The global Personal Care Ingredients Market is valued at USD 12.1 Billion in 2022 and is projected to reach a value of USD 16.46 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 4.5% between 2023 and 2030.
The increasing awareness of personal hygiene and cleanliness in consumers has increased demand for personal care products, which is propelling the worldwide Personal Care Ingredients market forward. Rising disposable incomes, urbanization, and increased awareness of health and well-being have all contributed to the market's expansion. Furthermore, introducing novel and natural components is projected to drive market expansion.
Personal Care Ingredients Market Size, 2022 To 2030 (USD Billion)
The natural Personal Care Ingredients category is expected to increase greatly throughout the forecast period due to consumers' growing desire for natural and organic products. Furthermore, the increasing use of natural chemicals in high-end personal care products such as anti-aging and skin whitening treatments propels this market forward.
Because of the increase in demand for personal care products such as skincare and hair care, the cosmetics application category is expected to hold the biggest market share in the Personal Care Ingredients market during the forecast period. Furthermore, the rising desire for organic and natural personal care products will likely boost demand for cosmetic applications.
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Because of the region's growing population, rising disposable incomes, and changing lifestyles, Asia Pacific is predicted to have the greatest market share in the Personal Care Ingredients market. Furthermore, the increasing use of personal care goods in the region, such as skin care, hair care, and dental care products, is driving the expansion of this market.
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Top Market Trends
- Natural and Organic Ingredients: In recent years, the use of natural and organic substances in personal care products has grown in popularity. Consumers are now more picky about what they put on their skin, and they are increasingly looking for products that are devoid of dangerous substances. The need for personal care products free of synthetic scents, preservatives, and other hazardous chemicals drives the natural and organic components market. Plant-based ingredients, such as essential oils, botanical extracts, and natural sweeteners, are being used to create novel products.
- Anti-Pollution Ingredients: As people become more concerned about pollution, personal care products that protect the skin from environmental stressors have developed. The market for anti-pollution ingredients is expected to expand in the future years, with products promising to protect the skin from the negative, harmful effects of pollution. These products contain antioxidants, probiotics, and vitamin C, neutralizing free radicals and protecting the skin. To meet consumer demand, brands actively promote their products' anti-pollution benefits.
The global Personal Care Ingredients market is segmented based on: Ingredient Type, Function, Application, and Region. Based on the Ingredient Type, the market is further segmented into Synthetic Ingredients, Natural Ingredients, Blended Ingredients, Polymers, Humectants, Preservatives, Emollients, Surfactants, Emulsifiers, Rheology Modifiers, Conditioning Polymers, and Others(UV absorbers, chelating agents, etc.). Additionally, based on Function, Personal Care Ingredients market is categorized as Cleansing Agents, Moisturizing Agents, Exfoliants, Emollients, Anti-Aging Agents, Anti-Microbial Agents, and Others (Colorants, Fragrances, etc.). Furthermore, based on the segment of Application, the market is further bifurcated into Skin Care, Hair Care, Oral Care, Makeup, Fragrances, and Others (Deodorants, Sunscreens, etc.). Likewise, based on Region, the market is segmented into North America, Europe, Europe, Latin America, and Middle East & Africa.
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Based on Ingredient Type
Surfactants are the Leading Category
Surfactants, emollients, rheology modifiers, and conditioning polymers are the most common ingredient types in the Personal Care Ingredients industry. Surfactants are the most important of these chemicals because of their capacity to reduce liquid surface tension and promote proper body or hair washing. Nonionic surfactants are commonly utilized in personal care products as emulsifiers. Asia Pacific has the largest share of this category, owing to the growing importance of personal care goods in the area.
Based on Function
Anti-Aging Category Dominates this Area, Accounting for Over 28% of Global Personal Care Products
Personal Care Ingredients are extremely functional in nature and can be used for various objectives, such as moisturization, skin hydration, UV protection, and anti-aging. Moisturizing substances such as glycerin and urea are used specifically to hydrate dry skin. Anti-aging creams are also being used more frequently to reduce the appearance of fine lines and wrinkles on the skin. In terms of application, the anti-aging category dominates this area, owing primarily to the growing aging population.
Based on Application
Skin Care Business is the Most Significant Sector, Accounting for Over 33% of Global Personal Care Products Usage.
Personal Care Ingredients are used in various industries, including skin care, hair care, and dental care. Skincare dominates the industry and is predicted to develop significantly in the future. In the personal care business, the rising demand for natural ingredients and multifunctional products has fueled the rise of the skin care segment. Because of their non-toxic nature and potential benefits, organic skin care products have acquired considerable customer appeal.
Based on Region
Europe to Lead Global Sales Owing to Changing Lifestyle
The Asia Pacific region is the largest region in the Personal Care Ingredients market, accounting for most of the market share. This region is witnessing a rapid expansion in the personal care industry. The increasing population in the region and the growing middle-class population have led to increased consumption of personal care products. Moreover, rising disposable income and changing lifestyles have fueled the demand for personal care products, which, in turn, is expected to drive the demand for Personal Care Ingredients in the region.
The region is known for its diverse climatic conditions, which result in a wide range of skin and hair concerns. This has led to a strong demand for Personal Care Ingredients that cater to these needs. Moreover, consumers in the region are increasingly looking for natural and organic personal care products, which has led to a surge in demand for natural ingredients. This trend is expected to continue in the coming years, with consumers becoming more aware of the impact of synthetic ingredients on their health and the environment.
