Market Trends of Cosmetic Antioxidants Industry
Increasing Usage of Natural Antioxidants in Cosmetics Products
- The growing use of natural antioxidants such as polyphenols, carotenoids, enzymes, synthetic vitamin C, and vitamin E is being increasingly used in the cosmetic industry in various anti-aging creams, which is expected to increase the use of natural oxidants in skin care cosmetic products.
- Natural antioxidants present in plant extracts include polyphenols, flavonoids, flavonols, flavanols, stilbenes, and terpenes (including carotenoids and essential oils).
- US biotech company Debut has raised USD 34 million in Series B, a funding round led by Bold, L'Oreal's corporate venture capital fund that leverages the start-up’s extensive IP portfolio, from which more than 7,000 ingredients to produce complex natural products, such as polyphenols, biopolymers, and natural colors, prized for their high performance, anti-aging, and antioxidant properties.
- Nowadays, premature aging is a major concern among women. The use of antioxidants in beauty care products is estimated to grow. Anti-wrinkle creams and moisturizers are now becoming widely popular.
- In January 2023, Mac Cosmetics announced its plans to launch a new skincare line in the Indian market. This move by the North American beauty brand highlights the growing importance of skincare products in India. It presents an opportunity for Cosmetic antioxidant manufacturers to meet the demands of this expanding segment.
- According to Nykaa, a global online beauty and wellness e-commerce platform, India is on track to overtake several European countries and become the fifth-largest cosmetics market in the world within the next five years.
- Furthermore, there is a growing knowledge of the benefits of natural antioxidants such as polyphenols, which can be helpful for skin healing and rejuvenation. Some of the factors that are expected to boost the global cosmetic antioxidant market include their ability to help reverse indications of aging, such as sunspots, fine lines, and wrinkles, making them a staple in anti-aging treatments.
- Owing to all these factors, the market for Cosmetic Antioxidants is likely to grow globally during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the worldwide market in 2023, with a significant market share in terms of revenue, and is projected to maintain its dominance during the forecast period.
- China, India, and South Korea are expected to be leading countries witnessing strong demand for cosmetic antioxidant consumption during the forecast period.
- The increasing use of high-quality cosmetic products that prevent the skin and hair from the effects of pollution and climate change is driving up demand for antioxidants, fueling the cosmetic antioxidants market.
- China is the world's fastest-growing and most dynamic market. Several cosmetics companies have collaborated with influencers, beauty bloggers, and advertising on TV to increase product sales. Local brands in China provide consumers with low-to-mid-priced cosmetic products, whereas foreign players cater to the high-end segment. Nonetheless, to increase sales, domestic players have started to utilize natural extraction methods in their cosmetic products.
- According to Voguebusiness, the Indian beauty industry, which includes a wide variety of skincare, makeup, and hair products, has grown from USD 12.3 billion in 2018 to USD 15.6 billion in 2022, and it is estimated to be worth around USD 17.4 billion in 2025.
- However, international brands were unable to meet the demand for products suitable for Indian skin types, allowing local companies such as Mama Earth, Khadi Essential, and Sugar Cosmetics to promote their homemade cosmetics and personal care products.
- South Korea has one of the world's most dynamic beauty markets, introducing industry-leading innovations and setting global trends. In order to succeed, the Korean skincare and cosmetics industry is large, fragmented, and highly competitive, with brands constantly researching and developing new products.
- Due to all such factors, the market for cosmetic antioxidants in the region is expected to have a steady growth during the forecast period.
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