A report by Research and Markets has projected the global market for cosmetic active ingredients to reach $4.3 billion by 2026.
That is up from an estimated $3.5 billion in 2022, equating to a compound annual growth rate of 5.5% over the next four years.
The Ireland-based company says the market for active ingredients in cosmetic products is being fueled by escalating demand for sun protection, anti-ageing and skin whitening products.
Further demand is being driven by the growing interest of male consumers in personal grooming and grooming products.
For example, male consumers are showing increased interest in hair care products such as hair serums.
“Despite their higher cost in comparison to synthetic materials, natural or organic ingredients are finding favour amidst the increasing consumer focus on health and environment,” said Research and Markets.
“The market is thus benefiting immensely from growing consumer inclination towards natural and active cosmetic ingredients, which is spurring demand for products such as botanical extracts, enzymes and amino acids,” it added.
