The report “Personal Care Ingredients Market by Ingredient Type (Emollients, Surfactants, Rheology Modifiers, Emulsifiers, Conditioning Polymers), Application (Skin Care, Hair Care, Oral Care, Make-up) and Region – Global Forecast to 2027″, the Personal Care Ingredients market is projected to reach USD 14.9 billion by 2027, at a CAGR of 4.0% from USD 11.8 billion in 2021. The growth of the personal care ingredients market is primarily triggered by the changing lifestyle and increasing purchasing power of consumers in developing countries. Moreover, an increase in demand for multifunctional personal care ingredients is another factor driving the personal care ingredients market. A major change in the lifestyle of consumers is witnessed in most of the developing countries, especially in China, Brazil, and India. The development is backed by increasing income and purchasing power. These factors have increased the demand for personal care ingredients in these countries. The awareness about hygiene, beauty, and health has been steadily increasing. For instance, premium skin and hair care products, which were earlier used in the urban areas, are now easily penetrating the rural areas of India and China. This shift in consumption pattern is driving the cosmetics & personal care industry.
Browse
• 261 Market data Tables
• 68 Figures
• 258 Pages and in-depth TOC on “ Personal Care Ingredients Market – Global Forecast to 2027″
Some of the prominent key players are:
· BASF SE (Germany)
· Dow Inc. (US)
· Clariant (Switzerland)
· Croda International Plc. (UK)
· Ashland (US)
· Solvay (Belgium)
· Evonik Industries AG (Germany)
· Nouryon (Netherlands)
· Lonza (Switzerland)
Opportunities: High market potential in emerging economies
China, India, Brazil, Mexico, Indonesia, and Saudi Arabia are considered to be the top six developing countries in the top 20 economies by GDP (nominal). With most of the developed countries reaching maturity, these economies are evolving as lucrative markets for all businesses. In 2019, the total population of BRIC (3.08 billion people) countries was more than four times that of the Group Seven (G7) countries (0.77 billion people). Asia Pacific and the Middle East & Africa are considered to be the high-growing regions for the personal care industry due to the abundant availability of the required ingredients in these areas. The changing trends and lifestyles of people across these regions are driving the growth of the personal care industry.
Emollients is the largest ingredient type of personal care ingredients market.
The emollients segment accounted for the largest share of the global personal care ingredients market in terms of value in 2020. Emollients are fatty substances that provide lubricating action and make the skin feel softer. Emollients are widely used in skin care products ranging from face creams to skin cleansers and scrubs; and in hair care products such as shampoos and conditioners. The market for conditioning polymers is quite small compared to surfactants and emollients in terms of volume. However, due to their higher prices, there is not much difference in the market sizes of emollients, surfactants, and conditioning polymers in terms of value.
Middle East & Africa is projected to be the fastest-growing market for personal care ingredients during the forecast period.
The Middle East & Africa is projected to register the highest CAGR in the personal care ingredients market between 2022 and 2027 in terms of value. The growth is mainly attributed to the growing demand for halal-certified products, which is boosting the demand for a variety of personal care products. This, in turn, is increasing the demand for personal care ingredients in the region. The increasing population and increase in disposable income in the region are driving the demand for personal care products, which, in turn, is driving the demand for personal care ingredients.
