Bakuchiol Market Size Is Expected To Reach A Revenue Of USD 17.5 Mn By 2033, At 6.6% CAGR: Dimension Market Research

(MENAFN- GlobeNewsWire - Nasdaq) The Bakuchiol market is expected to experience significant growth in the coming years, driven by growth in demand to experience natural skincare products and higher consumer awareness of its anti-aging benefits. As brands innovate with sustainable formulations & expand into emerging markets, Bakuchiol is expected to become a popular alternative to traditional retinol in the beauty industry.

New York, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Overview :

According to Dimension Market Research , the Bakuchiol Market is expected to reach USD 9.8 million by 2024 and USD 17.5 million by 2033. The market is anticipated to register a CAGR of 6.6% from 2024 to 2033.

Bakuchiol takes the attention of customers who look for natural alternatives to retinol in the beauty industry, as it attracts a large client base because of its anti-aging qualities and ability to improve skin texture without the potential adverse effects of synthetic substances. Further, skincare companies are more frequently integrating Bakuchiol into their formulas to complete the increasing in demand for plant-based products, which is suitable for sensitive skin types because of its mild and non-irritating nature as well

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The US Overview

The Bakuchiol Market in the US is projected to reach USD 3.5 million in 2024 at a compound annual growth rate of 6.2% over its forecast period.

The U.S. Bakuchiol market provides growth opportunities driven by growth in demand for natural, plant-based skincare. As consumers transform towards clean beauty and sustainable ingredients, brands can leverage Bakuchiol's gentle anti-aging benefits as a retinol alternative. However, limited consumer awareness compared to retinol remains a challenge, potentially slowing adoption despite its proven benefits for sensitive skin.

Important Insights

• The Bakuchiol Market is expected to grow by USD 17.5 million by 2033 from 2024 with a CAGR of 6.6%.
• The Natural segment as a type is anticipated to get the majority share of Bakuchiol Market in 2024
• Oil-based segment form is expected to be leading the market in 2024
• As an application, personal care segment is expected to get the largest revenue share in 2024 in the Bakuchiol Market.
• North America is predicted to have a 42.3% share of revenue share in the Global Bakuchiol in 2024.

Global Bakuchiol Market: Trends

• Clean Beauty Movement : The growing demand for clean, transparent ingredient sourcing is driving Bakuchiol's popularity as a natural alternative in skincare formulations.
• Multi-Functional Products : Consumers are highly looking for multi-functional products that incorporate Bakuchiol with other beneficial ingredients, addressing multiple skin concerns in one formulation.
• Sustainability Focus : Brands are prioritizing eco-friendly packaging & sustainable sourcing of Bakuchiol, aligning with consumers' growing challenges for environmental impact.
• Increased Research and Development : Current research into Bakuchiol's efficacy & potential therapeutic benefits is driving innovation and expanding its applications beyond traditional skincare products.

Bakuchiol Market: Competitive Landscape

The Bakuchiol market is transforming as more brands enter due to its growing popularity. Established skincare companies are adding Bakuchiol for its anti-aging benefits while emerging brands look to natural, clean beauty formulations, which drives product innovation and cater to many skin concerns. As consumer awareness grows, brands emphasize sustainability and ethical sourcing to stand out in the market.

Some of the major players in the market include The Natural Co, Wishcompany, Sederma, Snow Lotus, Indena S.p.A, and more.

Some of the prominent market players:

• The Natural Co
• Wishcompany
• Sederma
• Snow Lotus
• Indena S.p.A
• Anecdotal
• Sytheon
• Cayman Chemical
• Chengdu Mansite Bio
• Chengdu Biopurify Phytochemicals.
• Other Key Players

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Bakuchiol Market Scope

Report Highlights	Details
Market Size (2023)	USD 9.8 Mn
Forecast Value (2032)	USD 17.5 Mn
CAGR (2023-2032)	6.6%
The US Market Size (2024)	USD 3.5 Mn
Leading Region in terms of Revenue Share	North America
Percentage of Revenue Share by Leading Region	42.3%
Historical Data	2018 - 2023
Forecast Data	2024 - 2033
Base Year	2023
Estimate Year	2024
Segments Covered	By Type, By Form, By Application
Regional Coverage	North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Segment Analysis

Personal care applications of Bakuchiol are anticipated to lead the market in revenue in 2024, as it expands its use beyond skincare into products like body lotions, shampoos, and oral care, which appeals to consumers looking for natural, anti-aging, and soothing solutions for overall skin and hair health. In addition, the pharmaceutical industry is exploring Bakuchiol's therapeutic potential for conditions like acne and eczema due to its anti-inflammatory and antioxidant properties. These developments not only diversify Bakuchiol's applications but also increase its appeal to both consumers and healthcare professionals.

