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Strategic Alliances Pave the Way for Innovation

Major companies operating in the cosmetic ingredients market are adopting a strategic partnership approach to combine innovative and sustainable, cutting-edge biotechnological-based cosmetic ingredients.

• Cosmecca Korea Co. and Vytrus Partnership
  • In August 2023, Cosmecca Korea Co. partnered with Vytrus to develop new cosmetic ingredients leveraging plant stem cell technology.
  • This partnership aims to fuse South Korean K beauty manufacturing expertise with Spain-based biotechnological innovation.

Evonik Industries AG Enhances Personal Care Portfolio

In October 2021, Evonik Industries AG acquired Botanica GmbH, a Switzerland-based producer of plant extracts for the personal care industry.

• Strategic Acquisition
  • Strengthening Evonik’s position in the personal care industry.
  • Expanding the portfolio of sustainable and natural ingredients.

Rising Demand For Personal Care Products Fuels Growth In The Cosmetics Ingredients Market

Understanding the Driving Force

The increase in demand for personal care products is expected to propel the growth of the cosmetic ingredients market going forward.

• Expanding Personal Care Market
  • Skincare demand increased significantly, as reported by Loreal Cosmetic World.
  • E-commerce continues to rise in the beauty sector.

Read More On The Cosmetic Ingredients Market Report 2024 – https://www.thebusinessresearchcompany.com/report/cosmetic-ingredients-global-market-report

Segmentation of the Cosmetic Ingredients Market

Understanding the Diversity

The cosmetic ingredients market is segmented by ingredient type, functionality, and application.

• Ingredient Types
  • Synthetic Chemical Ingredients
  • Natural/Herbal Ingredients
  • Specialty Ingredients
  • Oleochemical
  • Botanical Extract
  • Rheology Modifier
  • Preservatives
  • Emulsifier And Stabilizer
  • Other Ingredient Types
• Functionalities
  • Cleansing Agents And Foamers
  • Aroma
  • Moisturizing
  • Specialty
  • Other Functionalities
• Applications
  • Skin Care
  • Oral Care
  • Hair Care
  • Make-Up
  • Fragrance
  • Other Applications

Regional Dynamics in the Cosmetic Ingredients Market

Global Reach, Regional Trends

Asia-Pacific dominated the cosmetic ingredients market in 2023, with North America expected to witness the fastest growth in the forecast period.

• Asia-Pacific
  • Leading region in the cosmetic ingredients market.
  • Reflects the growing demand for skincare and beauty products.
• North America
  • Anticipated to be the fastest-growing region.
  • Driven by evolving consumer preferences and technological advancements.

Future Prospects and Trends

Innovations Shaping the Landscape

The cosmetic ingredients market is poised for significant growth, driven by emerging trends and consumer preferences.

• Forecasted Growth
  • Expected growth to $40.81 billion in 2028, with a CAGR of 6.0%.
  • Fueled by the clean beauty movement and demand for regenerative and healing ingredients.
• Major Trends
  • Upcycled ingredients
  • Customized skincare kits
  • Bioactive peptides
  • Barrier repair ingredients
  • CBD and hemp-derived ingredients

In conclusion, the cosmetic ingredients market is witnessing robust growth, propelled by increasing demand for personal care products, strategic partnerships driving innovation, and emerging trends shaping the industry’s future. As companies navigate these dynamics, strategic collaborations and a focus on sustainable and innovative ingredients will be pivotal in maintaining a competitive edge in this evolving landscape.

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