Bio-Based Cosmetics and Personal Care Ingredients | Industry Growth and Future Analysis

The total value of the global bio-based cosmetics and personal care ingredients market was USD 4,550.6 million in 2021, and it will rise at a growth rate of above 5.3% shortly, reaching USD 7,271.7 million by 2030, according to P&S Intelligence.

This growth can be ascribed to the rising cosmetics sector, increasing knowledge about the damaging effects of artificial chemicals, and the rising effect of marketing approaches on customer trust are some of the robust factors driving the development of the industry.

In 2021, the bio-based ingredients utilized in skin and sun care solutions made approximately USD 2 billion in revenue. Such elements hold the largest share of the industry, and they are projected to remain in the top spot in the future as well.

North America dominated the bio-based cosmetics and personal care ingredients industry with around 45% share, in 2021. The growing customer focus toward multifunctional personal care items, demanding lifestyles, and growing working populace are driving the development of the market in the continent.

North America is a key industry for skincare and haircare items because of the growing knowledge among individuals on skin and hair care especially in the male populace. 

The high disposable revenue in North America also helps the demand for haircare and skincare products, which boosts the need for bio-based elements in the continent.

Increasingly, individuals are turning more worried about their looks, so they are looking for improved substitutes to the old-style cosmetic items in the industry. 

Establishments are investigating deeper into all thinkable aspects of attractiveness and well-being, examining customer behavior and prettiness aspirations, understanding the ecology of the hair and skin, and refining sustainable growth approaches.

Hence, the rising cosmetics sector, increasing knowledge about the damaging effects of artificial chemicals, and the rising effect of marketing approaches on customer trust are some of the robust factors driving the development of the industry.