Cosmetic Antioxidants Market Size Revenue, Development, Future Analysis, Business Prospects and Globally Industry Growin

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According to MRFR analysis, the global Cosmetic Antioxidants Market Size is expected to reach around USD 212 million by the end of 2028 at a CAGR of 6%.

Market Synopsis

According to MRFR analysis, the global Cosmetic Antioxidants Market Size is expected to reach around USD 212 million by the end of 2028 at a CAGR of 6%.

Cosmetic antioxidants are natural and chemically derived antioxidants used in various cosmetic products such as skincare, haircare, and makeup. Antioxidants are naturally made from vitamins and minerals that include vitamin A, vitamin C, vitamin E, butylated hydroxyanisole (BHA), carotenoids, and butylated hydroxytoluene (BHT), amongst others. These antioxidants are widely used in various anti-aging, anti-inflammatory, UV protection, moisturizing, and hair conditioning products.

Growing personal care and cosmetics industry, aging population, increase in online purchase, and high demand from emerging economies are some of the factors expected to propel the growth of the global cosmetic antioxidants market. Furthermore, the advancements in technology, RD,and rising demand for natural antioxidants further fuel the development of the global market. However, the high cost of natural antioxidants and rising concerns over synthetic antioxidants hamper the growth of the market.Further, increasing use of natural and green ingredients, followed by the increasing trend of chemical-free food products driving the demand for organic cosmetic and personal care products.

Moreover, owing to such growing concerns, there are new certifications introduced in the market compiling the natural products requirement. For instance, Natural Products Association (NPA) designed a regulatory framework - Natural Standard Certification for Personal Care Products. Another prominent trend observed in the market is a continuous focus on multifunctionality as product development. Although multifunctionality is a relatively old trend in the market, it is being extended towards the newer products in the market. With changing lifestyles, consumer needs are evolving toward multifunctionality in various personal care product categories.

Competitive Landscape

The global Cosmetic Antioxidants Market Size is consolidated with the presence of numerous global, regional, and local players, with prominent players holding the majority share of the market. Some prominent players include BASF SE,       Koninklijke DSM N.V., Wacker Chemie AG, Eastman Chemical Company, Lonza Group, Croda International Plc, Ashland Global Holdings, Evonik Industries AG, Kemin Industries, Inc., and Barentz International BV, amongst others. Manufacturers focus mainly on acquisitions, jointventures, and partnerships with key stakeholders to gain a competitive advantage over other players.Furthermore, producers are increasingly focusing on a strategic alliance with stakeholders, new product development,and expansion of production capacities to gain a maximum share of the global market. Moreover, due to the coronavirus outbreak globally, theglobal market has witnessed a decline in demand.

 

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Segmentation

By Source

  • This segment has been further     segmented into natural and synthetic.
  • The synthetic segment accounts     for the largest market andis expected to witness healthygrowth during the     forecast period owing to its growing usage of synthetic antioxidants     globally, and low cost of raw material and production compared to natural     antioxidants.
  • The naturalsegment is expected to     witness the fastest growth during the forecast period in terms of value.     This growth is attributed to the increased demand for natural products in     the cosmetic and personal care industry and increasing consumer inclination     towards natural products.

 

By Type

  • This segment has been further     bifurcatedintovitamins, carotenoids, polyphenols, enzymes, and others.
  • The vitamin segment accounted for     the largest market and is expected to record the fastest growth during the     forecast period, which is mainly attributed to the health benefits offered     by vitamins to the skin and hair.
  • The carotenoid segmentis expected     to witness healthy growth during the forecast period due to its growing     usage in anti-aging products. It enhances the appearance of dry or damaged     skin by reducing flaking and restoring suppleness.
  • Polyphenols are highly preferred     due to their growing usage as anti-inflammatory, anti-aging,     antimicrobial, and supporting activity in solar photoprotection.
  • Enzymesare highly used in the     cosmetic and personal care industry for resurfacing and skin smoothing.
  • Other segment includesproducts     such as butylated hydroxyanisole (BHA), butylated hydroxytoluene (BHT),     retinol, tert-butylhydroquinone (TBHQ), and propyl gallate (PG), among     others.

 

By Application

  • This segment has been further     divided into skin care, hair care, and makeup.
  • The skin care segmentholds the     largest share of the global cosmetic antioxidants market owing to the     increased demand for cosmetic antioxidants in skin care products such as     moisturizers, sun-screen lotions, anti-aging products, etc.
  • The haircare segmentis expected     to witness significant growth in the global cosmetic antioxidants market     owing to its growingapplication in hair conditioners, shampoos, hair     cleansing products, etc.
  • The makeupsegment includes     applications such as foundation, lipsticks, fragrances, etc.

 

By Region

  • North     America:Market growthisdriven bythe presence of     a large-scale cosmetic and personal care industry, an aging population,     and increasing awareness among consumers about self-care.
  • Europe:     Established cosmetic industry and strong foothold of leading manufacturers     are driving the market in the region.
  • Asia-Pacific:     This is the largestandfastest-growingregionalmarket owing to the rising     cosmetic and personal care industry, increasing government investments,     and emerging economies such as India, China, and Thailand.
  • Latin     America:The growing demand is due to the growing     personal care and cosmetic industry in the region, especially in Mexico     and Argentina.
  • Middle     East Africa:High level of disposable     incomes, increase in affinity for cosmetics among the youth population,     and significant spending on mass and premium cosmeticsare fuelingthedemand     for Cosmetic Antioxidantsin the region. 

 

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