Furthermore, the region is witnessing a rise in the number of small and medium-sized personal care companies, which are driving the demand for Personal Care Ingredients. These companies focus on niche markets and develop innovative products requiring unique and specialized ingredients. As a result, the demand for Personal Care Ingredients is expected to rise in the coming years as more companies enter the market and focus on research and development.
China, Japan, and India are the major players in the Asia Pacific Personal Care Ingredients market, accounting for most of the market share. China is the largest consumer of personal care products globally and is expected to witness significant growth in the coming years. Japan has large aging population fuels the demand for anti-aging and other personal care products. On the other hand, India has a large young population, driving the demand for personal care products such as hair care and skin care.
In conclusion, the Asia Pacific region is the largest and fastest-growing region in the Personal Care Ingredients market. The region's large population, rising disposable income, and changing lifestyles drive the demand for personal care products, which is expected to drive the demand for Personal Care Ingredients in the coming years. Moreover, the region's diverse climatic conditions, demand for natural ingredients, and rise in the number of small and medium-sized companies are expected to fuel the market growth in the region.
Numerous international and regional actors compete fiercely on the global market. Major corporations engage in strategic alliances, mergers & acquisitions, and joint ventures to acquire a market advantage. In addition, manufacturers concentrate on capacity expansions and R&D for new product development to offer consumers products that are on trend. On March 9, 2023, Clariant launched Plantasens Pro LM, a new natural emollient that gives a luscious, rich, and caring sensation to the skin during and after application, as consumers worldwide exhibit increasing interest and education in skin care.
The key players in the global Personal Care Ingredients market include - BASF SE (Germany), The Dow Chemical Company (U.S.), Solvay (Belgium), Evonik Industries AG (Germany), Clariant AG (Switzerland), Ashland Global Holdings Inc. (U.S.), Nouryon Chemicals (Netherlands), Croda International PLC (UK), Lubrizol Corporation (U.S.), Adeka Corporation (Japan), Air Liquide (France), Corbion N.V. (Netherlands), Eastman Chemical Company (U.S.), Elementis PLC (UK), Dupont (U.S.), Innospec Inc. (U.S.), Merck KGAA (Germany), Momentive Performance Materials Inc. (U.S.), Kao Corporation (Japan), Galaxy Surfactants Ltd. (India), Givaudan S.A. (Switzerland), Oxiteno (Brazil), Symrise AG (Germany), Stepan Company (U.S.), Wacker Chemie AG (Germany) among others.
Recent Market Developments
- February 2023: BASF exhibits its innovative personal care solutions at the "2023 Personal Care and Homecare Ingredients" (PCHi) show, which is themed "Sustainable technology perfects healthy beauty." Apart from the company's signature sunscreen, cleaning, and skin care products, newcomers Postbiolift and Phytocine impress trade show attendees.
- February 2023: Croda International Plc ('Croda') announced the acquisition of Solus Biotech ('Solus'), a global leader in premium, biotechnology-derived beauty actives, from Solus Advanced Materials for a total consideration of KRW350 billion (approximately £232 million) on a debt-free, cash-free basis. The acquisition gives Solus access to its existing biotech-derived ceramide and phospholipid technology and its emerging natural retinol capabilities. Croda's Beauty Actives portfolio will be greatly strengthened due to this acquisition, as will its exposure to specific premium categories.
- November 2022: Ashland has introduced sclareanceTM biofunctional, derived from the company's clary sage fields in the United States, where the blossoms are bio-transformed utilizing non-GMO biotechnology. It is Ashland's second biofunctional with artificial intelligence (AI) for health and wellness in scalp care, and it helps minimize the appearance of dandruff while restoring a healthy scalp.
Segmentation of the Global Personal Care Ingredients Market
- Ingredient Types (Synthetic Ingredients , Natural Ingredients , Blended Ingredients , Polymers , Humectants, Preservatives , Emollients, Surfactants , Emulsifiers, Rheology Modifiers , Conditioning Polymers, Other Ingredient Types)
- Application (Skin Care, Hair Care, Oral Care, Makeup, Fragrances, Other Applications)
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
- Function (Cleansing Agents, Moisturizing Agents, Exfoliants, Emollients, Anti-Aging Agents, Anti-Microbial Agents, Others)
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- BASF SE (Germany)
- The Dow Chemical Company (U.S.)
- Solvay (Belgium)
- Evonik Industries AG (Germany)
- Clariant AG (Switzerland)
- Ashland Global Holdings Inc. (U.S.)
- Nouryon Chemicals (Netherlands)
- Croda International PLC (UK)
- Lubrizol Corporation (U.S.)
- Adeka Corporation (Japan)
- Air Liquide (France)
- Corbion N.V. (Netherlands)
- Eastman Chemical Company (U.S.)
- Elementis PLC (UK)
- Dupont (U.S.)
- Innospec Inc. (U.S.)
- Merck KGAA (Germany)
- Momentive Performance Materials Inc. (U.S.)
- Kao Corporation (Japan)
- Galaxy Surfactants Ltd. (India)
- Givaudan S.A. (Switzerland)
- Oxiteno (Brazil)
- Symrise AG (Germany)
- Stepan Company (U.S.)
- Wacker Chemie AG (Germany)
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