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The cosmetic chemicals market has exhibited robust growth, with a projected increase from $19.01 billion in 2023 to $20.2 billion in 2024, representing a compound annual growth rate (CAGR) of 6.2%. This growth can be attributed to factors such as consumer demand for beauty products, changing beauty standards, and globalization and urbanization. Looking ahead, the market is expected to continue its strong growth, reaching $25.83 billion by 2028, with a CAGR of 6.3%.

Impact of Increasing Disposable Incomes

The growth of the cosmetic chemicals market is fueled by increasing disposable incomes worldwide. Rising disposable incomes lead to higher spending on beauty and personal care products. For example, in India, the rise in disposable income of consumers increased from 238.57 million in 2021 to 274.13 million in 2022. This trend is expected to drive the demand for cosmetic chemicals in emerging economies.

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Innovative Product Developments

Product innovation is a key trend in the cosmetic chemicals market, with companies focusing on developing innovative products to strengthen their market position. For instance, Merck & Co. Inc. launched RonaCare Baobab and RonaCare Hibiscus, two new cosmetic ingredients derived from the baobab fruit and hibiscus flower. These botanical extracts offer strong elastin and collagen protection, reducing skin irritation and boosting the vitality of skin cells.

Strategic Acquisitions Enhancing Market Presence

Strategic acquisitions play a significant role in expanding market presence and product portfolios. Evonik Industries AG acquired Botanica, a Switzerland-based plant extract producer and cosmetic chemicals company, to strengthen its portfolio of active ingredients. This acquisition is expected to complement Evonik’s cosmetic ingredients portfolio.

Market Segmentation and Regional Outlook

The market is segmented by product type and application. Product types include surfactants, emollients and moisturizers, colorants and pigments, preservatives, and emulsifying and thickening agents. Applications include perfumes and fragrances, hair care and skincare, color cosmetic chemicals, and others. North America was the largest region in the cosmetic chemicals market in 2023, while Asia-Pacific is expected to be the fastest-growing region during the forecast period.

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The Cosmetic Chemicals Global Market Report 2024  provides an overview of the cosmetic chemicals market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cosmetic chemicals market forecast analyzes cosmetic chemicals market size, cosmetic chemicals market share, leading competitor and their market positions.

The Table Of Content For The Cosmetic Chemicals Market Include:
1. Cosmetic Chemicals Market Executive Summary
2. Cosmetic Chemicals Market Segments
3. Cosmetic Chemicals Market Size And Cosmetic Chemicals Market Growth Rate
4. Key Cosmetic Chemicals Market Trends
5. Major Cosmetic Chemicals Market Drivers
……
25. Key Mergers And Acquisitions In The Cosmetic Chemicals Market
26. Top Cosmetic Chemicals Companies
27. Cosmetic Chemicals Market Opportunities And Strategies
28. Cosmetic Chemicals Market, Conclusions And Recommendations
29. Appendix

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