The cosmetic antioxidants market is expected to reach around USD 212 Million by 2028 at a CAGR of 6% from 2021 to 2028.
Cosmetic antioxidants are used in a variety of cosmetic products, including skincare, haircare, and makeup. They can be either naturally derived or chemically synthesised. Vitamins and minerals such as vitamin A, vitamin C, vitamin E, butylated hydroxyanisole (BHA), carotenoids, and butylated hydroxytoluene (BHT), among others, are naturally made into antioxidants. Numerous anti-aging, anti-inflammatory, UV protection, moisturizing, and hair-conditioning products make use of these antioxidants.
Some of the factors anticipated to drive the growth of the global cosmetic antioxidants market include the ageing population, expanding online retail, growing demand from emerging economies, and a growing personal care and cosmetics industry. The development of the global market is further fueled by technological, R&D, and rising demand for natural antioxidants. However, the high price of natural antioxidants and growing scepticism about synthetic antioxidants restrain market expansion. The demand for organic cosmetic and personal care products is further driven by the growing use of natural and eco-friendly ingredients, which is followed by the growing trend of chemical-free food products. In addition, new certifications that compile the requirements for natural products have been brought to the market as a result of these growing concerns. For instance, the Natural Products Association (NPA) created the Natural Standard Certification for Personal Care Products regulatory framework. Another noticeable industry trend is a persistent emphasis on multifunctionality in product development. Although multifunctionality is a fairly established trend in the market, it is now being applied to newer products. Consumer needs are changing in different personal care product categories toward multifunctionality as a result of changing lifestyles.
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Regional Analysis :
North America symbolizes The presence of a sizable cosmetic and personal care business, an ageing population, and rising consumer self-care awareness are the main drivers of market expansion in this region.
Europe, It is where the region’s market is being driven by a well-established cosmetics industry and a strong presence of top firms.
Thanks to the expanding personal care and cosmetics market, increased government spending, and developing countries like India, China, and Thailand. Asia-Pacific market is the biggest and fastest-growing in the world.
Latin America is the region expanding personal care and cosmetics business, particularly in Mexico and Argentina and is the cause of the rising demand.
Middle East & Africa’s high levels of disposable income, rising youth cosmetic affinities, and significant spending on both mass-market and luxury cosmetics are driving up demand for cosmetic antioxidants.
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Market Segmentation :
From Source, the natural and synthetic segments of this market have been further divided. Given that synthetic antioxidants are increasingly being used globally and have lower production and raw material costs than natural antioxidants, the synthetic segment, which makes up the majority of the market, is anticipated to grow strongly during the forecast period. In terms of value, the naturalsegment is anticipated to experience the quickest increase during the forecast period. This growth is attributed to rising consumer interest in natural products as well as increased demand for natural products in the cosmetic and personal care industries.
Based on the kind, It has been further divided into subsections for enzymes, carotenoids, polyphenols, and vitamins. Due primarily to the health advantages vitamins provide for the skin and hair, the vitamin category accounted for the largest market and is anticipated to increase at the fastest rate throughout the projection period. Due to the carotenoid’s expanding use in anti-aging treatments, the category is anticipated to rise strongly during the projected period. By minimising flaking and regaining suppleness, it improves the appearance of dry or damaged skin.
Due to their expanding use as anti-inflammatory, anti-aging, antimicrobial, and supporting activity in solar photoprotection, polyphenols are highly preferred. In the cosmetic and personal care industries, enzymes are widely used for skin resurfacing and smoothing. Other products in this segment include retinol, tert-butylhydroquinone (TBHQ), butylated hydroxyanisole (BHA), butylated hydroxytoluene (BHT), and propyl gallate (PG), among others.
Using Application, the subcategories of this section are skin care, hair care, and makeup. Because of the rising demand for cosmetic antioxidants in skin care products such moisturisers, sunscreen lotions, anti-aging products, etc., the skin care segment now owns the greatest proportion of the global market for cosmetic antioxidants. The market for cosmetic antioxidants is anticipated to grow significantly in the haircare sector due to the increasing use of these products in shampoos, conditioners, and other hair care products.
Applications such as foundation, lipsticks, fragrances, etc. are included in the makeup segment.
Key Players :
The existence of multiple local, regional, and international competitors has helped to consolidate the market for cosmetic antioxidants, with well-known players controlling the majority of the industry. The Lonza Group, Croda International Plc, Ashland Global Holdings, Evonik Industries AG, Kemin Industries, Inc., Koninklijke DSM N.V., Wacker Chemie AG, Eastman Chemical Company, and Barentz International BV are a few notable competitors. To outperform rivals, manufacturers mostly concentrate on acquisitions, joint ventures, and alliances with important stakeholders.
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