Cosmetic Antioxidants Market by Source (Natural, Synthetic), Type (Vitamins, Enzymes, Polyphenols), Function (Anti-aging, Hair Conditioning, UV Protection), and Application (Skin Care, Hair Care, Make-up)- Global Forecast to 2028
In terms of value, the cosmetic antioxidants market is estimated to grow from USD 132 million in 2023 to USD 178 million by 2028, at a CAGR of 6.2%. Cosmetic antioxidants are active ingredients used in various formulations to manufacture cosmetics products. These antioxidants are widely used in cosmetic products owing to their anti-aging, anti-wrinkle, anti-inflammatory, UV protection, and moisturizing functions. The main purpose of these antioxidants is to inhibit oxidation reactions to prevent the production of free oxygen radicals, which prevent the degradation of proteins and lipids in cosmetic products. Cosmetic antioxidants also help in protecting skin cells from damage caused due to pollution. They are used to decelerate the aging process and minimize sunspots and fine lines.
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Market Dynamics
Driver: Changing lifestyle across the globe
The rising disposable income and improving consumers' living standards have resulted in the emergence of the lifestyle segment of cosmetics. Improvement in the current lifestyles of individuals is favoring the cosmetics market. The young generation has a significant budget to spend on beauty products. This generation prefers premium skincare and hair care products that make them more appealing aesthetically. Furthermore, the growing trend of selfies and social media drives the make-up market.
Urbanization and lifestyle changes are leading to changes in consumer preference for cosmetic products. Consumers stay updated about the ingredients used in cosmetic products. This trend is evident in developed countries. Consumers from the US, Germany, the UK, and other developed nations prefer premium cosmetic products with natural ingredients that are effective and deliver immediate results. All these factors contribute to the growth of the cosmetic antioxidants market.
Restraints: Concerns about the safety of chemically derived antioxidants
Chemically derived antioxidants such as Butylated hydroxyanisole (BHA), butylated hydroxytoluene (BHT), and propyl gallate are commonly used in cosmetics to prevent rancidity. However, there are concerns about their safety. Studies have suggested that BHA and BHT may be carcinogenic and can cause allergic reactions. Similarly, propyl gallate has also been linked to allergic reactions. On the other hand, natural antioxidants derived from plants and food sources are considered safer alternatives, although their efficacy in preventing rancidity may be lower. Evaluating the safety of synthetic antioxidants requires considering factors such as concentration, the type of product, and individual sensitivity. When assessing the safety of chemically derived antioxidants in cosmetics, consider the concentration in the product, the type of application, and individual sensitivity. Products with higher concentrations pose a greater potential risk, particularly when applied to the skin or lips. Consulting with a doctor or dermatologist can provide personalized guidance if you have concerns about the safety of chemically derived antioxidants.
Opportunities: Potential use of microbiome in cosmetics
There are few companies designing health-enhancing skincare products that contain live bacteria, bacteria extracts, or ingredients meant to enhance skin microbe activity. They are trying to nurture beneficial microbes to treat skin conditions such as acne and eczema as well as minor skin issues such as dryness and wrinkles. The topic remains debatable amongst cosmetic manufacturers about its potency. Still, a number of start-up companies are already incorporating bacteria into skin creams which will help to rebalance the bacteria that live on the human body and deliver healthier and radiant skin. Personal care manufacturers suggest a strong connection between a balanced microbiome and healthy skin. They also find it a good opportunity to invest in this new field.
Challenges : Increase in counterfeit cosmetic products
Accompanying the ease of online shopping is the surge of counterfeit cosmetic products sold across the world. The rapid expansion of counterfeit cosmetics poses a public health risk for consumers all over the world. Counterfeit cosmetic products contain paint thinner and poisonous metals, such as lead and mercury, which can cause irritation, chemical burns, and swelling. Fraudulent cosmetics are becoming a serious global issue. According to the CFSAN Adverse Event Reporting System (CAERS) of the U.S. Food and Drug Administration (FDA), from 2019 to 2022, the FDA received 13,402 instances of consumers reporting adverse effects related to cosmetics.
Cosmetic Antioxidants Market Ecosystem
The cosmetic antioxidants ecosystem includes companies manufacturing antioxidants based on vitamins, polyphenols, carotenoids, enzymes, and synthetics. The sources of these cosmetic antioxidants can be both natural and synthetic. These cosmetic antioxidants are manufactured by companies such as BASF SE (Germany), Koninklijke DSM N.V. (Royal DSM) (Netherlands), Wacker Chemie AG (Germany), Eastman Chemical Company (US), Clariant AG (Switzerland), Croda International Plc (UK), Ashland Inc. (US), Seppic (France), BTSA Biotecnologías Aplicadas, S.L. (Spain), and Evonik Industries AG (Germany). The cosmetic antioxidants are then added to cosmetic products like skin creams, lotions, hair shampoos, conditions, lip balms, and others. Cosmetic antioxidants help in the protection of both the cosmetic ingredients as well as the skin. The major end users are cosmetic manufacturing companies such as Unilever (UK), Procter & Gamble (US), Johnson & Johnson Services, Inc. (US), L'Oréal Group (France), and Estee Lauder, Inc. (US). The use of cosmetic antioxidants in this ecosystem is mainly driven by the increasing aging population, growth in the lifestyle segment, and male personal products.
