Bio-Based Cosmetics and Personal Care Ingredients Report Coverage

Posted by BIS RSRCH on March 13th, 2020

The cosmetics and personal care sector is a key industry that contributes considerably to the world’s gross domestic product (GDP). Cosmetics can be chemically synthesized or naturally derived. With growing awareness of the potential side-effects of synthetic ingredients in cosmetics, the demand for cleaner and greener products increased rapidly in the past few years. The consumer inclination toward healthier lifestyles and products which have a minimal effect on the environment are among the key drivers of the growth of bio-based ingredients for cosmetics and personal care. In addition, increased per capita income, changing consumer lifestyles in the developing countries, along with rising awareness about beautification are also contributing to the development of the overall cosmetics industry, which in turn benefits the bio-based cosmetic ingredients manufacturers.

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The consumer demand for natural products, along with bio-based products derived from oils and fats, has resulted in a rapid growth of the bio-based cosmetics and personal care ingredients market. The primary factor for the increasing adoption of bio-based ingredients for cosmetic products is the harmful effects of chemical products, therefore leading to consumers showcasing an inclination toward products that contain bio-based ingredients. As a result, cosmetics companies are consequently substituting synthetic chemicals with bio-based ingredients. In 2013, L’Oreal, one of the largest cosmetics companies launched Sharing Beauty With All to improve sustainability from sourcing and manufacturing to packaging, hence lowering its environmental footprints. Almost 22% of the company’s products are derived from renewable plant sources such as quinoa, mainly used in skin exfoliating products. Bio-based cosmetics products provide a sustainable alternative to petroleum-based products and help lessen the amount of carbon dioxide in the atmosphere.

Five major cosmetics categories including foundation, face cream, lipstick, mascara, and blush/bronzer contain at least one high risk commodity which has an ill-effect on health. For example, vanilla is a popular ingredient in lipstick, but it contains high risk of cancer and allergic reactions. About 30% of ingredients used in ordinary cosmetic products come from agricultural or mined commodities. Various ingredients are derived from mines, including tin, zinc, and copper, all of which contains high chemical risk.
 
An increase in health concerns and a significant growth in the green technology concept is leading to the substitution of synthetic products such as aluminum salts, phthalates, parabens, and petrochemical, which are contaminated and harmful to health. In addition, growing popularity of cosmetic products such as skin whitening cream, moisturizing lotions, facial wipes, sunscreen lotion, and deodorants is expected to create growth opportunity for bio-based cosmetics and personal care ingredients market during the forecast period, 2019-2029.

Growth of sales channels along with a growing number of male consumers demanding for skin care products such as lotions and creams have contributed to the growth of the market. However, the key potential consumers for bio-based cosmetics and personal care products are females aged between 19 and 35. Moreover, the population of ages between 19-25 offer major opportunities to bio-based products due to greater brand loyalty, early adaptability to new trends, less price sensitivity, and use of social networks and information technologies to get consciousness on new bio-based products. Department stores, specialized stores, online, drug store chains, and retailers are currently the most vital channels of distribution.

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However, cost associated with procurement and processing of bio-based raw materials is higher than that for synthetic chemical-based ingredients. Key cost additions involve higher cost of raw materials (generally a higher concentration is needed than synthetic ingredients to offer the required efficacy) and operational cost, owing to the extra downstream processing required to ensure purity and efficacy of bio-based ingredients.