The global active ingredients market for cosmetics was valued at USD 2.63 billion in 2015 and is projected to reach USD 4.45 billion by 2026, at a CAGR of 5.2% from 2016 to 2026. The cosmetic active ingredients market is directly dependent on the population, high spending power on cosmetic products, and the desire among consumers to look beautiful. The global cosmetic active ingredients market is segmented based on functionality, application, and region.
The market for anti-aging agents is expected to register the highest CAGR between 2016 and 2021. Aging population and the concern to look younger is increasing the demand worldwide for anti-aging products which help in improving the skin from wrinkles, blemishes, frown lines, and the aging process, thus, boosting the demand for anti-aging agents. However, the conditioning agents segment accounted for the largest share of the overall cosmetic active ingredients market in 2015. This is because conditioning agents are widely used in almost every end-use application in skin and hair care ranging from shampoos to scrubs.
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The skin care application held the largest share of the global cosmetic active ingredients market in 2015 and is also projected to witness the highest CAGR between 2016 and 2021. The skin care application accounts for huge demand due to the growing concern of the aging population to have a young skin and also an even skin tone. The increasing impact of global warming, with a rise in excess heat levels, is surging the demand for sun protection and moisturizing agents. The global hair care market is also expected to witness a steady growth rate during 2016 and 2021. The rising demand for anti-hair fall and scalp protection products is expected to show positive signs of growth for the hair care products market.
The Asia-Pacific region is expected to be the fastest-growing cosmetic active ingredients market during the forecast period. Rising population and growing end-use industries in the region, accompanied by the development of new technologies and products, are projected to make it a major cosmetic active ingredients market. Europe is the largest market for cosmetic active ingredients due to high income, high standard of living, and high per capita spending on cosmetics products. Increasing strategic expansions activities by manufacturing companies in the region are also driving the market for active ingredients for cosmetics.
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