India Cosmetic Chemicals Market to Grow with a CAGR of 4.15% through 2029
Growth in research and development activities is
expected to drive the India Cosmetic Chemicals Market growth in the forecast
period, 2025-2029.
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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