Personal Care Ingredients Market: Current Analysis and Forecast (2022-2028)

Personal Care Ingredients Market: Current Analysis and Forecast (2022-2028)

The global Personal Care Ingredients Market is expected to grow at a growth rate of around 5% during the forecast period. The global personal care ingredients market is growing on the changing lifestyles and increasing purchasing power of consumers in developing countries and the rapid growth of multifunctional personal care ingredients. Personal care ingredients are the raw materials for skin care products around the world. These ingredients can be used in skin care products such as anti-fungal, anti-ageing, and skin care. It can also be divided into active and inactive ingredients. Moreover, factors such as the rising demand for higher quality personal care ingredients in Europe and North America, the consumer preference toward bio-based and natural personal care ingredients, the increasing demand and production of skincare and hair care products, and the presence of a huge cosmetic industry are also influencing the growth of the personal care ingredients market. For instance, the global skin care industry is worth USD 148.3 Bn.

Some of the major players operating in the market include BASF SE, Ashland Global Specialty Chemicals Inc., Solvay SA, Dow Chemical Company, Clariant AG, Croda International plc, Evonik Industries AG, Lonza Group, Adeka Corp., and Wacker Chemie AG.

Insights Presented in the Report
"Amongst ingredient type, emollients segment to witness robust CAGR during the forecast period”

Based on ingredient type, the market is classified into emollients, surfactants, rheology modifiers, emulsifiers, and conditioning polymers. The emollients segment catered to a significant share of the personal care ingredients market in 2020. Emollients are the most widely used ingredients in the personal care market due to their wide range of applications including skin care, hair care, oral care, makeup, and toiletries. In addition, its soothing and smoothing properties, which form a protective barrier on the surface of the skin, drive its demand.
"Amongst application, the personal care ingredients segment to hold a significant share in the market in 2020”

Based on application, the market is divided into skin care, hair care, oral care, and make-up. The demand for personal care ingredients is comparatively higher in skin care applications. This segment caters to various skin-related requirements such as anti-ageing, anti-acne, and sun protection. The rising demand for skin care products, body lotion, facial creams, and others from consumers across the globe. In addition, the use of innovative ingredients has created new personal care ingredients market trends.
"Europe captured a significant share of the market in 2020”

Europe captured a prominent share of the market in 2020. This is due to the presence of a well-established healthcare infrastructure and the growing demand for personal care ingredients from various luxury products such as skin care, hair care, oral care, and makeup. In addition, the high purchasing power of consumers in the region and the growing demand for natural cosmetics with high-quality products are driving the growth of personal care ingredients in Europe. Furthermore, regulatory approvals and new product launches are also expected to drive the region’s growth in the forecast period.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.