How Increasing Awareness on Skincare Propels Bio-Based Cosmetics and Personal Care Ingredients Market?
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The total size of the global bio-based cosmetics and personal care ingredients market was around $4,550.6 million in 2021. The market is projected to propel at a CAGR of 5.3% during the projected period and reach $7,271.7 million in 2030. The development of the cosmetic industry and the cognizance of people toward the harmful effects of synthetic chemicals are some of the factors that play a crucial role in the growth of the market.
The revenue generated by the use of bio-based ingredients in skin and sun care products amounted to approximately $2 billion in 2021. The share of these ingredients was the largest in the bio-based cosmetics and personal care ingredients market, and this trend will also continue in the coming years. The main reasons for this will be the increasing consumer awareness regarding skincare and the inclination of the chemical companies toward producing cosmetics using bio-based ingredients.
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