Cosmetic Antioxidants Market to Capture a CAGR of 6.40% While Touching Approximately USD 222.23 Billion by 2030
Research Reports
Aug 24, 2023
Market Overview
The outbreak of COVID-19 has had a negative impact on Cosmetic antioxidants production due to the disruption in the supply chain across the globe. This is due to the restrictions on travel and face-to-face meetings coupled with lockdown and curfews to limit the spread of the coronavirus. Most of the raw materials suppliers in this market had to shut down their operating facilities due to the outbreak of COVID-19. In response to combat the virus, the key suppliers shifted their focus toward offering help in the pandemic.
Manufacturers in this market have lessened their production capacities owing to the decline in demand from the end-use industries, reduced prices, and disruptions in the supply of raw materials. Key players in the market have seen a decline in revenue in the fiscal year 2020 as compared to 2019. The manufacturers are taking a toll because of reduced demand for products and have announced reduced capital for their prospects.
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Segmentation
Natural products are obtained entirely from natural sources and include products such as rosemary extracts, green tea, turmeric, etc. The growth in natural products is mainly due to the rising concern over synthetic products and the growing preference for natural products. Synthetic antioxidants occur from petroleum products. Some of the synthetic antioxidants include butylated hydroxy anisole (BHA), butylated hydroxytoluene (BHT), niacinamide, propyl gallate (PG), and tert-butyl hydroquinone (TBHQ), amongst others.
- Vitamins like Vitamin A, C, E, and D are increasingly being added to cosmetic products. It provides many benefits such as anti-aging properties, glowing skin, and UV protection, amongst others.
- Carotenoids impart color to cosmetics as well as personal care products.
- Polyphenols are natural antioxidants and are proven anti-inflammatory, anti-aging, antimicrobial, and supporting activity in solar photoprotection.
- Enzymes, such as papain and coenzymes, are highly used in the cosmetic and personal care industry for resurfacing and skin smoothing.
- Skin care applications include moisturizer, UV protection, anti-inflammatory, anti-aging, etc.
- Hair care applications include hair conditioners, shampoos, hair cleaning products, etc.
- Antioxidants like Vitamin C, niacinamide, and retinol are readily used in makeup products such as foundation, lipsticks, fragrances, etc.
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Regional Analysis
Asia-Pacific accounted for the largest market share in the global market and is the fastest-growing regional market. This is widely attributed to the rising cosmetic and personal care industry. North America recorded significant growth in the global market on account of the growing aging population and increasing awareness among consumers about self-care. The demand for cosmetic antioxidants is rising due to the high disposable incomes, an increase in affinity for cosmetics among the youth population, and significant spending on mass and premium cosmetics. The Latin American market is projected to witness notable demand for Cosmetic Antioxidants due to the region’s growing personal care and cosmetic industry, especially in Mexico and Argentina.
Key Companies in the Cosmetic Antioxidants market include
BASF SE
Koninklijke DSM NV.
Wacker Chemie AG
Eastman Chemical Company
Lonza Group
Croda International Plc
Ashland Holdings
Evonik Industries AG
Kemin Industries, Inc.
Barentz International BV
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Industry News
November 2021 – representatives from both Flora Reserve and Sanam announced the launch of the Naox Derma Triple Antioxidant Concentrate at the Society of Cosmetic Chemists New York Suppliers’ Day. Sanam owns and manufactures the ingredient technology and has partnered with Flora Reserve as its exclusive sales representative for the personal care market. The product is the globe’s first coffee plant-derived patented concentrate.
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