Based on the source, the natural source was the largest segment of the cosmetic antioxidants market, in terms of value, in 2022.
Natural antioxidants are obtained entirely from natural sources such as plants or animals. These antioxidants include tocopherols, ascorbic acid, and rosemary extract, among others. Tocopherols are the most common natural antioxidants and are widely used in various cosmetic products. The increasing preference of the masses toward natural and herbal cosmetic products has increased the adoption of natural antioxidants in cosmetics.
Based on type, vitamins were the largest segment of the cosmetic antioxidants market, in terms of value, in 2022.
Vitamin E is a well-known lipid-soluble antioxidant that is useful for the human body and skin. Vitamin E is the generic name for tocopherols. Vitamin E and its compounds, such as tocopheryl acetate and tocopheryl linoleate, are used in various cosmetic formulations. Vitamin E occurs naturally in human skin. However, it gets depleted due to aging or constant exposure to the sun. Vitamin C is a water-soluble vitamin. It is also known as ascorbic acid. Vitamin C and its salts are easily found in plant tissues. Vitamin A, also known as retinol, is a skin-restoring and wrinkle-smoothing antioxidant. It is used in sunscreens, anti-aging creams, and hair conditioners. The addition of vitamin A in cosmetic products results in healthy skin cells and protects the skin against damage caused by ultraviolet radiation.
Based on function, anti-aging was the largest segment of the cosmetic antioxidants market, in terms of value, in 2022.
Anti-aging cosmetic products help reduce the appearance of fine lines and pigment evenings and provide a smooth skin texture. These products require cosmetic ingredients, such as vitamin A, biotin, coenzyme Q10, glycolic acid, green tea, and other vitamins, that help reduce signs of aging. Cosmetic antioxidants are widely used in cosmetic products such as serums, face creams, and lotions, among others, as anti-aging ingredients. These antioxidants help increase collagen and hydrate the skin.
Based on application, skin care was the largest segment of the cosmetic antioxidants market, in terms of value, in 2022.
Cosmetic antioxidants are used in skincare and hair care products to deliver the proposed benefits. The skin care application accounted for the larger market share, in terms of value, of the global cosmetic antioxidants market in 2022. It is estimated to have high demand due to growing aspirations to have younger skin and even skin tone and aging population growth. The increasing impact of global warming, with a rise in excess heat levels, is surging the demand for sun protection and moisturizing agents.
Asia Pacific accounted for the largest market share of the cosmetic antioxidants market, in terms of value, in 2022.
The cosmetics industry in the Asia Pacific is flourishing due to a rise in the number of working women, increased spending of the masses on cosmetic products, and the growth of the young population in the region. Increasing population, improving standard of living, and rising e-commerce activities have increased the demand for cosmetic products in the region. Emerging economies such as China and India are high-growth markets for skin care, hair care, and make-up products in the region, owing to the economic growth of these countries and increased consumer spending on cosmetic products.
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Key Market Players
The key players in this market are Evonik Industries AG (Germany), Croda International Plc (UK), BASF SE (Germany), Eastman Chemical Company (US), and Wacker Chemie AG (Germany), among others. These are the key manufacturers that secured a major market share in the last few years.
Please visit 360Quadrants to see the vendor listing of Top 20 Personal Care Ingredients Companies, Worldwide 2023
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Report Metric |
Details |
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Years considered for the study |
2017–2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Units considered |
Value (USD Million) |
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Segments Covered |
Source, Type, Function, Application, and Region |
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Regions covered |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
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Companies profiled |
The key players profiled in the report are Evonik Industries AG (Germany), Croda International Plc (UK), BASF SE (Germany), Eastman Chemical Company (US), Wacker Chemie AG (Germany), and others. |
This report categorizes the global cosmetic antioxidants market based on source, type, function, application, and region.
On the basis of Source , the Cosmetic antioxidants market has been segmented as follows:
- Natural
- Synthetic
On the basis of Application , the Cosmetic antioxidants market has been segmented as follows:
- Skin Care
- Hair care
- Make-up
On the basis of Type, the Cosmetic antioxidants market has been segmented as follows:
- Vitamins
- Carotenoids
- Polyphenols
- Enzymes
- Synthetic
On the basis of Function , the Cosmetic antioxidants market has been segmented as follows:
- Anti-aging
- Anti-inflammatory
- UV Protection
- Moisturizing
- Hair Cleansing
- Hair Conditioning
- Others
On the basis of region, the Cosmetic antioxidants market has been segmented as follows:
- Asia Pacific
- North America
- Europe
- Middle East & Arica
- South America
Recent Developments
- In May 2023, BASF partnered with BEAUTYSTREAMS to further expand its D’lite digital service for the personal care industry. The collaboration involved monthly trend reports from BEAUTYSTREAMS, providing valuable insights into current developments across the personal care market. These reports complemented the quantitative analyses provided by D’lite, offering a comprehensive view of the industry.
