Cosmetic Antioxidants Market Size, Share & Trends Analysis Report By Type (Synthetic, Natural), Type By Product (Vitamins, BHA), By Application (Skin Care), By Region, And Segment Forecasts, 2023 - 2030

Cosmetic Antioxidants Market Size, Share & Trends Analysis Report By Type (Synthetic, Natural), Type By Product (Vitamins, BHA), By Application (Skin Care), By Region, And Segment Forecasts, 2023 - 2030

Cosmetic Antioxidants Market Growth & Trends

The global cosmetic antioxidants market size is expected to reach USD 209.63 million by 2030, registering a CAGR of 5.7% during the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by the increasing consumption of cosmetic antioxidants in the cosmetic & personal care industry. Antioxidants protect the human skin from environmental effects. Thus, it is widely consumed in the production of cosmetic and personal care products. The rising utilization of cosmetic and personal care products is expected to drive demand for cosmetic antioxidants in near future.

Cosmetic antioxidants are the ingredients consumed while producing cosmetics to protect and improve human skin cells. It is utilized in a range of cosmetics products such as skin care, hair care, and makeup. It is a highly effective active agent which helps prevent oxidation on the skin. Oxidation leads to loss of skin texture, decrease in natural oils, lack of cleanliness, and discoloration of the skin. Cosmetic antioxidants help protect the skin from all external effects and slow down the aging process. The rising utilization of cosmetic products by the aging population is likely to trigger the demand for cosmetic antioxidants, globally.

The global cosmetic antioxidant market is likely to grow exponentially on account of its rising consumption of cosmetics and personal care products. Concerns like early aging are one of the major driving forces behind the growth of the market. The demand for skin care creams and moisturizers is rapidly increasing. In addition, the growing awareness regarding the consumption of cosmetic and personal care products along with a colossal increase in the geriatric population are some of the reasons that are propelling the growth of the cosmetic antioxidant market. Rapid growth in the population is expected to contribute to the growth of the cosmetic antioxidants market in the foreseeable future.

The outbreak of COVID-19 has been a challenging situation for the cosmetic industry due to the shutdown of more than 30.0% of the cosmetic industry across the globe. Supply chain disruption and international border restrictions amid the prolonged lockdown further deteriorated the market growth. The market reported a slight slump in revenue during the COVID-19 period. However, things started getting better in 2021 and the market witnessed positive growth in that year.

Cosmetic Antioxidants Market Report Highlights

• Skin care application witnessed the highest growth rate of 6.4% from 2022 to 2030 owing to the increasing aging population across the globe
• Natural type recorded the fastest growth rate of 6.2% from 2022 to 2030 on account of the rising awareness regarding the benefits of natural ingredients over synthetic ingredients
• Tert-Butyl Hydroquinone (TBHQ) from synthetic and vitamins from natural type witnessed the highest growth rate of 5.9% and 6.8% respectively from 2022 to 2030. The growth is driven by the rising use of TBHQ in a range of cosmetic products and the rich skin oxidation properties of vitamins
• Asia Pacific is anticipated to witness the fastest growth rate of 6.2% from 2022 to 2030 during the forecast period, on account of the rapid increase in the population