Cosmetic ingredients market set to grow by USD 5.79 billion from 2024-2028

The global cosmetic ingredients market is forecast to reach USD 5.79 billion (at a CAGR of 7.76%) from 2024-2028, according to Technavio. Demand for natural and organic cosmetic ingredients is driving market growth, with a trend towards clean labeling in cosmetic formulations.

In its latest industry report, Technavio notes the continuing move towards clean labeling, which involves limiting synthetic ingredients for transparency, safety, and authenticity. This trend has led to a decrease in the use of artificial and synthetic components. The firm says Koninklijke DSM NV and BASF SE are expanding their clean-label cosmetic ingredient offerings. This focus on clean labeling is expected to boost R&D activities for the development of eco-friendly alternatives during the forecast period.

Products such as facial masks, washes, and sunscreens contain various ingredients such as face masks, acids, masks, serums, oils, and water. The hydrating and exfoliating properties of acids especially hyaluronic acid and alpha hydroxy acids make them prevalent in masks and washes. Coppers, peptides, and zinc oxide remain key ingredients in sunscreens.

The antioxidant trend is also popular, with the use of vitamin C and retinol in various cosmetic products. The market for body lotions and moisturizers is also growing, with the inclusion of essential oils and plant extracts. Overall, the cosmetic ingredients market is dynamic, with new trends emerging continually.

The key market players include Alfa Chemicals Ltd., Ashland Inc., Aston Chemicals Ltd., BASF SE, Clariant International Ltd., Croda International Plc, Dow Chemical Co., Eastman Chemical Co., Evonik Industries AG, Givaudan SA, J M Huber Corp., Koninklijke DSM NV, Lonza Group Ltd., Lucas Meyer Cosmetics, Nouryon Chemicals Holding BV, Pharmacos India, Solvay SA, Symrise AG, The Estee Lauder Companies Inc., and Wacker Chemie AG.

(Thumbnail photo: Olesia Bekh I Dreamstime.com)