The Personal Care Ingredients Market is expected to be valued at USD 15.12 Billion in 2027 from USD 11.19 Billion in 2019, registering a CAGR of 4.1% through the forecast period. The augmented progress of the market can be accredited to the constant lifestyle changes of the consumers that affect their purchasing behavior. Increasing awareness about hygiene and health has boosted the marketing of personal care products made with superior-quality ingredients. Soaring investment in research and development activities of manufacturers and producers to develop an environmentally friendly and sustainable product portfolio is bolstering the demand of the industry.
The increasing interest in self-care and products that boost health quality among consumers across the globe is bolstering the market demand further. The rising application of natural ingredients in the industry is anticipated to propel the progress of personal care ingredients. Augmenting consciousness among consumers regarding the side-effects of synthetic materials has impeded the use of chemically induced products and has, in turn, escalated the application of natural products. A soaring requirement of younger generation consumers for products with increased transparency in accordance with increasing awareness about the environment has boosted the consumption of natural personal care products.
Key Highlights from the Report:
- The skincare sub-segment occupied a sizeable share of the market in 2019, accounting for a 39.2% market share. The growth of the segment can be ascribed to the soaring demand for anti-aging ingredients among the elderly populace to obtain rejuvenating skin, thereby bolstering the market growth of personal care ingredients.
- The conditioning polymers sub-segment is forecast to proliferate at a significant growth rate of 5.5% during the projected timeframe. Augmenting demand among consumers for safe, multi-purpose, and natural products are projected to boost the growth of the conditional polymers segment in the estimated timeline.
- The European market occupied an enormous share of the market in the global landscape in 2019 and is anticipated to retain its dominant position in the market in the projected timespan. The regional growth can be ascribed to the growing interest of cosmetic manufacturers in the region to develop products with natural ingredients over synthetic chemicals.
- Major industry players include Dow, Nouryon, BASF SE, Solvay S.A., Clariant AG, Ashland Global, Lubrizol Corporation, Croda International Lonza Group AG, and Evonik Industries AG.
- siHealth, Ltd., a United Kingdom-based healthcare company, in 2019, joined forces with BASF SE that also covered an equity investment. The collaboration is anticipated to help BASF SE individually deliver optronic and satellite technologies to the global industry. The partnership is also expected to bolster BASF SE’s offerings and boost its development of advanced and novel solutions.
For the purpose of this report, Emergen Research has segmented the Global Personal Care Ingredients Market on the basis of application, ingredient type, and region:
Application Outlook (Revenue, USD Billion; 2017–2027)
- Hair Care
- Oral Care
- Skin Care
Ingredient Type Outlook (Revenue, USD Billion; 2017–2027)
- Conditioning Polymers
- Rheology Modifiers
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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