GVR Report cover Retinol Market Size, Share & Trends Report

Retinol Market Size, Share & Trends Analysis Report By Type (Natural, Synthetic), By Application (Personal Care & Cosmetics, Dietary Supplements), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68040-053-5
  • Number of Report Pages: 120
  • Format: PDF, Horizon Databook

Retinol Market Size & Trends

The global retinol market size was valued at USD 1.33 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030. This is attributed to the growing inclusion of the product in various application industries, including personal care & cosmetics, animal feed, and food & beverages, especially in emerging economies of China, India, and Indonesia. The global personal care & cosmetics industry has been expanding rapidly over the past few years owing to increasing awareness among the masses about personal hygiene and the surging preference of consumers for natural and organic products.

U.S. Retinol Market size and growth rate, 2023 - 2030

Rising global demand for skin care products has been contributing significantly to the growth of this industry, with consumers increasingly adopting products that address their specific skin concerns and deliver visible results. Another factor driving the market is the increasing prevalence of vitamin A deficiency in developing countries. Vitamin A deficiency can lead to blindness, immune system dysfunction, and other health problems. To combat this, governments and international organizations are launching initiatives to fortify food with vitamin A, which is often provided in the form of retinol.

In addition to personal care and food fortification, the product is also used in the pharmaceutical industry. Retinol-based drugs are used to treat a variety of conditions, including acne, psoriasis, and certain types of cancer. As research continues to uncover new therapeutic applications for retinol, the demand for this compound in the pharmaceutical industry is likely to grow.

However, it is a delicate ingredient that is sensitive to light and air. Exposure to these can cause retinol to lose its effectiveness. This implies that manufacturers must ensure that the retinol produced by them is properly packaged and stored to maintain its quality. Additionally, it can cause skin irritation, especially when used in high concentrations. This can act as a challenge for manufacturers aiming to develop effective products without causing discomfort to customers.

Type Insights

The synthetic type segment dominated the market with the highest revenue share of more than 82% in 2022. This can be attributed to several factors. Firstly, synthetic retinol is generally less expensive to produce than natural, making it a more cost-effective option for manufacturers. Additionally, it is more readily available, stable, and consistent in terms of potency and purity, which ensures consistent product quality for consumers.

One of the most commonly used synthetic retinoids is tretinoin (also known as retinoic acid). It is a prescription medication used for the treatment of acne and photoaging. Tretinoin works by increasing cellular turnover, which leads to the sloughing off the dead skin cells and the formation of new, healthy skin cells. This process helps unclog pores and reduces the appearance of fine lines and wrinkles.

The natural type segment is another significant type and continues to register growth. Natural retinol is often considered a gentler alternative to synthetic retinoids as it is generally less irritating to the skin. However, its efficacy can vary depending on the concentration of the compound, the method of extraction, the skin type of users, and their requirements. In addition to its skincare benefits, natural retinol also offers other health benefits. It supports the immune system and promotes healthy vision among its consumers. However, it is important to consult a healthcare professional before incorporating natural retinol into a routine with any supplement or skincare ingredient.

Application Insights

The personal care & cosmetics segment dominated the market with the highest revenue share of 50.9% in 2022. This can be attributed to the increasing demand for anti-aging products. Consumers are becoming more aware of the benefits of retinol in reducing the appearance of fine lines and wrinkles, which has led to an increase in demand for retinol-based skincare products. For instance, in 2021, L'Oreal Paris launched a retinol-based serum called Revitalift Derm Intensives Night Serum that promises to reduce wrinkles in just one week.

Moreover, the growth of the personal care & cosmetics segment is due to the increasing popularity of natural and organic products. Many consumers are becoming more conscious about the ingredients in their skincare products and are looking for products that are free from harmful chemicals. This has led to an increase in demand for natural and organic products. For example, in 2021, Biossance launched a retinol-based serum called Squalane + Phyto-Retinol Serum that is made with plant-based retinol alternatives.

Global Retinol Market share and size, 2022

Additionally, the growth of the food & beverage segment is the increasing popularity of vegan and plant-based diets. Many consumers are looking for plant-based types of retinol, which has led to an increase in demand for plant-based fortified foods and beverages. For example, in 2021, the company Just Egg launched a plant-based egg alternative that contains retinol derived from algae.

