Market Overview
Antioxidants are natural substance made up of vitamins and minerals that play an important role in superior skin ageing products. Antioxidants neutralize free radicals that are produced by street air, sunlight, auto pollution, and other environmental factors. In cosmetic industry, they are used to prevent aging, by avoiding damage to the cells. Cosmetic antioxidants create a barrier on the skin to prevent it from the harsh environment and ultraviolet infrared rays. It is also added in cosmetics to preserve the formulations and increase their shelf life.
Based on source, the global cosmetic antioxidant market is categorized into natural antioxidant and chemically derived antioxidants. Natural oxidants are further classified into vitamin E, vitamin C, vitamin A, carotenoids, polyphenols, and enzymes. The natural antioxidant category is expected to register higher growth, owing to the growing demand for organic and herbal cosmetic products, globally.
Based on the function, the global cosmetic antioxidants market is categorized into hair conditioning, anti-ageing, hair cleansing, moisturizing, UV protection, anti-inflammatory, and others. During the forecast period, hair conditioning category is expected to lead the market, which can be attributed to the increasing demand of hair related products to maintain hair quality is resulting in the increasing demand of these antioxidants in the market.
On the basis of application, the global cosmetic antioxidants market is categorized into skin care, hair care, and makeup. The skin care segment held the largest share in the market and also expected to lead the market in the coming years. This can be attributed to high adoption rate of skin care products, such as anti-aging creams and anti-wrinkle creams, for the skin protection.
Market Dynamics
Trend
The increasing use of natural antioxidants in cosmetic products has expanded market prospects. With premature aging being a growing concern, the market is experiencing a robust fillip which is leading to the higher consumption of these cosmetics products. Hence, the significant increase in adoption of anti-wrinkle creams and lotions to overcome aging is forming a major trend in the cosmetic antioxidants market.
Drivers
The major growth drivers identified in the cosmetic antioxidants market are increasing ageing population, rise in awareness regarding availability of such products, and growing demand from emerging countries. Cosmetic antioxidants protect the skin from exposure to UV or other external aggressions. Also, these strengthen the skin’s endogenous protection and prevents oxidative damage. These properties of these antioxidants are increasing its demand among all populations and thus fuelling the market growth.
Restraints
The major restraint identified in the cosmetic antioxidants market is the high cost of natural antioxidants and growing concerns regarding the use of synthetic antioxidants.
Rising demand of skin care products from male customers is expected to create growth opportunity for industry players operating in the cosmetic antioxidants market. With the growing awareness, even males have started paying attention to their looks, skin, hair and other aspects, which is opening avenues for the players operating in the cosmetic industry to cater customers demand.
Insights by geography
APAC is the largest consumer of cosmetic antioxidants in the market and expected to register the highest growth in the market. This can be attributed to the increasing population, increasing purchasing power of consumers, increasing awareness are the key factors driving the growth of the market in the region.
Competitive Landscape
Some of the major players operating in the global cosmetic antioxidants market are BASF SE, Croda International PLC, Lonza Group, Eastman Chemical Company, SEPPIC, Wacker Chemie AG, Evonik Dr. Straetmans GmbH, Kemin Industries Inc., Merck KGaA, and Koninklijke DSM N.V.
