What Is The Overview Of The Global Nanomaterials In Cosmetic And Personal Care Market?
Nanomaterials in cosmetics and personal care refer to substances developed at the nanoscale, typically between 1 and 100 nanometers in size, and incorporated into various beauty and personal care products. These nanomaterials offer unique properties such as enhanced absorption, improved stability, and increased efficacy, enabling manufacturers to develop innovative formulations with desirable cosmetic benefits.
Nanomaterials In Cosmetic And Personal Care Global Market Report 2024 provides data on the global nanomaterials in cosmetic and personal care market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The nanomaterials in cosmetic and personal care market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Nanomaterials In Cosmetic And Personal Care Market Expected To Grow In Size And Annual Rates?
The market for nanomaterials in cosmetics and personal care has shown rapid growth, increasing from $2.14 billion in 2023 to $2.43 billion in 2024, with a CAGR of 13.9%. Historical growth was fueled by enhanced product performance, innovations in drug delivery systems, rising consumer demand for premium products, regulatory and safety advancements, and progress in nanotechnology research. The sector is forecasted to grow further, reaching $4.12 billion by 2028 at a CAGR of 14.1%, driven by advancements in nanotechnology, growing demand for personalized beauty solutions, heightened skin health awareness, and regulatory developments. Significant trends include eco-friendly materials, improved product stability, advanced delivery systems, and innovations in UV protection and anti-aging products.
What Main Forces Are Fueling Expansion In The Nanomaterials In Cosmetic And Personal Care Market?
The rise in the aging population is expected to accelerate the growth of nanomaterials in the cosmetic and personal care sectors. This demographic shift is driven by lower birth rates and longer life expectancies due to healthcare advancements and improved living standards. Nanomaterials used in cosmetic and personal care products for older adults offer targeted delivery of active ingredients, improving skin rejuvenation and combating signs of aging while minimizing irritation. For instance, in October 2022, the World Health Organization reported that by 2030, one-sixth of the global population will be aged 60 or older, a figure expected to rise to 2.1 billion by 2050, with the number of people aged 80 or older projected to triple. Therefore, the growing aging population is fueling the demand for nanomaterials in the cosmetic and personal care markets.
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What Are The Primary Segments In The Global Nanomaterials In Cosmetic And Personal Care Market?
The nanomaterials in cosmetic and personal care market covered in this report is segmented –
1) By Product: Inorganic Nanomaterials
2) By Material: Metal-Based Nanomaterials, Mineral-Based Nanomaterials, Polymer-Based Nanomaterials
3) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, Specialty Stores, Online Retail
4) By End-User Industry: Cosmetic And Personal Care, Skincare, Haircare, Makeup, Other End-User Industries
Which Key Trends Are Driving Changes In The Nanomaterials In Cosmetic And Personal Care Market?
Companies in the cosmetics and personal care nanomaterials market are innovating sunscreen ingredients like titanium dioxide to improve UV protection while catering to consumer preferences for effective and aesthetically pleasing products. Titanium dioxide, an opacifying agent, helps achieve a matte finish and conceals skin imperfections. In December 2023, Croda International plc, a UK-based specialty chemicals company, introduced Solaveil CT-60W, a water-based titanium dioxide dispersion. This product provides high SPF levels without the usual whitening effect of titanium dioxide, offering strong UV protection and a transparent finish on the skin.
What Is The Leading Region In The Nanomaterials In Cosmetic And Personal Care Market?
North America was the largest region in the nanomaterials in cosmetic and personal care market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nanomaterials in cosmetic and personal care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
