Retinols Market In 2023 | Technological Trends, SWOT Analysis, Product Launch, New Techniques And Top Key Players Till 2028
Research Reports
Feb 03, 2023
The global retinol market size was USD 780.36 million in 2021 and is expected to register a steady revenue CAGR of 4.51% during the forecast period. Key factors such as increasing demand for anti-aging skincare creams, rising prevalence of vitamin A deficiencies leading to night blindness, corneal ulcers, and diarrhea, growing awareness about personal health, and rising demand for nutritionally rich processed food products are expected to drive global market revenue growth during the forecast period.
Retinol is a type of retinoid, derived from vitamin A and is one of the best-known skin care ingredients currently popular in the market. It is primarily used for treating various types of skin concerns and skin diseases, reducing wrinkles, fine lines, sun spots, uneven skin textures, and other signs of facial aging. In addition, this is also used to treat pigmentary conditions such as actinic lentiginous, melasma, and post-inflammatory hyperpigmentation.
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Growing awareness about skincare routines, rising brand endorsements, and social media marketing are increasing the sales of retinol products. Other factors such as rising disposable income and increasing research and development activities to develop nanoparticles for skin treatment are expected to drive global market revenue growth going ahead.
However, rising health concerns due to excessive consumption of vitamin A, low awareness about importance of retinol supplements, and stringent regulatory norms for product approval are expected to hamper overall market growth to a certain extent during the forecast period.
Natural Segment To Register Rapid Revenue CAGR:
The natural segment is expected to register rapid revenue CAGR over the forecast period. This can be attributed to increasing preference for natural and plant-based products to eliminate the chances of chemical additivities, steady increase in the availability of natural products, and rising investments to cater to rising consumer demand.
Cosmetic Segment to Account for Largest Revenue Share:
The cosmetic segment is expected to account for largest revenue share between 2021 and 2028 owing to increasing focus on maintaining skin health, rising demand for flawless skin, growing awareness about benefits of retinol on skin, and rising availability of various types of cosmetic products containing retinol.
North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period owing to increasing popularity of nutritional-rich supplements, growing awareness about micronutrient deficiency, and rising number of ophthalmic disorders and skin conditions. Moreover, rising demand for anti-aging creams, presence of leading manufacturers, and increasing investments in developing advanced products are expected to drive North America market growth during the forecast period.
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Retinols Market By Company:
DSM
BASF
Zhejiang NHU
Adisseo
Zhejiang Medicine
Kingdomway
Retinols Industry Recent Developments:
In August 2021, Glossier, a beauty products company focused on offering wide range of skincare, bodycare and fragrance products, announced the launch of its first retinol product named Glossier Universal Pro Retinol.
In October 2021, No. 7 Beauty Company announced the launch of pure retinol collection including retinol night eye cream and night cream for enhance overall appearance of fine lines and wrinkles.
The global retinols market has been segmented based on type, application, and region:
Retinols Market Segment by Type:
Synthetic Retinol
Natural Retinol
Retinols Market Segment by Application:
Feed Additives
Food Additives
Cosmetic
Medical
Others
Retinols Market Segment by Region:
North America (USA, Canada, Mexico)
Europe (Germany, France, UK, Italy, Russia, Italy, Rest of Europe)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
Middle East & Africa (Saudi Arabia, U.A.E, Egypt, South Africa, Rest of MEA)
Key Reasons to Purchase:
Estimates 2023 to 2028 retinols market current market trends and development trends
Market dynamics along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the Retinols market
Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
Brief about impact of COVID-19 on the global retinols market
Key Questions Addressed:
What revenue CAGR is the global market expected to register during the forecast period?
Which key players are leading in the global retinols market?
What is the expected market size of the global retinols market between 2023 and 2028?
What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
What are some of the key challenges that the global market is expected to face during the forecast period?
Which region is expected to account for largest revenue share over the forecast period?
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