“Global Cosmetic Raw Materials Market, by Type (Active Ingredient, Carrier, Aesthetic Material, Other Types), By Application (Skin & Body Care, Hair Care, Bath & Shower Products, Color Cosmetics, Other Applications), as well as by Region – Global Forecast 2020 to 2029.”, which offers a comprehensive view of the global cosmetic raw materials market through systematic segmentation, covering every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this market is projected to be over USD $31,040.0 Mn, and is estimated to increase moderately over the latter part of the forecast period.
Raw materials that comprise most cosmetics include water, emulsifiers, preservatives, thickeners, moisturizers, colors, and fragrances. These ingredients can be naturally occurring or artificial, but any potential impact on the health of individuals depends mainly on the chemical compounds they are made of.
The drastic change in the lifestyles, as well as the steady increase in the disposable incomes of numerous individuals across the world is leading to the increase in the demand for lifestyle-oriented products such as cosmetics, are some of the most crucial factors that are anticipated to continue to fuel opportunities for revenue growth of the global cosmetic raw materials market over the next decade. Moreover, the increasing awareness concerning good health and the use of environmentally-friendly products is leading to a significant boost in the demand for organic products. This factor is leading numerous key market players to focus more on and to invest higher revenues towards the development of eco-friendly products that meet the expectations of their respective clientele. Furthermore, the increase in the demand for multipurpose products such as anti-aging, antioxidant creams and lotions, UV protection moisturizers, etc., is also slated to contribute to the overall revenue growth of this industry. In addition to this, the increasing value for skincare products among both men and women, especially in recent years among those individuals belonging to various emerging economies, is another important element slated to increase future generated revenues. These aforementioned factors are some of the most crucial factors that are anticipated to play a critical role in edging the projected revenue of the global cosmetic raw materials market to USD $38,186.1 Mn by 2030, at a CAGR of 5.4%.
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