WASHINGTON, July 03, 2023 (GLOBE NEWSWIRE) -- The Global Personal Care Ingredients Market accounted for USD 12.1 billion in 2022 and is expected to have USD 16.46 billion by 2030 at a CAGR of 4.5% over the projected period of 2023-2030.
The Personal Care Ingredients Market is one of the fastest-growing markets economically, and consistent expansion is expected in the forecast period. Regardless of the industry's difficulties, various factors could influence its growth. This report evaluates current trends and future developments to provide a comprehensive industry view. It also includes information on the major industry players and their expansion initiatives.
The research examines worldwide producers and suppliers in-depth, as well as their recent state and future possibilities. It also discusses the global drivers of demand for this market in-depth, such as increased investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors anticipated to accelerate the Personal Care Ingredients market growth over the forecast period. Growing consumer knowledge about the hazardous effects of synthetic chemicals is one of the major factors driving the Personal Care Ingredients industry. Consumers are demanding natural and organic components in their personal care products as they become more health conscious. As manufacturers increasingly use natural components such as plant extracts and essential oils, this trend has fueled the expansion of the Personal Care Ingredients industry. Furthermore, rising disposable incomes and an increase in the number of working women have fueled demand for personal care products, propelling the ingredients industry forward.
We Forecast that by 2030, the growing popularity of organic and natural personal care products is anticipated to drive the Personal Care Ingredients market. Consumers are increasingly seeking natural and plant-based alternatives as they become more known of the detrimental effects of synthetic substances on skin and hair. As a result, demand for plant-derived compounds such as essential oils and herbal extracts has increased, propelling the Personal Care Ingredients market forward. Furthermore, stringent rules governing the use of synthetic chemicals in personal care products have increased the demand for natural components.
The Asia Pacific area is the largest region in the Personal Care Ingredients market, owing mostly to rising demand for personal care products as a result of rising disposable income, urbanization, and increased awareness of skincare and general personal cleanliness. Because of the existence of top personal care product manufacturers and the growing demand for natural and organic ingredients, China and Japan are the key contributors to Asia Pacific market growth. The growing popularity of anti-aging, hair care, and dental care products in the region is driving market expansion. Furthermore, the advent of e-commerce platforms for beauty and personal care items is propelling market expansion in the APAC region.
Market Dynamics
Rising Demand for Multifunctional Ingredients Drives the Market
One of the key factors driving the Personal Care Ingredients market is the rising demand for multifunctional ingredients. As Individuals have become more aware of the ingredients added to their personal care products and their benefits, they are seeking products that not only meet their basic needs but also offer additional benefits such as moisturizing, anti-aging, and sun protection. Multifunctional ingredients can save time and money for consumers as they can replace the use of multiple products with a single one, leading to increased demand for such ingredients in the personal care industry.
Anti-Aging and Skin Rejuvenation Products to Promote Market Growth
Customers are looking for solutions to help remove fine lines, wrinkles, and age spots as they become more aware of the benefits of preventative skincare. This has led to an increase in demand for anti-aging ingredients, including retinol, hyaluronic acid, and collagen. As a result, makers of personal care components are spending on research and development to generate new and novel compounds that address these specific concerns while also meeting consumers' evolving requirements.
Top Players in the Global Personal Care Ingredients Market
- BASF SE (Germany)
- The Dow Chemical Company (U.S.)
- Solvay (Belgium)
- Evonik Industries AG (Germany)
- Clariant AG (Switzerland)
- Ashland Global Holdings Inc. (U.S.)
- Nouryon Chemicals (Netherlands)
- Croda International PLC (UK)
- Lubrizol Corporation (U.S.)
- Adeka Corporation (Japan)
- Air Liquide (France)
- Corbion N.V. (Netherlands)
- Eastman Chemical Company (U.S.)
- Elementis PLC (UK)
- Dupont (U.S.)
- Innospec Inc. (U.S.)
- Merck KGAA (Germany)
- Momentive Performance Materials Inc. (U.S.)
- Kao Corporation (Japan)
- Galaxy Surfactants Ltd. (India)
- Givaudan S.A. (Switzerland)
- Oxiteno (Brazil)
- Symrise AG (Germany)
- Stepan Company (U.S.)
- Wacker Chemie AG (Germany)
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Top Trends in the Global Personal Care Ingredients Market
- One trend that Vantage Market Research (VMR) expects to see in the Personal Care Ingredients Market is the use of natural and organic ingredients in personal care products. As consumers are now more aware of the detrimental consequences of synthetic chemicals in skincare and haircare products, demand for natural and organic ingredients rises. In response to this trend, brands are including more plant-based ingredients in their formulations and marketing their products as eco-friendly.
