Cosmetic Antioxidants Market - Forecasts from 2024 to 2029

Cosmetic Antioxidants Market - Forecasts from 2024 to 2029

The cosmetic antioxidant market will accelerate from US$154.797 million in 2024 to US$207.514 million in 2029 at a CAGR of 6.04%.

Antioxidants are vitamins and minerals that protect DNA, lipids, and proteins from free radicals. It entails the creation of fragrances, oils, and fats that improve the appearance of damaged skin, due to which they are utilized in skincare, haircare, and makeup applications. The booming demand for anti-aging cosmetics, followed by innovation in skin-care products, is accelerating the market growth.

Additionally, the rise in the average age of the population is also driving the consumption of cosmetics with antioxidant properties. With the improvement in disposable income and increasing awareness about personal hygiene, the market is expected to witness an upward trajectory. The continuous growth in organized retail and the emergence of a young urban population in emerging nations have further augmented the market growth.

Other additional factors that have influenced the international market's growth include rising aspirations, an increase in the number of working women, changing lifestyles, increased affordability of lifestyle-oriented and luxury products, greater product choice, and availability of specific products on the e-commerce platform.

Cosmetic Antioxidant Market Drivers:

The rising aging & working population is stimulating the market expansion.

Cosmetic products with antioxidant properties are rich in Vitamin C & E, carotenoids, and flavonoids, which improve aging skin conditions by stimulating the production of new cells and reducing DNA damage. The booming aging and working population globally has furthered the scope of consumption of cosmetics antioxidants in the coming years. With the changing lifestyles followed by the growth in the e-commerce & retail sector, the demand is anticipated to witness further progression.

According to the World Health Organization, by 2030, 1 in 6 people in the world will age over 60 years, and by 2050, the population of people aged 60 years and above will reach 2.1 billion, with 80% of the population residing in the middle to lower-income nations. As per the United Nation’s “World Population Aging 2023” report, between 2023 and 2050, the share of the working-age population is expected to witness a threefold growth in Africa, and with the growing demographic transition, the share of the working class is expected to show constant growth in the coming time.
Rising awareness about personal hygiene is propelling the market growth.

Antioxidant cosmetics provide essential nutrients to the skin, protecting it from external radicals that lead to various skin diseases and infections. With the growing personal hygiene among people, the demand for antioxidant cosmetics is anticipated to show positive growth in the coming years. According to the “Beauty & Personal Care Industry Assessment” issued by NBCUniversal for 2023, it was stated that post-pandemic personal hygiene has grown from a functional category to a self-routine cornerstone in the United States, with 35% of the users emphasizing the ingredients used in their body care products.

Growing climate changes and weather fluctuations have propelled the demand for facewash, UV protection creams, and other skincare products. This demand is also boosting the market demand for cosmetic antioxidant products, thereby adding more to the overall expansion.

Cosmetic Antioxidant Market Segment Analysis
Anti-aging is expected to account for a considerable market share.

Based on function, the global cosmetic antioxidant market is segmented into anti-aging, anti-inflammatory, UV-protection, moisturizing, hair cleansing, hair conditioning, and others. The anti-aging function is expected to account for a remarkable market share, fuelled by the growing self-consciousness among people and the urge to look younger in the elderly population, especially females. Hence, the major cosmetic brands are focusing on personalization and sustainability in their products to expand their customer base, both male & female.

Likewise, UV protection and moisturizing functions are expected to grow at a steady rate, which is attributable to the ongoing climate changes caused by global warming, which has led to the development of various skin-related infections. Lotions and creams having UV-resistant properties provide an additional layer to the skin that protects it from such external factors.
Skincare will account for a remarkable market share in the given timeframe.

By application, the global cosmetic antioxidant market is segmented into skincare, haircare, and makeup. Skincare is estimated to constitute a considerable market share fuelled by evolving consumer preference for beauty products coupled with ongoing trends of looking more attractive.

The Asia-Pacific region has a sizable market share.

Geographically, the global cosmetic antioxidant market is analyzed into North America, South America, Europe, the Middle East and Africa, and the Asia-Pacific region. The latter is showing drastic growth in the market size, fuelled by the increasing inclination for personal care products and aesthetic enhancement.

Moreover, major APAC economies, namely China, India, Japan, and South Korea, are witnessing significant growth in cosmetic consumption. For instance, according to the Q1 2024 report of Japanese cosmetic firm Shiseido, the company witnessed 3.9% growth in its overall cosmetic sales. Japan’s business showcased 19.3% growth, followed by overall APAC business with 11.2% growth.

Likewise, the North American market is poised for constant expansion, which is attributable to the booming transition to self-awareness followed by a growing working-age population and urbanization in major regional economies, namely the USA and Canada. Moreover, Europe and the MEA region will also witness steady growth due to the strategic efforts to bolster innovations in cosmetics solutions.

Cosmetic Antioxidant Key Market Development:

In April 2024, Cosphatec introduced its “Cosphaderm® Tocopharin,” an antioxidant blend that preserves the shelf life of skin-case cosmetics without compromising the overall smell and flavor. Hence, the product would bolster the skin oxidation process, thereby bolstering the overall functionality.
In March 2024, Givaudan Active Beauty introduced its biotech molecule “Illuminyl™ 388”, which was developed through the biocatalysis of EGCG antioxidants. The bio-molecule is designed to provide a holistic luminous effect that would address the skin pigmentation challenges for all skin types.
In March 2023, Evonik Industries showcased its innovations at the cosmetic trade show in Barcelona, including the company’s new testing oxidative method. This optimizes the use of antioxidants in cosmetics, thereby improving the product’s overall efficiency.

The Cosmetic Antioxidant market is segmented and analyzed as follows:

By Function

Anti-Aging
Anti-Inflammatory
UV Protection
Moisturizing
Hair Cleansing
Hair Conditioning
Others

By Type

Vitamin
Polyphenols
Enzymes
Carotenoids
Others

By Application

Skin Care
Hair Care
Makeup

By Geography

North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Others
Middle East and Africa
Saudi Arabia
United Arab Emirates
Others
Asia Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Others