Cosmetic Chemicals Market Size, Share, Trends and Forecast, 2032

The cosmetic chemicals market is set for rapid growth over the forecast period. In terms of revenue, the global cosmetic chemicals market accounted for USD 22.45 Billion in 2022 and is expected to reach USD 42.50 Billion by 2030, growing at a CAGR of 7.65%.

Global Cosmetic Chemicals Market: Overview

Cosmetic chemicals are basic ingredients in cosmetic and personal care products that are used to make different formulations. Cosmetic chemicals can be derived from natural or synthetic origins. Natural products usually include plant, animal, mineral, and microbial ingredients. Synthetic cosmetic chemicals can also be derived from natural products. However, cosmetic chemicals are manufactured from derived reagents, catalyst, and complex production processes hence are termed synthetic.

Global Cosmetic Chemicals Market: Growth Factors

The increasing demand for cosmetic products that are formulated from natural and organic ingredients is driving the cosmetic chemicals market. Also, the consumer is willing to spend the money on premium cosmetic products due to increasing disposable income which in turn is boosting the market for organic cosmetic products creating a demand for organic grade cosmetic chemicals. Growing demand for cosmetic and personal care products that are made according to the specific needs of different ethnic groups is also propelling the cosmetic chemicals market. However, the strict legislations associated with cosmetic chemicals safety would result in the rising development costs of new formulations because as the legislations get stricter the substances under scrutiny would be replaced by new formulations.

Global Cosmetic Chemicals Market: Segmentation

The global cosmetic chemicals market can be segmented into product type, application, and region. By product type, the market is categorized into surfactants, film-formers, preservatives, single-use additives, emollients & moisturizers colorants & pigments, emulsifying & thickening agents, and emulsifying & thickening agents. The emollients & moisturizers category had a market share of approximately 28% in the year 2019 making it the category with a major share. Emollients are used in a variety of cosmetic and personal care products such as face creams, skin and body moisturizers, lipsticks, etc. Some of the emollients that are used extensively in the cosmetics and personal care industry derived from a natural source are coconut oil, lanolin, beeswax, olive oil as well as synthetic products such as glycerin, zinc oxide, mineral oil, butyl stearate, petroleum jelly, and diglycol laurate are also used.

Based on application, the market is categorized into skincare, haircare, makeup, oral care, fragrances, and others. The skincare category registered a major market share in the application segment in 2019 with approximately 35% revenue share. This can be attributed to the increasing demand for sunscreens, face creams, and body lotions due to growing concerns regarding skincare and healthy skin routines. The consumer is shifting the preference of cosmetic and personal care products to organic and naturally derived products. Market players such as L’Oréal and Eminence are now more tending to manufacture skincare products that are naturally derived.

Global Cosmetic Chemicals Market: Regional Analysis

Based on regions, the global cosmetic chemicals market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America region is one the major market of cosmetic chemicals due to a growing demand for the manufacturing of personal care organic products. In the North America region, U.S. is the major cosmetic chemicals market as there is a tremendous demand for beauty products while focusing on the health benefit aspects of the product. The biotechnology and health industry in the U.S. is pushing the cosmetic chemicals market even further by bringing out innovative beauty products. This is anticipated to propel the cosmetic chemicals market in North America in the upcoming years.

Global Cosmetic Chemicals Market: Competitive Players

Some of the key players in the cosmetic chemicals market are

• BASF SE
• Givaudan
• Archer-Daniels-Midland Company
• COBIOSA
• Evonik Industries AG
• Solvay S.A.
• Lonza Group
• Bayer AG
• Lanxess AG
• Cargill
• Incorporated
• P&G Chemicals
• Stepan Company
• Symrise AG
• Dow Chemical Company
• Koninklijke DSM N.V.
• Pharmacos
• Croda International Plc
• Genomatica, Inc
• Ashland Global Specialty Chemicals Inc.
• Eastman Chemical Company among others. 

Global Cosmetic Chemicals Market: Segment Analysis

By Product Type

• Surfactants
• Emollients & Moisturizers
• Film-Formers
• Colorants & Pigments
• Preservatives
• Emulsifying & Thickening Agents
• Single-Use Additives, and Others

By Application

• Skin Care
• Hair Care
• Makeup
• Oral Care
• Fragrances, and Others

Global Cosmetic Chemicals Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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