Wilmington,Delaware, Aug. 18, 2023 (GLOBE NEWSWIRE) -- Global Personal Care Ingredients Market is estimated at US$ 10.2 billion in 2023 and is expected to grow at a significant CAGR of over 5.3% over the forecast period of 2023-2028, market analysis by RationalStat
Market Scope and Report Overview
Personal care items followed the trend toward natural and environmentally friendly goods. Companies started including such substances in their formulations as a result of consumer demand for products with plant-based, cruelty-free, and ecologically friendly ingredients. Personal hygiene was becoming more and more connected to general health and wellness. Ingredients with potential health benefits as well as cosmetic ones were becoming more popular.
According to a deep-dive market assessment by RationalStat, the global personal care ingredients market has been analyzed on the basis of market segments, including type, application, and geography/ regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2019-2028.
Market intelligence for the global personal care ingredients market covers market sizes on the basis of market value (US$/EUR Million) and volume (‘000 tons) by various products/services/ equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global personal care ingredients market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Period Covered include data for 2019-2028 along with year-wise demand estimations
The personal care ingredients market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.
RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.
The global personal care ingredients market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.
In the competition analysis section, the global personal care ingredients market provides a detailed competition benchmarking analysis based on the market share of the leading companies/brands/ producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.
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Global Personal Care Ingredients Market: Segmental and Market Share Analysis
Based on type, the emollient segment is expected to grow at a CAGR of 6.5% from 2022 to 2030 due to its adaptability in skin care, hair care, mouth care, cosmetics, and hygiene products.
Based on application, in 2022, the personal care ingredients market was dominated by the skin care category since it includes a wide variety of items for skin care requirements, such as anti-aging, anti-acne, and sun protection.
Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment
In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.
The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.
In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia’s war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global personal care ingredients market include,
- In January 2022, BASF SE launched the peptovitae series a new range of derma cosmetic peptides that may revolutionize the cosmetic industry. These peptides may allow manufacturers to innovate different solutions for skin concerns.
Some of the prominent players that contribute significantly to the global personal care ingredients market growth include Ashland Global Holdings Inc, BASF SE, Berkshire Hathaway Inc., Clariant, Croda International Plc, Dow Inc, Evonik Industries, M. Huber Corporation, KCC Corporation, Solvay S.A. and among others.
RationalStat has segmented the global personal care ingredients market based on type, application, and region
- Global Personal Care Ingredients Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2019-2028) Analysis by Type
- Rheology Control Agents
- Emollients
- Surfactants
- Emulsifiers
- Conditioning Polymers
- Others
- Global Personal Care Ingredients Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2019-2028) Analysis by Application
- Skin Care
- Hair Care
- Makeup
- Oral Care
- Others
- Global Personal Care Ingredients Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2019-2028) Analysis by Region
- North America Personal Care Ingredients Market
- US
- Canada
- Latin America Personal Care Ingredients Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Personal Care Ingredients Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Personal Care Ingredients Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Continue!
- North America Personal Care Ingredients Market
- Leading Companies and Market Players
- Ashland Global Holdings Inc
- BASF SE
- Berkshire Hathaway Inc.
- Clariant
- Croda International Plc
- Dow Inc
- Evonik Industries
- M. Huber Corporation
- KCC Corporation
- Solvay S.A.
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Key Questions Answered in the Personal Care Ingredients Report:
- What will be the market value of the global personal care ingredients market by 2028?
- What is the market size of the global personal care ingredients market?
- What are the market drivers of the global personal care ingredients market?
- What are the key trends in the global personal care ingredients market?
- Which is the leading region in the global personal care ingredients market?
- What are the major companies operating in the global personal care ingredients market?
- What are the market shares by key segments in the global personal care ingredients market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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