PUBLISHER: The Insight Partners | PRODUCT CODE: 1843326
PUBLISHER: The Insight Partners | PRODUCT CODE: 1843326
The cosmetic polymer ingredients market in South and Central America was valued at approximately US$ 758.52 million in 2023, with projections indicating it will grow to around US$ 1,047.08 million by 2031, reflecting a compound annual growth rate (CAGR) of 4.1% during this period.
Strategic Developments by Key Players
Key players in the cosmetic polymer ingredients sector are actively pursuing strategic initiatives, including product innovation, research and development, mergers and acquisitions, and business expansions. These efforts aim to broaden their customer base and strengthen their market presence. For instance, in June 2023, Solvay SA introduced Naternal, a line of bio-based biodegradable polymers designed for hair and skin care products. Additionally, in October 2023, BASF SE announced plans to invest in a new facility in Dusseldorf for the production of cosmetic ingredients, particularly emollients for skin care and sun protection products, with operations expected to start by 2025. Emollients are essential cosmetic polymers that help retain skin moisture and enhance product sensory attributes. In March 2024, SNF expanded its product range by launching NATURSOL EMI Lite, a rheology modifier with a naturality index of 78%, aimed at environmentally conscious beauty solutions. Furthermore, in April 2024, Clariant AG acquired Lucas Meyer Cosmetics from IFF for US$ 810 million, enhancing its portfolio of high-value ingredients for the cosmetics sector. Such strategic moves are anticipated to create significant opportunities in the cosmetic polymer ingredients market throughout the forecast period.
Market Overview
The South and Central America cosmetic polymer ingredients market is also influenced by the rise of online retail platforms such as Mercado Livre, Amazon, and Via Varejo, which engage consumers through targeted advertising and marketing campaigns. The increasing presence of digital influencers on platforms like Instagram, TikTok, and Snapchat has further promoted various skincare, haircare, and makeup products. These influencers often employ promotional tactics, including unique coupons and discounts, to enhance the appeal of certain cosmetics. Additionally, the growing demand for convenience and rising disposable incomes contribute to the popularity of online shopping in the region.
In August 2024, Brazil and Chile concluded negotiations on the Brazil-Chile Trade Facilitating Initiative, which focuses on the cosmetics industry. This agreement aims to eliminate the requirement for a Free Sale Certificate, standardize labeling practices, improve manufacturing protocols, and enhance the trade of cosmetic products. Consequently, the easier access to cosmetic products, coupled with increasing disposable income, is expected to drive growth in the cosmetic sector in South and Central America, leading to a higher consumption of both natural and synthetic cosmetic polymer ingredients.
Market Segmentation
The South and Central America cosmetic polymer ingredients market is segmented by type, category, function, application, and country:
Key Companies
Prominent companies in the South and Central 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 at the forefront of innovation and development in the cosmetic polymer ingredients market.