The organic active ingredients market is valued at USD 8,429.5 Million in 2021 and is expanded to grow at a significant CAGR of 3.9% over 2022-2028. The organic personal care ingredient market is being driven by a rise in awareness. Concerns about safety and health and the negative consequences of synthetic chemicals are expected to drive the organic active ingredients industry. Over the projection period, increased R&D expenditure for bringing enhanced plant extracts into various personal care products is expected to boost demand. Moreover, many policies that encourage the usage of these items are expected to strengthen growth. Furthermore, over the projection period, advancements involving oligopeptides, which are employed to improve product efficiency and shelf life, are likely to positively impact product demand. Based on the type, the organic segment consumes the most organic active ingredients market. Growing consumer awareness about the harmful effects of synthetic chemicals used in personal care products and toiletries is expected to propel the demand for organic ingredients. Changing consumer perception toward artificially manufactured chemicals will strengthen the market in the near future. Natural products do not cause irritation, are environment-friendly and have no side effects. These advantages are expected to help propel the demand for natural ingredients over the forecast period.
Recent Market Developments:
In Feb 2021, Cargill launches plant-based patty and ground products. New offerings expand protein options for foodservice and retail customers, including private label solutions. The new offerings are part of Cargill’s inclusive approach to the future of protein – advancing both animal and alternative protein products to meet the expected 70% growth in global demand for protein over the next 30 years.
In January 2020, BASF launches new skin care active ingredients and showcases its actives portfolio for makeup applications at Cosmet’Agora 2020.