Global Cosmetics and Personal Care Raw Materials Market Size Will Reach $38.12 Billion in 2024

Global Cosmetics and Personal Care Raw Materials Market Overview

According to Global Market Monitor, the global cosmetics and personal care raw materials market size will reach $38.12 billion in 2024 with a CAGR of 7.59% from 2024 to 2029.

Continuously Growing Demand

The downstream of the global cosmetics and personal care raw material market is mainly the manufacturers of cosmetics and skin care products, and the end consumer groups are people who pursue skin care effects and have a demand for cosmetics. With the increase in income, the upgrading of the consumption structure, and the further improvement of the public's aesthetic level, the problem of skin care is not limited to female consumers, and the male consumer group is growing. The expansion of the terminal consumer group has driven the revenue of the downstream cosmetics and skin care market, which is conducive to increasing the orders and business of the cosmetics and personal care raw material industries.

Good Quality is Conducive to the Stability of the Market.

Make-up products directly act on sensitive parts such as the eyes and facial skin of consumers. The quality of the products is directly related to the health of consumers and has attracted the attention of consumers. The use of cosmetic products with insufficient quality may cause discomfort to consumers, and even cause symptoms such as skin allergies. At this time, manufacturers will pay more attention to the quality and actual efficacy of raw materials when purchasing raw materials. This has promoted industry upgrading and market competition in the cosmetics and personal care raw material market, leading to an improvement in the overall quality of raw materials in the industry. Secondly, cosmetics with high brand awareness and good user reputation usually represent excellent product quality, so they can be recognized and trusted by consumers and gain more market share. After consumers use cosmetic products to form consumption habits, they are more sticky to the products. Once downstream end consumers develop consumption habits and brand dependence, the product development of corresponding cosmetics companies will be more stable, which will help ensure the long-term supply of cosmetics and personal care raw materials markets.

BASF is a German chemical company and the largest chemical company in the world. It has more than 160 wholly-owned subsidiaries or joint ventures in 41 countries, countries in Europe, Asia, and North and South America. The production site in Ludwigshafen is also the largest chemical production site in the world.

On April 9, 2024, BASF showcased innovative solutions that accelerate the transition in the personal care industry towards sustainable developments.   These offers are part of BASF’s Care Chemicals Initiative Care 360° – Solutions for Sustainable Life. The integration of Product Carbon Footprints (PCF) into the digital service platform D’lite provides CO2 transparency for the portfolio of cosmetic ingredients. This allows manufacturers to track the greenhouse gas emissions associated with the products they purchase.      

BASF has built its portfolio of ingredients based on natural and renewable feedstock for decades, recently with a strong focus on biopolymers under the Verdessence®brand. The company has so far launched five different ingredients for applications ranging from color cosmetics to hair care.   Given their sustainability profile, natural biopolymers stand out as promising rheology modifiers. 

Company Name	BASF
Website	www.basf.com
Established Time	1985
Plants Distribution	Germany
Sales Region	Worldwide
Competitors	Dow, SABIC, Sinopec