Pearl Extract Market Share, Size, Trends, Industry Analysis Report, By Type (Freshwater Pearl Extracts and Saltwater Pearl Extracts); By Application; By Distribution Channel; By Region; Segment Forecast, 2024 – 2032
- Published Date:Jan-2024
- Pages: 114
- Format: PDF
- Report ID: PM4167
- Base Year: 2023
- Historical Data: 2019 – 2022
The global pearl extract market was valued at USD 327.88 million in 2023 and is expected to grow at a CAGR of 8.9% during the forecast period.
Increasing consumer awareness about the potential benefits of natural and organic ingredients in skincare as well as cosmetic products and growing uses of pearl extract in a wide range of products due to its numerous benefits for skin health like brightening, hydrating, and anti-aging properties, among others, are among the leading factors fostering the growth of the market. Additionally, with the rapid increase in the number of consumers seeking natural and eco-friendly products, the demand for pearl extract as an effective alternative to synthetic and harmful ingredients has been growing substantially over the years.
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- For instance, in June 2021, Tatcha introduced its new range of products, including The Silk Powder & Powder Brush, to the market. The newly designed silk powder is a talc-free formula that filters the blue light & is crafted with amino acids, silk extracts, and luminous pearls.
Moreover, rapid development and improvements in modern extraction methods such as ultrasonic extraction, supercritical fluid extraction, and microwave-assisted extraction are being introduced to improve the efficiency of extracting bioactive compounds from pearls while preserving the bioactive properties of the extract and making them suitable for a wider range of products from skincare and cosmetic industries.
However, the high cost associated with the production of pearl extract, as it includes the cultivation and processing of pearls presence of several strict guidelines and safety standards for the use of pearl extract in dietary and cosmetic products, can be a challenge for product manufacturers to comply with, are the major factors expected to hamper the growth of the market growth.
- Increased demand for organic and natural ingredients and growing incidences of stress and anxiety likely to spur market growth
There has been a drastic increase in the number of consumers globally seeking natural and organic ingredients like pearl extract in their skincare and cosmetic products due to its anti-aging and skin-brightening properties as it contains high calcium and amino acid content, which, in turn, boosts the global market growth at substantial pace. Besides this, the rising incidences of stress and anxiety across the globe due to growing work pressure and the emerging busy & hectic lifestyle of people have led to greater demand for pearl extract, as they are believed to have a calming and sedative effect on the nervous system.
For instance, according to a report published by the Australian Bureau of Statistics, approx. 42.9% of people aged between 16-85 years experienced a mental disorder at some phase in their life, and almost 21.5% of people are expected to have suffered from a 12-month mental disorder, mainly anxiety.
The market is primarily segmented based on type, application, distribution channel, and region.
By Distribution Channel
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By Type Analysis
- Freshwater pearl extracts segment accounted for the largest market share in 2023
The freshwater pearl extracts segment accounted for the largest share, mainly due to their widespread adoption in the beauty and cosmetics industry because of their skin-nourishing and anti-aging properties, which make them significantly popular in products from such industries. Apart from this, freshwater pearl extracts are widely known to help reduce the appearance of wrinkles and fine lines, as they are rich in minerals and amino acids like calcium and conchiolin.
With the rising concerns about the impact of synthetic chemicals and artificial additives on both the environment and human skin, consumers are becoming more conscious of using products with natural and organic ingredients, thereby, the adoption of freshwater pearl extracts as a natural source and safer and more environmentally friendly option is growing at exponential rate.
By Application Analysis
- Cosmetics and personal care products segment held the significant market share in 2023
The cosmetics and personal care products segment held the significant market revenue share in 2023, which is majorly driven by growing consumer interest in cosmetic products and surging utilization of creams, lotions, powder, and sun creams formulated with pearl extract to protect their skin, as pearl extract is rich in nutrients that are believed to offer various skin benefits including brightening and hydrating.
