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Cosmetic Chemicals Market to Nearly Grow Two-Fold Amid Rising Preference for Eco-Friendly Cosmetic Products
NEW YORK , Oct. 3, 2022 /PRNewswire/ -- Fact.MR provides a thorough analysis of the worldwide cosmetic chemicals market for the upcoming decade. The research also offers in-depth information on key growth aspects such as trends, opportunities, and key players' strategies. Additionally, the report examines current trends in important regions across several segments, including application and type.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global cosmetic chemicals market is likely to reach US$ 22 Billion by 2022, growing at a CAGR of 6% from 2022-2032. Growing demand for cosmetic chemicals, combined with growing preference for organic chemicals is likely to drive the market during the forecast period (2022-2032).
A key trend observed in the market is the shift away from hazardous chemicals. Taking this into account, the preference of end-users and evolving regulations by governments, key players are investing in developing organic alternatives for the production of grooming and beauty products. It is expected that demand for organic alternatives will create opportunities for new entrants in this market.
Additionally, demand for cosmetic chemicals is the highest in hair and skin care segment. As per Fact.MR, sales of cosmetic chemicals for hair and skin care accounted for nearly 30% of share in 2022, registering 5% CAGR during the forecast period.
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Regionally, North America is one of the largest markets for cosmetic chemicals, and is expected to create sizeable opportunities during the forecast period. The U.S. is expected to account for significant share in North America market over the forecast period. A large cosmetics industry in the country, combined with well-followed guidelines and regulations is likely to create significant growth opportunities for cosmetic chemicals manufacturers.
In addition to this, the U.S. and China are also likely to remain a key market for cosmetic chemicals manufacturers during the assessment period. As per the study, China cosmetic chemicals market is set to grow at a CAGR of 5.7% between 2022 and 2032, and reach a valuation of US$ 7 Billion by 2032.
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Cosmetic chemicals manufacturers are focusing on collaborations with end users to benefit from mutual expertise. Further, they are also investing in organic and natural ingredients to capitalize on growing preference for organic products.
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In its latest study, Fact.MR offers a detailed analysis of the global cosmetic chemicals market for the forecast period of 2022 to 2032. This study also divulges key drivers and trends promoting the sales of cosmetic chemicals through detailed segmentation as follows:
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Sludge Treatment Chemicals Market: From 2022 to 2032, the use of sludge treatment chemicals is projected to increase at a CAGR of 4.4%. The market for chemicals used in sludge treatment is predicted to reach US$ 8.02 Billion by 2032. Due to their affordability, coagulants are becoming more and more used in sludge treatment processes which is expected to drive the market.
Cosmetic Toiletry Chemicals Market: Skin care, sun care, and other seasonal products are in line with the most popular items, while skin tone products are in demand in the market for cosmetics and toiletry chemicals. More than 40% of the overall sales of cosmetics are comprised of skincare items in some regional markets. In addition to skincare products, experimentation with new colour hues for makeup and hair colours is becoming popular in cosmetic toiletry chemicals market.
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