Los Angeles, November 27, 2019 – With an in-depth analysis of the market QY Research has lately come up with a new publication titled, “Global Cosmetic Active Ingredient Market Insights, Forecast to 2026” for the forecasted period of 6-years (2019-2026). The authors of the report have studied the market thoroughly and have come to a conclusion that the global cosmetic Active Ingredient market is expected to attain the value of more than US$ 5.40 Bn by the end of 2026 which was more than US$ 3.50 Bn, in 2018.
According to the report, the market is anticipated to register a moderate growth rate of US$ 4.5% during the anticipated period.
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Increasing Usage of Skin Care Products Is Driving the Growth of the Market
Increasing demand for skincare and haircare products along with an unhealthy lifestyle and rising pollution is driving the growth of the cosmetic active ingredient market. Other major factors contributing to the growth of the market are skin issues such as acne, pigmentation, and anti-aging. High awareness regarding skincare among youth is contributing to the growth of the market. The availability of over the counter drugs and increasing demand for skin and hair care products on e-commerce portals are further stimulating the Cosmetic Active Ingredient market. However, instances of side effects resulting in harmful conditions such as rashes, allergic reactions, redness, burning, and skin irritation are expected to hinder the growth of the market.
Major Concern of Skin Issues to Fuel the Growth of Skincare Products Segment
Based on product type, the global cosmetic active ingredient market is segmented into moisturizer, exfoliators, skin lightning agents, anti-aging, UV filter, anti-microbial, and Others. High demand for creams containing vitamin c, which is an active ingredient beneficial for anti-aging is contributing to the growth of the segment. Based on applications, the market is bifurcated into hair care products, skin care products, and Others. Issues regarding fine line, wrinkles, texture, and tone are expected to fuel the growth of the skincare products segment.
Product Quality and Pricing is Expected to Propel the Market of Cosmetic Active Ingredient in Asia Pacific Region
The presence of leading companies in North America and Europe is expected to boost the market. Developing countries such as India and China in the Asia Pacific region have a large population along with increasing disposable income, which is expected to propel the market over the next few years. Reasonable pricing of the product and product quality are two of the most important factors influencing customer preferences. These factors play an important role in boosting the Cosmetic Active Ingredient market in Asia Pacific region.
Market Players are Keen on the Development of New Products to Expand Customer Base
Some of the leading players functioning in the global Cosmetic Active Ingredient market are Clariant, BASF, DSM, Evonik, Symrise, Dow, Seppic, Croda, Solvay, Ashland, Eastman, Gattefosse, Elementis, Nouryon, Lonza, and Lubrizol. Leading players are focusing on development of new products and are keen to offer innovative products for catering to the requirements of the customers.
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