Cosmetic Bioactive Ingredients Market
Number of pages: 100 | Report Format: PDF | Published date: January 27, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market Size Value in 2021 |
US$ 1.52 billion |
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Revenue Forecast in 2030 |
US$ 2.44 billion |
|
CAGR |
5.35% |
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Base Year for Estimation |
2021 |
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Forecast Period |
2022-2030 |
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Historical Year |
2020 |
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Segments Covered |
Ingredients Type, Source, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global cosmetic bioactive ingredients market was valued at US$ 1.52 billion in 2021 and is expected to register a revenue CAGR of 5.35% to reach US$ 2.44 billion by 2030.
Cosmetic Bioactive Ingredients Market Fundamentals
Bioactive ingredients improve metabolic activities that benefit the health, skin, and hair of an individual. These compounds are frequently used in cosmetic and beauty products to give anti-aging, acne-fighting, skin tightening, anti-wrinkle, and other advantages. Some of the bioactive ingredients include proteins, minerals, vitamins, amino acids, omega-3 fatty acids, probiotics, prebiotics, and other bioactive chemicals. Antioxidants, fatty acids, and minerals are the most common bioactive components included in cosmetic products. Moreover, bioactive products such as retinol, niacinamide, and salicylic acid have completely revolutionized the skincare industry. These products can enhance the appearance of skin by changing how it works at a molecular level.
Bioactive ingredients are an essential part of cosmetics. They are natural elements that are found in plants and other sources that provide anti-inflammatory and antibacterial benefits. Additionally, bioactive ingredients also help to ensure that the product is safe and effective, as they are often tested for their functionality. Using bioactive ingredients in cosmetics can be formulated to be gentle and more natural, making them suitable for all skin types. Squalene is a popular bioactive ingredient used in moisturizers, sunscreen, and makeup products. It helps to soften skin and restore moisture. Hyaluronic acid is another type of bioactive ingredient used to nourish the skin and improve its elasticity.
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Cosmetic Bioactive Ingredients Market Dynamics
Increased awareness and inclination toward enhancing the aesthetic appearance among people from developed and developing countries is the key factor driving the global cosmetic bioactive ingredients market revenue growth. Additionally, top cosmetic and skincare industry players are increasingly focusing on product innovations and launching new products with distinctive ingredients to cater to changing consumer needs. Several customers are shifting toward natural or plant-based alternatives, which is expected to drive revenue growth in the cosmetic bioactive ingredients market. Furthermore, the market is being driven by the growing trend of using microbiome-friendly cosmetic products for hair and skin.
Increased R&D activities in the cosmetic ingredients and products industry are further influencing the market revenue growth. For instance, The Institute for Environmental Solutions (IES) initiated a project in July 2020 to discover bioactive cosmetic ingredients with high-added value from medicinal plant by-products from sources such as chamomile, dragonhead, European gooseberry, and juniper.
However, raw materials used in this product are expensive, which eventually increases the overall cost of the product. Hence low-income countries, such as Subsaharan Africa, cannot afford these products, which can be a restarting factor for overall market revenue growth. Also, the market can register limited revenue growth due to a lack of awareness about such products in these countries.
Cosmetic Bioactive Ingredients Market Ecosystem
The global cosmetic bioactive ingredients market is analyzed from three perspectives: ingredients type, source, and region.
Cosmetic Bioactive Ingredients Market by Ingredients Type
Based on the ingredients type, the global cosmetic bioactive ingredients market is segmented into probiotics and prebiotics, omega-3 fatty acids, carotenoids and antioxidants, vitamins, plant extracts, amino acids, proteins and peptides, minerals, and others.
The amino acids segment accounts for the majority of the revenue share of the global cosmetic bioactive ingredients market. Growing awareness about the advantages offered by amino acids in cosmetics has increased their demand. It is one of the significant components of skin's natural moisturizing properties, which play an important part in maintaining skin health by regulating hydration and the PH. Glycine is one of the common amino acids in cosmetic products. It aids in skin regeneration and increases collagen synthesis in the skin.
