Global Cosmetic Bioactive Ingredients Market 2022-2028
MARKET OUTLOOK
Based on Triton’s research report, the global cosmetic bioactive ingredients market is anticipated to witness growth at a CAGR of 5.84% during the forecast period 2022-2028.
Factors such as rising demand for personal care products, coupled with launch companies introducing new bioactive ingredients, are fueling the market’s growth. Additionally, the rise in male-centric products, the evolution of the cosmetic industry, and the launch of new products are expected to open new opportunities for the cosmetic bioactive ingredients market.
On the contrary, the side effects of personal care products and the harmful impact of cosmetic ingredients on the environment are expected to hamper the studied market’s growth globally.
REGIONAL OUTLOOK
The global cosmetic bioactive ingredients market encompasses North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.
Globally, the Asia-Pacific is expected to witness the fastest growth during the forecast period. This growth can be attributed to changes in lifestyle and rising demand for skincare products. Korean beauty products, for instance, have gained significant traction among the millennials and Gen-Z. This is mainly on account of growing social media trends pertaining to skin, hair, nails, etc. This has encouraged beauty companies to introduce new products containing bioactive ingredients to gain a competitive edge. Thus, these factors are expected to drive the cosmetic bioactive ingredients market.
COMPETITIVE OUTLOOK
The prominent players operating in the market are Croda International, Clariant, Lubrizol, Ashland Global Holdings Inc, Symrise, Nouryon, BASF SE, Dow Chemical Company, Givaudan Active, Momentive Performance Materials, Zschimmer & Schwarz, Solvay, Provital, Evonik, and Gattefossé.
BASF SE is a global leader operating through various segments, including chemicals, materials, nutrition & care, agricultural solutions, and surface technologies. The company provides various personal care products, such as face cream SPF 20, black spot removal face cream, deodorant stick, serum roll-on, etc. It serves clients across North America, Latin America, Middle East and Africa, and the Asia-Pacific. BASF is headquartered in Rhein, Germany.
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