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NEWS
Cosmetic active ingredient market ‘to hit $4.3 billion by 2026’
A report by Research and Markets has projected the global market for cosmetic active ingredients to reach $4.3 billion by 2026. That is up from an estimated
$3.5 billion in 2022, equating to a compound annual growth rate of 5.5% over the next four years. The Ireland-based company says
the market for active ingredients in cosmetic products is being fueled by escalating demand for sun protection, anti-ageing and skin whitening products. Further demand is being driven
by the growing interest of male consumers in personal grooming and grooming products. For example, male consumers
are showing increased interest in hair care products such as hair serums.
“Despite their higher cost in
comparison to synthetic materials, natural or organic ingredients are finding favour amidst the increasing consumer focus on health and environment,” said Research and Markets.
“The market is thus benefiting
immensely from growing consumer inclination towards natural and
Brenntag snaps up UK counterpart Prime Surfactants
German chemical distribution outfit Brenntag has acquired British counterpart Prime Surfactants. The company is a leading
distributor of surfactants specialties for the personal care and HI&I (household, industrial & institutional cleaning ingredients) industries in the UK. Founded in 2011, Prime
Surfactants is headquartered in Leeds with estimated sales of around £22m in financial year 2022. “The company has developed
a leading position for surfactants in the personal care market in the UK and is a great addition to our personal care and HI&I business unit of Brenntag Specialties,” said Henri Nejade, member of the management board of Brenntag Group and chief operating officer of Brenntag Specialties. “This acquisition enhances our
product and service offering to customers in the UK and underlines our ambition to further strengthen the specialties business of our focus industries,” he added. Anthony Gerace, senior vice
president M&A for Brenntag Group, said: “Prime Surfactants is dedicated to quality and technical support, has a strong brand recognition and deep-rooted
PERSONAL CARE October 2022
supplier and customer relationships. “We are excited about the fit
within Brenntag Specialties and look forward to jointly leveraging these impressive capabilities.” In a related development,
Brenntag Specialties has entered into an expanded distribution agreement with ISCA focused on cosmetic preservatives for several markets in Europe. Following a successful
collaboration with ISCA in the UK, Brenntag has widened its collaboration with the preservatives producer to include Germany, France, Benelux, Switzerland, Poland, Slovakia, Croatia, Slovenia and the Nordic region. The ISCA product range includes antibacterial additives, multifunctional and preservative free antimicrobials, parabens as well as paraben-free liquid blends.
www.personalcaremagazine.com
active cosmetic ingredients, which is spurring demand for products such as botanical extracts, enzymes and amino acids,” it added. Meanwhile, the vegan cosmetics
products market is expected to expand at a compound annual growth rate (CAGR) of 6% between 2022 and 2028 as millennials opt for animal cruelty-free products, according to a report published by
Fact.MR. Europe is anticipated to overtake
Asia as the largest market for vegan cosmetic products during that period, while the Middle East and Africa are predicted to have the highest growth rate. The global vegan cosmetic
products market grew at a CAGR of about 4% between 2013 and 2017.
The demand for vegan cosmetic
products is expected to grow significantly as consumers seek out cruelty-free and plant-based goods. In terms of product type, the
skin care and hair care segment will witness prolific growth over the upcoming decade, the Vegan Beauty Products Market report states. “Consumers are showing a
notable aversion to beauty products that include chemicals and are drawn to those that are marketed as ‘natural’ and ‘safe.’ This is anticipated to further encourage the use of vegan cosmetic products,” it added. “Customers are choosing items
that are ecologically friendly. This is creating excellent conditions for the widespread use of vegan cosmetic products.”
Kumar Organic Products pops cork on Singapore lab
Indian speciality ingredients supplier Kumar Organic Products has inaugurated an applied lab in Science Park Road, Singapore. Kumar says the lab has been
created to help satisfy customer requirements in the Asia-Pacific region where it supplies around 50 ingredients used in various personal care and other products. “This lab is full-fledged with
formulation and analytical facility to take care of any requirement of customer, be it analytical or formulation related,” the company said.
“This lab can also be used to analyze marketed samples
and to analyze various products that is offered in the market using modern instruments like Gas chromatograph, IR spectrophotometer etc.,” it added. Kumar Organic has had a sales
office in Singapore since 2010, selling to Australia, Japan and China plus other countries. “This applied lab will be used to
support sales function in the region by formulating products with these ingredients to support customer with formulation, if required,” the company said. “We can develop skin care, hair
care, oral care and colour cosmetics and food.”
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