Personal Care Ingredients Market Size and Growth: Insights into Market Dynamics
The global personal care ingredients market is projected to reach a value of US$ 19,452 Million in 2032, with the market growing at a moderate CAGR of 4.9% over the forecast period of 2022 to 2032. Climbing up from a value of US$ 12,056.20 Million in 2022, the personal care ingredients market is likely to be driven by the heightened emphasis on personal care and self-grooming.
The increasing investments in research and development of skin-specific
products is supposed to augment the market expansion of personal care
ingredients over the projected period.
Personal care ingredients are synthetic chemicals that are utilized in
different cosmetics and beauty products. People now have access to a variety of
international personal care ingredients owing to rising globalization and
escalating digitalization. People all over the globe are aware of various
regional personal care ingredients due to a combination of globalization and
technology. This bodes well for the future prospects of the personal care
ingredients market.
The immense stress on hygiene and grooming along with a desire to look
good across all age groups is propelling the market growth of personal care
ingredients market. The escalating influence of social media also creates an
emphasis on personal care which facilitates the growth for the personal care
ingredients market. Moreover, rising start-up activity with regards to product
innovation keeping in mind the different skin types and age group will
positively influence the target market growth.
Changing consumer preferences coupled with an urban and active lifestyle,
especially of the younger generation, has generated more market possibilities.
Conventionally, these ingredients have registered a steady demand, however, in
the past few years, shifting consumer preference toward herbal and organic, has
altered the status quo.
The growing inclination for herbal and organic products may further
stimulate the demand for personal care ingredients in the market. At the same
time, a growing awareness among consumers about the harmful effects of some of
these personal care ingredients may stunt the market growth for the personal
care ingredients.
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"Rising focus on personal hygiene and
grooming activities across all age groups and genders is expected to strengthen
the market growth of personal care ingredients over the forecast period,"
says an FMI analyst.
Key Takeaways:
- Preference
for natural products may propel the market growth.
- Growing
consumer awareness about harmful effects may hinder the market prospects.
- In
2022, North America is expected to account for about 21.3% of
the total market share.
- Europe is
predicted to acquire around 30.4% of the market share by the end of 2022.
- Asia
Pacific market is predicted to be driven by the use of natural
ingredients.
- Based
on product type, emollients are expected to dominate the market.
Competitive Landscape
Croda International plc. (U.K.), BASF SE (Germany), Ashland Global Inc.
(U.S.), Evonik Industries AG (Germany), Akzo Nobel N.V. (Netherlands), Clariant
AG (Switzerland), The Dow Chemical Company (U.S.), Wacker Chemie AG (Germany),
Lonza Group Ltd. (Switzerland) and Solvay SA (Belgium) and Beiersdorf., and
others, are some of the major players in the personal care ingredients market
that are profiled in the full version of the report.
Major market players are focusing on product innovation and development
as well as employing a more environment-friendly operations strategy to
strengthen their market penetration.
More Insights into the Personal Care Ingredients
Market Report
In its latest report, FMI offers an unbiased analysis of the global
personal care ingredients market, providing historical data from 2016 to 2021
and forecast statistics for 2022 to 2032. To understand the global market
potential, growth, and range, the market is segmented on the basis of product
type (emollients, surfactants, emulsifiers, antimicrobials, UV absorbers,
conditioning polymers, rheology modifiers, colorants and preservatives),
application (skin care, make-up, oral care, hair care), consumer (personal care
manufacturer, chemical industries, end-use industries), and region.
According to the latest FMI reports, based on region, the personal care
ingredients market in the U.S is predicted to present substantial growth over
the forecast period. The presence of a massive consumer base coupled with
heightened demand for skin care products will propel the country's personal
care ingredients market to grow during this period of observation.
The personal care ingredients market in Europe is expected to
account for 30.4% of the overall market share in 2022 and continue its streak
of growth over the assessment period. The release of a wide range of products
for all age groups is expected to fuel the regional market growth.
Based on segmentation, by product type, the emollients segment will
likely rule the market, accounting for 35% of the global market share in 2022.
Key Segments Profiled in the Personal Care
Ingredients Industry Survey
Personal Care Ingredients Market by Application:
- Personal
Care Ingredients for Skin Care
- Personal
Care Ingredients for Make-up
- Personal
Care Ingredients for Oral care
- Personal
Care Ingredients for Hair Care
Personal Care Ingredients Market by Product Type:
- Emollients
- Surfactants
- Emulsifiers
- Antimicrobials
- UV
Absorbers
- Conditioning
Polymers
- Rheology
Modifiers
- Colorants
and Preservatives
Personal Care ingredients by Consumer:
- Personal
Care Manufacturer
- Consultants
in Chemical Industries
- End-use-Industries
Personal Care Ingredients by Region:
- North
America Personal Care Ingredients Market
- Latin
America Personal Care Ingredients Market
- Europe
Personal Care Ingredients Market
- Asia
Pacific Personal Care Ingredients Market
- Middle
East & Africa Personal Care Ingredients Market
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