Growth opportunities in the personal care ingredients market look promising over the next six years. This is mainly due to the rising purchasing power of consumers, increase in demand for higher quality personal care ingredients, and growth in multifunctional personal care ingredients.
Request for a FREE Sample Report on Personal Care Ingredients Market
Personal Care Ingredients Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The increasing purchasing capacity of consumers, primarily in developing nations, led by the boost in multifunctional personal care ingredients is one of the key drivers stimulating the growth of the global personal care ingredients market. Also, factors like rapid urbanization, the increasing number of working women, and the remarkable lifestyle changes are indirectly responsible for the market growth. The boost in the higher quality personal ingredients demand is further accelerating the market growth. Moreover, the ongoing expansion across the leading players will strengthen the market share. For instance, BASF SE, in 2020, entered into a partnership contract with BTC Europe as a distribution partner for its care creation portfolio. The partnership helped to enhance the efficiency and simplification of the supply chain for these customers.
However, the widespread COVID-19 pandemic has negatively influenced the personal care sector growth which has impacted the growth of the industry. Also, the shift towards essential products is hampering the demand for other products. This fall in non-mandatory expenses, such as hair styling and makeup products, fragrances is adversely impacting the market growth.
Type Segment Drivers
Based on the ingredient type, emollients are projected to expand at a higher CAGR during the forecast period owing to their escalating use in several products like cleaners, deodorants, and antiperspirants. Emollients are highly effective to sooth and heal dry skin caused by frequent washing of hands or working with harsh chemicals or reasons such as atopic dermatitis, diabetes, hypothyroidism, among others.
Regional Drivers
On the basis of regional coverage, Europe is predicted to witness a faster to grow at a higher CAGR over the forecast period. The enormous demand for personal care ingredients, mainly for luxury products such as hair care, makeup products, oil care, and skincare products, contributes to the growth of the market. Additionally, the growing demand for good quality natural cosmetics will drive market growth.
Personal Care Ingredients Market’s Leading Manufacturers:
Lonza
Croda International Plc
Ashland
EVONIK
BASF SE
Solvay
The Lubrizol Corporation
Nouryon
Clariant
Dow
Personal Care Ingredients Market Segmentation:
Segmentation by Ingredient Type:
Emollients
Surfactants
Conditioning Polymers
Rheology Modifiers
Emulsifiers
Others
Segmentation by Application:
Skin care
Hair care
Make-up
Oral Care
Others
Segmentation by Region:
North America
United States of America
Canada
Asia Pacific
China
Japan
India
Rest of APAC
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com