PRN: Cosmetic Ingredients Market to Touch USD 33.80 Billion by 2025: New Research Report by TMR
Cosmetic Ingredients Market to Touch USD 33.80 Billion by 2025: New Research Report by TMR
ALBANY, New York, March 16, 2017 /PRNewswire/ --
According to a new market report published by Transparency Market Research, "Global Cosmetic Ingredients Market (By Type - Surfactants, Polymers, Emollients, Antioxidants and Preservatives, Rheology Modifiers and Others, By Function- Cleansing Agent, Moisturizing Agent, Coloring Agent and Others, By End Use - Skin Care, Hair Care, Make Up, Oral Care, and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025" was valued in terms of revenue at USD 22.89 Bn in 2016 and is expected to reach USD 33.80 Bn by the end of the forecast period 2025, growing at a CAGR of 4.6% from 2017 to 2025 .
The rapid growth in demand for the cosmetic products across the globe due to the pursuit of beauty coupled with consciousness towards physical appearance has boosted the global cosmetic ingredients market. Women use cosmetic products to enhance or alter their beauty and thus manufacturers continuously engage upon research and development in order to satisfy the changing demands from the consumers. The market for cosmetic ingredients is growing at a stable pace across all the geographical regions. The market for global cosmetic ingredients is mainly driven by growing consciousness about skin care among consumers coupled with increasing trend of anti-aging formulations. However stringent government rules and regulations upon several ingredients are restraining the global cosmetic ingredients market. Additionally constant changes of consumer preferences are generating oppo! rtunities to the global cosmetic ingredients market. Â Asia Pacific is showing the fastest growth due to its growing demands of cosmetic products from the emerging economies like India, China and Japan.
Rising Disposable Income of Consumers to Ensure Continued Dominance of Asia PacificÂ
North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America have been considered as the key geographical segments of the worldwide market for cosmetic ingredients in this report. As per the study, Asia Pacific dominated the global cosmetic ingredients market in 2016 with a share of more than 32%. The improvement in the living standard of consumers in this region, thanks to the increase in their disposable income due to economic strengthening, has reflected greatly on their aesthetic consciousness and self-grooming. This, as a result, has increased the usage of cosmetics and, consequently, the demand for cosmetic ingredients, propelling the Asia Pacific cosmetic ingredients market.
China, Japan, India, and the Rest of Asia Pacific have emerged as the leading domestic markets for cosmetic ingredients in Asia Pacific. Consumers in these economies are spending high amounts on expensive cosmetics in a bid to enhance their beauty, which is likely to impel the market for cosmetic ingredients in this region, ensuring its dominance over the forecast period. In Asia Pacific, the China market for cosmetic ingredients is expected to witness strong growth in the near future, owing to the presence of cosmetic product manufacturers in a large number. The availability of low-cost raw materials and the rising investments by key participants are also projected to influence this domestic market over the years to come.
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Europe, which stood second in 2016, is likely to experience a steady rise in its market share over the next few years, thanks to the augmenting demand for cosmetics in France, Italy, Germany, the U.K., and the Rest of Europe. France, among these, is predicted to lead this regional market over the period of the forecast, states the research report.
Increasing Consumer Consciousness for Physical Apperceive to Influence Demand for Cosmetic IngredientsÂ
"With the rising disposable income of consumers, there has been an increase in their aesthetic consciousness and the interest towards their physical appearance. Their pursuit of beauty is fueling the demand for cosmetic products substantially across the world, which eventually, is reflecting positively on the sales of cosmetic ingredients," says an analyst at TMR. The growing awareness pertaining to skin care and the surging uptake of anti-aging products is also boosting the global cosmetic ingredients market considerably.
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Although the future of this market looks thriving, the increase in the enforcement of stringent rules and regulations, standardizing the usage of several cosmetic ingredients may hamper the growth of this market in the near future. However, the changing preferences of consumers, in regards to the fashion and their physical appearance, are likely to create lucrative growth opportunities cosmetic ingredient vendors in the years to come, normalizing the effect of the restraints, notes the study.
The study presented here is based on a report by Transparency Market Research (TMR), titled "Cosmetic Ingredients Market (Type - Surfactants, Polymers, Emollients, Antioxidants and Preservatives, and Rheology Modifiers; Function - Cleansing Agent, Moisturizing Agent, and Coloring Agent; End User - Skin Care, Hair Care, Make Up, and Oral Care) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."
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