The global cosmetic ingredients market was valued at $ 14,671.2 million in 2015 and is expected to grow at a year-on-year rate of 4.4% to reach $ 15,313.9 million in 2016. , Western Europe dominated the global ingredients market with a share of 28.0% in 2015. Western Europe and North America are expected to collectively account for 54.1% of the total market share of cosmetic ingredients. in terms of revenue in 2016
Key trends in the global ingredients market include rapid urbanization, the introduction of innovative products with more visible effects, increasing disposable income, and a growing emphasis on appearance and good looks.
Based on the product type, the polymer segment should expect the highest growth, followed by the surfactant segment. These two product types are expected to experience year-over-year growth of 3.6% and 5.3% respectively in 2016.
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Based on the application, the global cosmetic ingredients market is segmented into hair care, skincare, fragrances, makeup, oral care, and products including shaving kits and body hair removers. Skin care is the largest application segment, with a market revenue share of 31.6% in 2016. This segment is expected to grow 5.2% in 2016 to reach $ 4,816.4 million in revenue. .
By functionality, the cosmetic ingredients market is segmented into foaming and cleansing agents, moisturizing agents, fragrances, tonics and dyes. Among these segments, the moisturizer is the largest segment in terms of revenue, with a share of 25.1% in 2015. This segment is expected to see year-over-year growth of 4.8% in 2016 to reach 3,856. 4 million US dollars.
Regionally, Western Europe will continue to remain the largest market for cosmetic ingredients in 2016. The Western European market is expected to grow 3.8% in 2016 to reach $ 4,256.9 million in revenue. Key factors fueling the market in the region include the growing demand for skin and hair care ingredients such as surfactant t, emollient, polymer, especially specialty cosmetic ingredients such as antimicrobials and UV absorbers.
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Other trends driving market growth include rapid urbanization in developing countries and the development of new and innovative products by various market players. North America, the second largest market for cosmetic ingredients globally, is expected to grow by 4.6% in 2016.
Major participants in the global ingredients market include Akzo Nobel NV, BASF SE, Croda International Plc, Eastman Chemical Company and The Dow Chemical Company. Major end-use companies identified for cosmetic ingredients include Unilever, L’Oréal International, The Estée Lauder Companies Inc., Colgate-Palmolive Company, and COTY Inc.
The global cosmetic ingredients market is expected to increase at a CAGR of 4.5% over the 2015-2025 forecast period.
The new PMR research report offers market forecast and analysis on the global cosmetic ingredients market. The demand for cosmetic ingredients is growing as consumers place more and more emphasis on appearance.
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