In the next few years, use of skincare ingredients in preparing cosmetics is expected to increase owing to their intrinsic characteristics that help in retaining the skin texture by protecting from harsh climatic conditions such as cold temperature, ultraviolet rays, low humidity and or even chemical and biological irritants such as microorganisms, household dust, and mechanical strain. Key players in the cosmetic ingredients market are gradually adopting various marketing strategies such as mergers & acquisitions, expansions, product launches and innovation.
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Global Skincare ingredients Market by Category
- By Product Type :
- Alpha-hydroxy acids
- Beta-hydroxy acids
- Hydroquinone
- Retinol
- Ascorbic acid
- Hyaluronic acid
- Copper peptide
- Glyceryl stearate
- Lecithin
- By Functionality :
- Active agents
- Additives
- By Application :
- Cleansers
- Creams
- Face wash
- Peels and Scrubs
- Toners
- Lotions
- Face masks
- Face Serums and Gels
- Others
- By Source :
- Botanical-based Skincare Ingredients
- Mineral- based Skincare Ingredients
Competitive Landscape
In today’s era, rising consumption of skincare products has been observed owing to the increased number of beauty conscious consumers. Changing lifestyle and a growing emphasis on external beauty is convincing the consumers to use natural beauty care products that are chemical-free in nature and eliminates the risk of probable allergies. Consumers are looking out for organic products which can be applied on face and can stay all day long, yet have no side effects on skin or body.
This has convinced the skincare ingredients manufacturers to provide large varieties of organic skincare products that addresses the needs and requirements of customers and offer products that enhance customer loyalty. For instance, L’Oreal S.A. has launched a new product named ‘Loreal Paris Pure-Clay Exfoliator and Refine’ which is clay facial cleanser formulated to remove everyday impurities from the surface of your face without over-drying.
Key Takeaways from the Market Study
- Global natural skin care product to hold a market value of USD 7.14 Bn in 2022
- Europe anticipated to secure the largest market share of about 33%
- APAC projected to grow at a CAGR of 6% during the forecast period
- Based on product type, facial care segment to accumulate 71% market revenue
- Demand for body care products to incline at a CAGR of 6% from 2022-2032
- Mass natural skin care products to yield nearly 70% of global market revenue in 2022
“The increasing awareness about the adverse impact of using a chemical-based skin care product is the key factor boosting demand for natural skin care products at a global level.” – says an analyst at Fact. MR.