choosing natural and chemical-free products. As a result, during the course of the projection period, the demand for natural personal care products is anticipated to grow quickly. The supply chains, as well as challenges with logistics and transportation, have had a detrimental impact on the growth of the global market for cosmetic ingredients over the past several years. Therefore, manufacturers and market participants in the global market for cosmetic components went to research and development to create new goods that they could then market once the environment for the sector appeared favorable.

Latest Trends

"Creation and promotion of new and innovative products to fuel market growth"

In order to reduce the carbon footprint of their product offerings, a number of significant producers and participants in the worldwide market for cosmetic ingredients are also concentrating on implementing a number of significant adjustments in both their product development and manufacturing cycles. In the upcoming years, this trend is most likely to continue to have an impact on how the market for cosmetic ingredients develops globally. The majority of participants and players in the global market for cosmetic ingredients are also creating and promoting new and innovative products that provide clear and comprehensive information about the product’s health benefits as well as information about the technologies and production methods employed to create these novel products.

SPECIALTY COSMETICS INGREDIENTS MARKET SEGMENTATION 

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• By Type Analysis

According to type, the market can be segmented into, Surfactants, Anionics, non-Anionics, Cationic, Amphoteric, Others

• By Application Analysis

Based on application, the market can be divided into, Make-up, Fragrance , Others

Driving Factors

"Increased demand for natural or herbal cosmetic ingredients to stimulate market demand"

Some of the other key factors contributing to global cosmetic ingredients market revenue growth are increasing research and development activities for effective and skin-friendly cosmetic ingredients, rising consumer awareness about different types of cosmetic ingredients, growing focus of market players on improving the texture, quality, and safety of these ingredients, and technological advances in cosmetic ingredient manufacturing processes, such as incorporation of nanotechnology in cosmetic formulation, use of artificial intelligence in ingredient discovery, and application of microbiomics.

Increased demand for natural or herbal cosmetic ingredients made with botanical extracts, increasing use of CBD extracts and essential oils like tea tree oil, lavender oil, and rosemary oil in cosmetics, and the introduction of new cosmetic ingredients like Merck's most recent RonaCare Hibiscus and RonaCare Rosehip products are all contributing factors to the specialty cosmetic ingredients market growth. The components in these products are derived from nutrient-dense superfoods and are 100 % vegan, halal-certified, and COSMOS-approved.

Restraining Factors

"Awareness amongst consumers to restrict the market growth"

The consumer's growing awareness of the potential negative health effects or side effects of some of the most widely used cosmetic ingredients, such as parabens, aluminum, lead, formaldehyde, triclosan, and phthalates, is one of the major factors limiting the growth of the global cosmetic ingredients market's revenue. Chemicals called parabens, which can be found in the forms of butylparaben, ethylparaben, and methylparaben, are formed from para-hydroxybenzoic acid (PHBA). Numerous studies have found that parabens interfere with hormone function, encourage the growth of tumors, and harm the fetus.

Additionally, the usage of aluminum in cosmetics has been connected to long-term illnesses like Alzheimer's disease and breast cancer. Additionally, research has shown that triclosan exposure over an extended period of time may cause serious illnesses like cancer and liver fibrosis. Additionally, formaldehyde is thought to include carcinogens, which are known to cause cancer and can also irritate the skin and interfere with respiration if consumed or inhaled. Government restrictions on the use of dangerous and poisonous substances as ingredients in cosmetics further impede market revenue growth.

SPECIALTY COSMETICS INGREDIENTS MARKET REGIONAL INSIGHTS 

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"Growing Demand in North America Anticipated to Boost Market Expansion"

The North American market for cosmetic ingredients held the greatest revenue share in the global market in 2021 among the regional markets. Consumers' increased attention to beauty and personal care, particularly among millennials, rising demand for cosmetics like eye and facial make-up, rising incidences of skin and hair issues like hair loss, split ends, dandruff, and premature greying, rising popularity of herbal or natural cosmetic products, and consumers' high purchasing power are all major drivers of regional specialty cosmetics ingredients market share.

Key Industry Players

"Adoption of Innovative Strategies by Key Players Influencing Market Development"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• ALGAKTIV®
• ActivON. Co., Ltd.
• Solvay SA
• Anhui Huaheng Biotechnology Co., Ltd
• Anhui Tianyin Biotech Co., Ltd.Aloe Jaumave
• AKOTT EVOLUTION
• KCC Beauty
• AB Specialty Silicones
• BASF
• Evonik Industries AG
• Adeka
• Ajinomoto Healthy Supply
• Croda International Plc.
• Eastman Chemical Company
• Akzo Nobel N.V.
• Lonza Group

Report Coverage

This report examines an understanding of the specialty cosmetics ingredients market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.