Cosmetic & toiletry chemicals market is set to witness the high demand over the forecast period due to the significant growth of population in the last decade and income growth of middle-class groups in emerging countries. With increasing consumer base, there is also significant demand for quality and premium cosmetic products which is set to become a trend of the Cosmetic & Toiletry Chemicals Market. Furthermore, in well-developed urban cities, urban women use at least five or more cosmetic and skincare products a day which creates significant opportunities for cosmetic & toiletry chemicals market over the forecast period. In Year 2014, The United States Department of Commerce estimated that in well-developed countries like Singapore, New Zealand, France, and South Korea per capita cosmetics spending was in the range of US$ 100 to US$ 200.
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In line with the most popular products are skincare products, sun care products, and other seasonal products, whereas skin tone products are trending in the cosmetic & toiletry chemicals market. In some regional markets, skincare products account for over 40% of the total sales of cosmetic products. Not only skincare products but also increasing experimenting with new color shades for makeup and hair colors are trending in the cosmetic & toiletry chemicals market. In cosmetic & toiletry chemicals market, some of the categories which represent significant growth are color cosmetics, lip care products, a wide range of products for eyes and nails, etc.
With rising consumption of cosmetic & toiletry chemicals across all the geographic regions, it is posing a threat to the ecosystem. Cosmetic products contain more than ~five thousand chemical additives which are carcinogenic, that promotes carcinogenesis (the formation of cancer) and can cause an allergic reaction. Moreover, cosmetic and personal care products also contain harmful chemicals like parabens, triclosan, microplastics, and other toxic substances which are harming the environment and the user as well. These chemicals are biologically active and can accumulate in eco-cycles which are posing new threats to our environment. Attribute to the harmful nature of cosmetic & toiletry chemicals and pollution caused by them are creating significant threats for cosmetic & toiletry chemicals market while opening doors for innovative solutions and bio-based products.
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Cosmetic & Toiletry Chemicals Market: Regional Outlook
The report on the global cosmetic & toiletry chemicals market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. As per the published report of The International Trade Administration, 2016; Asia dominates the market of cosmetic & toiletry chemicals market, and with near 3 billion customer base, it is set to propel the market over the forecast period. In the Asia Pacific, due to the significant population of China and the growing demand for personal care products is set to become the most significant global market for cosmetic & toiletry chemicals.
North America holds a significant share of the cosmetic & toiletries chemicals market, and due to increasing demand for premium products, it is set to spur the growth of cosmetic & toiletries chemicals market. Europe is expected to follow similar trend that of North America which is set to witness substantial growth opportunities due to the high demand of organic-based products and would drive the cosmetic & toiletries market over the forecast period.
Prominent players in the global cosmetic & toiletry chemicals market are BASF SE, Dow, Terry Labs, Clariant, Bayer AG, ECKART GmbH, Shell Chemical LP, Lonza, Schulke and Mayr GmbH, J.M. Huber Corporation and others. The cosmetic & toiletry chemicals market consists of well-diversified global and regional players with global vendors ruling the market.
The research report presents a comprehensive assessment of the cosmetic & toiletry chemicals market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The cosmetic & toiletry chemicals market report provides analysis and information, according to market segments such as geographies, source, type, and application.
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