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Personal Care Ingredients Market is expected to grow from USD 12.10 billion in 2021 to USD 18.58 billion by 2029, at a CAGR of 5.8% during the forecast period 2022-2029 : Greyviews

personal care ingredients market are Ashland Global Holdings Inc., BASF SE, Berkshire Hathaway Inc., Clariant AG, Croda International Plc, DOW, Inc., Evonik Industries AG, J.M. Huber Corporation, KCC Corporation, and Solvay S.A. among others.

/EIN News/ -- Pune India, May 20, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the personal care ingredients market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the personal care ingredients market is present across various countries in the above-mentioned regions.

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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the ingredient type, application, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

Global Personal Care Ingredients Market Size by Ingredient Type (Emollients, Surfactants, Emuslifiers, Rheology Modifiers, Conditioning Polymers, and Others), Application (Skin Care, Hair Care, Oral Care, Make-up, and Others), Regions, Segmentation, and forecast till 2029.  

The significant players operating in the global personal care ingredients market are Ashland Global Holdings Inc., BASF SE, Berkshire Hathaway Inc., Clariant AG, Croda International Plc, DOW, Inc., Evonik Industries AG, J.M. Huber Corporation, KCC Corporation, and Solvay S.A. among others. To achieve a substantial market share in the worldwide personal care ingredients market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, BASF SE is one of the most significant manufacturers and distributors present in the global personal care ingredients market.

The desire for more authentic and socially-responsible ways of living has led to the rise in adoption of personal care products, fueling the market growth. The prominent ingredients includes emollients, preservatives, emulsifiers, mild surfactants, actives, and pearlizers. In past few years, the personal care ingredients is seeing emergence of trending natural beauty ingredients including sea buckthorn oil, pearl powder and ceramides. 

Growing disposable income coupled with the rise in purchasing power of consumers has driven growth of the global market. For instance, the markets such as the Association of Southeast Asian Nations (ASEAN) are seeing observable increase in the purchasing power of consumers coupled with the rising interest in multifunctional skin care products. This trend has boosted growth of the global market.

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Scope of Personal Care Ingredients Market Report

Report Metric Information
Study Period 2021-2029
Base Year              2021
Forecast Period 2022-2029
Market Share Unit USD Billion
Segments Covered Ingredient Type and application
Regions Covered North America, Europe, Asia-Pacific, South America and Middle-East and Africa
Major Players Ashland Global Holdings Inc., BASF SE, Berkshire Hathaway Inc., Clariant AG, Croda International Plc, DOW, Inc., Evonik Industries AG, J.M. Huber Corporation, KCC Corporation, and Solvay S.A. among others

Segmentation Analysis

Emollients segment is expected to be the fastest growing segment in 2021.

The ingredient type segment includes emollients, surfactants, emuslifiers, rheology modifiers, conditioning polymers, and others. Emollients segment is expected to witness highest growth rate during the forecast period due to its applicability in skin care, oral care, make-up, hair care, and toiletries products. Further, in April 2022, Biosynthetic Technologies, LLC, the manufacturer of bio based synthetic molecules launched its 100% biobased emollient for personal care. Such products developments are projected to create lucrative growth opportunities for this segment.

Hair care segment is expected to be the fastest growing segment in 2021.

The livestock type segment includes skin care, hair care, oral care, make-up, and others. Hair care segment is anticipated to witness highest CAGR during the forecast period owing to emerging popularity of products such as hair masks, hair oils, shampoos, conditioners, hair straighteners, hair serums, and hair sprays. In addition, there is huge demand for mild ingredients in hair care solutions as most of the consumers prefer water-based products instead of solvent based ones to ensure ease of use and minimal hair damage.

Regional Analysis                                                               

The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the personal care ingredients include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.

Europe region witnessed a major share as the region is leader in cosmetics industry with dominant cosmetics exports in past few years. However, Asia-Pacific is expected to witness highest growth rate during the forecast period. The number of factors such as growing population, increasing disposable incomes, and growing geriatric population in this region has driven demand for personal care products.

Country Analysis

Germany

In Germany, the high consumer interest in premium cosmetics has driven growth of the personal care ingredients market.

Germany personal care ingredients market size was valued at USD 1.09 billion in 2021, at a CAGR of 4.78% from 2022 to 2029.

Further, this is one of the major countries with most rapidly ageing population in the world, hence, the need for skincare solutions in boosts growth of the market in the country.  Also the country is seeing new product innovations in skincare industry. For instance, in April 2022, Beiersdorf, a German multinational company announced to launch the world’s first skincare product with recycled CO2.

China

China personal care ingredients market size was valued at USD 0.94 billion in 2021 and is expected to reach USD 1.42 billion by 2029, at a CAGR of 5.5% from 2022 to 2029. Growing disposable income, considerable growth in urbanization, and social media influence has boosted growth of the personal care ingredients market in China. In addition, increasing imports of personal care products in the country is projected to boost growth of the market. For instance, according to the U.S. Department of Commerce data in 2020, the U.S. exported about $838 million of personal care and cosmetic products to China, up 2.2% from previous year.

India         

India personal care ingredients market size was valued at USD 0.69 billion in 2021 and is expected to reach USD 1.04 billion by 2029, at a CAGR of 5.6% from 2022 to 2029. India is one of the strongest growing economies in Asia. Increasing focus on personal hygiene and health, improving consumer living standards, and demand for men's grooming products has driven growth of the India personal care ingredients market. In addition, the personal care brands in this country are targeting niche audiences with the proposition of sustainable and natural products. This factor is further projected to create lucrative growth opportunities for the market.

Covid-19 Impact               

Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, automobile, etc. Similarly, the demand for personal care ingredients has decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the manufacturing facilities of personal care ingredients were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for personal care ingredients significantly decreased.

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Rocky Shah

GreyViews

Pune India

Phone: (+44) 162-237-1047

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