Upcycled Cosmetic Ingredients Market By Applications (Skin Care, Hair Care, Color Cosmetics): Global Opportunity Analysis and Industry Forecast, 2021-2031

Upcycled Cosmetic Ingredients Market By Applications (Skin Care, Hair Care, Color Cosmetics): Global Opportunity Analysis and Industry Forecast, 2021-2031

The global Upcycled Cosmetic Ingredients market size was valued at $231.48 million in 2021 and is projected to reach $433.48 million by 2031, registering a CAGR of 6.6%. In 2021, the skin care upcycled cosmetic ingredients segment accounted for the majority of the total upcycled cosmetic ingredients market.

Upcycled cosmetics are new cosmetic components made from plant-based waste that would otherwise be wasted. Traditional ingredient lists, which are frequently harmful to humans and the environment, can be replaced with upcycled cosmetic ingredients.

Producers of upcycled cosmetic ingredients may find new markets as a result of the increase in demand for vegan cosmetics. The market for vegan cosmetics is anticipated to reach $16.6 billion in value in 2021 and $28.5 billion by 2031, according to AMR research. The skincare segment in vegan cosmetics market is anticipated to expand at a CAGR of 5.2%. The rise of veganism is being fueled by worries about environmental destruction as well as growth in awareness of animal suffering. A lifestyle choice, veganism covers not only food but also clothing and cosmetics. The demand from consumers for plant-based personal care products also boosts market growth. New formulas in skincare, personal care, scent, and makeup have appeared due to the rise in demand for clean, vegan, and cruelty-free beauty products.

Creating any upcycled ingredient and sourcing it directly from the food and beverage industries takes time, trial and error, and R&D investments. Furthermore, despite the abundance of available upcycled ingredients, it is difficult to find more unique and recently launched upcycled ingredients to be used in cosmetic formulations to provide a competitive advantage. Moreover, it must be verified whether the ingredient is an upcycled material or not while using the ingredients in formulations. For example, if cosmetic goods are to be certified organic, manufacturers must be cautious in locating the sources of any recycled materials that must be included. Even if the plant by-product was grown in accordance with organic certification standards, it may not have been processed in a way that conforms to organic certification. As a result, the difficulties in sourcing and using the ingredients in final formulations may have a negative impact on the market for upcycled cosmetic ingredients.

Companies have traditionally relied on a linear economic model to manufacture their products. In the traditional or linear approach, manufacturers obtained their raw materials either through extraction or by producing agricultural resources. Then, with the creation of trash, they used to transform these materials and resources into final products. Furthermore, these companies used fresh water in their processes, and manufacturers did very little waste recovery or utilization. This has had a significant impact on the environment, including greenhouse gas emissions from resource extraction, depletion of nonrenewable resources, and the destruction of biodiversity for agricultural resource production, as well as contamination of the soil, water, or air caused by waste disposal or storage. In contrast to this linear approach, the circular economy emphasizes efficiency and sustainability at all stages of production and encourages upcycling, recycling, and reusing whenever possible. Every step of the process, including production, consumption, and disposal, must be considered using this strategy.

Seeds, peels, flowers, fruit, and other food items that are frequently discarded by the food industry can be upcycled for use in cosmetic products. Commodity products such as vegetable oils, butter, extracts, and fruit seeds that exfoliate are frequently used for skin care and hair care. Specialties, on the other hand, represent a more sophisticated method of food extraction. According to the AMR analysis, almost 20% of the banana production of the world is lost owing to damage and flaws, meaning that roughly 24 million tons of bananas end up in the trash. Formulators can produce Musa sapientum (banana) extract from banana leaves via enzymatic extraction, which can then be utilized as a preservative booster or preservative. For instance, Kadalys is a company based in Martinique that obtains active compounds rich in nutrients for skin treatment by using the pulp and shell of a banana. Similar to this, pectin for cosmetic formulations can be produced from citrus peels via enzymatic extraction. For instance, the Cargill company has created pectin from discarded citrus peels which are used as an emulsion stabilizer and texturizer for cosmetics. Almost all materials derived from plants can be recycled to create new cosmetics. Coffee grounds, walnut shell powder, fruit peel extracts, cacao bean waste, fruits discarded from the juice and jam sector, and even grape waste from wine manufacturing are some of the most popular ones. Thus, the increase in usage of waste from the food and beverages industry to formulate potential ingredients to be used in cosmetic products may drive the upcycled cosmetic ingredients market demand.

The upcycled cosmetic ingredients market is segmented on the basis of application and region. On the basis of application, the upcycled cosmetics ingredient are classified into skin care, hair care, and color cosmetics. On the basis of region, the market is divided across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and Rest of LAMEA). 

Some of the major players analyzed in this report are Givaudan, Symrise, Cargill, OLVEA, Mibelle Biochemistry, P2 Science, Inc., Rahn AG, Hair O'right International Corporation, Lignopure, and SOPHIM IBERIA S.L. 

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the upcycled cosmetic ingredients market analysis from 2021 to 2031 to identify the prevailing upcycled cosmetic ingredients market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the upcycled cosmetic ingredients market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global upcycled cosmetic ingredients market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Applications

Skin Care
Hair Care
Color Cosmetics

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Rest of LAMEA
Key Market Players
RAHN AG
Lignopure GmbH
Cargill, Incorporated
Givaudan SA
OLVEA Group
Mibelle AG
Hair O'right International Corporation
Symrise
P2 Science, Inc.
SOPHIM

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