In terms of revenue, the Global Personal Care Ingredients Market is expected to reach USD 14.2 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.8% from 2022 to 2028.
Everyone needs personal care products, which often comprise shampoo, cream, soap, lotion, hair gel, etc. They are employed for both personal hygiene and cosmetic reasons. Ingredients for personal care products are utilized specifically for skin care, oral care, and other applications. Due to the increased demand for Personal Care Ingredients brought on by shifting lifestyles and the rising spending power of consumers in developing countries, the global market for Personal Care Ingredients is predicted to rise significantly in the years to come. Additionally, there has been a considerable uptick in demand for substances with multiple uses, contributing to the market's rapid expansion.
Key Highlights from Report:
- Skin Care segment, from the Applications, has the biggest demand for personal care components. This section addresses various skin-related needs, including anti-aging, anti-acne, and sun protection. The younger generation in countries' growing need for fair products.
- The Emollients category, of the Types segmentation, which had the largest revenue share of the Global Personal Care Ingredients Market in 2020, is anticipated to dominate over the projected period. Due to the rising use of these personal care chemicals due to their soothing and skin-smoothing characteristics, nearly all products, such as cleansers, deodorants, shampoos, antiperspirants, and others, contain them. These elements are considerably fueling this market segment's expansion.
- Europe is anticipated to hold the biggest market share regarding value for ingredients used in personal care products. This results from the rising demand for Personal Care Ingredients in high-end cosmetics, skincare, hair care, oral care, and other goods. Additionally, people in the region have considerable purchasing power, and there is a growing demand for high-quality, natural cosmetics. These factors have contributed to the expansion of Personal Care Ingredients in Europe.
Ingredients for personal care are the basic building blocks utilized in producing skin care goods worldwide. These components can act as anti-fungal, anti-aging, skin-conditioning, and other compounds in skin care products. Additionally, they can be divided into active and inactive components. Inactive components include surfactants, preservatives, colorants, and polymer materials, while active ingredients include anti-aging agents, exfoliants, conditioning agents, and UV protection agents. The market will grow because of rising R&D costs, improvements in ingredient processing technology, cost-effective production methods, and the expanding usage of specific components in developing organic & natural personal care products. The expanding number of women working in metropolitan areas and the growing importance of personal grooming have benefited market growth.
Europe currently holds the greatest market share in terms of value and is predicted to increase at a Compound Annual Growth Rate (CAGR)over the forecast period. Due to the rising product demand for high-end cosmetics, skincare, hair care, and oral care products, Cosmetics are mostly made up of makeup items, including lipstick, moisturizer, nail polish, face powder, gel, and cream. The region's strong personal care product use drives sales of Personal Care Ingredients in Europe.
The Global Personal Care Ingredients Market is Segmented as follows:
- Ingredient Types
- Rheology Modifiers
- Conditioning Polymers
- Other Ingredient Types
- Skin Care
- Hair Care
- Oral Care
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Personal Care Ingredients Market is:
BASF SE, The Dow Chemical Company, Solvay, Evonik Industries AG, Clariant AG, Ashland Global Holdings Inc., Nouryon, Croda International PLC, Lubrizol Corporation, Adeka Corporation, Air Liquide, Corbion N.V., Eastman Chemical Company, Elementis PLC, Dupont, Innospec Inc., Merck KGAA, Momentive Performance Materials Inc., Kao Corporation, Galaxy Surfactants Ltd., Givaudan S.A., Oxiteno, Symrise AG, Stepan Company, Wacker Chemie AG
The Global Personal Care Ingredients Market Scope can be Tabulated as below:
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|