Leading manufacturers of cosmeceutical ingredients must innovate their range through increased R&D activities. Growing preference for natural cosmeceutical ingredients signals a lucrative growth opportunity
DUBAI, UAE / ACCESSWIRE / February 19, 2020 / Primarily propelled by surging demand for hair and skincare products, global cosmeceutical ingredients market is pegged at a robust 9% CAGR over the projection period (2019 - 2027). The current market value of cosmeceutical ingredients will expand 1.8X through 2027, as indicated by a new study of Future Market Insights (FMI).
"Rising incidences of side effects and allergies caused by synthetic cosmeceutical ingredients have driven consumers towards natural cosmeceutical ingredients. Leading manufacturers are thus focusing on naturally sourced innovations that also cater to various skin types," states the FMI study.
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Key Takeaways of Cosmeceutical Ingredients Market Study
- Cosmeceutical ingredients are extensively used in manufacturing sunscreens, which remains the top-selling product.
- Naturally, sourced cosmeceutical ingredients will capture a leading market share by 2027.
- Powdered cosmeceutical ingredients remain sought-after among product manufacturers.
- Skincare continues to generate substantial demand for cosmeceutical ingredients.
- East Asia will account for approximately 30% market share by 2027, with North America closing in.
Cosmeceutical Ingredients Market - Top Growth Drivers
- Rising product awareness amongst consumers is burgeoning the growth of cosmeceutical ingredients market.
- Growing popularity of K-Beauty and J-Beauty continues to drive adoption in East Asia.
- Advancements in nanotechnology are working in favor of the cosmeceutical ingredients market.
Cosmeceutical Ingredients Market - Key Restraints
- High price point of cosmeceutical ingredients continues to limit wider adoption.
- Deceptive marketing practices by certain manufacturers, creating skepticism among consumers, continue to influence market performance.
Explore 138 tables and 108 figures in the study. Request ToC of the report at https://www.futuremarketinsights.com/askus/rep-gb-11059
Competitive Landscape
Global cosmeceutical ingredients market is a fairly consolidated landscape. Leading players profiled in this study include, but are not limited to, Allergan Incorporated, Lonza Group AG, Eastman Chemical Company, NEXIRA, Select Botanical, Ashland Incorporated, and The Lubrizol Corporation. Prominent leaders are escalating R&D activities to expedite product innovation. For instance, they are adopting new methods for extraction of ingredients. Moreover, other leading players are introducing new cosmeceutical products sourced from natural ingredients.
More About the Report
The 200-page study offers an in-depth market forecast and analysis on the cosmeceutical ingredients market. The major categories encompassed by the report include ingredient type (peptides and proteins, botanicals, skin lightening agents, retinoids, hydroxy acids, antioxidants, and sunscreens ingredients), source (synthetic and natural), form (liquid and powder), application (oral care, haircare and, skin care) across six regions (Middle East & Africa, South Asia & Pacific, East Asia, Europe, Latin America and North America).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights