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Personal Care Ingredients Market

Published Date : Jun 2024 | Forecast Year : 2019

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Personal Care Ingredients Market Size, Share & Trends Cover Analysis By Product Type (Emollients, Surfactants, Conditioning Polymers, Emulsifiers, Rheology Modifiers, Active Ingredients, Preservatives, Others), By Product Application (Skin Care, Hair Care, Oral Care, Cosmetics, Others) Growth, Regional Outlook, and Forecast 2024 – 2032

Report ID: AG886

Published : Jun 2024

Pages : 155

Category : Consumer Goods

Format : Personal Care Ingredients Market

REPORT ATTRIBUTEDETAILS
MARKET SIZE (2032)USD 7.71 Billion
MARKET SIZE (2023)USD 4.5 Billion
CAGR (2023-2029)5.71%
HISTORIC YEAR2019
BASE YEAR2023
FORECAST YEAR2032
BY TYPEEmollients
Surfactants
Conditioning Polymers
Emulsifiers
Rheology Modifiers
Active Ingredients
Preservatives
Others
BY APPLICATIONSkin Care
Hair Care
Oral Care
Cosmetics
Others
GEOGRAPHIC ANALYSISNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
KEY PLAYERSBASF SE, Dow Inc., Ashland Global Holdings Inc., Clariant AG, Croda International Plc, Evonik Industries AG, Lonza Group Ltd., Solvay S.A., Wacker Chemie AG, Eastman Chemical Company, Symrise AG, Akzo Nobel N.V., Givaudan, Merck KGaA, DSM Nutritional Products.

Introduction:

The Personal Care Ingredients Market includes a wide range of raw materials used in the manufacture of personal care products such as skin care, hair care, cosmetics and hygiene products. This market has ingredients like emulsifiers, surfactants, emollients, preservatives, thickeners and active ingredients. Driven by growing consumer awareness and demand for high-quality, effective and safe personal care products, the market is expanding rapidly. 

Personal Care Ingredients Market size was valued at USD 4.5 Billion in 2023 and is projected to reach USD 7.71 Billion by 2032, CAGR of 5.71% from 2024 to 2032.

Innovations in natural and organic ingredients are particularly important, as consumers increasingly prefer environmentally friendly and sustainable alternatives. In addition, advances in technology and research lead to the development of new ingredients that promise better performance and multi-purpose benefits. The market is highly competitive and major players are focusing on product innovation, strategic partnerships and mergers and acquisitions to strengthen their market position. Legal compliance and safety standards play a crucial role in shaping market trends and ensuring consumer confidence.

Overview:

More and more people are using bio-based technologies that have implications for beauty and personal hygiene. Cosmetic companies have invested heavily in bio-based ingredients over the past 10 years as customers have asked for improved formulations and active ingredients. Customers are more likely to buy cosmetics with bioactive ingredients from natural sources because they know these ingredients are good for them. Many different bio-based ingredients are used in the cosmetics and hygiene industry.

Some examples include emollients, conditioning polymers, surfactants, emulsifiers, rheology control agents, antimicrobial agents and others (including UV absorbers and holding polymers). A major factor driving the growth of the market is expected to be the increase in the use of cosmetics and hygiene products made from natural and organic ingredients. More money is expected to be spent on research and development, improved processing of ingredients and cheaper production methods, all of which will contribute to market growth. More and more people are also asking for natural ingredients and additives in their cosmetics because they are learning how harmful traditional products filled with synthetic chemicals can be. This trend is expected to grow significantly during the forecast period.

Personal Care Ingredients Market

Size, by Product, - (USD Billion)

Emollients

Surfactants

Conditioning Polymers

Emulsifiers

Other Products

18 16 14 12 10 8 6 4 2 0

The Market will Grow

At the CAGR of:

5.71%

The Forecast Market

Size for in USD:

$7.71 Billion B

b0d51e3055fd6f23ff6a384a6e091406.svg

Key Players:

  • BASF SE

  • Dow Inc.

  • Ashland Global Holdings Inc.

  • Clariant AG

  • Croda International Plc

  • Evonik Industries AG

  • Lonza Group Ltd.

  • Solvay S.A.

  • Wacker Chemie AG

  • Eastman Chemical Company

  • Symrise AG

  • Akzo Nobel N.V.

  • Givaudan

  • Merck KGaA

  • DSM Nutritional Products

Market Segmentation:

By Type:

  • Emollients

  • Surfactants

  • Conditioning Polymers

  • Emulsifiers

  • Rheology Modifiers

  • Active Ingredients

  • Preservatives

  • Others

By Application:

  • Skin Care

  • Hair Care

  • Oral Care

  • Cosmetics

  • Others

By Region:

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa

Personal Care Ingredients Market

Share, by end user, (USD Billion)

Analytica Global 4.5 Billion %

Skin Care

Hair Care

Oral Care

Cosmetics

Other End-Users

b0d51e3055fd6f23ff6a384a6e091406.svg

7.71 Billion

Total Market Size

USD (Billion),

5.71%

CAGR

-

Key Stakeholders:

  • Raw Material Suppliers

  • Ingredient Manufacturers

  • Personal Care Product Manufacturers

  • Regulatory Authorities

  • Research and Development Organizations

  • Distributors and Wholesalers

  • Retailers

  • Consumers

  • Industry Associations and Trade Groups

  • Environmental and Ethical Organizations

  • Marketing and Advertising Agencies

  • Intellectual Property (IP) Lawyers and Patent Offices

  • Consultants and Market Analysts

Market Opportunities:

  • Natural and Organic Ingredients Consumer Demand: Growing consumer preference for natural and organic products. Development of new natural and organic ingredients. Favorable regulations that encourage the use of natural ingredients.

