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 substances used in skincare and cosmetic products to help protect the skin from damage caused by free radicals. Free radicals are unstable molecules that can be generated by various factors such as UV radiation, pollution, and stress. They can cause oxidative stress, leading to premature aging, wrinkles, and other skin concerns. Cosmetic antioxidants work by neutralizing free radicals, preventing them from causing damage to the skin cells. They help to maintain the skin's health and appearance by reducing the signs of aging and promoting a more youthful complexion.
The key players in this market are Evonik Industries AG (Germany), Croda International Plc (UK), BASF SE (Germany), Eastman Chemical Company (US), Wacker Chemie AG (Germany), and others. The cosmetic antioxidants market is witnessing growth in the past few years; new technologies drive the growth of this market. Market players are introducing new technologies and features to acquire larger market shares.
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Evonik Industries AG, also known as Evonik, manufactures specialty chemical products. It operates through five business segments: specialty additives, smart materials, , nutrition & care, performance materials, and technology & infrastructure. Evonik conducts its cosmetic antioxidants manufacturing and commercialization processes under the nutrition & care business segment. It is one of the major global suppliers of specialty chemicals. It has a strong presence in the European region and has integrated world-scale production facilities at nearly 104 locations in 27 countries. The company is focused on expansion and has been making a major investment in its production site, Marl, Germany.
Croda International Plc manufactures, markets, and distributes natural-based specialty chemicals. The company operates its business under three main segments: consumer care, life sciences, and industrial specialties. It offers cosmetic antioxidants through its consumer care business segment. The company’s well-established distribution network and brand value serve as an important factor for its growth. It has 18 manufacturing sites, and its offices are present in more than 30 countries worldwide. It operates in Europe, Asia, North America, and Latin America.
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
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