The Personal Care Ingredients market is projected to reach USD 13.9 billion by 2025, at a CAGR of 4.0% from USD 11.4 billion in 2020. 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. The personal care industry is driven by various ingredients and chemicals. The market size of these ingredients is growing rapidly because of their various applications, not just in the personal care industry. This is boosting the personal care industry. Some of the major ingredients are surfactants, rheology modifiers, emulsifiers, and emollients.
Europe and North America are characterized by extensive experience and knowledge in the personal care ingredients market. These two regions are characterized by growing demand for natural and bio-based personal care products. The market is experiencing rapid growth in emerging economies. Development in different personal care products coupled with development in the applications, are driving the demand for improved products in both developed and developing countries. Some of the major players investing in R&D are BASF SE (Germany) and Dow (US).
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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 2019. This is mainly because emollients contain various compounds with soothing and smoothening properties, which establish a protective barrier on the skin’s surface. Everyday use of emollients can be effective in various skin-related problems, such as eczema, psoriasis, and ichthyosis. They are used in skincare products in various forms, such as gels, lotions, and emulsion creams. Petroleum jelly or mineral oil-based emollients are the most commonly used emollients.
Europe is the largest market for personal care ingredients , followed by APAC and North America. This is owed to the higher price of personal care ingredients in Europe. Moreover, the inclination towards natural & organic personal care and easily biodegradable products is another factor which has led to higher price and its higher market size in terms of value (as these natural raw materials are to be imported from APAC as they are found in abundance in countries such as Indonesia and Malaysia). The presence of major luxury personal care & cosmetic manufacturers in the region, such as L’Oréal (France), Beiersdorf (Germany), and Clarins (France), is another factor that is driving the demand for personal care products and thereby personal care ingredients. Moreover, the demand for luxury skin care products, cosmetics, and perfumes is on the rise in European countries. This has led to their increased production, thereby driving the demand for personal care ingredients.
The key market players profiled in the report include as BASF SE (Germany), Dow (US), Clariant (Switzerland), Croda International Plc. (UK), Ashland (US), Solvay (Belgium), Evonik Industries AG (Germany), Nouryon (North Holland), and Lonza (Switzerland), among others.
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