  • Sustainable and Environmentally Friendly Products Sustainability: Demand for sustainable and environmentally friendly personal care products is increasing. opportunities to develop green chemical processes for ingredient production.

  • Packaging: The growth of sustainable packaging solutions. High demand for anti-aging ingredients. Ingredients that offer multiple benefits (eg. hydration, UV protection). Individual skincare products tailored to individual needs.

  • Technological Advances Biotechnology: Using biotechnology to develop new effective ingredients. Incorporation of nanotechnology for better delivery and improvement of ingredients.

  • Artificial Intelligence and Data Analytics: Using artificial intelligence and data analytics to predict trends and customize products. Rapid growth of the personal care market in Asia Pacific, especially in China and India. Growth in disposable income and growing beauty industry in Latin America. Growing interest in personal care and beauty products.

  • Clean Beauty Movement Transparency: The demand for ingredient transparency and clean beauty products. Cultivate products without harmful chemicals (eg. parabens, sulfates).

  • Men's Grooming Products Expanding Market: More attention to men's grooming products. Developing the right ingredients for the needs of men's skin and hair.

  • Hair Care Innovations Scalp Care: A growing trend in scalp care products. The demand for ingredients suitable for natural and textured hair is increasing. Integrating Health and Wellness Concepts into Personal Care. The rise of beauty supplements and ingestible beauty products.

Personal Care Ingredients Market

Size, by Product, - (USD Billion)

APAC $ 22

The Market will Grow

At the CAGR of:

5.71%

The Forecast Market

Size for in USD:

$7.71 Billion B

b0d51e3055fd6f23ff6a384a6e091406.svg

Market Restraints:

  • Regulatory Challenges: The personal care industry is highly regulated and several governing bodies such as the FDA (Food and Drug Administration) in the US and the European Medicines Agency (EMA) in Europe set strict guidelines and standards. Complying with these regulations can be expensive and time-consuming, often requiring extensive testing and documentation to ensure product safety and efficacy.

  • Fluctuation in The Price of Raw Materials: The prices of raw materials used in personal care products, such as natural oils, surfactants and specialty chemicals, can vary widely. Fluctuations in the prices of these materials can significantly affect the production costs and profit margins of producers, making it difficult to maintain consistent pricing.

  • Supply Chain Disruptions: The global supply chain for personal care ingredients can be disrupted by a number of factors, including natural disasters, geopolitical tensions and pandemics. Such disruptions can lead to shortages of key ingredients, production delays and increased costs.

  • Consumer Preferences and Trends: Changing consumer preferences and trends have a strong impact on personal hygiene. The growing demand for natural and organic products, concerns about synthetic chemicals and the preference for sustainable and environmentally friendly products may force manufacturers to redesign their products, which may result in additional costs and research.

  • Intense Competition: The personal care ingredients market is highly competitive with many players ranging from large multinationals to small specialty ingredients. Fierce competition can lead to price wars, shrinking profit margins and a constant need to innovate to stay ahead of the market.

  • Environmental and Ethical Issues: Growing awareness of the environmental impact of personal care products has led to greater scrutiny of the ingredients used. Concerns about the biodegradability of ingredients, the use of microplastics and the source of raw materials such as palm oil have led to stricter environmental regulations and the need for more sustainable practices.

  • Technical Barriers: Developing new and innovative personal care ingredients often requires significant investment in research and development. Small and medium-sized enterprises (SMEs) may have challenges in allocating sufficient resources to R&D, which limits their ability to compete with larger firms with broader technology capabilities.

  • Health and Safety Issues: Health or safety issues with personal care products can result in negative publicity, product recalls and legal liability. Ensuring ingredient safety and efficacy through rigorous testing is important, but it can also be expensive and time-consuming.

  • Intellectual Property Issues: Protecting the intellectual property (IP) rights of new formulations and ingredients is critical but can be difficult. Infringement of patents and trademarks can lead to litigation, which can be costly and detrimental to business.

Recent Development:

  • June 24, 2024 Ashland Inc. (NYSE: ASH) announced  that Omar Irani will join the company as vice president strategy, mergers and acquisitions, and portfolio management.

  • June 20, 2024 Wacker Chemie AG strengthens its focus on silicone specialties in Europe with the construction of a new production site.

Personal Care Ingredients Market TO (USD BN)

Personal Care Ingredients Market

CAGR OF

5.71%

Personal Care Ingredients Market

b0d51e3055fd6f23ff6a384a6e091406.svg
Analytica Global 7.71 Billion %

Frequently Asked Questions (FAQs):

Q.1 What is projected size and market growth of Personal Care Ingredients Market?

Ans: Personal Care Ingredients Market size was valued at USD 4.5 Billion in 2023 and is projected to reach USD 7.71 Billion by 2032, CAGR of 5.71% from 2024 to 2032

Q.2 What segments are covered in the Personal Care Ingredients Market?

Ans: Personal Care Ingredients Market is Segmented on the basis of Type, Application, and Region.

Q.3 What are the top players operating in the Personal Care Ingredients Market?

Ans: BASF SE, Dow Inc., Ashland Global Holdings Inc., Clariant AG, Croda International Plc, Evonik Industries AG, Lonza Group Ltd., Solvay S.A., Wacker Chemie AG, Eastman Chemical Company, Symrise AG, Akzo Nobel N.V., Givaudan, Merck KGaA, DSM Nutritional Products.

Q.4 Which region shows the most rapid expansion in the Personal Care Ingredients Market?

Ans: Asia Pacific region shows the most rapid expansion in the Personal Care Ingredients Market. 

Personal Care Ingredients Market - Global Outlook & Forecast 2024-2029

Analytica Global
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Analytica Global
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Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global

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