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Future Growth Potential Enhanced by Opportunities in Sustainable Cosmeceutical Ingredients
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Cosmeceutical ingredients are ingredients with pharmaceutical value. Examples are antioxidants like vitamins and carotenoids used in aging creams which reduce skin aging. This study is segmented on the basis of ingredients (collagen, hyaluronic acid, vitamins, carotenoids, and others) and application (skincare, and hair & nail care). Cosmeceutical ingredients have gained traction owing to their ability to improve appearance by delivering essential nutrients required for healthy skin, thus ensuring deep skincare. Moreover, demographic factors including increasing women workforce participation, regional beauty trends, and an aging population have reflected in an increase in demand for specific products including anti-acne, anti-aging, and skin-lightening creams, which drives the demand for cosmeceutical ingredients. However, the lack of immediate visible effects has made the use of cosmeceutical products and ingredients challenging. Most collagen-based products are derived from animal sources. However, with a considerable increase in the number of plant-based eaters, and with concerns over contamination, the demand for vegan collagen has increased. Considering its use as a moisturizing agent and its ability to delay aging, hyaluronic acid is expected to witness stable demand globally. The trend of vitamin-fortified cosmetic topical solutions has also gained popularity in countries like the United States and the United Kingdom owing to their ability to offer long-lasting and skin-deep benefits. Consumers today are more aware of the composition, benefits, and possible side effects of the ingredients used in the cosmeceutical products. As a result, the demand for naturally derived cosmeceutical ingredients such as carotenoids has multiplied. This shift in consumer preference has led carotenoid manufacturers to develop 100% natural ingredients. Polyphenols and flavonoids are antioxidants that are included in other cosmeceutical ingredients category. The most common examples of flavonoids incorporated in cosmetic products include curcumin, pycnogel, and gingko. Pycnogel has emerged as an effective anti-ageing ingredient as it demonstrates no allergenicity or toxicity. The skincare application segment has witnessed an increase in the number of ingredient launches as well as innovations which in turn has helped it to record the highest growth rate. Cosmeceutical ingredients used in hair care applications encourage hair growth and improve hair nutrition while nail care cosmeceuticals keep the cuticles and nails healthy. Vitamins like niacin and biotin are mostly used in these applications. The hair care segment has fewer ingredient launches and innovations compared to the skin care segment, and so grows at a slower rate.
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