The global cosmetic antioxidants market size is expected to reach USD 178.1 million by 2028 according to a new study by Polaris Market Research. The report “Cosmetic Antioxidants Market Share, Size, Trends, Industry Analysis Report, By Type (Enzymes, Vitamins, Polyphenols, Carotenoids, Others); By Source; By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is driven by growing health consciousness and greater awareness regarding beauty and wellness. The increasing disposable income of consumers and growing shift towards skincare and wellness products has significantly increased the demand for the product. However, the global industry has been impacted by the outbreak of COVID-19.
The demand for personal care products has increased during the pandemic, whereas hair care, sunscreen, and makeup products have experienced a decline in their demand. Disruption of supply chain, regulated movement of individuals and goods, decreased deliveries, roadblocks, and other logistic issues have hindered the industry growth during the pandemic.
On the basis of type, the industry is segmented into enzymes, vitamins, polyphenols, carotenoids, and others. The vitamins segment dominated the global market in 2020. Vitamins are incorporated into personal care products to protect the skin and hair from damage. Vitamin antioxidants are used to stabilize oxygen-sensitive ingredients in cosmetic formulations.
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Plant extracts such as grape seed, green tea, rosemary, pine bark, blueberry, and milk thistle are incorporated in cosmetic formulations. These extracts are rich in natural antioxidants like flavonoids, polyphenols, and terpenes, among others. Health benefits associated with natural cosmetic antioxidants, increasing health awareness among consumers drive the growth of this segment.
The different applications covered in the report include UV protection, anti-aging, hair cleansing, moisturizing, anti-inflammatory, and others. Ascorbic acid and tocopherol are some antioxidants used in anti-aging formulations for a healthy and youthful appearance. Rapid urbanization, growing environmental pollution, and increasing adoption of beauty trends drive the growth of this segment. In addition, growing health and beauty service industry in the developing economies has fuelled the growth of this segment.
Increasing geriatric population coupled with rising awareness regarding the benefits of the product fuels the growth in Asia Pacific. Global players are expanding their presence in developing nations of Japan, China, India, and South Korea to tap the growth opportunities offered by these countries.
Some major market participants Evonik Industries AG, Lonza Group,Wacker Chemie AG, S.L., Kemin Industries, Inc., Croda International Plc, BASF SE, Nutreco N.V., Ashland Global Holdings, BTSA Biotecnologías Aplicadas, Camlin Fine Sciences Ltd., Koninklijke DSM N.V., and Eastman Chemical Company.
Polaris Market Research has segmented the cosmetic antioxidants market report on the basis of type, source, application, and region:
Cosmetic Antioxidants, Type Outlook (Revenue, USD Million, 2016 – 2028)
Cosmetic Antioxidants, Source Outlook (Revenue, USD Million, 2016 – 2028)
Cosmetic Antioxidants, Application Outlook (Revenue, USD Million, 2016 – 2028)
- UV Protection
- Hair Cleansing
Cosmetic Antioxidants Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa