Global Cosmetic Chemicals Market to Reach USD 40.12 billion by 2032, Aided by the Rising Demand for Cosmetic Products

The cosmetic chemicals industry has been witnessing revenue growth due to rising demand for beauty goods as people become more concerned about their skin's health and a desire for beautiful and clear skin. There is a surge in demand for skincare products among individuals due to growing awareness regarding healthy skin and skincare. Increasing demand for face creams, sunscreens, and body lotions across the globe is expected to drive the growth of the cosmetic chemicals market. The demand for personal care products is growing substantially, even in the male segment. In addition, there is a higher demand for skin lightening products. These are some factors that are helping the growth of the cosmetic chemicals market. The growing awareness about the importance of healthy skin is further propelling the growth of the market. The increasing desire for health-promoting and self-care products, increasing interest in the power of regimens and routines is driving the skincare product consumption, which, in turn, is anticipated to drive the market over the forecast period.

The robust presence of key market players and rising investment in cosmetics research and development activities are major factors driving the market's revenue growth. For example, in January 2020, BASF SE (ETR: BAS) launched new skincare active ingredients and showcased its active portfolio, which includes Hydagen Aquaporin and Hydrasensyl Glucan, Inolixir, and bioactive ingredients for makeup applications. Hydagen Aquaporin and Hydrasensyl Glucan were designed as skin moisturisers, while Inolixir aids in creating healthy skin and offers a soothing feeling.

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Market Analysis by Product Type, Application, and Regions:

• Based on product type, the market is divided into surfactants, polymer ingredients, colorants, and preservatives.
• The various applications of the market are skin care, hair care, make up, oral care, and fragrances, among others.
• The regional markets for cosmetic chemicals include North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.

Key Findings of the Report:

• Rapid urbanisation, coupled with a rising percentage of working-class women, has augmented the demand for cosmetic products, thereby driving the consumption of cosmetic chemicals across the globe.
• Changing consumer preference towards natural products is driving the market growth.
• Rising disposable income in developing countries and increased private investment in cosmetics research and development is expected to aid in market expansion.
• Increased focus on the development of active ingredients for cosmetics is expected to drive revenue growth in the cosmetic chemicals industry over the forecast period.

Key Offerings of the report:

• The EMR report gives an overview of the global cosmetic chemicals market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for product type, applications, and major regions of cosmetic chemicals.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cosmetic chemicals industry are Solvay SA, Cargill Incorporated, Croda International PLC, The Dow Chemical Company, and Evonik Industries AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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