CHICAGO, Aug. 11, 2023 /PRNewswire/ -- The report "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.
The cosmetic antioxidants market is driven by the rise in the aging population, increasing disposable income, and changing lifestyles of consumers. Self-expression and appearance are of utmost importance in today's fast-paced social media-driven world, thereby driving the demand for cosmetic products, which in turn, is fueling the demand for antioxidants.
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283 – Tables
77 – Figures
268 – Pages
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Natural source segment to account for larger share in the cosmetic antioxidants market in 2022.
The growth of the natural source segment of the cosmetic antioxidants market can be attributed to the formulation and stringent implementation of various regulatory obligations over the use of chemically derived ingredients in cosmetics. Moreover, the increased awareness among the masses about the benefits offered by natural ingredients is also fueling the growth of the natural source segment of the cosmetic antioxidants market.
Vitamins to lead cosmetic antioxidants market during the forecast period.
Vitamins are used in various cosmetics products. Their positive effect on the human skin is a major driving factor. Vitamins are known for their antioxidant properties, which help protect the skin from damage caused by free radicals. They can also promote collagen production, improve skin elasticity, and enhance the overall appearance of the skin. Additionally, certain vitamins have been found to have moisturizing, brightening, and anti-aging effects.
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Anti-aging segment to account for the larger share of the cosmetic antioxidants market in 2022.
The global population is aging, with a larger proportion of people reaching older age groups. As people age, there is a growing demand for products that can help maintain a youthful appearance and address age-related concerns. Cosmetic antioxidants are widely used in cosmetic products such as serums, face creams, and lotions, among others, as anti-aging ingredients. These antioxidants help increase collagen and hydrate the skin.
Skincare to lead the cosmetic antioxidants market during the forecast period.
Cosmetic antioxidants play a crucial role in skincare products. They help protect the skin from damage caused by free radicals, which are unstable molecules that can lead to inflammation, premature aging, and other skin concerns. These antioxidants can be found in various skincare products, such as serums, moisturizers, and creams. Incorporating products with antioxidants into your skincare routine can help protect your skin and promote a healthier, more youthful appearance.
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Asia Pacific is expected to be the fastest-growing region, in the overall cosmetic antioxidants market, during the forecast period.
The cosmetics industry in the Asia Pacific is flourishing due to a rise in the number of working women, increased spending of the masses on cosmetic products, and the growth of the young population in the region. Increasing population, improving standard of living, and rising e-commerce activities have increased the demand for cosmetic products in the region. Emerging economies such as China and India are high-growth markets for skin care, hair care, and make-up products in the region, owing to the economic growth of these countries and increased consumer spending on cosmetic products.
Market Players
The key players profiled in the cosmetic antioxidants market report include Evonik Industries AG (Germany), Croda International Plc (UK), BASF SE (Germany), Eastman Chemical Company (US), Wacker Chemie AG (Germany) and others.
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