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Functional Cosmetic Ingredients Market Trends

Report ID: GMI6354
Published Date: Jul 2023
Report Format: PDF

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Functional Cosmetic Ingredients Market Trends

Consumers are increasingly seeking clean and natural beauty products. Functional cosmetic ingredients derived from plants, fruits, and botanical extracts are gaining popularity due to their perceived safety and eco-friendliness. There is a growing demand for multifunctional cosmetic ingredients that offer multiple benefits in a single product. Ingredients with anti-aging, moisturizing, and soothing properties are particularly sought after. Consumers are looking for personalized beauty products tailored to their individual needs.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market for cosmetic ingredients was valued at around USD 3.3 billion in 2022 and is estimated to reach USD 5.5 billion by 2032.

Skin care products held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace by 2032, driven by consumers preference for products with moisturizing, anti-aging, brightening, and soothing properties to address various skin concerns.

The U.S. industry was worth USD 0.7 billion in 2022 and will continue to offer significant growth opportunity from 2023-2032 owing to the strong consumer emphasis on skincare and personal care routines, having functional cosmetic ingredients that offer specific benefits.

BASF SE, Dow Inc., Croda International Plc, Ashland Global Holdings Inc., Clariant International Ltd., Evonik Industries AG, Givaudan SA, Lonza Group Ltd., DSM Nutritional Products AG, Solvay SA, Lubrizol Corporation, Innospec Inc., Eastman Chemical Company, Wacker Chemie AG, Seppic SA) among others.