Europe constitutes the largest market for cosmetics and cosmetic chemicals and in 2015 accounted for a CAGR of 3.9%. The five largest national markets Germany, France, the United Kingdom, Italy and Spain account for more than 70% of the market for cosmetics in Europe. This was due to the strong economic recovery in many EU countries, a faster pace of life and an aging population. Skin care and hair care chemicals constitute the two largest categories and in 2015 accounted for 50% of the total market. The key trends are the rising shift towards natural ingredients, male grooming, higher-priced & value-added products, increasing penetration of private labels and development of a handful of key brands by leading companies.
A cosmetic product generally lists a variety of further ingredients besides the general lipid base for skin caring purposes and the lipid and water soluble active agents. The ingredients may be categorized under the term "special additives" and have various functions, they are perfumes, antioxidants, conditioning agents, alcohols, water (aqua), preservatives, thickeners and colorants. The active ingredient is a cosmetic, drug, or pharmaceutical ingredient that must adhere to specific regulations. Active ingredients are considered to have a pharmacological altering effect on the skin and these effects and the amount of each active ingredient is controlled and must be documented by scientific evaluation and approved. Active ingredients include substances such as sunscreen ingredients, skin-lightening agents, benzoyl peroxide, and various plant extracts, oil, waxes, vitamins and proteins.
Market Dynamics of the European Market for Chemicals in Cosmetics and Toiletries:
The concern about pollution and biodegradability of the products is a growing trend both from government agencies and buyers. In water bodies, non-degradable chemical concentration is bio magnified at each tropic level. Plastic micro beads which act as scrubbing and exfoliating agents have been accused of causing harm to life in water bodies and are under pressure for being phased out. The high growth rate of the natural ingredient based personal care segment also points to this trend.
The European chemicals in cosmetics and toiletries market can be segmented based on chemical type (active ingredients, processing aids, specialty additives and other ingredients), on end product industry (chemicals in skin care products, chemicals in hair care products, chemicals in bath and shower products, chemicals in hair care products, in oral hygiene products, in personal hygiene products, in fragrance products and baby care products) and on geography (North America, Europe, Asia-Pacific, South America). The key players in this market are:
Key Deliverables in the Study: