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Cosmetic Chemicals Market Size, Share, Growth Drivers and Forecast to 2030
Globally, the sales of cosmetic chemicals were found to be the highest in the Asia-Pacific region during the last few years.
By: P&S Intelligence
Thus, P&S Intelligence expects the cosmetic chemicals market (https://www.psmarketresearch.com/
Further, with time, people have become aware of the ill-effects chemicals can have on the skin, which is why they are going for cosmetics marketed as organic and natural. This is prompting key cosmetics companies as well as chemical firms, such as The Dow Chemical Company, Ashland Inc., Givaudan S.A., Eastman Chemical Company, BASF SE, Lonza Group, LANXESS Deutschland GmbH, Solvay S.A., P&G Chemicals, Evonik Industries AG, Croda International Plc, Cargill Incorporated, and Bayer AG, to engage in extensive research and development (R&D) to come up with products that carry the same functional characteristics as conventional ones, but do not harm the skin.
Asia-Pacific (APAC) is the dominant cosmetic chemicals market across the globe. Although North America and Europe have a higher disposable income and brand awareness, APAC registers the highest cosmetics sales because of its huge population. Therefore, to target the regional populace with cost-effective products, major cosmetics companies have their production plants here, which propels the consumption of the various chemicals that go into such products. Within the region, China is the largest cosmetics chemical consumer as it is home to the factories of many cosmetics manufacturers.
Hence, with the growing cosmetics production, the demand for associated chemicals will boom.