The plant extracts segment is expected to grow with a high revenue CAGR during the forecast period. Plant extracts are becoming more common in formulations due to increase in customer awareness regarding the side effects of synthetic ingredients/chemical compounds. Plant extracts used in skincare products offer antioxidant and antibacterial properties, as well as the ability to inhibit tyrosinase.
Cosmetic Bioactive Ingredients Market by Source
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Based on the source, the global cosmetic bioactive ingredients market is segmented into plant, animal, and microbial sources.
The plant source segment dominates the global market in terms of revenue share. Plant-based cosmetics are becoming more popular around the world as consumers become more aware about the importance of choosing cruelty-free products and the negative environmental impact of animal-based products. The antioxidant-rich property of plant-based skincare products helps to rejuvenate and rebuild cells. The vitamins found in plant-based skincare products are essential for preserving skin health. They also aid in cell repair and can help to reduce the signs of aging. These factors are contributing to revenue growth in this segment. This aside, the segment is expected to experience significant opportunities for revenue growth due to rise in the popularity of cruelty-free (no animal testing), vegetarian (no animal by-products), and vegan (no animal components) beauty products.
The microbial source segment is expected to register high revenue growth during the forecast period. This is attributed to many benefits, such as biocompatibility, streamlined manufacturing processes, enhanced and consistent product quality, and reduced environmental impact. For instance, surfactin-derived lipopeptides produced from Bacillus sps (B. subtilis, B. pumilus A, B. licheniformis, and B. amyloliquefaciens) have great application in anti-wrinkle cosmetics. Additionally, surfactin is widely employed in the production of cosmetic oil-and-water emulsions and topically applied dermatological products.
Cosmetic Bioactive Ingredients Market by Region
Based on the region, the global cosmetic bioactive ingredients market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America dominated the market in 2021 due to the region's significant concentration of top market competitors, growing trends that have made cosmetics a daily requirement, and rising cosmetics expenditure. Furthermore, increased investment in cosmetic start-ups with new natural ingredient-derived products are likely to fuel the cosmetic bioactive ingredients market revenue growth in the next few years.
The Europe market for cosmetic bioactive ingredients is growing at a significant revenue CAGR due to rising consumer awareness about and demand for cosmetic products with natural extracts. Increase in awareness about the adverse effects of sodium lauryl sulfate, phthalates, and parabens has resulted in a growing preference of consumers toward the usage of products with natural extracts, which are good for the environment and human health. As a result, more and more cosmetic businesses are switching to natural ingredients instead of synthetic ones.
The market in Asia Pacific is expected to register a high revenue CAGR in the coming years. This is attributed to rise in inclination of people in this region toward incorporating skincare routines into their daily lives, increasing the skin's overall well-being. Additionally, the Asian population prefers skin care products with unique content. For instance, in 2022, Verisol collagen peptides from Gelita AG received the Foods with Function Claim (FFC) in Japan for improving skin elasticity. Market players in regions such as South Korea are launching novel products containing many bioactive ingredients. For instance, Time Revolution Night Repair Ampoule, manufactured by Missha brand, is a serum made of 10 type probiotics.
Cosmetic Bioactive Ingredients Market Strategic Developments
Cosmetic Bioactive Ingredients Market Competitive Landscape
The prominent players operating in the global cosmetic bioactive ingredients market are:
Increasing R&D efforts, rising awareness about physical appearance, and growing integration of advanced skincare routines into daily life are the major factors governing the revenue growth of the global cosmetic bioactive ingredients market.
Solvay S.A, DOW Chemicals, Lonza Group, Evonik Industries AG, and Givaudan SA are among the key companies operating in the global cosmetic bioactive ingredients market.
Issues with affordability, accessibility, and awareness of bioactive cosmetic components in the Middle East and Africa are restricting the revenue of the global cosmetic bioactive ingredients market.
The global cosmetic bioactive ingredients market is expected to register a revenue CAGR of 5.35% during the forecast period.
The amino acids segment dominates the global cosmetic bioactive ingredients market with the majority of the revenue share.
*Insights on financial performance are subject to the availability of information in the public domain