CIPI

Squalene Market to Grow by USD 64.75 Million Between 2022-2027

The squalene market is projected to progress at a CAGR of 7.36% and is likely to grow to USD 64.75 million by 2027. It is also projected that Europe will contribute to 37% of the global market growth. Squalene, a liquid hydrocarbon with an oily consistency, is found in shark liver and plant sources like rice bran oil and olive oil.

The growth can be attributed to the growing acceptance of UV A/B filters in sun protection products. Furthermore, since squalene has multiple effects, like lubrication, moisturising, and conditioning, the growing trend of multifunctional cosmetics will also be a leading cause of the increase.

The Market for Waterless Cosmetics to Surpass USD 33000 Million by 2033

The market for waterless cosmetics is expected to grow at a CAGR of 13% and is projected to exceed USD 33000 million by 2033. As consumers grow more environmentally conscious, the market stands promising with numerous opportunities for innovation and success. As many brands forgo the use of traditional waterbased cosmetics to save the waterbodies, several new trends have come to the fore. The brands now use ingredients such as plant-based oils and butter, natural clays, and minerals. Another trend that supports this growing market is sustainable, eco-friendly packaging. Brands are shifting their focus towards recycled or biodegradable material to minimise the environmental impact.

Cosmetic Ingredients Market Size to Exceed USD 58.8 Billion by 2031

Covering a variety of ingredients used in cosmetics, such as surfactants, antioxidants, emollients, preservatives, and active ingredients, the cosmetic ingredient market is likely to grow at a CAGR of 5.8% to a value of USD 58.8 billion in the forecast period of 2022-2031.

These ingredients are used to cater to a variety of functions in cosmetics, including cleansing, anti-ageing, moisturising, and UV protection. The market growth can be attributed to the growing consumer awareness of ingredients and their benefits. Furthermore, as the beauty and skincare industry is bound to boom, cosmetic ingredients form an integral part of this growth.