The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
The global cosmetic ingredients market was valued at US$ 14,671.2 Mn in 2015, and is expected to grow at a year-over-year rate of 4.4% to reach US$ 15,313.9 Mn in 2016. In terms of value, Western Europe dominated the global cosmetics ingredients market with 28.0 % share in 2015. Western Europe and North America collectively are expected to account for 54.1% of the total cosmetics ingredients market share in terms of revenue in 2016
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Key trends in the global cosmetic ingredients market include rapid urbanisation, introduction of innovative products with more visible effects, growing disposable income, and increasing emphasis on appearance and good-looks.
On the basis of product type polymer segment is expected to witness the highest growth, followed by surfactant segment. These two product type segments are anticipated to witness a year-over-year growth of 3.6% and 5.3% respectively in 2016.
On the basis of application, the global cosmetics ingredients market is segmented into hair care, skin care, fragrance, make up, oral care and products including shaving kits and body hair removers. Skin care is the largest application segment, accounting for 31.6% revenue share of the market in 2016. This segment is anticipated to grow by 5.2% in 2016 to reach US$ 4,816.4 Mn in revenues.
By functionality, the cosmetics ingredients market is segmented into foamers & cleansing agent, moisturising, fragrance, toners and colouring agents. Amongst these segments, moisturising is the largest segment in terms of revenue, accounting for 25.1% share in 2015. This segment is anticipated to witness a year—over-year growth of 4.8% in 2016 to reach US$ 3,856.4 Mn.
Regionally, Western Europe will continue to remain the largest market for cosmetic ingredients in 2016. The market in the Western Europe is expected to grow by 3.8% in 2016 to reach US$ 4,256.9 Mn in revenues. The key factors fuelling the market in the region include increasing demand for skin care and hair care ingredients such as surfactant t, emollient, polymer – particularly specialty cosmetic ingredients such as antimicrobial and UV absorber. Other trends driving market growth include rapid urbanisation in developing countries and development of new and innovative products by various players in the market. North America, the second-largest market for cosmetic ingredients globally is anticipated to increase at 4.6% in 2016.
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The global cosmetic ingredients market is expected to increase at a CAGR of 4.5% during the forecast period 2015−2025.
PMR new research report offers market forecast and analysis on the global cosmetic ingredients market. Demand for cosmetic ingredients is growing as consumers put increasing emphasis on appearance.
- BASF SE
- Akzo Nobel N.V.
- Croda International Plc
- The Dow Chemical Company
- Eastman Chemical Company
- End-use Companies
- Loréal International
- The Estée Lauder Companies Inc.
- COTY Inc.
- Colgate-Palmolive Company
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