The cosmetic antioxidants market will be worth $150.9 Million USD by 2023, according to this new report by Markets and Markets.

The market is currently worth USD 115.1 million in 2018, and is projected to grow at a CAGR of 5.6% between 2018 and 2023.

The Cosmetic Antioxidants Market is driven by a rise in aging population, increasing disposable income, and changing lifestyle of consumers.

Based on type, the vitamins segment led the Cosmetic Antioxidants Market in 2017 -- including certain types that are widely used in cosmetic products, such as vitamin E (tocopherols), vitamin C (ascorbic acid), and vitamin A (retinoid).

Based on source, the natural segment is projected to lead the Cosmetic Antioxidants Market during the forecast period. Natural antioxidants are widely used owing to the growing demand for organic and herbal cosmetic products.

The skincare application segment is expected to lead the Cosmetic Antioxidants Market between 2018 and 2023. The growing demand for cosmetic products such as anti-aging creams, anti-wrinkle creams, and UV protection, particularly in emerging countries, has fueled the skin care segment.

The Asia Pacific region is projected to be the largest market for cosmetic antioxidants between 2018 and 2023. The Asia Pacific region is the largest consumer of cosmetic antioxidants across the globe and is also projected to lead during the forecast period. The growth of the Cosmetic Antioxidants Market in Asia Pacific can be attributed to the economic growth of emerging economies such as China, India, and Taiwan, among others.