Global Cosmetic Ingredients Market 2019-2023 | Rising Prominence of Clean Labeling in Cosmetic Formulations to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 11, 2019--
The global cosmetic ingredients market is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global cosmetic ingredients market 2019-2023. (Graphic: Business Wire)
Consumers are increasingly becoming aware of the benefits associated with the use of cosmetics containing natural ingredients. This is encouraging cosmetic companies to offer a wide range of skincare and haircare products containing natural organic ingredients such as coconut, bakuchiol, pumpkin, blue algae, avocado, etc. Several vendors are increasing their R&D efforts to develop natural and organic products as well as to expand their product portfolios. Certain vendors are using ethically and sustainably sourced ingredients to meet the growing demand for organic and natural cosmetic products. The increasing consumer shift toward the use of natural and organic cosmetics is expected to drive the global cosmetic ingredients market growth during the forecast period.
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As per Technavio, the increasing prominence of clean labeling in cosmetic formulations will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Cosmetic Ingredients Market: Growing Prominence of Clean Labeling in Cosmetic Formulations
With the growing trend of clean labeling in cosmetics, vendors have significantly reduced the use of synthetic ingredients in their products over recent years. Cosmetics companies are increasing the use of natural ingredients to promote clean labeling and formulation transparency in their products. This growing trend in the market is encouraging several vendors to increase investments in R&D activities to develop eco-friendly alternatives to synthetic ingredients. These factors will have a positive influence on the growth of the global cosmetic ingredients market during the forecast period.
“Apart from the growing prominence of clean labeling in cosmetic formulations, rising emphasis on health and wellness in cosmetic formulations and increasing consolidation in the global cosmetic ingredients market are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Cosmetic Ingredients Market: Segmentation Analysis
This market report segments the global cosmetic ingredients market by application (perfumes and fragrances, hair care and skin care, color cosmetics, and other cosmetic ingredients), type (emollients, film-formers, and moisturizers, surfactants, single-use additives, carriers, powders, and colorants, thickening agents, and other) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth. This can be attributed to factors such as rise in per capita income among consumers, increasing demand for organic products, and the availability of a wide range of cosmetics.
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Some of the key topics covered in the report include:
Five Forces Analysis
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SOURCE: Technavio Research
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PUB: 10/11/2019 05:00 PM/DISC: 10/11/2019 05:00 PM