- In August 2022, BASF announced the innovation partnership with a China-based start-up, “Ingredi.” Through this partnership, BASF contributes its expertise in demonstrating how to add natural ingredients into personal care formulations and will market these products globally to its customers.
- In July 2023, The company acquired Novachem, an Argentinian sustainable cosmetic actives innovator, to strengthen its portfolio of sustainable cosmetic active ingredients. Novachem's innovative and scientifically proven portfolio of biotechnological, natural, and sustainable cosmetic actives will enhance Evonik's System Solutions offerings.
- In November 2022, Evonik and Intercos Group signed a direct supply agreement. Through this agreement, Evonik will provide Intercos with raw materials, including active ingredients, emulsifiers, and cosmetic oils, through a direct sales channel. The partnership aimed to strengthen cooperation and exchange in the cosmetics industry while committing to the development of more efficacious, safer, and sustainable products.
- In September 2022Eastman Chemical Ltd entered into a distribution agreement with DKSH, a Swiss company. DKSH will be growing Eastman's personal care business in the existing markets and expanding into new markets as a distributor of Eastman across the entire Asia Pacific region.
Frequently Asked Questions (FAQ):
Which are the major players in the Cosmetic antioxidants market?
The key players profiled in the report include The key players in this market are Evonik Industries AG (Germany), Croda International Plc (UK), BASF SE (Germany), Eastman Chemical Company (US), and Wacker Chemie AG (Germany).
Who are the top 5 players in the market?
Evonik Industries AG (Germany), Croda International Plc (UK), BASF SE (Germany), Eastman Chemical Company (US), and Wacker Chemie AG (Germany)are the major service providers of the cosmetic antioxidants market.
What are the drivers and opportunities for the cosmetic antioxidants market?
The cosmetic antioxidants market is driven by the rise in the aging population, increasing disposable income, and changing lifestyles of consumers. Self-expression and appearance are of utmost importance in today’s fast-paced social media-driven world, thereby driving the demand for cosmetic products, which in turn, is fueling the demand for antioxidants.
What are the various strategies key players are focusing on within The cosmetic antioxidants market?
New acquisitions, expansion, and partnerships are some of the strategies adopted by key players to expand their global presence.
What are the major factors restraining the cosmetic antioxidants market growth during the forecast period?
The pandemic has changed consumer behavior to focus more on self-care, DIYs, and deep nourishing products. As most of the time, people are inside their houses behind their masks, the use of make-up like lipstick or lip color has decreased. .
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The study involved four major activities in estimating the market size for cosmetic antioxidants. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Post that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Primary Research
The Cosmetic antioxidants market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the automotive, medical, electronics, and others. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Breakdown of Primary Participants
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022, available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
To know about the assumptions considered for the study, download the pdf brochure
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COMPANY NAME |
DESIGNATION |
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Evonik Industries AG |
Director of Marketing |
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Croda International Plc |
Manager- Sales & Marketing |
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BASF SE |
Sales Manager |
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Eastman Chemical Company |
Production Manager |
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Wacker Chemie AG |
Sales Manager |
MARKET SIZE ESTIMATION
Both top-down and bottom-up approaches were used to estimate and validate the total size of the Cosmetic antioxidants market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry have been identified through extensive secondary research.
- The supply chain of the industry has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Cosmetic Antioxidants Market: Bottom-Up Approach
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Cosmetic Antioxidants Market: Top-Down Approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the cosmetic antioxidants industry.
Market Definition
According to Cosmetic Association Europe, “Cosmetic antioxidants are ingredients used in cosmetic formulations to increase the shelf life of cosmetic products and protect human cells against damage. These antioxidants can be found in a wide range of skincare products, including moisturizers, serums, and creams, and are often combined with other beneficial ingredients to provide comprehensive skincare benefits. Cosmetic antioxidants work by neutralizing free radicals, preventing them from causing damage to the skin cells.
Key Stakeholders
- Cosmetic antioxidants manufacturers
- Cosmetic antioxidants distributors
- Cosmetic antioxidants suppliers
- Government and research organizations
- Investment banks and private equity firms Venture capital firms
- Wastewater treatment equipment manufacturers, dealers, and suppliers
- Water testing and packaging vendors
Report Objectives
- To define, describe, and forecast the global cosmetic antioxidants market size in terms of volume and value
- To provide detailed information regarding the major factors (drivers, restraints, challenges, and opportunities) influencing the growth of this market
- To estimate and forecast the market size based on source, type, function, and application
- To forecast the size of the market based on five major regions–Asia Pacific, North America, Europe, the Middle East & Africa, and South America
- To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
- To analyze opportunities in the market for stakeholders and to provide a competitive landscape for market leaders.
- To analyze recent developments such as agreements, mergers & acquisitions, expansions, and new product launches in the market
- To strategically profile the key market players and comprehensively analyze their core competencies2 and market share
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application type
Company Information
- Detailed analysis and profiles of additional market players (up to five)
Generating Response ...
Growth opportunities and latent adjacency in Cosmetic Antioxidants Market