Regional Insights

The Europe region dominated the market with the highest revenue share of 32.0% in 2022.The growth is driven by the growth of the cosmetics industry in Europe which is driven by the advent of new color pallets for skincare products and the introduction of various skin-specific treatment methods. Surging concerns among the masses in various countries of Europe about conditions like skin cancer and exposure to harmful rays have contributed to the usage of different skin care products.

The increasing number of chains for the distribution of various cosmetics and the broadening consumer demand for natural cosmetics in the region are some additional factors supplementing the growth of the cosmetics industry in Europe. Moreover, the increasing spending power of the population, ongoing urbanization, and surging awareness among the masses regarding grooming and enhancing their appearance are expected to propel the growth of the skincare industry in the region in the coming years, thereby augmenting the demand for the market in Europe.

Retinol Market Trends by Region, 2023 - 2030

North America region is estimated to grow at a CAGR of 4.3% by 2030. The growth of the market in North America is driven by the surging utilization of retinol in the formulation of personal care products & cosmetics. Countries such as the U.S. and Canada are among the largest consumers of personal care products & cosmetics in the world.

According to Automat report 2021, the sales of skin care products in the U.S. grew by approximately 13% in 2020. With the increase in health awareness and skin problems among consumers, skin care products are anticipated to witness a notable rise in their consumption in North America. This is further anticipated to drive the growth of the market in the region. Additionally, the presence of personal care product manufacturers such as L’Oréal Paris; Procter & Gamble; and Johnson & Johnson is also contributing to the growth of the market in the region.

The U.S. holds a significant position in global animal feed production. The impact of animal nutrition professionals based in the country who continue to advocate for retinol-based products, the advancements in feed production, and promising changes in feeding patterns related to the animal nutrition industry have a significant global impact. Retinol products offering Vitamin A is an essential nutrients for animals. It plays an important role in ensuring their healthy vision, immune system, and reproduction system. Owing to such factors there is an increase in the consumption of animal feed in North America which is further anticipated to impact the demand for the retinol products used in animal feed in the region in the coming years.

Key Companies & Market Share Insights

The global retinol industry is highly competitive, with several key companies involved in the production and distribution of the product. Some of the leading players in the market include BASF SE; DSM Nutritional Products; and Zhejiang NHU Co., Ltd. These companies offer a range of products for use in personal care, food and beverage, and animal feed applications.

In addition, companies developing new formulations and delivery methods to make retinol-based products more effective and user-friendly. For example, in the personal care segment, companies are developing new formulations that combine retinol with other active ingredients to enhance its effectiveness. In the food and beverage segment, companies are developing new fortified products that cater to the growing demand for functional foods and beverages. In the animal feed segment, companies are developing new supplements that are more bioavailable and easier to administer to animals. Some prominent players in the global retinol market include:


  • Beauty Solutions LTD

  • Biotics Research Corporation

  • Divi’s Laboratories Limited


  • Eluminex Biosciences

  • Guangzhou ZIO Chemical Co., Ltd

  • DSM

Retinol Market Report Scope

Report Attribute


Market size value in 2023

USD 1.38 billion

Revenue forecast in 2030

USD 1.79 billion

Growth Rate

CAGR of 3.8% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Volume in tons, revenue in USD million and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, trends

Segments covered

Type, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; China; India; Japan; Brazil; Argentina; South Africa; Saudi Arabia

Key companies profiled

BASF SE; Beauty Solutions LTD; Biotics Research Corporation; Divi’s Laboratories Limited; DRUNK ELEPHANT; Eluminex Biosciences; Guangzhou ZIO Chemical Co., Ltd; DSM

Customization scope

Free report customization (equivalent up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope.

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Global Retinol Market Report Segmentation

This report forecasts volume & revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global retinol market report based on type, application, and region:

Global Retinol Market Report Segmentation

  • Type Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

    • Natural

    • Synthetic

  • Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

    • Personal Care & Cosmetics

    • Dietary Supplements

    • Food & Beverage

    • Animal Feed

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

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