The According to a market research report, the “Cosmetic Antioxidants Market by Source (Natural, Synthetic), Type (Vitamins, Enzymes, Polyphenols), Function (Anti-aging, Hair Conditioning, UV Protection), and Application (Skin Care, Hair Care, Make-up)- Global Forecast to 2028″, size was USD 132 million in 2023 and is projected to reach USD 178 million by 2028, at a CAGR of 6.2%, between 2023 and 2028. Cosmetic antioxidants are important in cosmetic formulation and play a key role in encountering free radicals that damage skin and hair. Antioxidants used in cosmetics are substances made of vitamins, enzymes, polyphenols, and minerals. Cosmetic antioxidants are useful in preventing the degradation of ingredients in cosmetic products, skin recovery from damage, UV protection, and slowing down the aging process.
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- 346 Market data Tables
- 56 Figures
- 287 Pages and in-depth TOC on “Cosmetic Antioxidants Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The key players in this market are Evonik Industries AG (Germany), Croda International Plc (UK), BASF SE (Germany), Eastman Chemical Company (US), and Wacker Chemie AG (Germany) are the leading providers of cosmetic antioxidants globally. These companies have manufacturing facilities as well as dominant distribution networks across key regions, such as Asia Pacific, North America, and Europe.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the cosmetic antioxidants market.
Recent Developments in Cosmetic Antioxidants Market Industry
- In May 2023, BASF partnered with BEAUTYSTREAMS to further expand its D’lite digital service for the personal care industry. The collaboration involved monthly trend reports from BEAUTYSTREAMS, providing valuable insights into current developments across the personal care market. These reports complemented the quantitative analyses provided by D’lite, offering a comprehensive view of the industry.
- In August 2022, BASF announced the innovation partnership with a China-based start-up, “Ingredi.” Through this partnership, BASF contributes its expertise in demonstrating how to add natural ingredients into personal care formulations and will market these products globally to its customers.
- In July 2023, The company acquired Novachem, an Argentinian sustainable cosmetic actives innovator, to strengthen its portfolio of sustainable cosmetic active ingredients. Novachem’s
innovative and scientifically proven portfolio of biotechnological, natural, and sustainable cosmetic actives will enhance Evonik’s System Solutions offerings. - In November 2022, Evonik and Intercos Group signed a direct supply agreement. Through this agreement, Evonik will provide Intercos with raw materials, including active ingredients, emulsifiers, and cosmetic oils, through a direct sales channel. The partnership aimed to strengthen cooperation and exchange in the cosmetics industry while committing to the development of more efficacious, safer, and sustainable products.
- In September 2022Eastman Chemical Ltd entered into a distribution agreement with DKSH, a Swiss company. DKSH will be growing Eastman’s personal care business in the existing markets and expanding into new markets as a distributor of Eastman across the entire Asia Pacific region.
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The global cosmetic antioxidants market is segmented based on application into skin care, hair care, and make-up. On the basis of application, the skin care segment was the chief consumer of cosmetic antioxidants in 2022, owing to the high demand for cosmetic antioxidants in anti-aging formulations. The growing demand for cosmetic products, such as anti-aging creams, anti-wrinkle creams, and sunscreens, particularly in emerging countries, has increased the demand for cosmetic antioxidants in the skin care segment of the cosmetic antioxidants market.
Based on source, the cosmetic antioxidants market is segmented into natural and synthetic. Based on source, the natural segment accounted for the major share of the cosmetic antioxidants market in 2022, in terms of value, as the acceptance of natural antioxidants in cosmetic products is increasing owing to their minimal side effects.
The global cosmetic antioxidants market is segmented based on type into vitamins, carotenoids, polyphenols, enzymes, and synthetics. Based on type, the cosmetic antioxidants market was led by the vitamins segment in 2022 in terms of value. Various types of vitamins and their compounds, such as vitamin E (tocopherols), vitamin C (ascorbic acid), and vitamin A (retinol), are widely used in cosmetic products for moisturizing and nourishment purposes.
Based on function, the cosmetic antioxidants market is segmented into anti-aging, anti-inflammatory, UV protection, moisturizing, hair cleansing, hair conditioning, and others. The function segment was led by the anti-aging segment in 2022. Anti-aging cosmetic products help reduce the appearance of fine lines and pigment evening and provide a smooth skin texture. These products require cosmetic ingredients, such as vitamin A, biotin, coenzyme Q10, glycolic acid, green tea, and other vitamins, that help reduce signs of aging.
Among the various regions, Asia Pacific accounted for the largest share of the cosmetic antioxidants market in 2022. This region has a extensive base of youth population that spends more on skincare and other cosmetic products. In addition, countries in Asia Pacific region more lenient towards imposing regulations with respect to cosmetic ingredients. Countries such as China and India are thickly populated economies with increasing preference over beauty & personal care products.
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