Global Bio-based Cosmetics and Personal Care Ingredients Market Size Set to Cross USD 7 Billion by 2029

Published | 09 May 2023

Global bio-based cosmetics and personal care ingredients market is flourishing because of rising concerns about the environmental impact of chemical-based personal care products, increasing consumer awareness regarding the benefits of using bio-based products, and high disposable income and changing lifestyles of consumers.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global bio-based cosmetics and personal care ingredients market size at USD 4,887.55 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global bio-based cosmetics and personal care ingredients market size to grow at a steady CAGR of 4.48% reaching a value of USD 7,048.25 million by 2029. Major growth drivers for global bio-based cosmetics and personal care ingredients market include growing industrial automation and investment capacities of industrial customers in increasing demand for natural and sustainable products, as well as the increasing awareness about the harmful effects of synthetic chemicals used in cosmetics and personal care products. Consumers are becoming more conscious about the impact of their choices on the environment and are looking for natural and sustainable products. Bio-based cosmetics and personal care ingredients are derived from renewable resources and are considered more sustainable and environmentally friendly than their synthetic counterparts. The clean beauty movement emphasizes the use of natural, non-toxic, and eco-friendly products coupled with rising disposable income in emerging economies are driving demand for premium cosmetics and personal care products, including those made from bio-based ingredients.

Global Bio-Based Cosmetics and Personal Care Ingredients Market – Overview

Bio-based cosmetics and personal care ingredients are ingredients that are derived from renewable resources, such as plants, algae, and microorganisms. These ingredients are considered more sustainable and environmentally friendly compared to their synthetic counterparts, as they have a lower environmental impact and are biodegradable. Bio-based ingredients offer a range of benefits for the skin and hair, such as hydration, anti-aging, and anti-inflammatory properties. They are used in a variety of personal care and cosmetic products, including skin care, hair care, makeup, and fragrances. Bio-based cosmetics and personal care ingredients are becoming increasingly popular due to the growing demand for natural and sustainable products, as well as the increasing awareness about the harmful effects of synthetic chemicals used in cosmetics and personal care products.

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Impact of COVID-19 on Global Bio-Based Cosmetics and Personal Care Ingredients Market

COVID-19 pandemic had a dual impact on the global bio-based cosmetics and personal care ingredients market. While supply chain disruptions caused delays in the production and distribution of raw materials, leading to some shortages and increased prices, the pandemic also led to a shift in consumer preferences toward natural and sustainable products. It resulted in an increased demand for bio-based cosmetics and personal care ingredients, as consumers become more conscious of the impact of their choices on the environment and their health. Also, the pandemic highlighted the importance of clean beauty and personal hygiene, leading to an increased demand for bio-based ingredients in personal care and hygiene products.

Global Bio-Based Cosmetics and Personal Care Ingredients Market – By Application

Based on application, global bio-based cosmetics and personal care ingredients market is divided into Skin & Sun Care, Hair Care, Make-up, Color Cosmetics, and Fragrances segments. The skin & sun care segment dominates the global bio-based cosmetics and personal care ingredients market, due to the increasing demand for natural and safe products. Bio-based ingredients used in skin and sun care products are considered safer and more sustainable alternatives to synthetic ingredients, appealing to consumers who are concerned about the impact of synthetic chemicals on their skin and health. Consumers are paying more attention to skin protection with increasing awareness of the harmful effects of UV radiation, and bio-based ingredients in sun care products, such as natural UV filters, offer effective sun protection while being safe and eco-friendly. Moreover, bio-based ingredients in skin & sun care products offer multiple benefits, such as moisturizing, anti-aging, and skin brightening effects, making them a popular choice among consumers.

Competitive Landscape

Major players operating in global bio-based cosmetics and personal care ingredients market include BASF SE, Clariant International Ltd., Croda International Plc, Dow Inc., Eastman Chemical Company, Evonik Industries AG, Givaudan SA, International Flavors & Fragrances Inc., Koninklijke DSM N.V., L'Oreal S.A., Lonza Group AG, Royal DSM N.V., Symrise AG, The Lubrizol Corporation, and Wacker Chemie AG. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Bio-Based Cosmetics and Personal Care Ingredients Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Bio-Based Cosmetics and Personal Care Ingredients Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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