Global Retinol Market Size Study & Forecast, by Type (Natural, Synthetic), by Application (Personal Care & Cosmetics, Dietary Supplements, Food & Beverage, Animal Feed, Others) and Regional Analysis, 2023-2030

Global Retinol Market Size Study & Forecast, by Type (Natural, Synthetic), by Application (Personal Care & Cosmetics, Dietary Supplements, Food & Beverage, Animal Feed, Others) and Regional Analysis, 2023-2030

Global Retinol Market is valued at approximately USD 1.33 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 3.8% over the forecast period 2023-2030. Retinol is a form of vitamin A, which is a fat-soluble vitamin essential for various physiological functions in the human body. It is commonly found in animal-based food sources, such as liver, eggs, and dairy products. Retinol plays a crucial role in promoting healthy vision, supporting the immune system, and maintaining the health of skin and mucous membranes. The growth of the retinol market is propelled by its widespread adoption in various application industries such as personal care & cosmetics, animal feed, and food & beverages. The personal care & cosmetics industry, in particular, has been experiencing rapid expansion due to the rising awareness among consumers regarding personal hygiene and a growing preference for natural and organic products.

The global retinol market has been witnessing substantial growth, largely fueled by the increasing demand for skincare products. As reported by Cosmetic Executive Women in 2020, the sales of skincare products experienced a significant surge in the first quarter of 2019, amounting to USD 1.4 billion. The skincare market is projected to continue its growth momentum in 2020, with Statistic forecasting an annual increase of 3.5% through 2023. By 2024, it is estimated that the global expenditure on skincare is likely to reach a substantial rise of USD180 billion. The retinol market is further driven by the growing occurrence of vitamin A deficiency among the population , where retinol is commonly used to address this issue. Moreover, retinol is gaining high traction in various applications across the pharmaceutical industry, particularly in the development of retinol-based drugs. These drugs are utilized in the treatment of various conditions, such as acne, psoriasis, and certain types of cancer. However, the retinol market faces certain restraints that impact its growth. These include the potential side effects associated with retinol usages, such as skin irritation and sensitivity, which is limiting its widespread adoption. Additionally, theexecution of regulatory restrictions is creating several barriers, especially for price-sensitive markets, which is stifling market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Retinol Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022. The expansion of the cosmetics industry in Europe, fueled by the introduction of innovative color ranges for skincare products and targeted treatment approaches, is driving the market growth. Growing concerns among consumers in European countries regarding skin cancer and sun exposure have further led to increased adoption of diverse skincare products. North America is expected to be a fastest growing region during the forecast period, owing to factors such as to the high spending capacity, rising use of retinol in personal care products and cosmetics, and growing R&D activities.

Major market player included in this report are:
DSM Nutritional Products
BASF SE
Merck KGaA
Adisseo France SAS
Zhejiang NHU Co., Ltd.
Dishman Carbogen Amcis Ltd
Roquette Frères
DFE Pharma
Xi'an Haotian Bio-engineering Technology Co., Ltd.
Xinfa Pharmaceutical Co., Ltd.

Recent Developments in the Market:
In January 2023, Derma E, a prominent brand in the skincare industry, introduced a new vegan product called Retinol Concentrated Serum. Designed to renew the skin, this dermatologist-recommended serum utilizes 0.5% encapsulated retinol technology, ensuring a gradual release for optimal outcomes. Part of Derma E's Anti-Wrinkle Collection, this serum has a natural orange-red color that blends seamlessly into the skin, appearing colorless.

Global Retinol Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Natural
Synthetic

By Application:
Personal Care & Cosmetics
Dietary Supplements
Food & Beverage
Animal Feed
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
DSM Nutritional Products
BASF SE
Merck KGaA
Adisseo France SAS
Zhejiang NHU Co., Ltd.
Dishman Carbogen Amcis Ltd
Roquette Frères
DFE Pharma
Xi'an Haotian Bio-engineering Technology Co., Ltd.
Xinfa Pharmaceutical Co., Ltd.

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