As per the upcycled cosmetic ingredients industry analysis, The upcycled cosmetic ingredients market analysis is done on the basis of application and region.
— Roshan Deshmukh
5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, October 5, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Upcycled Cosmetic Ingredients Market,” The upcycled cosmetic ingredients market size was valued at $231.48 million in 2021, and is estimated to reach $433.5 million by 2031, growing at a CAGR of 6.6% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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There is an increase in food waste being repurposed as basic ingredients in the cosmetics industry. The coronavirus pandemic has disrupted supply networks for cosmetic chemicals, providing additional impetus to the organization. According to AMR analysis, as the cosmetics industry develops goods for a circular economy and shifts to regional supply chains for raw ingredients, the adoption rate of upcycled ingredients is projected to rise. Food by-products, also known as food side streams, are already recognized as a natural component source. Many cosmetic and personal care products contain certain ingredients, such as palm kernel oil. Consumer demand for natural and organic personal care products has increased the demand for such raw materials. Other important upcycled cosmetic ingredients market trends are sustainability and preference for natural ingredients, with cosmetic and ingredient companies promising to incorporate more plant-based and natural ingredients into their cosmetic formulations.
The demand for new crops of botanicals used as cosmetic ingredients, as well as the costs associated with their production, processing, and packaging, can be reduced by using by-products. Monocultures used in the cosmetics industry can be resource-intensive and harmful to biodiversity. Producing rose essential oils, for example, may be considered unsustainable because it takes 5 tons of rose petals to produce 1 kilogram of oil. Although the process of upcycling ingredients requires the use of energy, water, and other resources, it can be done in a sustainable manner. Extensive research is usually carried out to trace their origins and the morality of their production from farm to the supplier before purchasing upcycled ingredients. As a result, unsustainable methods of obtaining the ingredient may hamper the upcycled cosmetic ingredients market growth.
The upcycled cosmetic ingredients market analysis is done on the basis of application and region. On the basis of application, the upcycled cosmetics ingredient are classified into skin care, hair care, and color cosmetics. On the basis of region, the market is divided across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and Rest of LAMEA).
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Based on applications, the skincare segment has garnered the major share in 2021, generating nearly half of the global upcycled cosmetic ingredients market revenue, and is anticipated to grow by 2031. This is because upcycled ingredients like coffee grounds, seed oils, nutshell powders, fruit peel powders, and extracts are extensively being used in recent years for the production of skincare products. The haircare segment, on the other hand, would display the fastest CAGR of 7.37 % throughout the forecast period.
The growth is attributed to an increase in the use of fruit peel extracts and fruit seed extracts in the development of shampoos and conditioners to reduce synthetic ingredients in shampoos while also providing additional benefits to the hair. Newer innovations in products such as hair scrubs and hair masks rise the demand for natural ingredients in hair care products, which increases the demand for upcycled ingredients in hair care product production. The report also analyzes the color cosmetics segment.
By region, North America accounted for the highest share in 2021, holding more than two-fifths of the global upcycled cosmetic ingredients market revenue and is projected to rule the roost by 2031. This is because the U.S. has several manufacturers of cosmetics with many of them operating at the international level. Furthermore, there is a prevalence of several smaller manufacturers in the region that use locally sourced ingredients as well as natural ingredients to formulate their products. LAMEA, simultaneously, would portray the fastest CAGR of 7.35% from 2022 to 2031. There is an increase in demand for high-quality products in the LAMEA region, owing to a rise in the middle-class population. The report also analyzes Europe and Asia-Pacific regions.
The players operating in the upcycled cosmetic ingredients market have adopted various developmental strategies to increase their Givaudan, Symrise, Cargill, OLVEA, Mibelle Biochemistry, P2 Science, Inc., Rahn AG, Hair O’right International Corporation, Lignopure, and SOPHIM IBERIA S.L.
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Key Benefits For Stakeholders:
○ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the upcycled cosmetic ingredients market analysis from 2021 to 2031 to identify the prevailing upcycled cosmetic ingredients market opportunities.
○ The market research is offered along with information related to key drivers, restraints, and opportunities.
○ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
○ In-depth analysis of the upcycled cosmetic ingredients market segmentation assists to determine the prevailing market opportunities.
○ Major countries in each region are mapped according to their revenue contribution to the global market.
○ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
○ The report includes the analysis of the regional as well as global upcycled cosmetic ingredients market trends, key players, market segments, application areas, and market growth strategies.
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