Bio-based Cosmetics Market (Source - Plant, Animal, Microbes, and Others; Product Type - Cream, Lotion, Serum, Shampoo, Fragrance, and Others; Material - Vitamin and Derivatives, Peptides, Ceramides, Potassium Sorbate, and Others; Application - Skin Care, Hair Care, Body Care, and Others; Distribution Channel - Supermarkets/Hypermarkets, Retail Stores, Beauty Parlours/Salons, and Online): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report published by Infinium Global Research on bio-based cosmetics market provides in-depth analysis of segments and sub-segments in the global as well as regional bio-based cosmetics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional bio-based cosmetics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global bio-based cosmetics market.

Market Insight:

The global bio-based cosmetics market was valued at USD 4,936.03 million in 2022 and is expected to reach USD 7,924.73 million in 2030, with a CAGR of 6.25% during the forecast period 2023-2030.

Bio-based cosmetics are formulations that incorporate ingredients derived from renewable sources such as plants, algae, and microorganisms. These natural constituents distinguish themselves by their superior sustainability and environmental friendliness compared to synthetic counterparts, boasting a reduced environmental impact and inherent biodegradability. The appeal of bio-based ingredients extends beyond their eco-friendly credentials; they offer a myriad of benefits for skin and hair, including hydration, anti-aging properties, and anti-inflammatory attributes. Bio-based cosmetics are available in various categories such as skincare, hair care, makeup, and fragrances, bio-based cosmetics are gaining immense popularity. This surge is attributed to the escalating consumer demand for products that are both natural and sustainable, driven by an increased awareness of the detrimental effects associated with synthetic chemicals prevalent in conventional cosmetics. The market response to this demand has witnessed a proliferation of bio-based cosmetic offerings, reflecting a broader shift towards eco-conscious and health-conscious consumer choices. As consumers increasingly prioritize products that align with their values of sustainability and environmental responsibility, the bio-based cosmetics market is poised for continued growth, meeting the evolving needs and preferences of a conscientious consumer base.

The bio-based cosmetics market is poised for growth due to the simultaneous rise in disposable income and population. As more individuals experience increased purchasing power, there is a growing demand for sustainable and natural beauty products. Bio-based cosmetics, derived from organic and renewable sources, align with consumer preferences for eco-friendly options. The expanding population further amplifies this trend, presenting a lucrative market for environmentally conscious beauty solutions. This intersection of rising disposable income and a larger consumer base fosters a favorable environment for the growth of the bio-based cosmetics market, as consumers prioritize both personal well-being and environmental sustainability. Additionally, the bio-based industry is growing significantly due to increased consumer awareness and preferences for natural ingredients in cosmetic products. Consumers are opting for creams, serums, and moisturizers enriched with natural additives, driven by the desire to avoid harmful effects associated with synthetic products. The demand for bio-based cosmetics is rising as they are perceived to have fewer adverse effects on the skin, and their production has a minimal environmental footprint. Bio-based products, being made from natural ingredients, do not contribute to soil or water pollution, unlike some chemical-heavy alternatives. This shift towards sustainable and environmentally friendly options is expected to boost revenue growth in the bio-based cosmetic market. However, the growth of the bio-based cosmetic market is hindered by the high cost of bio-derived products, especially in developing economies. Economic barriers and expensive processing methods contribute to the elevated costs, impeding market expansion. Strategic interventions are essential to address these challenges and unlock the full potential of the bio-based cosmetic industry. Although, the increasing investment in research and development (R&D) is anticipated to propel the expansion of the bio-based cosmetics market. Significant players in the cosmetic and biotechnology sectors are actively engaged in formulating innovative bio-based polymers and ingredients to enhance the overall landscape of cosmetic product development, contributing to the market's revenue growth. Notably, BASF Care Creations unveiled the groundbreaking biopolymer, Verdessence RiceTouch, to the global market on June 30, 2022. This introduction exemplifies the industry's commitment to introducing novel and sustainable solutions. As research endeavors persist in advancing, the bio-based cosmetics market is set to experience continual growth, providing a lucrative environment for businesses involved in the development of bio-based cosmetic products. The evolving landscape holds promising prospects for companies navigating the realm of bio-based cosmetics.

Geographically, the bio-based cosmetics market is segmented into North America, Europe, Asia Pacific and Rest of the world. North America holds the largest market share in the bio-based cosmetics market experiencing significant growth driven by a consumer shift towards sustainable and environmentally friendly beauty products. In the United States, heightened awareness of the potential environmental and health impacts of traditional cosmetic ingredients is steering consumers towards bio-based alternatives. Regulatory support, technological advancements, and a commitment to eco-friendly practices further contribute to the thriving market. In Canada, a growing demand for sustainable and ethical beauty products is propelling the bio-based cosmetics market. Moreover, Asia Pacific is the fastest growing region in the bio-based cosmetics market. China's bio-based cosmetics market experiences rapid growth driven by increased health awareness, changing consumer preferences, and a growing middle class with higher disposable income. E-commerce and digital platforms play a significant role in accelerating market expansion. Also, countries such as India, Japan, and South Korea played pivotal roles in fostering the expansion of the bio-based cosmetics market, with a thriving beauty culture and a heightened focus on environmentally conscious choices.

Report Scope of the Bio-based Cosmetics Market:

Segment Covered

The report on global bio-based cosmetics market covers segments such as source, product type, material, applications, and distribution channel. On the basis of source, the sub-markets include plant, animal, microbes, and others. On the basis of product type, the sub-markets include cream, lotion, serum, shampoo, fragrance, and others. On the basis of material, the sub-markets include vitamin and derivatives, peptides, ceramides, potassium sorbate, and others. On the basis of applications, the sub-markets include skin care, hair care, body care, and others. On the basis of distribution channel, the sub-markets include supermarkets/hypermarkets, retail stores, beauty parlours/salons, and online.

Companies Profiled:

The report provides profiles of the companies in the market such as Johnson & Johnson Consumer Inc. (Aveeno), Weleda, Tata Harper Skincare, Dr. Hauschka Skin Care, The Estée Lauder Companies Inc. (Aveda), The Clorox Company (Burt’s Bees), Korres, LOTUS HERBALS, Natura &Co. (The Body Shop), and DSM.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the bio-based cosmetics market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.