Bakuchiol Market Poised for 6.4% CAGR Growth, Aiming for USD 16.36 Million Valuation by 2033
The bakuchiol market is projected to grow at a noteworthy compound annual growth rate (CAGR) of 6.4% from 2023 to 2033, and reach a value of USD 8.80 million by 2023. By 2033, the bakuchiol market is expected to be worth USD 16.36 million.
The primary reason for accelerating the bakuchiol industry is the rising demand for it as a safe, natural substitute for retinoids. The growth of the pharmaceutical and cosmetics sectors in emerging nations has increased the demand for bakuchiol.
Demand from Consumers for Natural and Plant-based Ingredients is Rising
Customers are favoring natural and plant-based skincare products more and more. Retinol, frequently used in skin care products but can irritate the skin, has a natural substitute called bakuchiol, made from the babchi plant's seeds. The demand for bakuchiol has increased as consumers become more interested in natural and plant-based skincare products.
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