BASF has announced price increases for its Care Chemicals portfolio worldwide.
The price adjustment, said the company, which is the leading provider of cosmetics materials globally, is in response to continued surges in raw material, transport and energy costs.
The chemicals giant’s Care Chemicals division offers a wide portfolio of ingredients for industries including personal care, as well as home care, industrial & institutional cleaning and technical applications.
Its range of goods includes surfactants, emulsifiers, polymers, emollients, complexing agents, cosmetic active ingredients and UV filters.
The global announcement follows increases to prices of BASF’s North America Care Chemicals products in November last year, which itself was on the back of September price hikes in the region.
BASF is not the only ingredient supplier to officially communicate its price adjustments; in December 2021, Switzerland’s Clariant said it was increasing its prices by up to 35% in the EMEA region.
Beauty braces itself
Beauty businesses need not necessarily raise their product prices to navigate 2022’s ‘big squeeze’, as Cosmetics Business reported earlier this year.
Brands are turning to solutions including reformulation and shopping around for sourcing.
For beauty labels, ingredient price increases can also facilitate teachable moments for their customers regarding transparency.
