Global biobased cosmetic market to reach $8.86 billion by 2032

In Canada, Emergen Research reported that the global biobased cosmetics market is expected to reach a value of $8.86 billion by 2032, up from $4.95 billion in 2022.

The market is expected to expand at a CAGR of 6% during the forecast period, 

“Rising consumer interests for natural or organic ingredients for cosmetics, increasing research and development activities for formulation of natural cosmetics, and growing market trend for probiotic-based skin care products are some of the major factors driving revenue growth of the bio-based cosmetics market,” the report stated.

The global biobased cosmetics market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue,” it added.

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