In terms of value, the cosmetic antioxidants market is estimated to grow from USD 132 million in 2023 to USD 178 million by 2028, at a CAGR of 6.2%
In developed countries, consumer awareness about ingredients used in cosmetic products is high, and there is a preference for natural antioxidants over synthetic. For example, consumers in the US and European countries seek natural antioxidants in skincare, haircare, and makeup products due to their health benefits and fewer side effects.
New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cosmetic Antioxidants Market by Source, Type, Function And Application - Global Forecast to 2028" - https://www.reportlinker.com/p05440508/?utm_source=GNW
Synthetic cosmetic antioxidants are inexpensive and in high demand in developing countries. This trend can also be attributed to less stringent regulations regarding the use of synthetic antioxidants in cosmetic products, especially in developing countries as compared to regulations in developed economies.
*UV protection is expected to be the fastest-growing function of the cosmetic antioxidants market, in terms of value, during the forecast period.*
Long exposure to ultraviolet (UV) radiation from the sun or artificial UV sources causes premature aging of the skin, which is known as photoaging.Photoaging is primarily triggered by reactive oxygen species (ROS), which causes biological damage to the skin and leads to sunburn and tanning; it might also cause skin cancer.
Therefore, cosmetic products such as sunscreen lotions and creams are used to overcome the effects of photoaging.
*Synthetic source accounted for the second largest share of the cosmetic antioxidants market, in terms of value, in 2022.*
Chemically derived antioxidants are derived through various chemical processes.They are used in cosmetics due to their cost-effectiveness and easy availability.
However, the demand for chemically derived antioxidants is decreasing as compared to natural antioxidants, owing to the formulation and stringent implementation of various regulations that restrict their use in cosmetics. Butylated hydroxy anisole (BHA), butylated hydroxytoluene (BHT), and tert-Butylhydroquinone (TBHQ) are the major chemically derived antioxidants used in cosmetics.
*Polyphenols is expected to be the second fastest-growing type of the cosmetic antioxidants market, in terms of value, during the forecast period.*
Polyphenols include phytochemicals, such as epigallocatechin gallate, silymarin, genistein, and rosemary extract.Polyphenols have anti-inflammatory and anti-microbial properties.
Epigallocatechin gallate is an antioxidant and anti-microbial agent, which is an active constituent of green tea.Epigallocatechin gallate is an antioxidant and anti-microbial agent, which is an active constituent of green tea.
Resveratrol is a non-flavanoid type of powerful antioxidant.It helps to protect the surface of the skin against any kind of environmental damage.
It also has significant skin-calming properties, which help to minimize the redness of the skin.
*Hair care application accounted for the second largest share of the cosmetic antioxidants market, in terms of value, in 2022.*
Hair care is a term used for hair-related hygiene and cosmetology.Different types of hair care products are manufactured to address different types of hair problems, such as dry hair, frizzy hair, and breaking hair.
These products help to regulate the behavior and properties of hair to maintain and improve its texture and appearance.Cosmetic antioxidants are used in various combinations to form the desired formulation to address specific hair-related problems.
These antioxidants help to limit the effect of free radicals and oxidation caused by the sun, smoke, and pollution. Antioxidants such as green tea and vitamins are widely used to prevent hair loss, as they prevent the follicle from shrinking and stimulate the growth of new and healthy hair.
Middle East & Africa is projected to be the second fastest growing region, in terms of value, during the forecast period in the Cosmetic antioxidants market.
The demand for cosmetic antioxidants in the Middle East & Africa is driven by the growth of cosmetics and personal care industries in the region.Some countries of the Middle East & Africa, such as Turkey, Saudi Arabia, and the UAE, have emerged as premium tourism destinations, wherein imported luxury cosmetics and personal care products are in huge demand.
The Middle East & Africa provides increased growth opportunities for cosmetic ingredient manufacturing and distribution companies.Furthermore, the current strategy of the governing bodies in the countries of the Middle East is to diversify their economy and eliminate their dependence on oil.
These countries are focusing on their manufacturing and services sectors.
• By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
• By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
• By Region: North America - 32%, Europe - 21%, Asia Pacific - 28%, Middle East & Africa - 12%, South America – 7%
The key players profiled in the report include are Evonik Industries AG (Germany), Croda International Plc (UK), BASF SE (Germany), Eastman Chemical Company (US), and Wacker Chemie AG (Germany) among others.
*Research Coverage*
This report segments the market for cosmetic antioxidants based on source, type, function, application and region and provides estimations of value (USD million) and volume (Ton) for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, services, key strategies, associated with the market for cosmetic antioxidants.
*Reasons to Buy this Report*
This research report is focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the cosmetic antioxidants market; high-growth regions; and market drivers, restraints, and opportunities.
*The report provides insights on the following pointers:*
• Market Penetration: Comprehensive information on cosmetic antioxidants offered by top players in the global market
• Analysis of key drives: (growth in automotive sector, demand from medical application, and growing healthcare expenditure and favorable reimbursement scenario), restraints (high initial and maintenance cost of machine), opportunities (rising trend of electric vehicles), and challenges (skilled personnel for operations) influencing the growth of cosmetic antioxidants market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the cosmetic antioxidants market
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for cosmetic antioxidants across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global cosmetic antioxidants market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the cosmetic antioxidants market
Read the full report: https://www.reportlinker.com/p05440508/?utm_source=GNW
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