The cosmetic antioxidants market size is projected to reach USD 158 million by 2025 from USD 119 million in 2020, at a CAGR of 5.9%. The growth of the cosmetic antioxidants market is primarily triggered by growing demand for anti-aging cosmetic products. Aging is a natural phenomenon; however, the consumption of antioxidants can slow down the aging process. The aging population is one of the largest consumers of cosmetic products. With the growing aging population around the world, anti-aging skincare products are in high demand.
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Vitamins is the largest type of cosmetic antioxidants market.
Vitamins accounted for the largest share of the overall cosmetic antioxidants market, in terms of value, in 2019. Vitamins are used in various cosmetics products. Their positive effect on the human skin is a major driving factor. Enzymes was the second-largest type segment followed by polyphenols and carotenoids.
Skin care is estimated to be the largest application of the cosmetic antioxidants market during the forecast period.
Skin care application accounted for the maximum share in 2019, in the overall market, followed by hair care. The growth of the skincare application segment of the cosmetic antioxidants market can be attributed to the increased demand for cosmetic products that have anti-aging, anti-wrinkle, UV protection, and moisturizing properties.
Hair conditioning is estimated to be the largest function of the cosmetic antioxidants market during the forecast period.
Hair conditioning accounted for the largest share of 17% in terms of value in 2019. The segment is expected to register a CAGR of 5.9% between 2020 and 2025. The growth of this segment can be attributed to the global demand for hair care products to improve hair quality and hair growth. Anti-aging was the second-largest function of cosmetic antioxidants followed by hair cleaning and moisturizing.
APAC is estimated to be the largest market for cosmetic antioxidants during the forecast period.
Among the various regions, APAC accounted for the largest share of the cosmetic antioxidants market in 2019. This region has a large base of young population who spend more on skincare and decorative cosmetic products. In addition, countries across the region are lenient toward the imposition of regulations with respect to cosmetic ingredients. Countries such as China and India are highly populated economies with rising preference for personal care and beauty enhancement products.
The key market players profiled in the report include as BASF SE (Germany), Koninklijke DSM N.V. (Netherlands), Wacker Chemie AG (Germany), Eastman Chemical Company (US), Lonza Group (Switzerland), Croda International Plc (UK), Ashland Global Holdings (US), Evonik Industries AG (Germany), SEPPIC (France), BTSA Biotecnologías Aplicadas, S.L. (Spain), Kemin Industries, Inc. (US), and Barentz International BV (Netherlands) among others.
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