The cosmetic antioxidants market size is projected to reach USD 158 million by 2025 from USD 119 million in 2020, at a CAGR of 5.9%. The growth of the cosmetic antioxidants market is primarily triggered by growing demand for anti-aging cosmetic products. Aging is a natural phenomenon; however, the consumption of antioxidants can slow down the aging process. The aging population is one of the largest consumers of cosmetic products. With the growing aging population around the world, anti-aging skincare products are in high demand.
The global male cosmetic market is booming, as a number of men are using cosmetic products. The growth in the sale of male cosmetics can be attributed to the change in lifestyle and rise in disposable income of consumers. Wrinkles, dark spots, and dull skin are common problems among men. Thus, skincare products such as anti-aging, moisturizing, and sun protection creams are used by men. Aesthetics has become popular among the male population. As of now, only a small number of men use makeup products, but this segment is expected to grow in the near future.
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Cosmetic ingredient companies work closely and in tandem with cosmetic companies to deliver the desired results. Major cosmetic companies have launched brands and sub-brands specifically targeting the male cosmetics segment to tap the unmet needs. Europe is expected to be the largest market for male cosmetics, whereas Asia Pacific is expected to be the fastest-growing male cosmetics market during the forecast period
Ashland Global Holdings (US), Lonza Group (Switzerland), BASF SE (Germany), Croda International Plc. (UK), and Eastman Chemical Company (US) are the major players in this market.
BASF SE is one of the the largest players in the cosmetic antioxidants market. It has a strong brand name in the industry. Kuraray Co. Ltd. is a Japan-based chemical fiber company founded for the purpose of commercializing synthetic rayon. It later expanded its business into high-performance fibers, resins, and chemicals. It offers different products & services through six reportable business segments.
In September 2019, BASF acquired Isobionics BV, an innovation leader in biotechnology. The company develops and produces a wide range of natural flavors and fragrances. The acquisition strengthens the nutrition & health division
Recently, in june 2019, BASF launched a new range of bioactive ingredients for the cosmetics market. They launched three new active ingredients, which were derived from its Rambutan Program. These are preservative-free, natural origin, and COSMOS-approved. New bioactive ingredients use the unique properties of Rambutan to hydrate and rejuvenate skin and revitalize hair
Croda International manufactures and supplies specialty chemicals. It operates through four segments, namely, personal care, performance technologies, life sciences, and industrial chemicals. The company offers cosmetic antioxidants under the brands Croda, Crodarom, and Sederma.
In November 2020, Croda International Plc announced a partnership with Anomera, Innovator in green chemistry, materials science, and sustainable manufacturing. Croda has become the exclusive distributor of Anomera’s materials in the personal care market. They will also collaborate to develop unique and innovative multifunctional ingredients and meet the needs of the cosmetics industry and its consumers
APAC is estimated to be the largest market for cosmetic antioxidants during the forecast period.
Among the various regions, APAC accounted for the largest share of the cosmetic antioxidants market in 2019. This region has a large base of young population who spend more on skincare and decorative cosmetic products. In addition, countries across the region are lenient toward the imposition of regulations with respect to cosmetic ingredients. Countries such as China and India are highly populated economies with rising preference for personal care and beauty enhancement products.
The key market players profiled in the report include as BASF SE (Germany), Koninklijke DSM N.V. (Netherlands), Wacker Chemie AG (Germany), Eastman Chemical Company (US), Lonza Group (Switzerland), Croda International Plc (UK), Ashland Global Holdings (US), Evonik Industries AG (Germany), SEPPIC (France), BTSA Biotecnologías Aplicadas, S.L. (Spain), Kemin Industries, Inc. (US), and Barentz International BV (Netherlands) among others.
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