PUBLISHER: The Insight Partners | PRODUCT CODE: 1843322
PUBLISHER: The Insight Partners | PRODUCT CODE: 1843322
The North America cosmetic polymer ingredients market was valued at approximately USD 1,636.51 million in 2023 and is projected to grow to around USD 2,504.86 million by 2031, reflecting a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2023 to 2031.
Growing Demand for Personal Care Products
The increasing demand for personal care and cosmetic products is a significant driver of the North America cosmetic polymer ingredients market. In 2022, the personal care products sector in the United States generated sales of USD 210.6 billion, contributing USD 82.3 billion in taxes at various government levels. This sector also made a notable impact on the gross domestic product (GDP), contributing USD 308.7 billion, alongside a trade surplus of USD 2.6 billion. In Canada, the cosmetics market generated approximately USD 1.24 billion in revenue in 2021, with projections indicating growth to USD 1.8 billion by 2024 at an annual growth rate of 1.45%.
The cosmetic industry significantly influences the demand for cosmetic polymer ingredients, as consumers increasingly seek advanced and high-performance products. Polymers are essential in cosmetics for enhancing texture, stability, and overall appearance. They contribute to smoother formulations, improved product longevity, and better skin adhesion. Trends such as anti-aging, skincare innovation, and sustainable packaging are driving the demand for cosmetic polymers, which offer multifunctional properties like film-forming, emulsifying, and conditioning capabilities. As the industry emphasizes customization and innovation, the need for specialized cosmetic polymers is expected to rise, further fueling market growth.
Market Overview
The North America cosmetic polymer ingredients market is experiencing heightened demand for skincare products, driven by the rising prevalence of skin conditions and increased consumer awareness regarding skincare routines. The United States is a major contributor to the demand for cosmetic polymer ingredients, particularly in skincare applications. North America serves as a manufacturing hub for several prominent players in the cosmetic industry, including Procter and Gamble, CeraVe, Revlon, and Johnson & Johnson.
A growing preference for natural and plant-based products is also influencing the demand for natural polymer ingredients. For example, in January 2023, IT Cosmetics, LLC introduced a beauty sleep serum in Canada featuring Vitamin C for enhanced skin clarity and glow. Additionally, in October 2024, The Honest Company launched a vegan, fragrance-free collagen cream and serum aimed at improving skin firmness and reducing wrinkles. Increased consumer spending on luxury cosmetic brands, particularly in retail environments like Sephora USA Inc., is expected to further drive the demand for makeup products in the region, benefiting the cosmetic polymer ingredients market.
Market Segmentation
The North America cosmetic polymer ingredients market is segmented by type, category, function, application, and country:
Key Players in the Market
Leading companies in the North America cosmetic polymer ingredients market include 3V Sigma S.p.A., Arkema SA, Ashland Inc., BASF SE, Cargill, Incorporated, Clariant AG, Derypol, Evonik Industries AG, Nouryon Chemicals Holding BV, Sensient Technologies Corp, SNF, Solvay SA, SOPHIM IBERIA S.L, The Dow Chemical Co, and The Lubrizol Corporation. These companies are pivotal in shaping the market landscape and driving innovation in cosmetic polymer ingredients.