Cosmetic Raw Materials Market Report 2024 (Global Edition)

Global Cosmetic Raw Materials Market Report 2024 Market Size Split by Type Outlook: (Active Ingredients, Aesthetic Materials, Surfactants and Solvents, Synthetic, and Natural), by Application Outlook:...

Cosmetic Raw Materials Market Report Description

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Cosmetic Raw Materials Market Insights Video

Competitive Landscape of the Cosmetic Raw Material Market

In the Cosmetic Raw Material market's competitive landscape, numerous key competitors drive innovation and growth. Competitive players are heavily investing in R&D to develop new formulations and improve the efficacy and safety of cosmetic raw materials. This includes exploring advanced technologies like biotechnology and nanotechnology to create high-performance ingredients. As the industry continues to evolve, companies must adapt to emerging trends and challenges while focusing on developing high-quality, eco-friendly, and effective raw materials.

In March 2022, BASF partnered with Henkel to transition the majority of Henkel's European Laundry, Home Care, and Beauty Care products from fossil carbon feedstocks to renewable feedstocks over the next four years. (Source: https://www.henkel.com/press-and-media/press-releases-and-kits/2022-03-31-basf-and-henkel-focus-on-renewable-raw-materials-in-henkel-s-consumer-goods-products-1646496 )

Top Companies Market Share in Cosmetic Raw Materials Industry: (In no particular order of Rank)

• BASF (Germany)
• Evonik (U.S.)
• Givaudan (U.S.)
• DuPont (U.S.)
• Firmenich (U.S.)
• International Flavors & Fragrances (U.S.)
• Nippon Seiki (Japan)
• AkzoNobel (U.S.)
• Solvay (Belgium)
• Lonza (Switzerland)
• Croda (U.K.)
• Lubrizol (U.S.)
• AAK Personal Care (Sweden)
• Eastman (Netherlands)
• Symrise (Germany)
• Kao (Japan)
• Ashland (U.S.)
• Innospecinc (U.S.)
• Stepan (U.S.)
• DSM (U.S.)
• Seppic (U.S.)
• Jarchem (U.S.)
• Clariant (India)
• Galaxy Surfactants (India)
• Followers Song (China)
• Tinci Materials (China)
• Zhejiang Zanyu (China)
• Guangzhou DX Chemical (China)
• Shanghai Delta Industry (China)
• Guangzhou Startec (China)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Cosmetic Raw Material Market

Which Region Dominates the Cosmetic Raw Material Market in 2024?

According to Cognitive Market Research, North America currently dominates the Cosmetic Raw Material market, and the region is expected to have significant growth during the projected period. The men's grooming market in North America is experiencing rapid growth, driven by a rising awareness of personal care among men. This trend has resulted in increased demand for cosmetic products specifically designed for men, including skincare, haircare, and grooming items. According to an Attest survey of 2,000 U.S. consumers, 35% of men aged 26-40 report that they purchase makeup at least once a month, with nearly half of Millennial men buying it occasionally. Similarly, Generation X men show comparable shopping habits to Gen Z, with 36% purchasing makeup and 21% doing so regularly. American consumers predominantly spend between $26-50 monthly on beauty and grooming products (27%), followed closely by 23.5% who spend $10-25. As brands create new formulations for men's grooming products, there is a growing need for distinctive raw materials, which further propels growth in the cosmetic raw material market.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The Asia-Pacific (APAC) region is experiencing rapid urbanization, which is contributing to rising disposable incomes among consumers. This economic development has led to a larger middle-class demographic that is more inclined to invest in cosmetic and personal care products. As urban populations expand, consumers gain greater access to a diverse array of beauty products, fueling demand for a wide range of high-quality cosmetic items. For instance, India's beauty, cosmetics, and grooming market is projected to reach USD 20 billion by 2025. The market share between organized and unorganized sectors is expected to shift to 44:55 by 2025, up from the current 25:75 ratio. By that time, India will account for 5% of the total cosmetics market, positioning itself among the top five global markets in terms of revenue. Additionally, there is a notable cultural shift towards beauty and personal care across various APAC countries, influenced by social media and evolving lifestyles. Consumers are becoming increasingly aware of the significance of personal grooming and the necessity of using high-quality cosmetic products.

