Cosmetic Chemicals Market Size: $ 21.01 billion in 2020, market growth: at a CAGR of 4.9%. Increase in disposable income in developing countries
NEW YORK CITY, NY, USA, April 11, 2022 /EINPresswire.com/ – Global cosmetic chemicals market size is projected to reach $ 31.04 billion in 2028 and record a CAGR of 4.9% in the forecast period, according to the latest Reports and Data report. The increase in disposable income among consumers in developing countries, the growing preference for anti-aging products, the growing demand for cosmetic products formulated with non-toxic ingredients, the availability of personalized cosmetics and the increase in spending on cosmetic products premium are some key factors driving market revenue growth. Cosmetic chemicals are a combination of chemical compounds obtained from different synthetic sources. Cosmetic chemicals are used to enhance the physical and functional qualities of personal care products such as creams, shampoos, conditioners, lotions, toners, and make-up cosmetics.
Some of the main functions of cosmetic chemicals are hydration, cleansing and coloring. The cleaning segment is expected to post a relatively faster revenue CAGR throughout the forecast period. This can be attributed to the growing demand for lighter skin and the growing awareness of the negative effects of powder on the skin. The increase in investment by private investors in cosmetics R&D and the growing focus on the development of active ingredients for cosmetics are some key factors that should drive the revenue growth of the global cosmetic chemicals market in the forecast period.
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Major players in the market report include Dow, Bayer AG, Ashland Inc., Eastman Chemical Company, Akzo Nobel NV, BASF SE, Lanxess, P&G Chemicals, Solvay SA, and Evonik Industries AG.
Some highlights of the report:
In August 2021, Jowell Global announced its cooperative relationship with Hope Bio-Technology. This partnership will help both companies develop new cell technology-based skin care products, cosmetics, health supplements and nutrition.
The emollients and moisturizers segment accounted for the largest share of revenue in the global market in 2020. This can be attributed to the growing preference for soft, hydrated skin and the growing demand for face creams, lotions and lipsticks.
North America accounted for the largest share of revenue in the global market in 2020. Strong presence of key market players and increased investment by private investors in cosmetics R&D are some of the key factors driving market revenue growth in this region.
Learn more about the report @ https://www.reportsanddata.com/report-detail/cosmetic-chemicals-market
For the purposes of this report, Reports and Data has segmented the Cosmetic Chemicals market based on products, applications, functions, and regions:
Product Outlook (Revenue, USD Billion; 2018-2028)
Emollients and moisturizers
Dyes and pigments
Emulsifying and thickening agents
Outlook Application (Revenue, USD Billion; 2018-2028)
Outlook Function (Revenue, USD Billion; 2018-2028)
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Regional Outlook (Revenue, USD Billion; 2018-2028)
Middle East and Africa
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