CIPI

Global beauty ingestible market to touch 9.11 bn US$ by 2031

The global beauty ingestible market was valued at US$ 3.29 billion in 2021 and is poised to grow by a CAGR of 11 per cent during the forecast period 2022-2030. The market is projected to be valued at US$ 9.22 billion by 2031 with the Asia-Pacific region being the largest contributor.

The market constitutes nutrients such as vitamins, minerals, collagen, enzymes, and other beneficial ingredients that people consume to maintain and elevate the overall appearance and health of hair, nails and skin.

The massive growth in the market can be attributed to the technological advancements in the realm clubbed with an increased consciousness of people around health and appearance.

Upcycled cosmetic ingredients market on an upward surge

Upcycled cosmetic ingredients are produced by repurposing the waste from different industries, reducing the environmental impact. These are thoroughly processed to ensure they remain safe for use in cosmetics and beauty products.

Examples of upcycled cosmetic ingredients include fruit peels, seed oils, plant material, or ground coffee that can be processed to be used in the beauty industry. These ingredients render a variety of fragrances, textures, or benefits to the products.

Between the forecast period 2024-2031, the market is likely to grow at a CAGR of 6.6 per cent and is poised to touch US$ 433.5 million by 2031.

Global vegan cosmetics predicted to reach 28.5 bn US$

The global vegan cosmetics market, valued at US$ 16.6 billion in 2021, is projected to grow at a CAGR of 5.9 per cent from 2022-2031, reaching a value of US$ 28.5 billion by 2031. Vegan cosmetics are derived entirely from plant-based or chemical-based sources. These neither contain animal products, such as honey, beeswax, collagen, gelatin, amongst others nor are tested on animals.

An increased preference towards organic and vegan products along with an increased resistance towards animal cruelty are the main factors contributing to the growth of this market. While the USA has been the largest contributing country in terms of revenue generation in the industry, the Asia-Pacific region is likely to see the highest growth rate.

PBHJ.