- Another trend that VMR predicts will continue in Personal Care Ingredients Market is Anti-pollution products. These products contain chemicals that protect the skin from environmental irritants like air pollution, UV radiation, and blue light. Brands are releasing anti-pollution skincare products to protect the skin from these damaging environmental effects. This trend is likely to grow as more brands incorporate anti-pollution chemicals into their skincare formulations.
Top Report Findings
- Based on Ingredient Type, the Personal Care Ingredients market is divided into several categories, including emollients, surfactants, emulsifiers, rheology modifiers, and others. Emollients soften and moisturize the skin, whereas surfactants clean and eliminate grime. Emulsifiers combine oil and water-based chemicals, whereas rheology modifiers regulate the consistency and texture of personal care solutions. Fragrances, preservatives, and UV absorbers are among the other constituents.
- Based on Function, personal care components differ greatly depending on the product. Anti-acne compounds like salicylic acid, for example, help to unclog pores and reduce inflammation, but anti-aging components like retinol can minimize the appearance of fine lines and wrinkles. Moisturizing chemicals like glycerin keep the skin hydrated, while UV absorbers like oxybenzone keep the skin safe from sun damage. Exfoliating, whitening, and pore-refining are some of the other functions.
- Based on Application, Personal Care Ingredients are used in a wide variety of products. Shampoos and conditioners, as well as lotions and anti-aging treatments, all contain personal care chemicals. Consumers seek solutions that target specific skin conditions such as acne, dryness, hyperpigmentation, and aging, which account for the majority of the market. Consumers demand products that provide volume, shine, whiteness, and long-lasting coverage in the haircare, oral care, and color cosmetics industries. Natural and organic personal care products are also gaining popularity, owing to customer interest in environmentally friendly and sustainable products.
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Hair Care Products to Generate Over 27% Revenue
Vantage Market Research analyzed the market for Personal Care Ingredients Market to understand its recent situation and potential future growth factors. For better understanding, based on the Application, the Personal Care Ingredients Market is categorized into; Skin Care, Hair Care, Oral Care, Makeup, Fragrances, and Others (Deodorants, Sunscreens, etc.).
According to our projections, hair care products accounted for more than 27% of overall sales in 2030 in this segment due to several reasons. Some of the primary drivers of the hair care ingredients market include the rising trend of maintaining healthy and lustrous hair, increased awareness about personal grooming, and changing lifestyle patterns. Furthermore, the advent of sustainable, organic, and natural-based hair care components is likely to accelerate the expansion of this market. Furthermore, the growing popularity of hair dye and colorants, as well as the rise in demand for hair care products among the aging population, are likely to drive the market growth of Personal Care Ingredients in the hair care category. As a result of all of these considerations, this area is a potential market driver for Personal Care Ingredients.
The Skincare Industry accounted for the majority of sales in the Personal Care Ingredients Market in 2022. Due to rising consumer demand for natural and organic products, the skin care category has the greatest market share in the Personal Care Ingredients market. Consumers are more inclined to safer and healthier alternatives as they become more aware of the adverse consequences of synthetic chemicals. Furthermore, factors such as an aging population, pollution, and stress have boosted demand for anti-aging and rejuvenating goods. Furthermore, the availability of a diverse range of skincare products, such as sunscreens, moisturizers, cleansers, and anti-acne creams, contributes to the segment's growth. Companies are introducing novel components such as prebiotics and microbiome-friendly compounds to improve the efficacy of their products, which is further fueling the growth of the skincare category.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Personal Care Ingredients Market Forecast Report (2023-2030).
Global Personal Care Ingredients Market Segmentation
By Ingredient Type
- Synthetic Ingredients
- Natural Ingredients
- Blended Ingredients
- Polymers
- Humectants
- Preservatives
- Emollients
- Surfactants
- Emulsifiers
- Rheology Modifiers
- Conditioning Polymers
- Other Ingredient Types
By Function
- Cleansing Agents
- Moisturizing Agents
- Exfoliants, Emollients
- Anti-Aging Agents
- Anti-Microbial Agents
- Other Functions
By Application
- Skin Care
- Hair Care
- Oral Care
- Makeup
- Fragrances
- Other Applications
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 12.1 Billion |
| Revenue Forecast by 2030 | USD 16.46 Billion |
| CAGR | 4.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | BASF SE, The Dow Chemical Company, Solvay, Evonik Industries AG, Clariant AG, Ashland Global Holdings Inc., Nouryon Chemicals, Croda International PLC, Lubrizol Corporation, Adeka Corporation, Air Liquide, Corbion N.V., Eastman Chemical Company, Elementis PLC, Dupont, Innospec Inc., Merck KGAA, Momentive Performance Materials Inc., Kao Corporation, Galaxy Surfactants Ltd., Givaudan S.A., Oxiteno, Symrise AG, Stepan Company, Wacker Chemie AG |
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