Delhi NCR, 05 April 2022 (GLOBE NEWSWIRE) – The growth of the global bio-based cosmetics and personal care ingredients market can be attributed to the growing awareness of the harmful effects of synthetic chemicals, government regulations restricting the practice of synthetic ingredients in personal care products and cosmetics together with the impact of advertising strategies on consumer confidence …
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the global Market for bio-based cosmetics and personal care ingredients it was worth $ 3.5 billion in 2021 and is projected to reach $ 4.9 billion by 2028 with a CAGR of 5.2%. This is attributable to the initiatives taken by various governments around the world to encourage the use of bio-based cosmetics. Furthermore, the growing awareness of the harmful impacts of synthetic cosmetics is pushing the population towards bio-based and natural options, thus driving the growth of the bio-based cosmetics and personal care ingredients market.
Growing demand combined with growing research and development to drive market growth
The growing trend in the use of cosmetics and personal care products based on natural and organic ingredients is expected to drive the growth of the market. Improved R&D investment in research and development, coupled with technological advances in ingredient processing and cost-effective manufacturing technologies, is likely to further strengthen the growth of the bio-based cosmetics and personal care ingredients market. Furthermore, increasing consumer demand for natural ingredients and additives in cosmetic products, due to increasing consumer awareness of the harmful effects of traditional heavy synthetic chemicals, is expected to induce substantial market growth over the forecast period 2022-2028. .
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The vitamin and derivatives segment accounted for the largest market share in 2021 by application
Based on active ingredients, the global market for bio-based cosmetics and personal care ingredients has been segmented into vitamins and derivatives, ceramides, peptides, resveratrol, potassium sorbate, bio-succinic acid, hyaluronic acid, glycerin, creatine , alpha hydroxy acids and others. Amid the segmentation, the vitamin and derivatives segment is expected to lead the global bio-based cosmetics and personal care ingredients market over the forecast period 2022-2028. This can be attributed to the altered lifestyles coupled with the prevailing awareness among consumers of improving their general personality, which should strengthen the global market for vitamins and derivatives.
Impact of COVID-19 on the market for bio-based cosmetics and personal care ingredients
Following the COVID-19 pandemic, the world has seen one of the worst recessions since World War II. The emergence of the COVID-19 pandemic has had a brutal impact on the global market for bio-based cosmetics and personal care ingredients. The lockdown in major countries around the world has stopped the import and export of cosmetics and personal care products. Numerous industries have slowed down or reduced their production, thus severely affecting companies’ revenues. The disruptions in the supply of raw materials acted as a preventive factor that challenged the growth of the sector. These factors negatively impact the overall market trends for bio-based personal care and beauty ingredients. However, as market circumstances improve in the post-COVID era, the growth of the bio-based cosmetics and personal care ingredients market is likely to pick up during the forecast period.
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North America dominated the bio-based cosmetics and personal care ingredients market in 2021
Based on the regional analysis, the global bio-based cosmetics and personal care ingredients market can be segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa. Amid the segmentation, North America dominated the global bio-based cosmetics and personal care ingredients market with the largest share in 2021. North America and Europe hold substantial market shares in the global cosmetics market a bio-based and personal care ingredients mainly due to the growth effects of pollution, for example: premature skin aging, skin cancer risk, roughness, dryness and discoloration, which are pushing consumers to use chemical-free products to save their skin. Additionally, the Asia-Pacific region is currently the fastest growing region on the market.
The market for bio-based cosmetics and personal care ingredients is fragmented, with numerous players serving the market. Major players dominating the global bio-based cosmetics and personal care ingredients market are Ashland, BASF SE, Clariant, Croda International Plc, Covestro AG, DuPont Tate & Lyle Bio Products, DSM, Dow, Evonik Industries AG , Eastman Chemical Company, ELEMENTIS PLC, Genomatica Inc., Nouryon, Sollice Biotech, Solvay, Lubrizol Corporation and other major players. The main marketing strategies adopted by the players are the expansion of the structures, the diversification of the products, the alliances, the collaborations, the partnerships and the acquisition to expand the reach of their customers and gain a competitive advantage in the general market.
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The in-depth analysis of the report provides insight into the growth potential, upcoming trends, and global market statistics of Bio-Based Cosmetics and Personal Care Ingredients. It also highlights the factors driving the forecasts on the total market size. The report promises to provide recent technology trends in the global bio-based cosmetics and personal care ingredients market along with industry insights to help decision makers make sound strategic decisions. In addition, the report also analyzes the growth drivers, challenges and competitive dynamics of the market.
- October 2021: Ashland has launched a new range of gentle deodorants called Sensidin, a pure skin multifunctional that provides powerful and rapid efficacy against odor-causing bacteria at very low usage concentrations while respecting the individual microbiome.
- June 2021: Symrise has announced the launch of Hydrolite 7 Green, a new generation 100% multifunctional cosmetic. The unique 7-carbon alkan diol is said to be made from sustainably sourced castor oil. It is a clear, colorless and clean ingredient that can be supplemented with various traditional or green cosmetic formulations, which work on almost any skin type.
Scope of the report:
|Years considered||Historical data – 2018-2021|
|Base year – 2021|
|Forecasts – 2022-2028|
|Get covered||Revenue in millions of dollars|
|Market coverage||United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, United Arab Emirates, South Africa|
|Product / service segmentation||By type of product, by application, by active ingredients and by region.|
|Key players||Major players dominating the global bio-based cosmetics and personal care ingredients market are Ashland, BASF SE, Clariant, Croda International Plc, Covestro AG, DuPont Tate & Lyle Bio Products, DSM, Dow, Evonik Industries AG , Eastman Chemical Company, ELEMENTIS PLC, Genomatica Inc., Nouryon, Sollice Biotech, Solvay, Lubrizol Corporation and other major players.|
By product type
- Conditioning polymers
- Rheological control
- Others (UV absorbents and hair fixing polymers)
For Active Principles
- Vitamins and derivatives
- Potassium sorbate
- Bio-Succinic Acid
- Hyaluronic acid
- Alpha hydroxy acid
- Skin and sun care
- Hair care
- Makeup and color cosmetics
- Others (oral and hygiene)
- North America
- Latin America
- Middle East and Africa
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