The size and growth of the cosmetic bioactive ingredients market driven by the growing preference for natural ingredients in cosmetic products and the increasing number of bioactive ingredients being launched; amino acids segment to hold the largest market share in 2021.
New York, October 08, 2021 (GLOBE NEWSWIRE) – Cosmetic bioactive ingredients market: key information
According to our new research study on ‘Cosmetic Bioactive Ingredients Market to 2028 – Global Analysis and Forecast – by Ingredient Type, Sources and Geography’, the Cosmetic Bioactive Ingredients Market Size expected to reach 2,215.96 million by 2028 compared to US $ 1,529.91 million in 2021; it is expected to grow at a CAGR of 5.4% from 2021 to 2028.
Cosmetic bioactive ingredients market: competitive landscape and key developments
BASF SE, DuPont de Nemours, Inc., FMC CORPORATION, Cargill, Incorporated, Sensient Technologies Corporation, DSM, Ajinomoto Co. Inc., Roquette Frères, ADM and Vytrus Biotech are among the leading companies operating in the cosmetic bioactive ingredients market. The main players are focused on expanding their market presence and acquiring new customers, thereby exploiting existing business opportunities.
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In March 2021, Royal DSM launched three different forms of hyaluronic acid. With the new HYA-ACT range, the company is strengthening its hyaluronic acid portfolio to meet evolving demands for less invasive, reliable and effective beauty care solutions.
In January 2020, BASF’s Care Creations showcased several of its latest active ingredients for personal care products that hydrate and soothe the skin at Cosmet’Agora, Paris. The company also presented its range of active ingredients for make-up formulations at the show.
In 2020, North America dominated the bioactive cosmetic ingredients market and the United States was the largest shareholder in the regional market. Market growth in North America is attributed to the presence of major market players in the region. In addition, Asia-Pacific is expected to register the highest CAGR in the bioactive cosmetic ingredients market between 2021 and 2028.
The growing awareness of environmentally friendly products, coupled with a growing demand for cosmetic products, is a key factor supporting the advancement of the cosmetic bioactive ingredients market. Growing concerns about the side effects of chemical components used in cosmetics are forcing manufacturers to replace these substances with natural materials. Likewise, many brands are focusing on reducing their environmental footprint by using renewable raw materials and more sustainable packaging, as well as adopting greener processes.
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The European Union (EU) has stricter laws for cosmetics than many other developed countries in the world. The European Cosmetics Directive (76/768 / EEC), revised in 2013, banned the use of 1,328 chemicals in cosmetics, as they are suspected of causing cancer, genetic mutations, reproductive disorders or birth defects. This has led cosmetic manufacturers to focus on natural ingredients. This is also followed by the enforcement of strict laws that require manufacturers to prove product safety, forcing cosmetic manufacturers to follow the regulatory framework and use more natural ingredients in their formulations. Thus, the preference for natural ingredients in cosmetics strengthens the market for bioactive cosmetic ingredients.
Cosmetic Bioactive Ingredients Market: Segment Overview
The cosmetic bioactive ingredients market has been segmented on the basis of the type and source of the ingredients. Based on the type of ingredient, the market is segmented into probiotics and prebiotics, omega-3 fatty acids, vitamins, carotenoids and antioxidants, plant extracts, minerals, amino acids, proteins and peptides, etc. Amino Acids segment is expected to hold the largest market share in 2021. However, the Herbal Extracts segment is expected to register the highest CAGR of the market during the forecast period. According to the source, the cosmetic bioactive ingredients market is segmented into plants, animals and microbials. The plant segment is expected to hold the largest share of the market in 2021. However, the microbial segment is expected to register the highest CAGR of the market during the forecast period.
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The COVID-19 pandemic has prompted consumers to prefer “holistic, resilient and more mindful consumption” of salad dressings, food and cosmetics. The effects of the COVID-19 epidemic will change significantly and permanently; the demand for colorful cosmetics is expected to slow and skin care is expected to increase. Personal care companies are seizing new opportunities to provide additional benefits that should be considered. Social isolation and distancing have allowed consumers to spend more time on self-grooming and self-care. Thus, the need for cosmetic products containing bioactive ingredients free from harmful effects of synthetic or chemical raw materials is greatly increasing, which drives the growth of bioactive cosmetic ingredients market through rejuvenation of research and development activities. Several studies have also highlighted the antiviral properties of bioactive ingredients against COVID-19.
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