Cosmetic antioxidants are agents or ingredients that widely used in cosmetic formulations to improve shelf life of cosmetic products and protect human cells against any damages. These antioxidants play a significant role in superior cosmetics products such as skincare and hair care. Cosmetics antioxidants are generally made of vitamins, mineral, oil, and many other ingredients. These antioxidants help neutralize free radicals, which are produced by auto pollution, street air, sunlight, and other environmental factors, especially industrial sources. They produce a barrier on the skin or hair to protect from the ultraviolet infrared and other environmental rays.
The global cosmetics antioxidants market has been seeing ample growth from the past few years. The demand for cosmetics antioxidants is primarily driven by growing demand for premium products from consumers due to increasing use of beauty products and personal care products in daily life. Likewise, factors such as increasing old age population, changing lifestyle and consumer demand across the globe, surge in the demand for male cosmetics in recent years, growing demand and awareness for personal care products owing to the benefits provided by several antioxidants are expected to improve growth of the market during the forecast period.
Nevertheless, high cost associated with natural antioxidants and rising concerns regarding the use of synthetic antioxidants and massive availability of advanced medical treatments for skin and hair in developed countries are some of the major restraining factors that could hamper the growth of the market.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the cosmetic antioxidants market. In addition, complete analysis of changes on the cosmetic antioxidants market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the cosmetic antioxidants market was moderate owing to the decreasing in sale of cosmetic had ultimately hinder the production and supply of cosmetic antioxidants in market. However, rising shift towards online purchase of cosmetics during the pandemic is likely to boost market growth.
The study analyses global cosmetic antioxidants market based on source, function, type, application and geography.
Based on source, natural antioxidant segments segment dominated the market in 2020 and is projected to maintain its dominance during the forecast period. An increasing demand for cosmetics products made using natural ingredients such as naturally-occurring minerals, vitamins, and oils is major driving factor that attributed to the market growth. In addition, factors such as growing demand for herbal cosmetic products owing to their several benefits and rising preference towards using natural ingredient based cosmetics products than chemically-derived products are further likely to improve growth of the segment.
Based on function, hair conditioning and anti-aging segments are expected to witness rapid growth over the forecast period. Major factors such as rising old age population across the globe, increasing concerns regarding skin-aging and hair quality and growing adoption of hair conditioning products, especially by females to maintain hair quality are accredited to the growth of the segment.
Based on type, the market is segmented into vitamin, carotenoids, enzymes, polyphenols, synthetics and others. The vitamin segment is projected to witness rapid growth during the forecast period. Rising application of vitamin A, E, C and B3 in several cosmetics products such as skin care products is flourishing the growth of the vitamin segment. For instance, vitamin C is most widely used in skincare products for its anti-inflammatory and anti-aging properties. Also vitamin C is also well-known for its skin lightening properties and is widely preferred to treat tan.
Based on application, the market is segmented into skin care, hair care and make-up. Skin care segment dominated the market in 2020 and is expected to experience rapid growth during the estimated timeframe. A surge in the demand for cosmetics such as anti-aging creams, anti-wrinkle creams, moisturizers, and UV protection creams is expected to fuel the growth of the skin care segment.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific is projected to dominate the market over the estimated timeframe. The countries such as China, India and Japan are likely to dominate market in the coming years. Key factors that attributed to the market growth in the APAC region are growing population of countries such as India and China, rising old age population in Japan, improving lifestyle of the people in developing economies, and high disposable income of the people on cosmetics and personal care products.
The major key players of market includes BASF SE, Koninklijke DSM N.V, Wacker Chemie AG, Eastman Chemical Company, Lonza Group, Croda International Plc, Ashland Global Holdings, Evonik Industries AG, SEPPIC, BTSA Biotecnologías Aplicadas, S.L, Kemin Industries, Inc, Barentz International BV, Nutreco N.V, Nexira and Yasho Industries among others.
The study analyses global Cosmetic Antioxidants market based on source, function, type, application and geography. Cosmetic antioxidants market by source is segmented into natural antioxidants and chemically derived antioxidants. The natural antioxidants segment is likely to dominate the market over the forecast period. Increased adoption of natural antioxidants in cosmetics products owing to its several benefits such as is attributed to the market growth. By function, the market is segmented into hair conditioning, anti-aging, anti-inflammatory, UV protection, moisturizing, hair cleansing, and others. By type, the market is segmented into vitamin, carotenoids, enzymes, polyphenols, synthetics, and others. The market finds application in skin care, hair care, and make-up. The skin care segment is likely to register fastest growth in years to come owing to the growing adoption of skin care products by consumers across the globe. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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