TAGS: Sustainability / Natural Cosmetics Skin Care
Markets and Markets (M&M) anticipates that the global natural cosmetics ingredients market is projected to reach USD 1095 million by 2030, at a CAGR of 6.9 % from USD 642 million in 2022. The demand for natural cosmetics ingredients is rising sharply.
The preference of consumers for natural and organic components is a significant factor in the growing popularity of such goods. Without the use of synthetic chemicals, organic items are collected. The products are often made from plants, including henna, dried fruits, vegetables, floral extracts, etc. Numerous of these items are entirely natural and free of any hazardous chemicals.
Skin Care is Projected to Grow at Highest CAGR
Skin care application is estimated to be the fastest growing segment, in terms of value, during the forecast period. The demand for natural alternatives is predicted to be driven by consumers growing knowledge of the consequences of ageing on their skin, which in turn is likely to contribute to the market growth.
Rheology modifiers are substances used to increase the viscosity of the formulation without significantly changing its performance. The major applications of rheology modifiers are paints & coatings and cosmetics & personal care. Apart from this, it is used in a number of other applications such as adhesives & sealants; inks; pharmaceuticals; Home care, Institutional & Industrial (HI&I) products; oil & gas; and construction.
Highest Growth in Asia Region
Asia Pacific has emerged as a rising market for natural beauty products due to a rise in awareness and the number of working millennials and is anticipated to grow at highest CAGR during the forecast year. Because of their growing discretionary income and increased awareness of their looks, consumers are prepared to spend more money on natural items.
New product launches and expansions are the major growth strategies adopted by the key players in the market. BASF SE (Germany), Dow Inc (US), Solvay (Belgium), Evonik Industries AG (Germany), Clariant AG (Switzerland), Ashland Global Holdings Inc. (US) and Croda International PLC.(UK) have undertaken various strategies in the natural cosmetics ingredients market.
Source: Markets and Markets (M&M)