Bakuchiol Market Segmentation

By Type

• Natural
• Semi-Synthetic
• Completely Synthetic

By Form

• Oil-based
• Cream-based
• Serum-based
• Plant-based

By Application

• Personal Care
• Pharmaceutical Industry
• Others

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Global Bakuchiol Market: Driver

• Rising Demand for Natural Ingredients : An increase in the consumer preference for clean and plant-based skincare products drives the adoption of Bakuchiol as a natural alternative to synthetic ingredients.
• Awareness of Anti-Aging Benefits : The growth of awareness of Bakuchiol's effective anti-aging properties, like a decrease in fine lines and enhancing skin texture, encourages consumers to seek it out.
• Market Expansion in Personal Care : The integration of Bakuchiol into numerous personal care products, like haircare and body care, broadens its market reach and appeal.
• Sustainability Trends : The transformation towards sustainable and ethically sourced ingredients supports Bakuchiol's growth, as consumers prioritize eco-friendly products in their beauty routines.

Global Bakuchiol Market: Restraints

• Limited Consumer Awareness : Various consumers are still unfamiliar with Bakuchiol in comparison to well-known ingredients like retinol, which can impact market growth and adoption.
• Quality Variability : The effectiveness of Bakuchiol can vary based on sourcing and extraction methods, causing inconsistent product quality that may affect consumer trust.
• High Competition : The market is crowded with various established and emerging brands providing various alternatives, making it challenging for Bakuchiol products to stand out.
• Regulatory Challenges : Looking into the regulatory landscape for skincare ingredients can be complex, potentially, halting product development and market entry for Bakuchiol-based formulations.

Global Bakuchiol Market: Opportunities

• Product Innovation : Brands can explore innovative formulations by integrating Bakuchiol with other active ingredients, meeting specific skin concerns, and improving product efficacy.
• Expansion into Emerging Markets : The rise of disposable incomes & increasing interest in natural skincare in emerging markets provides important opportunities for Bakuchiol product launches.
• Education and Awareness Campaigns : Brands can invest in marketing strategies to educate consumers about Bakuchiol's benefits, driving demand and increasing market penetration.
• Collaborations and Partnerships : The partnership with dermatologists and skincare experts can support and validate Bakuchiol's benefits, leading to more trust and acceptance among consumers in the market.

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Regional Analysis

North America is anticipated to hold 42.3% of the Bakuchiol market revenue in 2024, driven by strong demand for clean beauty and natural skincare products. High consumer awareness of plant-based alternatives like Bakuchiol and the region's well-established beauty industry, with an aim for sustainability, contribute to market expansion. In addition, key skincare brands and strong consumer spending fuel growth. Moreover, Asia-Pacific is expected to be the fastest-growing market, due to growth in disposable incomes, changing lifestyle trends, and a growing cosmetics industry with numerous small and medium-sized companies.

By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

Recent Developments in the Bakuchiol Market

• April 2024: Wishcompany launched“Pore Smoothing Bakuchiol Sun Stick that helps develop smooth and healthy skin, along with its powerful UV protection (SPF50+ PA++++). Further, it features a primer function that corrects pores and irregularities on the skin and can be used to achieve smooth and flawless skin when applied before applying makeup.
• April 2024: Allergan Aesthetics launched two new products from SkinMedica by the makers of BOTOX® Cosmetic, namely, the SkinMedica Acne Clarifying Treatment and SkinMedica Pore Purifying Gel Cleanser, breakthroughs in skincare, providing effective & balanced care for people with acne-prone skin..
• February 2024: Wishcompany announced that By Wishtrend its high-functioning skincare brand launched a new body lotion,“Vitamin A-mazing Bakuchiol Body Lotion, which is particularly for the body and characterized by reducing irritation and improving skin elasticity with retinal (Vitamin A) and bakuchiol, known as the next-generation plant-based retinol for aging care.
• November 2023: 82°E introduced its mini collection, which have ten of its most popular skincare products like Sugarcane Soak, Lotus Splash, Ashwagandha Bounce, Cucumber Quench, Gotu Kola Dew, Bakuchiol Slip, and more, as the company is focused on to make the practice of self-care a simple, joyful and effective part of its consumer's daily lives.
• November 2023: The Beauty Health Company parent to Hydrafacial, launched the Hydrafacial and Dr. Dennis Gross Phyto-Retinol Firming Booster, as the partnership with Dr. Gross will help the booster uses the Phyto-Retinol Blend to give retinol differently, which enhances hydration, boosts radiance, and reduces fine lines and wrinkles across three skin layers, all without irritating.

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