Amid the use of active ingredients in manufacturing cosmetic products, a global trend of integrating vegetable source owing to its rich composition and multifunctional properties has been rising significantly. Botanical extract is usually rich in secondary metabolites and are associated with several cosmetic properties including photo protection, moisturizing, anti-aging, astringent, antioxidant, and anti-irritant properties. This has resulted in burgeoning research and development activities by companies to discover new cosmetic bioactive ingredients.
Demand for Natural Cosmeceuticals to Augment Cosmetic Bioactive Ingredients Market Growth
Cosmetic products have become indispensable in day-to-day life. However, problems such as headache, skin rashes, irritation, dizziness, hyperpigmentation, and violent coughing associated with synthetic cosmetic products have resulted in customers shifting towards their natural counterparts, which is poised to bolster growth of the cosmetic bioactive ingredients market. Increasing awareness among customers apropos to advantages of natural and herbal products have significantly triggered the use of natural bioactive ingredients in the cosmetic space. Moreover, rising demand for microbiome friendly cosmetic products for hair and skin has been witnessed. Younger generation along with adults are becoming more conscious regarding phytoactive and nutritional benefits, which is driving the demand for cosmetic bioactive ingredients that enhance hair and skin without any side effects as compared to synthetic products. In this background, higher efficacy and safety provided by cosmetic bioactive ingredients is expected to augment market growth.
New Launches Expected to Complement the Growth of the Cosmetic Bioactive Ingredients Market
Modest growth in the cosmetic and personal care sector has paved new pathways for growth of cosmetic bioactive ingredients market as companies focus on product innovation and new launches. Increasing research and development activities in this space in a bid to identify better solutions and substitutes to known and present cosmetic formulations have influenced the introduction of novel bioactive ingredients. Development and introduction of new ingredients has been witnessed since past few years. For instance, in 2019, BASF launched a new range of cosmetic bioactive ingredients for the beauty market. These ingredients were extracted from rambutan plant and offer skin hydration and rejuvenation and hair revitalization. Same year, Lonza launched cosmetic bioactive ingredients that are multifunctional in nature. H2OBioEv, a multifunctional cosmetic bioactive ingredient by Lonza offers improved skin rejuvenation and moisturization.
In 2021, BASF Care Creations introduced new cosmetic bioactive ingredients based on Fucus Vesiculosus, a marine algae also referred to as Bladderwrack. These cosmetic bioactive ingredients are an apt solution to fight against dark circles. They also support in reducing appearance of wrinkles, while at the same time enhancing the luminosity of skin around eyes. More importantly, all these favourable cosmetic effects are visible in one week’s time of application.
In 2022, BASF Care Creations launched 4 patented peptides, including them in its Peptovitae range. This was carried out by collaboration of BASF with Caregen that specializes in research and development of biomimetic peptides. This new generation peptide range can address wide range of skin conditions. They can be used to enhance skin brightness, can address skin aging, can fight skin itching and dryness and moisturize the skin. In 2021, Yemoja launched a cosmetic bioactive ingredient derived from microalgae that features anti-aging, rejuvenating and anti-inflammatory properties. Such new launches are likely to complement the growth of the cosmetic bioactive ingredients market in the coming years.
Plant-Based Cosmetic Bioactive Ingredients to Hold High Ground
Plant-based cosmetic bioactive ingredients are likely to gain high traction and are expected to maintain status quo as highly used components in the cosmetic space. Phenolic compounds and carotenoids found in plants allow development of a wide variety of cosmetic bioactive ingredients that feature multifunctional properties facilitating anti-aging, anti-microbial property, skin rejuvenation and other features. Moreover, plant extracts being rich in vitamins, phenolic compounds and flavonoids favour human skin which has influenced their acceptance in manufacturing cosmetic products.
North America to Remain a Lucrative Revenue Pocket
Developed economies in North America are expected to retain high share in the cosmetic bioactive ingredients market, governed by various macro-economical factors. Favourable environment and infrastructure offered by the region have resulted in an increase in the presence of major players. In addition, increasing research activities by institutes in the developed economies are influencing the growth of the cosmetic bioactive ingredients market in North America. For instance, in July 2020, IES (Institute for Environmental Solutions) launched studies focused on developing cosmetic bioactive ingredients with high value additions from medical plants’ bi-products. Other aspects such as increasing awareness regarding adoption of natural cosmeceuticals and higher GDP per capita are further influencing the market growth.
Cosmetic Bioactive Ingredients Competitive Landscape
Few of the major players in the cosmetic bioactive ingredients market include BASF SE, Solvay, Evonik Industries, Clariant AG, Symrise AG, Lonza Group, DOW Chemicals, Ashland Global Holdings, Givaudan and Cargill Inc.
Global Cosmetic Bioactive Ingredients Market is Segmented as Below:
Key Elements Included In The Study: Global Cosmetic Bioactive Ingredients Market
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