Sarasota, FL -- (SBWIRE) -- 05/11/2018 -- Zion Market Research has published a new report titled "Cosmetic Ingredients Market By Type (Surfactants, Conditioning Polymers, Emulsifiers, Emollients, Antimicrobials, UV absorbers, Antioxidants and Preservatives, and Rheology Modifiers), By Application – Skin Care, Hair Care, Make Up, and Oral Care) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2023". According to the report, the global cosmetic ingredients market was valued at around USD 21.85 billion in 2016 and is expected to reach approximately USD 31.80 billion by 2023, growing at a CAGR of around 4.43% between 2017 and 2023.

Cosmetic ingredients are the precise set of substances, used in the formulation and composition of cosmetics. Moreover, cosmetic ingredients are used as a cleansing agent, moisturizing agent, and coloring agents. It is typically used to enhance physical appearance, which in turn makes people more confident and pleasing.

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Cosmetic ingredients market is expected to witness substantial growth within the forecast period. Cosmetic ingredients have been gaining importance due to its extensive application in skin care, make-up, hair care and oral care. An increase in the purchasing power of the global population can also be attributed to the growth of the cosmetic ingredients market. The cosmetic ingredients market is projected to grow at a CAGR of 4.43% during the forecast period. The market is mainly driven due to increasing new products or cosmetic ingredients developed by manufacturers in order to meet specific needs of consumers. Growing demand in emerging economies is anticipated to set new growth opportunities in the near future.

Based on the type, surfactants segments hold major market share and is expected to remain dominant throughout the forecast period. Approximately 10% of surfactants are produced in all over the world, which is generally used in the composition & formulation of cosmetic. Thus, the demand of this ingredient will help to support the cosmetic ingredients market growth in near future.

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By application, hair and skin care segment is expected to attain a major market share of the global cosmetic ingredients market during the forecast period. Growing demand for natural hair and skin care product without ammonia, sulfur, and paraben is increasing at a rapid pace. People are more inclined towards hair care products for hair fall control and dandruff protection. In turn, cosmetic ingredients market will gain more share value over the forecast period.

The market for cosmetic ingredients is directly influenced by the continuous new products launched by the manufacturers and increasing research & developmental activity, which is likely to boost the global market growth. For instance, in November 2016, Ashland launched Elixiance Bio functional, a multi-functional cosmetic ingredient rich in phytoantioxidants, which offers protection from oil control and anti-aging. Moreover, rising disposable income and changing lifestyle with increasing health & beauty consciousness among the population is anticipated to enhance demand for cosmetic ingredients.

By geography, the cosmetic ingredients market is mainly segmented into North America, Europe, Latin America, Asia Pacific and Middle East & Africa. Among all, Asia-Pacific is projected to be the fastest-growing regional market between 2017 and 2023. The emerging economies of the Asia-Pacific region are a major market for cosmetic ingredients and are increasingly contributing to their demand, due to rise in disposable income, increase in population, and growth in the demand for cosmetic products; owing to which, the cosmetic ingredients market is projected to grow at the highest rate in this region. After the Asia Pacific, North America and Europe are other regions which are projected to exhibit significant growth in coming future.

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The report also includes detailed profiles of key players operating in the market such as Akzo Nobel N.V., Ashland Inc., BASF SE, Croda International Plc, Clariant AG, Evonik Industries AG, Innospec Inc., Lonza Group, Solvay SA, and The Dow Chemical Co. The detailed description of players includes parameters such as company overview, financial overview, business strategies and recent developments of the company.

This report segments the Global Cosmetic Ingredients Market as follows:

Global Cosmetic Ingredients Market: Type Segment Analysis

Surfactants
Conditioning Polymers
Emulsifiers
Emollients
Antimicrobials
UV absorbers
Antioxidants and Preservatives
Rheology Modifiers

Global Cosmetic Ingredients Market: Application Segment Analysis

Skin Care
Hair Care
Makeup
Oral Care

Global Cosmetic Ingredients Market: Regional Segment Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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