The current report Scope analyzes Cosmetic Raw Materials Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Cosmetic Raw Materials

According to Cognitive Market Research, the global Cosmetic Raw Material market size was estimated at USD 29514.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 11805.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Cosmetic Raw Material market with a market size of USD 9314.6 million in 2024 and is projected to grow at a CAGR of 3.6% during the forecast period. In the U.S., the demand for the Cosmetic Raw Material market is driven by the growing emphasis on personal grooming and wellness, with consumers increasingly seeking high-quality ingredients for skincare and beauty products.
• The Canada Cosmetic Raw Material market had a market share of USD 1416.6 million in 2024 and is projected to grow at a CAGR of 4.6% during the forecast period. In Canada, the demand for the Cosmetic Raw Material market is driven by the growing trend towards clean and eco-friendly beauty products.
• The Mexico Cosmetic Raw Material market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 1074.3 million in 2024.

Europe Cosmetic Raw Materials

According to Cognitive Market Research, the global Cosmetic Raw Material market size was estimated at USD 29514.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 8854.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.

• The United Kingdom Cosmetic Raw Material market had a market share of USD 1487.5 million in 2024 and is projected to grow at a CAGR of 4.9% during the forecast period. In the UK, the demand for the Cosmetic Raw Material Market is driven by the country's strong consumer preference for natural and organic ingredients.
• The France Cosmetic Raw Material market is projected to witness growth at a CAGR of 3.3% during the forecast period, with a market size of USD 814.5 million in 2024.
• According to Cognitive Market Research, the German Cosmetic Raw Material market size was valued at USD 1753.1 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. In Germany, the demand for the Cosmetic Raw Material Market is driven by the influence of social media and beauty influencers.
• The Italy Cosmetic Raw Material market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 761.4 million in 2024.
• The Russia Cosmetic Raw Material market is projected to witness growth at a CAGR of 3.1% during the forecast period, with a market size of USD 1372.4 million in 2024.
• The Spain Cosmetic Raw Material market is projected to witness growth at a CAGR of 3.2% during the forecast period with a market size of USD 726.0 million in 2024
• The Luxembourg Cosmetic Raw Material market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 274.4 million in 2024.
• The Portugal Cosmetic Raw Material market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 185.9 million in 2024.
• The Greece Cosmetic Raw Material market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 106.2 million in 2024.
• The Rest of Europe's Cosmetic Raw Material market is projected to witness growth at a CAGR of 2.8% during the forecast period, with a market size of USD 1372.4 million in 2024.

Asia Pacific Cosmetic Raw Materials

According to Cognitive Market Research, the global Cosmetic Raw Material market size was estimated at USD 29514.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 6788.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.

• According to Cognitive Market Research, the China Cosmetic Raw Material market size was valued at USD 3054.7 million in 2024 and is projected to grow at a CAGR of 7.1% during the forecast period. In China, the demand for the Cosmetic Raw Material market is driven by the influence of social media and the rising awareness of personal grooming and beauty standards.
• The Japan Cosmetic Raw Material market is projected to witness growth at a CAGR of 6.1% during the forecast period, with a market size of USD 936.7 million in 2024.
• The India Cosmetic Raw Material market had a market share of USD 814.5 million in 2024 and is projected to grow at a CAGR of 9.4% during the forecast period. India's shift towards premium and luxury products, alongside increasing consumer awareness regarding product efficacy and safety, driving the market.
• The South Korean Cosmetic Raw Material market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 678.8 million in 2024.
• The Australian Cosmetic Raw Material market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 352.9 million in 2024.
• The South East Asia Cosmetic Raw Material market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 468.3 million in 2024.
• The Rest of Asia Pacific Cosmetic Raw Material market is projected to witness growth at a CAGR of 7.4% during the forecast period, with a market size of USD 481.9 million in 2024.

