United States Cosmetic Chemicals Market, By Type (Emollients & Moisturizers, Surfactants, Specialty Additives, Thickening Agents, and Others), By Application (Skin Care, Hair Care, Color Cosmetics, Toiletries, Oral Care, Nail Care and Others), By Region, and Competition, Forecast and Opportunities, 2018-2028
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationUnited States Cosmetic Chemicals Market, By Type (Emollients & Moisturizers, Surfactants, Specialty Additives, Thickening Agents, and Others), By Application (Skin Care, Hair Care, Color Cosmetics, Toiletries, Oral Care, Nail Care and Others), By Region, and Competition, Forecast and Opportunities, 2018-2028
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 5.63 billion |
| CAGR (2023-2028) | 5.70% |
| Fastest Growing Segment | Emollients & Moisturizers |
| Largest Market | Midwest |
Market Overview
United States Cosmetic Chemicals Market has valued at USD 5.63 billion in 2022 and is anticipated to grow with a CAGR of 5.70% through 2028. United States Cosmetic Chemicals market growth is driven by increasing demand for personal care products, Product innovation and technological advancements, growing awareness of health and wellness, rising disposable income and urbanization, and growing domestic demand for functionality products like anti-aging and UV absorbing cosmetic. As per Zippia statistics, annually peoples of the United States spend approximately USD89.7 billion on beauty products. The United States cosmetic chemicals market plays a vital role in the formulation of cosmetic and personal care products. Cosmetic chemicals are essential ingredients used to create various products, including skincare items, haircare products, fragrances, and makeup. They serve multiple purposes, such as providing texture, enhancing performance, preserving shelf life, and delivering specific benefits like moisturization, UV protection, or anti-aging properties. Cosmetic chemicals are necessary for formulating diverse cosmetic products. They are used in specific proportions and combinations to create desired textures, consistencies, and functionalities. For example, emulsifiers are used to stabilize oil and water mixtures in creams and lotions, while surfactants provide foaming and cleansing properties in shampoos and body washes.
Key Market Drivers
Increasing Demand for Personal Care Products is Key Factor Driving the United States Cosmetic Chemicals Market Growth
The increasing demand for personal care products is a significant driver behind the growth of the United States cosmetic chemicals market. This demand stems from various factors, including evolving beauty trends, changing consumer preferences, and an emphasis on personal grooming and appearance. Personal care products are the largest segment of the cosmetics industry, with a market volume of USD 253.3 billion. They make up 44.4% of the total market. The demand for personal care products encompasses a wide range of categories, including skincare, haircare, fragrances, and makeup. Each category requires specific cosmetic chemicals for formulation. For example, skincare products may require moisturizing agents, antioxidants, or active ingredients for targeted benefits, while haircare products may require surfactants, conditioning agents, or styling polymers. The diverse product range fuels the demand for a wide variety of cosmetic chemicals. Consumers are increasingly conscious of their appearance, well-being, and self-care routines.
They seek products that address their specific needs and preferences. This awareness has led to a surge in demand for cosmetic products that offer targeted solutions, such as anti-aging, sun protection, natural or organic formulations, and cruelty-free options. The formulation of such products requires specialized cosmetic chemicals to deliver the desired benefits, leading to increased demand in the market. Beauty and wellness trends play a significant role in driving the demand for personal care products. Social media platforms, beauty influencers, and celebrities have a considerable influence on consumer preferences and purchasing decisions. Trends like clean beauty, K-beauty, natural ingredients, and sustainable packaging have gained popularity. To meet these trends, cosmetic manufacturers rely on specific cosmetic chemicals that align with these preferences and formulate products accordingly. The cosmetics industry is highly competitive, and companies constantly strive to innovate and introduce new products to capture consumer attention. This drive for innovation fuels the need for novel cosmetic chemicals that enable the development of unique and effective formulations. Manufacturers seek cosmetic chemicals that offer enhanced performance, texture, stability, and novel functionalities, helping them stay ahead in the market and meet consumer demands. The demand for personal care products is not limited to women; there is also a growing market for male grooming products. Men are increasingly investing in skincare, haircare, and grooming products, creating new opportunities for cosmetic manufacturers. This expansion in the male grooming market drives the demand for cosmetic chemicals tailored to meet the specific needs and preferences of male consumers. Therefore. Manufacturers rely on cosmetic chemicals to create diverse and innovative formulations that cater to the evolving needs and preferences of consumers in the personal care industry. Hence, all the above-mentioned factor is expected to propel the demand for United States cosmetic chemicals market growth.
Growing Domestic Demand for Functionality Cosmetic Products is Driving the United States Cosmetic Chemicals Market Growth
The growing domestic demand for functionality cosmetic products is a significant driver behind the growth of the United States cosmetic chemicals market. Functionality cosmetic products refer to those that offer specific benefits or functionalities beyond traditional cosmetic attributes. Consumers are seeking cosmetic products that go beyond basic aesthetics and offer additional functionalities. They are looking for products that provide specific benefits such as anti-aging properties, sun protection, hydration, brightening, or blemish control. These products require the incorporation of specialized cosmetic chemicals that deliver the desired functionalities, driving the demand in the market. Technological innovations in the cosmetic industry have opened new avenues for functionality cosmetic products. For example, the use of encapsulation technology allows the controlled release of active ingredients, providing long-lasting benefits. Nanotechnology enables the development of cosmetic chemicals with enhanced penetration capabilities, improving the effectiveness of skincare products. These technological advancements rely on specialized cosmetic chemicals, thereby driving their demand in the market.
