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Several factors determine the direction of growth for Cosmetic Antioxidants Market. These variables influence market dynamics and create both challenges and opportunities for industry players. Growth in the market has been fueled by consumers 'understanding of cosmetic antioxidant benefits. As people become more aware of free radicals 'damage to skin, demand is growing for cosmetics with antioxidant properties.
In emerging nations consumer disposable income has grown especially. People with higher disposable wealth are willing to spend their money on luxury cosmetics such as antioxidants. This trend is fueling sales of cosmetic antioxidants. The market has been spurred on by continuous innovation in cosmetic formulations. Cosmetic companies are coming up with highly refined formulas of antioxidants promoting anti-aging, UV blocking and skin health. In the face of problems with product safety and effectiveness, cosmetics regulation has been altered. Ingredient restrictions and clinical validation impact the market. Market actors have to observe this law in order to maintain customer trust and market access.
The global demographic trend toward getting old has increased the user market for anti-aging cosmetics. There are many cosmetic antioxidants, which fight aging. This demographic trend is the market's driving force. The distribution channels are more, so cosmetic items are easier to get. Besides brick-and-mortar stores, online and specialized shops have become sales channels. Diversifying the distribution network makes it easy for market participants to reach more consumers.
As sustainability grows, consumers are gradually becoming aware of the environmental effect of cosmetics. Market participants are bringing out green packaging and natural antioxidants. This strategy pleases eco-conscious shoppers. In response to competitive market forces, marketing and product differentiation have been increasingly aggressive. Companies are also promoting the special points of their antioxidant-infused cosmetics and branding themselves. This competitive environment stimulates innovation and market growth.
Antioxidant compositions have become more effective and stable with the advance of cosmetic technology. Nanotechnology has also made antioxidant distribution and cosmetic lotion absorption through the skin more efficient. Global and regional economic conditions affect consumer spending. The consumer is impacted by economic indicators such as confidence and spending power, which affect cosmetic antioxidant demand. The actors in the market must follow changes economic conditions to change their plans.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 127.30 Billion |
| Market Size Value In 2023 | USD 135.26 Billion |
| Growth Rate | 6.40% (2023-2030) |
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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