The introduction and proliferation of bio-based ingredients in several industries, such as food and beverage, pharmaceuticals, and cosmetics, has been transforming the manufacturing landscape since 2000. Growing consumer inclination toward the adoption of bio-based products due to rising health and environmental concerns is driving the demand for bio-based ingredients in the cosmetics and personal care products. Besides, awareness among consumers regarding the harmful effects of synthetic ingredients chemicals has grown rapidly over the past years. In addition, the availability of green raw materials has also urged large cosmetic firms to develop bio-based cosmetic products.
However,
limited availability of raw material, due to erratic weather conditions
and stringent environmental regulations, can pose substantial hurdles
in the production of bio-based ingredients. Thus, leading companies have
been focusing on developing new and sustainable ways of producing the
ingredients to meet consumer expectations. Presently, biotechnologically
produced ingredients for pharmaceuticals have a more substantial market
share as compared to the cosmetics market. Thus, early adoption of the
product, government initiatives, increasing production capacities of
bio-based chemicals, coupled with the presence of potential industry
participants, are likely to drive the market growth during the forecast
period.
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.
Obtain the Sample Report at: https://bisresearch.com/requestsample?id=810&type=download
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.
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 XX% 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.
Comments
Post a Comment