Furthermore, the substantial increase in consumer disposable income, particularly in emerging economies like India, China, Indonesia, and Malaysia, among others, has led to increased consumer spending on premium cosmetic and personal care products and supported the growth of premium and luxury skincare items containing pearl extract.
By Distribution Channel Analysis
- Online segment is projected to witness highest growth throughout forecast period
The online segment is projected to grow at the highest growth, which is mainly attributable to the rising proliferation of various e-commerce platforms worldwide and increasing preferences among consumers towards online shopping over retail and online options due to numerous advantages associated with online shopping platforms like wider product availability, global reach and accessibility, greater convenience, convenient payment methods, and home delivery, among others.
The offline segment led the industry market with a substantial share in 2023, which is majorly driven by the easy availability of pearl extract products in physical retail locations along with their efficiency and wider reach of distribution networks that ensure that pearl extract is widely distributed to several retail outlets.
North America region dominated the global market in 2023
The North America region dominated the global market. The regional market growth is highly attributable to the growing adoption of natural and organic products in the region, with people constantly becoming aware of the potential benefits of pearl extract along with the surge in the number of manufacturers focusing on innovating new products, including beauty products, supplements, and specialized skincare lines, which incorporates pearl extract.
Asia Pacific will grow significantly, mainly due to the continuous expansion of the middle-class population in Southeast Asian nations that has created a significantly larger consumer base for premium skincare and beauty products along with the presence of favorable regulatory support and incentives on the use of natural and traditional ingredients in cosmetics and skincare products.
For instance, according to our findings, the total middle-class population of China has drastically increased from 39.1 million in 2022 to approx. 707 million in 2018, which makes up over 50% of the country’s overall population. It is also estimated that China will account for 37% of the world’s middle-class population by 2050.
Key Market Players & Competitive Insights
The pearl extract market is highly fragmented in nature with the robust presence of global market players, who are constantly focusing on various market expansion and development strategies such as partnerships, collaborations with local players, acquisitions, mergers, and participation in upcycle trends to reduce waste as well as creating new products with enhanced characteristics.
Some of the major players operating in the global market include:
- Active Concepts LLC
- Azelis Americas LLC
- BASF SE
- Biophilia Co. Ltd.
- Biospectrum Inc.
- Croda Inc.
- Givaudan SA
- Kobo Products Inc.
- L’Oreal S.A.
- Nagase & Co. Ltd.
- Natura Biotechnol
- Nihon Kolmar Co. Ltd.
- Procter & Gamble Co.
- Symrise AG
- Trilogy International Limited
- United Chemical Compnay
- In December 2022, BASF, announced the launch of its new Euperlan NL Pearl, a new wax-based COSMOS complaint pearlizer for personal care products. It offers opacifying & pearlized effects without using any pigments and being used in hair care.
- In May 2023, CPL introduced new pearl body scrub products in pharmacies that will help the company expand its product offerings in the market. The newly launched pearl body scrub collection is available in different packages, including 250 & 500 ml, and offers turmeric, lemon, & coffee scents.
Pearl Extract Market Report Scope
Market size value in 2024
USD 356.11 million
Revenue forecast in 2032
USD 705.66 million
8.9% from 2024 – 2032
2019 – 2022
2024 – 2032
Revenue in USD million and CAGR from 2024 to 2032
By Type, By Application, By Distribution Channel, By Region
North America, Europe, Asia Pacific, Latin America; Middle East & Africa
Report customization as per your requirements with respect to countries, region and segmentation.
key companies in pearl extract market are Kobo Products, Nihon Kolmar, Procter & Gamble, Trilogy International, Symrise
The global pearl extract market is expected to grow at a CAGR of 8.9% during the forecast period.
The pearl extract market report covering key segments are type, application, distribution channel, and region.
key driving factors in pearl extract market are increased demand for organic and natural ingredients and growing incidences of stress and anxiety likely to spur market growth
The global pearl extract market size is expected to reach USD 705.66 million by 2032