Cosmetic Chemicals Market – Overview On Demanding Applications 2031 The global cosmetic chemicals market is poised to top US$ 30 Bn by 2031, expanding at above 6% CAGR, according to a latest report published by Fact.MR. Growth is primarily fueled by a flourishing global cosmetics industry, as consumers augment spending on personal care products amid surging disposable incomes. Historically, sales of cosmetic chemicals increased at a CAGR of a little under 5% to reach a valuation of almost US$ 20 Bn by 2019. The market surpassed US$ 21 Bn in 2020; however, COVID-19-induced depression limited prospects in the first half of the previous fiscal. Massive store closures declined cosmetic products sales, disrupting the supply of cosmetic chemicals for further production. For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=6399 Future sales prospects are expected to be majorly influenced by heavy consumption of organic cosmetics. As sustainability concerns aggrandize, consumers are consciously weaning away from inorganic cosmetic products, preferring natural alternatives. Growth is especially poignant across the skincare & haircare products segment, with major cosmetic giants striving to offer 100% organic products. Key Takeaways from Market Study
Skincare & haircare to emerge as primary application areas, accounting for over 30% revenue By product, emollients, skincare & moisturizers to remain top-selling, reaching nearly US$ 11 Bn by 2031 Demand for surfactants and single-use additives to collectively expand at over 11% CAGR until 2031 Organic cosmetic chemicals comprise bulk of U.S. sales, reaching almost US$ 6 Bn in 2020 Market in China to reach a valuation of nearly US$ 7 Bn by 2031, expanding at nearly 9% CAGR by 2031 Japan and Canada are other noteworthy markets, expanding at CAGRs exceeding 3% and 5%, respectively
For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=6399 Key Segments Covered in Market Study Application
Cosmetic Chemicals for Perfumes & Fragrances Cosmetic Chemicals for Haircare & Skincare Color Cosmetic Chemicals Cosmetic Chemicals for Other Applications