The ingredients obtained from plants and genetically modified microorganisms, such as yeast and bacteria, are bio-based. The bio-based ingredients consist of oleoresin, essential oils, and several other plant extracts using various techniques such as cold pressing or compression, steam distillation, and solvent extraction.
The consumer demand for natural and bio-based products derived from plant extracts has resulted in the rapid growth of the bio-based cosmetics and personal care ingredients market. The primary factor for the increasing adoption of bio-based ingredients for cosmetic products is the harmful effects of chemical products. This has further led to consumers showcasing an inclination toward products that contain bio-based ingredients. As a result, cosmetics companies are consequently substituting synthetic chemicals with bio-based ingredients. Bio-based cosmetics products provide a sustainable alternative to petroleum-based products and help lessen the amount of carbon dioxide in the atmosphere.
Bio-Based Cosmetics and Personal Care Ingredients Industry Overview -
The global Bio-Based Cosmetics And Personal Care Ingredients Market was estimated at $4,679.33 million in 2021 and is expected to reach $8,122.74 million by 2031, growing at a CAGR of 5.67% during the forecast period 2021-2031.
Bio-Based Cosmetics and Personal Care Ingredients Market by Application -
The skin and sun care segment is expected to lead the global bio-based cosmetics and personal care ingredients market during the forecast period 2021-2031.
The global adoption of bio-based ingredients for skin and sun care cosmetic products has been the maximum due to the growing demand for clean label beauty products and the increasing health-consciousness among consumers.
Bio-Based Cosmetics and Personal Care Ingredients Market by Active Ingredients -
The vitamins and derivatives segment is expected to lead the global bio-based cosmetics and personal care ingredients market during the forecast period 2021-2031. Changing lifestyles and widespread consciousness related to enhancing the overall personality among consumers are expected to drive the global vitamins and derivatives market.
Bio-Based Cosmetics and Personal Care Ingredients Market by Region -
North America and Europe hold significant shares in the global bio-based cosmetics and personal care ingredients market. North America is currently the largest revenue-generating region in the bio-based cosmetics and personal care ingredients market. The U.S. is the leading country in the bio-based cosmetics and personal care ingredients market in the North America region.
Europe is the second-largest market globally mainly due to the growing effects of pollution, such as the risk of skin cancer, premature skin aging, dryness, roughness, and discoloration, which push consumers toward protecting their skin using chemical-free products.
Asia-Pacific is currently the fastest-growing region in the bio-based cosmetics and personal care ingredients market.
Key Market Players and Competition Synopsis -
The companies that are profiled in the report have been selected based on a selective pool of players, primarily Tier-1 (holding 50-60% of the market) and mid-segment players (comprising 30-40% share), and small and emerging companies (holding the balance 10-20% share), based on various factors such as product portfolios, annual revenues, market penetrations, research, and development initiatives, along with a domestic and international presence in the bio-based cosmetics and personal care ingredients industry.
Some of the leading players currently in this market include companies such as BASF SE, Covestro AG, DSM, Clariant, DOW, Dynamic Blending Specialists, Croda International Plc, Evonik Industries AG, ELEMENTIS PLC, CORBION N.V., Alternative Plants Ltd., Ashland, Solvay, Momentive, and The Lubrizol Corporation.
How This Report Can Add Value
This report will help with the following objectives:
- A dedicated section focusing on the futuristic trends adopted by key players operating in the global bio-based cosmetics and personal care ingredients market
- Extensive competitive benchmarking of top 15 players (including producers and component providers) offering a holistic view of the global bio-based cosmetics and personal care ingredients landscape
- Qualitative and quantitative analysis of bio-based cosmetics and personal care ingredients industry at region level granularity based on application and active ingredients segments
Product/Innovation Strategy: The product segment helps the reader in understanding different types of active ingredients (vitamins and derivatives, ceramides, peptides, resveratrol, potassium sorbate, bio-succinic acid, hyaluronic acid, glycerine, creatine, alpha hydroxy acids, and others) used in bio-based cosmetic products. The report also includes a thorough qualitative and quantitative analysis of various application areas such as skin and sun care, hair care, make-up and color cosmetics, fragrances, and others. Additionally, the research also covers regional and country-wise analysis for different applications and active ingredients in the bio-based cosmetics and personal care ingredients market.
Recent Developments in Bio-Based Cosmetics and Personal Care Ingredients Market
- In May 2021, BASF SE and Allied Carbon Solutions Co., Ltd. signed an agreement to expand the market capacity of bio-based surfactants and active ingredients.
- In October 2021, Ashland launched a new line of gentle deodorant with the brand name Sensidin, a pure skin multifunctional that provides powerful and fast efficacy against odor-causing bacteria at very low use concentrations while respecting the individual microbiome.
- In October 2021, Evonik Industries AG acquired the Swiss plant extract producer Botanica for enhancing its entire product portfolio in the active cosmetic ingredients market.
- In December 2021, Elementis Plc signed a new distribution agreement with DKSH Partner to provide personal care products in Belgium, including antiperspirant activities.
Key Questions Answered in the Report :
- What are the major factors and trends impacting the global bio-based cosmetics and personal care ingredients market, and how has the COVID-19 affected the market?
- What are the steps taken by the existing players to improve their market positioning?
- Which are the leading applications in the market, and how are they expected to perform in the coming years?
- What are the latest developments across the globe with respect to RD, and what would be the trending technology used in the bio-based cosmetics and personal care ingredients market?
- What are the consumption patterns of bio-based cosmetics and personal care ingredients across different regions and countries? Moreover, is there any government regulation across the globe impacting the bio-based cosmetics and personal care ingredients market?
- How do the bio-based ingredients compare to the incumbent synthetic ingredients?
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