According to TechSci Research report, “India Cosmetic Chemicals Market– By Region, Competition, Forecast and Opportunities, 2019-2029”, the India Cosmetic Chemicals Market stood at USD1.02 billion in 2023 and is anticipated to grow with a CAGR of 4.15% in the forecast period, 2024-2029. Initiatives taken by government based on cosmetic chemicals has led to favorable market conditions for the India Cosmetic Chemicals Market. Several factors contribute to the growth of various cosmetic chemicals products. The Centre for Science and Environment (CSE), a leading research institution, recently conducted an extensive study to evaluate the presence of toxic chemicals in 73 cosmetic products across four different categories. This groundbreaking study sheds light on the pressing need for more robust legislation to regulate the use of chemicals in cosmetics, ensuring the safety and well-being of consumers.
Recognizing the importance of transparency and accountability, the government has taken proactive measures by implementing rules that require the identification of ingredient sources, manufacturing origins, and claimed benefits of cosmetic products. These regulations aim to provide consumers with crucial information to make informed choices about the products they use on their bodies.
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One of the key factors contributing to the remarkable growth of the cosmetic chemicals market is the significant rise in research and development (R&D) activities focused on product innovation. These dedicated efforts not only aim to enhance the overall quality of cosmetic products but also strive to make them more sustainable and consumer-friendly. Through extensive R&D initiatives, advanced cosmetic chemicals have been developed to address specific skin and hair needs. These cutting-edge formulations are tailored to provide effective solutions, catering to various concerns such as moisturization, anti-aging, and UV protection. Moreover, these innovative ingredients enable cosmetic companies to comply with stringent regulatory requirements, ensuring the safety and efficacy of their products.
Furthermore, the continuous investment in R&D drives the industry towards meeting the evolving preferences of consumers. With the growing demand for natural and organic products, cosmetic chemical research focuses on developing eco-friendly alternatives that minimize the environmental impact while delivering the desired results. This commitment to sustainability allows consumers to choose products that align with their values and contribute to a greener future.
The India Cosmetic Chemicals Market is segmented into type, application, regional distribution, and company. Based on its type, the emollients & moisturizers segment held the largest market share in the forecast period. In recent years, there has been a significant shift in the mindset of Indians towards skincare, as they are becoming more conscious of the need to take care of their skin. This heightened awareness has resulted in a surge in the demand for skincare products, particularly moisturizers and emollients. Indians are now prioritizing their skin health and seeking effective solutions to combat the effects of changing lifestyles, such as urbanization and increased exposure to pollution. As a result, the market for emollients and moisturizers continues to grow, catering to the evolving needs of individuals who are looking for reliable and quality skincare options to maintain and enhance their skin’s health and appearance.
Based on region, West India segment is expected to grow during the forecast period. West India, renowned for its vibrant cosmetic chemical industry, holds a significant position as a major exporter. Contributing to over 50% of India’s total exports, this region has witnessed remarkable growth and development. The success of the cosmetic chemical industry in West India is fueled not only by its strong export base but also by the soaring domestic demand. Factors such as rapid urbanization, increasing disposable incomes, and a growing awareness of personal care and grooming have propelled the demand for cosmetic chemicals in this dynamic region. With its thriving industry and a multitude of factors driving its growth, West India continues to be a prominent player in the global cosmetic chemical market.
Major companies operating in India Cosmetic Chemicals Market are:
- BASF India Ltd.
- Dow Chemical International Pvt. Ltd.
- Evonik India Private Limited
- Meru Chem Pvt. Ltd.
- Basell Polyolefins India Pvt. Ltd.
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“Growing application of cosmetic chemicals in various end user industries are key drivers of the cosmetic chemicals market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of cosmetic chemicals with every passing year are anticipated to register an impressive grow to India Cosmetic Chemicals Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“India Cosmetic Chemicals Market By Type (Emollients & Moisturizers, Surfactants, Specialty Additives, Thickening Agents, and Others), By Application (Skin Care, Hair Care, Oral Care, Fragrances, Others), By Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated the future growth potential of India Cosmetic Chemicals Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Cosmetic Chemicals Market.
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