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A myriad of factors influence the buying trends as well as impacting market growth for Cosmetic Antioxidants. These are all important market forces for those companies and other stakeholders trying to navigate the rapidly changing world of cosmetic antioxidants.
Now that consumers have become familiar with the concept of skincare as well as what antioxidants are and do, people begun looking for cosmetic products which contain ingredients such a these. The use of natural and organic antioxidants also represents a larger trend in health-oriented consumption.
Extraction and formulation of antioxidants are continually being developed, so that cosmetic products with these substances can be better stabilizers in use. Nano-encapsulation and nano delivery carriers greatly improve the bioavailability and efficacy of antioxidants in skincare formulations. This market depends very much on the regulations governing quality and safety of cosmetic ingredients.
The regulatory environment affects product development and marketing, so market players must naturally satisfy requirements. Disposable incomes and economic conditions are directly connected with whether consumers buy cosmetic products, including those containing antioxidant substances. Economic cycles influence both production costs and consumer spending capacity, which determine the market dynamic.
Given the intensity of competition among key market players, technical innovation and product differentiation are stimulated. These include strategic alliances, mergers or acquisitions. As interest in clean beauty and sustainability grows, natural antioxidants have found a market. Advanced technologies, such as artificial intelligence are now being used in the formulation of skincare.
Across the globe, market dynamics are different due to regional cultural differences, climate preferences and regulatory divergence. Diversified markets call for local marketing strategies. With the increasing emphasis on overall wellness, antioxidants are needed not only in cosmetics but also as additives to dietary supplements and health foods. Beauty-from-within concepts are gradually creeping into product development and marketing.
Rising prices for raw materials and disruptions in the supply chain may increase costs or affect availability. To avoid risks and ensure continuity, companies need to have excellent supply chain management policies. The spread of COVID-19 has compelled sellers to swiftly change over online channels for product sales, while it has changed consumer shopping patterns. Antioxidant skincare products have benefited from a pandemic focus on self-care.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Source, Type, Application and Region |
Cosmetic Antioxidants Market Highlights:
Global Cosmetic Antioxidants Market Overview
The Cosmetic Antioxidants Market Size was valued at USD 127.30 billion in 2022. The Cosmetic Antioxidants industry is projected to grow from USD 135.26 Billion in 2023 to USD 222.23 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.40% during the forecast period (2023 - 2030).
Natural compounds made up of minerals and vitamins are used as cosmetic antioxidants. It helps in the struggle against free radicals, which harm DNA, lipids, and proteins. In addition to dry skin, wrinkles, dark circles, and a loss of suppleness, the injured skin cell also contributes to ageing. Dermatological formulations' fats, fragrances, and oils are prone to auto-oxidation due to air exposure, chemical deterioration, and off production.
Cosmetic Antioxidants Market Trends
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Increase in E-Commerce Sales of Cosmetics Products
Consumer behaviour has shifted from offline to online shopping as a result of COVID-19. Online cosmetic retailers have successfully attracted a variety of new consumers with their behavioural retargeting strategies. Customers are reluctant to visit cosmetic establishments and request a free sample during the post-pandemic period. Because of this, people believe it is secure to buy skincare and hair care items online. Due to the coronavirus pandemic, certain cosmetics merchants were forced to down their storefronts sooner than planned in 2020. As a result, they created online features to replicate the in-store experience and make customers feel more secure when purchasing products online. Interactive product-matching tools, augmented reality, online tests, and virtual consultations are a few of these characteristics.
Cosmetic Antioxidants Market Segment Insights
Cosmetic Antioxidants Source Insights
Natural: Throughout the projected period, this market segment is anticipated to develop the fastest. Natural products come only from natural sources and include things like turmeric, green tea, and extracts of rosemary. The increasing worry over synthetic products and the growing preference for natural products are the key drivers of this segment's growth.
Synthetic: The majority of the market share belongs to this sector. Petroleum-based products are a source of synthetic antioxidants. Among the synthetic antioxidants are tert-butyl hydroquinone (TBHQ), butylated hydroxyanisole (BHA), butylated hydroxytoluene (BHT), niacinamide, and propyl gallate (PG).
In November 2020, Anomera, an internationally recognised developer in green chemistry, materials science, and sustainable manufacturing, and Croda International Plc ('Croda') have announced a new partnership.
In April 2020, With PGT, a biologics firm that develops and markets next-generation vaccines for areas of significant unmet or underserved needs in food safety and animal health, Kemin Industries has inked an exclusive deal to licence PGT's Salmonella vaccine for poultry.
Figure 2: COSMETIC ANTIOXIDANTS MARKET, BY SOURCE, 2022 & 2030 (USD BILLION)
Cosmetic Antioxidants Regional Insights
In terms of revenue share, Asia Pacific led the market for cosmetic antioxidants in 2022. The population growth in nations like China, India, and Japan is to blame for this. According to the United Nations Population Fund, Asia Pacific is the region with the biggest population, accounting for more than 60% of all people worldwide (UNFPA). The Asia Pacific region's expanding population has increased demand for cosmetic and personal care goods, which will likely fuel market expansion over the next years.
Figure 2: COSMETIC ANTIOXIDANTS MARKET, BY REGION, 2022 & 2030 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Cosmetic Antioxidants Key Market Players & Competitive Insights
The rapid innovation of new and rising players in the industry is projected to cause the competition among competitors in cosmetic antioxidants to increase in the future. By creating and releasing new products, manufacturers hope to expand their product lines. The competition among international producers of cosmetic antioxidants is anticipated to expand as a result of this issue.
Key Companies in the Cosmetic Antioxidants market include
- BASF SE
- Koninklijke DSM NV.
- Wacker Chemie AG
- Eastman Chemical Company
- Lonza Group
- Croda International Plc
- Ashland Holdings
- Evonik Industries AG
- Kemin Industries, Inc.
- Barentz International BV
Cosmetic Antioxidants Industry Developments
In June 2021: The foremost B2B online marketplace for chemicals in Europe, CheMondis, a chemical distributor, and a speciality chemical supplier, Evonik, announced a new partnership. Paints, coatings, and printing inks from Evonik's Coating Additives business line can now be ordered online via CheMondis.
In June 2021: Increased Cooperation for Drug Substance Production of COVID-19 Vaccination Moderna in the Netherlands Announced by Lonza and Moderna.
Cosmetic Antioxidants Market Segmentation
Cosmetic Antioxidants Source Outlook
- Natural
- Synthetic
Cosmetic Antioxidants Type Outlook
- Vitamins
- Carotenoids
- Polyphenols
- Enzymes
Cosmetic Antioxidants Application Outlook
- Skin Care
- Hair Care
- Makeup
Cosmetic Antioxidants Regional Outlook
- North Americas
- USA
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Middle East & Africa
- Turkey
- Israel
- South Africa
- GCC
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of LATAM
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