South America Cosmetic Raw Materials

According to Cognitive Market Research, the global Cosmetic Raw Material market size was estimated at USD 29514.2 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 1475.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Cosmetic Raw Material market size was valued at USD 631.6 million in 2024 and is projected to grow at a CAGR of 5.6% during the forecast period. In Brazil, the demand for the Cosmetic Raw Material market is driven by the booming personal care sector and a strong preference for high-quality, natural ingredients among consumers.
• Argentina's Cosmetic Raw Material market had a market share of USD 247.9 million in 2024 and is projected to grow at a CAGR of 5.9% during the forecast period. In Argentina, the demand for the Cosmetic Raw Material market is driven by the rising consumer interest in skincare and grooming.
• Colombia's Cosmetic Raw Material market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 131.34 million in 2024.
• Peru's Cosmetic Raw Material market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 121.01 million in 2024.
• Chile's Cosmetic Raw Material market is projected to witness growth at a CAGR of 5.3% during the forecast period, with a market size of USD 106.25 million in 2024.
• The Rest of Latin America's Cosmetic Raw Material market is projected to witness growth at a CAGR of 4.1% during the forecast period, with a market size of USD 237.5 million in 2024.

Middle East and Africa Cosmetic Raw Materials

According to Cognitive Market Research, the global Cosmetic Raw Material market size was estimated at USD 29514.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 590.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.

• The GCC Countries Cosmetic Raw Material market is projected to witness growth at a CAGR of 6.1% during the forecast period, with a market size of USD 252.6 million in 2024. Cosmetic Raw Material sales flourish due to increased consumer spending on luxury cosmetics, and rising eCommerce penetration, particularly for personal care and skincare products.
• The Egypt Cosmetic Raw Material market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 61.98 million in 2024.
• The South Africa Cosmetic Raw Material market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 93.26 million in 2024. In South Africa, the demand for the Cosmetic Raw Material Market is driven by the growing popularity of local and international cosmetic brands.
• The Turkey Cosmetic Raw Material market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 50.76 million in 2024.
• The Nigeria Cosmetic Raw Material market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 61.98 million in 2024.
• The Rest of the MEA Cosmetic Raw Material market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 69.65 million in 2024.

Cosmetic Raw Materials Market Analysis

How are Segments Performing in the Global Cosmetic Raw Material Market?

Cosmetic Raw Material Market Type Segment Analysis

According to Cognitive Market Research, Active Ingredients is likely to dominate the Cosmetic Raw Material Market over the forecast period. Consumers are becoming more educated about cosmetic products and are increasingly seeking products that offer specific benefits, such as anti-aging, skin hydration, and sun protection. This trend is leading to a greater demand for active ingredients that can deliver measurable results. There is a growing emphasis on product performance, with consumers wanting to understand the benefits of ingredients used in formulations. As a result, brands are focusing on incorporating scientifically validated active ingredients that enhance product effectiveness.

Synthetic, and Natural is the fastest-growing segment in the Cosmetic Raw Material Market. There is a rising trend toward clean beauty, with consumers increasingly seeking products free from harmful chemicals. Natural ingredients are perceived as safer and less likely to cause adverse reactions, driving their popularity. Environmental awareness is prompting consumers to prefer natural and organic products that are sustainably sourced and produced. Many consumers believe that natural ingredients are better for their health and the planet.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Cosmetic Raw Materials Industry. Request a Free Sample PDF!

Cosmetic Raw Material Market End-Use Segment Analysis

According to Cognitive Market Research, The Skin Care segment holds the largest market share. There is a growing awareness of various skin conditions (e.g., acne, aging, dryness) and the importance of specific treatments. This awareness drives demand for targeted products that address specific skin issues, necessitating a wide range of raw materials. Social media platforms have popularized skincare routines, with influencers sharing their personal experiences and product recommendations. This exposure encourages consumers to adopt multi-step skincare routines and experiment with different products, increasing demand for diverse raw materials.

In the Cosmetic Raw Material market, the rapidly growing sector is the Sunscreen category. Consumers are becoming increasingly aware of the harmful effects of ultraviolet (UV) radiation, including skin cancer and premature aging. This awareness has led to a surge in the demand for effective sunscreen products. As consumer preferences shift towards personalized skincare, brands are creating sunscreens that cater to specific skin types (e.g., oily, dry, sensitive) and concerns (e.g., acne-prone skin). This trend requires a diverse range of raw materials to meet unique formulation needs.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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