The market is forecasted to be a fast growing market over the next few years in terms of demand in the cosmetic market with revenues increasing by 6 % CAGR during the period 2016 to 2021. Emerging economies and increasing consumer expenditure are the key growth drivers of the market. The South American market for chemicals in cosmetics and toiletries is led by Brazil and Venezuela.
The natural ingredients have been embraced into the mainstream market with the key market players innovating new ingredients and end-product formulations. The anti-aging segment is set to increase as rising beauty treatment costs which indicate that future spending will move away from treatment and toward prevention. Personal care products, such as skin lightening creams, anti-aging creams, and other beauty products exclusively for men, are anticipated to increase. Lack of a single approach to the registration of personal care products hinders growth in South America due to member states having varied regulations.
Market Dynamics of the South American Market for Chemicals in Cosmetics and Toiletries:
Based on their function the chemicals used in cosmetics and toiletries may be broadly divided into specialty additives, processing aids, active ingredients, and other ingredients. The processing aids category includes various solvents and stabilizers, polymers, silicones, emulsifiers, propellants and viscosity control agents. Apart from the general lipid base for skin caring purposes and the lipid and water soluble active agents, a cosmetic product generally lists a variety of further ingredients. They 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 skin, and these effects and the amount of each active ingredient is controlled must be documented by scientific evaluation and approved. Active ingredients include such substances as sunscreen ingredients, skin-lightening agents, benzoyl peroxide, and various plant extracts, oil, waxes, vitamins and proteins.
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 natural ingredient based personal care segment also points to this trend. The National Health Surveillance Agency (ANVISA) of Brazil and various regional and national agencies provide the necessary regulations and standards to be maintained for manufacture, supply and import of cosmetic products.
The report also studies the regional market for analysis on the market size, growth and forecasts; the South American market is segmented into sub-regions (Brazil, Argentina, Venezuela, Colombia, and the Rest of South America) to attain a clearer perspective. The report also offers insights into the financials, recent development and the products & services offered by the various companies in the market. The key players in this market are:
Key Deliverables in the Study: