Growing demand for natural ingredients coupled with increasing adoption of UV based ingredients in cosmetics globally are key drivers for the market.
NEW YORK CITY, NEW YORK, USA, December 18, 2021 /EINPresswire.com/ — According to the current analysis of Reports and Data, the global Active Cosmetic Ingredients (ACI) Market was valued at USD 3,538.1 Million in 2020 and is expected to reach USD 5,824.9 Million by the year 2028, at a CAGR of 6.30%. In recent years, consumers are getting more inclined towards natural and organic cosmetics. The younger consumers are prioritizing meaning over materialism and are demanding more authentic, transparent, and natural ingredients. In the case of ACI market, plant-based or bio-active ingredients have witnessed a rapid demand and adoption.
Growing demand for natural ingredients coupled with increasing adoption of UV based ingredients in cosmetics globally are key drivers for the market. In addition, to meet the global rise in demand, ingredient manufacturers including Croda International, BASF, Evonik Industries, Givaudan, and Symrise AG, among others, have been launching new ingredients, which is further expected to boost growth.
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Key participants in the market include BASF SE, Croda International, DOW Chemicals, Clariant AG, Ashland Global Holdings, Lonza Group, Solvay S.A, Evonik Industries, Givaudan, and Symrise AG. Croda International is a European specialty chemical company found in 1925.
Fast-moving consumer goods (FMCG) industry has witnessed a massive surge in demand over the recent past owing to rising disposable income level, launch of advanced and innovative products, growing demand for household and personal care products, healthcare products, and food & beverages. Growing consumer inclination towards packaged foods due to increasing lifestyle changes and rapid integration of convenience stores and doorstep delivery has contributed significantly to the revenue growth of the market. FMCGs or consumer goods are frequently purchased, have lower prices, short shelf life, and are consumed rapidly. Consumer preference has shifted to local purchases which has increased promotional efforts by the government and key companies to generate brand awareness in hard-to-reach areas.
The report further discusses in detail the strategic initiatives undertaken by key companies such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches, and brand promotions to gain a robust footing in the market. Key companies operating in the market are profiled on the basis of company overview, financial standing, global and regional market position, production and manufacturing capacity, gross profit margins, and business expansion plans.
Further key findings from the report suggest:
• UV Filters accounted for 11.9% of the market in 2019. Increasing concerns about skin diseases and growing awareness over the risk of skin cancer associated with overexposure to the sun’s UV light is generating enormous opportunities for the manufacturers to invest in this business.
• Powder ingredients are anticipated to dominate the industry. Powder ingredients work well with young or oily skin as they tend to adsorb oily residue. Thus, most of the oily skin regulators formulations are formulated in powder form.
• The adoption of active ingredients for treatment of acne is likely to increase in the forecast period. Acne is considered to be one of the key dermatological issues faced globally. Based on the American Academy of Dermatology, acne is among the most common skin condition in the U.S. and affects approximately 50 million Americans annually.
• Europe is likely to witness a significant CAGR owing to increasing demand from countries such as France, Germany and the U.K. According to a key German skincare brand, skincare is more about wellness and efficacy to the Germans, and thus, they are more focused on ingredients than just finding something considered to be luxurious or pampering experience.
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Ingredient Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Million; 2018-2026)
• Moisturizing Agents
• Anti-Aging Agents
• UV Filters
• Exfoliating Agents
• Antimicrobial Agents
• Other Ingredients
Form Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Million; 2018-2026)
• Other Forms
Source Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Million; 2018-2026)
Functionality Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Million; 2018-2026)
• UV damage
• Skin lightening
End-Use Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Million; 2018-2026)
Distribution Channel Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Million; 2018-2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
• North America
o Rest of the Europe
• Asia Pacific
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
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Key Points Addressed in the Report:
• A detailed analysis of the global Active Cosmetic Ingredients market through assessment of key market aspects such as technology, product type, application, end-use, and overall industry dynamics.
• Qualitative and quantitative analysis of the market estimation from 2021 to 2028 and CAGR calculation for the forecast period.
• All-inclusive assessment of market dynamics with emphasis on drivers, restraints, opportunities, and limitations.
• Extensive profiling of key companies operating in the market including company overview, financial standing, product offerings, product portfolio, recent product and technological advancement, and business expansion plans.
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