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Report
Cosmetic Antioxidants Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
The Global Cosmetic Antioxidants Market is projected to register a CAGR of over 4% during the forecast period (2022-2027).
The market was negatively impacted by COVID-19 in 2020, the pandemic disrupted both production and sales of cosmetics through online and offline channels. However, the global situation is normalizing, and the industry's return to stability provides multiple growth opportunities for improving the industry's performance which was affected by COVID-19.
Key Highlights
Natural antioxidants, such as Vitamin E, Vitamin C, and tea tree oil extract, are more expensive than synthetic counterparts due to higher raw material costs.
The high cost of natural antioxidants and growing concerns about the use of synthetic antioxidants have been identified as major restraints in the cosmetic antioxidant market.
Consumers worldwide are leaning toward natural skin care products as a result of the rising demand for naturally derived antioxidants in cosmetics, which is creating an opportunity for the market during the study period.
Asia-Pacific region is expected to dominate the market with the largest consumption of cosmetics containing various antioxidants from countries, such as India and China.
Cosmetic Antioxidants Market Trends
Increasing Usage of Natural Antioxidants in Cosmetics Products
The growing use of natural antioxidants such as vitamin C, vitamin E, and polyphenols are being increasingly used in the cosmetic industry in various anti-aging creams, which is expected to increase the use of natural oxidants in skin care cosmetic products.
Natural antioxidants present in plant extracts include polyphenols, flavonoids, flavonols, flavanols, stilbenes, and terpenes (including carotenoids and essential oils).
The sales from the global markets for cosmetics increased to 80.74 billion US dollars in 2021. According to the Statista Consumer Market Outlook, revenue will surpass USD100 billion by 2022 and will reach an estimated 131 billion US dollars annually by 2026.
Nowadays, premature aging is a major concern among women. The use of antioxidants in beauty care products is estimated to grow. Anti-wrinkle creams and moisturizers are now becoming widely popular.
Furthermore, there is a growing knowledge of the benefits of natural antioxidants such as polyphenols, which can be helpful for skin healing and rejuvenation. Some of the factors which are expected to boost the Global Cosmetic Antioxidant Market include their ability to help reverse indications of ageing such as sunspots, fine lines, and wrinkles, making them a staple in anti-aging treatments.
Owing to all these factors, the market for Cosmetic Antioxidants is likely to grow globally during the forecast period.
Asia-Pacific Region to Dominate the Market
The Asia-Pacific region dominated the worldwide market in 2021, with a significant market share in terms of revenue, and is projected to maintain its dominance during the forecast period of 2022-2027.
China, India, and South Korea are expected to be leading countries witnessing strong demand for cosmetic antioxidants consumption during the forecast period.
The increasing use of high-quality cosmetic products that prevent the skin and hair from the effects of pollution and climate change is driving up demand for antioxidants, fueling the cosmetic antioxidants market.
China is the world's fastest-growing and most dynamic market. Several cosmetics companies have collaborated with influencers, beauty bloggers, and advertising on TV to increase product sales. Local brands in China provide consumers with low-to-mid-priced cosmetic products, whereas foreign players cater to the high-end segment. Nonetheless, to increase sales, domestic players have started to utilize natural extraction methods in their cosmetic products,
Globally, the Indian beauty industry, which includes a wide variety of skincare, makeup, and hair products, is estimated to be worth around USD 7.2 billion in 2023. In 2021, the market size of skincare products in China was USD 15,576 million and in 2025, the revenue will be around USD 21,809 million.
However, international brands were unable to meet the demand for products suitable for Indian skin types, allowing local companies such as Mama Earth, Khadi Essential, and Sugar Cosmetics to promote their homemade cosmetics and personal care products.
South Korea has one of the world's most dynamic beauty markets, introducing industry-leading innovations and setting global trends. In order to succeed, the Korean skin care and cosmetics industry is large, fragmented, and highly competitive, with brands constantly researching and developing new products.
Due to all such factors, the market for Cosmetic Antioxidants in the region is expected to have a steady growth during the forecast period.
Cosmetic Antioxidants Market Competitor Analysis
The Cosmetic Antioxidants market is partially fragmented in nature. Some of the major players in the market include BASF SE, Eastman Chemical Company, Wacker Chemie AG., Croda International Plc, and BTSA Biotecnologias Aplicadas among others (not in any particular order).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rise in Online Purcahse of Cosmetics
4.1.2 Increasing Use of Beauty Products and Personal Care Products
4.2 Restraints
4.2.1 High Cost of Natural Antioxidants
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Source
5.1.1 Natural
5.1.2 Chemically Derived
5.2 Type
5.2.1 Vitamins
5.2.2 Polyphenols
5.2.3 Enzymes
5.2.4 Carotenoids
5.2.5 Others
5.3 Application
5.3.1 Skin Care
5.3.2 Hair Care
5.3.3 Injectables
5.3.4 Others
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 BTSA Biotecnologias Aplicadas
6.4.3 Croda International Plc
6.4.4 Eastman Chemical Company
6.4.5 Evonik Industries AG
6.4.6 Kemin Industries
6.4.7 Koninklijke DSM
6.4.8 Lonza Group
6.4.9 Provital Group
6.4.10 Wacker Chemie AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Demand for Male Cosmetics Products
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