Active ingredients are used for anti-aging, anti-acne, skin brightening, sun protection, and conditioning purposes. Major factor driving growth of the global active ingredients for cosmetics market is increasing demand for advanced and effective personal care products among consumers. However, high cost of cosmetics with active ingredients may hamper growth of the global market.
The global active ingredients for cosmetics market has been segmented on the basis of function, application, and region. On the basis of function, the market is segmented into skin lightning, anti-aging, UV filters, and conditioning. Conditioning segment holds major share in terms of revenue and expected maintain its dominance in the near future, owing to rising awareness regarding health of hair and skin coupled with regular use of conditioning creams among consumers. Additionally, affordable cost of conditioning personal care products is another factor fueling growth of this segment in the global market.
On the basis of application, the market is segmented into hair care, skin care, sun care, and cosmetics. Skin care segment dominates the global market and expected to witness high growth in the near future, owing to availability of various types of skin care products coupled with growing preference for natural, herbal, and organic skin care.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, market in Europe dominates the global market in terms of revenue and expected to maintain its position over the forecast period, owing to increasing demand for personal care products among consumers. Asia Pacific market is expected to witness lucrative growth in terms of revenue in the near future, owing to growing regional cosmetics market especially in China and Korea. Revenue of North America market is expected witness high growth over the forecast period, followed by Middle East and Africa and Latin America.
Key players operating in the global active ingredients for cosmetics market include Akzonobel N.V., Ashland Global Holdings Inc., BASF SE, Clariant International AG, Evonik Industries AG, Gattefossé SAS, Lucas Meyer Cosmetics S.A.S., Sederma Inc., SEPPIC S.A., and Lonza Group Ltd.