United States Cosmetic Chemicals Market Size, Industry Share, Forecast 2028

By | July 17, 2024
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According to TechSci Research report, “United States Cosmetic Chemicals Market –Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the United States Cosmetic Chemicals Market stood at USD 5.63 billion in 2022 and is anticipated to grow with a CAGR of 5.70% % through 2028. This can be ascribed to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.

Key Market Drivers

Aging Population

The geriatric population in the United States is on the rise. By 2050, the number of Americans aged 65 and older is projected to nearly double, reaching over 83 million people. In 2023, the U.S. Census Bureau reported that 23.4% of the population is above 60 years of age, with 20.7% above 62 years, 16.8% above 65 years, and 6.7% above 75 years. This demographic shift is driving the demand for specialized cosmetic products tailored for older individuals. Ingredients such as hyaluronic acid, retinol, peptides, and various vitamins are in high demand due to their potential to rejuvenate and revitalize aging skin.

Evolving Consumer Preferences

As perceptions of aging evolve, there is a growing demand for cosmetic products that enable older individuals to embrace their beauty and confidence. The cosmetic chemicals market is poised for continued growth, driven by advancements in research, formulation, and marketing strategies that cater to these evolving consumer preferences.

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Government Regulations and Support

The U.S. Food and Drug Administration (FDA) plays a pivotal role in regulating cosmetic chemicals through rigorous evaluation processes, such as pre-market approval and ingredient testing, ensuring safety standards are met. Additionally, the U.S. government has introduced initiatives encouraging the development and use of sustainable and environmentally friendly cosmetic chemicals. Funding for research and development programs aims to advance the science and technology of cosmetic chemicals, stimulating collaboration between academia, industry, and government agencies.

Market Challenges

Supply Chain Disruptions

Disruptions in the supply chain and rising research and development costs are expected to slow market growth in the coming years. Ensuring a steady supply of raw materials and managing production costs are critical challenges for manufacturers.

Cosmetic Chemicals Market [2028] - Trends, Share & Forecast

Market Segmentation

The United States Cosmetic Chemicals Market is segmented by type, application, company, and region.

By Type

  1. Emollients & Moisturizers
  2. Surfactants
  3. Specialty Additives
  4. Thickening Agents
  5. Others

By Application

  1. Skin Care
  2. Hair Care
  3. Color Cosmetics
  4. Toiletries
  5. Oral Care
  6. Nail Care
  7. Others

By Region

Different regions, particularly the Midwest, are projected to exert significant demand for cosmetic chemicals. The presence of well-established companies and increasing productivity are expected to drive market growth in these regions.

Competitive Landscape

Major Companies

  1. BASF Corporation
  2. The Dow Chemical Company
  3. Stepan Company
  4. AkzoNobel Surface Chemistry LLC
  5. Croda, Inc.
  6. Clariant Corporation
  7. Solvay USA, Inc.
  8. Evonik Corporation
  9. Ashland, Inc.
  10. Wacker Chemicals Corporation

Strategic Initiatives

Collaborative research and development efforts are a key growth strategy in the cosmetic chemicals market. By leveraging pooled resources, expertise, and knowledge, companies can address complex scientific challenges, discover novel ingredients, and develop state-of-the-art formulations. For instance, the Fragrance Creators Association has established collaborations with regulatory bodies to enhance ingredient transparency and regulatory compliance.

The United States Cosmetic Chemicals Market is set for substantial growth, driven by an aging population, evolving consumer preferences, and government support for innovation and sustainability. Despite challenges such as supply chain disruptions and rising R&D costs, the market offers significant opportunities for companies willing to innovate and collaborate.

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United States Cosmetic Chemicals Market, By Type (Emollients & Moisturizers, Surfactants, Specialty Additives, Thickening Agents, and Others), By Application (Skin Care, Hair Care, Color Cosmetics, Toiletries, Oral Care, Nail Care and Others), By Region, and Competition, Forecast and Opportunities, 2028F has evaluated the future growth potential of United States Cosmetic Chemicals Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States Cosmetic Chemicals Market

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