Functionality cosmetic products often incorporate active ingredients that offer targeted benefits. These can include antioxidants, peptides, retinol, hyaluronic acid, and botanical extracts, among others. The formulation of products with specific functionalities requires the use of cosmetic chemicals that enable the stability, efficacy, and delivery of these active ingredients. The growing demand for specialized formulations drives the need for corresponding cosmetic chemicals. The United States has a significant market for anti-aging and skincare products. Consumers are increasingly investing in skincare routines and seeking products that address signs of aging, promote skin health, and provide advanced skincare benefits. Cosmetic chemicals play a crucial role in formulating these products with specific anti-aging and skincare functionalities, contributing to the growth of the cosmetic chemicals market. Increasing awareness of beauty and wellness among consumers has led to a shift towards products that offer holistic benefits. Functional cosmetic products that combine beauty with wellness attributes, such as natural or organic ingredients, environmentally friendly formulations, and clean beauty concepts, are gaining popularity. Cosmetic chemicals that align with these attributes are in demand to create such products. Hence, the growing demand for functionality cosmetic products is expected to propel the demand in United States cosmetic chemicals market.
Key Market Challenges
Disruptions in Supply Chain
The United States cosmetic chemicals market has long been a dynamic and innovative sector, contributing to the development of a wide range of beauty and personal care products. However, amidst the ever-changing landscape of global trade, the industry faces a significant challenge in the form of disruptions in the supply chain. The cosmetic industry relies on a wide array of raw materials, including natural extracts, synthetic chemicals, fragrances, and packaging materials. Disruptions in the supply of these materials, caused by factors such as natural disasters, geopolitical tensions, or regulatory changes, can lead to production delays and shortages. Moreover, supply chain disruptions can affect quality control processes, leading to compromised product integrity. Ensuring compliance with regulatory standards becomes more challenging when supply chain disruptions impact ingredient sourcing or manufacturing processes. Manufacturers heavily rely on a steady supply of cosmetic chemicals to produce formulations. Shortages or delays can disrupt production schedules, affecting the availability of finished products in the market.
Rising Cost for Research and Development
The United States cosmetic chemicals market has long been a hub of innovation, driving the development of a wide array of beauty and personal care products that cater to diverse consumer needs. However, amidst the pursuit of breakthrough formulations and cutting-edge ingredients, the industry faces a significant challenge such as the rising cost of research and development (R&D). The integration of advanced technologies, such as nanotechnology, biotechnology, and artificial intelligence, into cosmetic R&D adds a layer of complexity and cost to the development process.
Key Market Trends
Customization and Personalization of Cosmetic Products
Customization and personalization are emerging trends in the cosmetic industry. Consumers seek products that are tailored to their specific needs and preferences. Cosmetic chemicals enable the customization of formulations, allowing manufacturers to create products that cater to individual requirements. This customization trend leads to a higher demand for cosmetic chemicals that support the development of personalized functionality cosmetic products.
Globalization and E-Commerce
As the beauty and personal care industry becomes increasingly interconnected and digitally driven, the dynamics of sourcing, distribution, and consumer engagement are evolving. Globalization has expanded access to a wide array of raw materials, both natural and synthetic, sourced from different regions. This diversity enhances product formulations and allows cosmetic manufacturers to create innovative and unique products. Improved transportation and communication technologies facilitate the efficient movement of cosmetic chemicals and finished products across the globe. This enables companies to collaborate with international suppliers, manufacturers, and distributors seamlessly. Moreover, e-commerce platforms enable cosmetic chemical manufacturers to directly engage with consumers, sharing product information, benefits, and usage instructions. This direct connection fosters brand loyalty and consumer trust. E-commerce generates vast amounts of data that can be analyzed to gain insights into consumer behavior, preferences, and trends. This data informs product development and marketing strategies.
Segmental Insights
Type
In 2022, the cosmetic chemicals market was dominated by the Emollients & Moisturizers and is predicted to continue expanding over the coming years.
Application Insights
In 2022, the cosmetic chemicals market was dominated by skin care segment and is predicted to continue expanding over the coming years.
Regional Insights
The Midwest region has established itself as the leader in the United States Cosmetic Chemicals Market.
Recent Developments
- Givaudan has announced that it will acquire a portfolio of majorcosmetic ingredients from Amyris and is expected to close in the second half of2023. The acquisition will help Givaudan to meet the growing demand forsustainable and natural ingredients and expand its reach into new markets.
- In 2023, Evonik has acquired the cosmetic delivery company InfinitecActivos and is expected to close in July 2023. The acquisition will boostEvonik's system solutions portfolio, to focus on the development and productionof novel active delivery systems for cosmetic active ingredient applications.
- In 2021, Ashland completed the acquisition of the personal care businessof Schülke & Mayr GmbH, a portfolio company of EQT on valuation of USD280.7 million. The acquisition of Schülke & Mayr's personal care businessstrengthens Ashland's consumer business portfolio and enhances the company'sspecialty additives position and also expands Ashland's biotechnology andmicrobiology technical competencies.
Key Market Players
- BASF Corporation
- The Dow Chemical Company
- Stepan Company
- AkzoNobel Surface Chemistry LLC
- Croda, Inc.
- Clariant Corporation
- Solvay USA, Inc.
- Evonik Corporation
- Ashland, Inc.
- Wacker Chemicals Corporation
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