Cosmetics & Personal care ingredients Market to 2023:
Cosmetics & personal care ingredients refers to the raw materials used for manufacturing the cosmetic products. The ingredients can be synthesized chemically or naturally derived which are later blended and formulated to enhance the properties of various cosmetic products.The MENA/G.C.C./China Cosmetic & personal care ingredients market is expected to grow at CAGR of 5.5%. The prominent factors fuelling the growth of Cosmetics & personal care ingredients market are, the bolstering growth of cosmetic industry across the target markets coupled with high level of spending and dominance of hair care, skincare, fragrance and shower products with multi-functional ingredients to boost personal care ingredients market. However, the market will be hampered by increasing ban or restrictions on various ingredients market.
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Key players of the MENA/G.C.C./China Cosmetic & personal care ingredients market are SABIC, Artec Chemical Company Limited, Dongming Jujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Chemanol and DOGOIDE Group among others.
- Cosmetics & Personal Care manufacturers
- Traders and distributors of Cosmetics & Personal Care
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
Thus, with capacity expansion and migration of cosmetic manufacturers in the Middle East & Africa market to offer lucrative opportunities for cosmetic ingredient manufactures. Furthermore, growing prominence of halal certification cosmetic and personal care formulations in G.C.C. and MENA regions and increasing inclination towards multi-functionality products as a product development by manufacturer are increasing the demand of cosmetics & personal care market.
The different categories of ingredients used in manufacturing of cosmetics include, emulsifiers, emollients, rheology modifiers, surfactants, and antioxidant among others. Ingredients used under this categories include — tocopherols, dimethicone, parabens, formaldehydes, sodium lauryl sulphate, titanium dioxide, glycerine and alcohols among others. The formaldehyde market segment is estimated to account for maximum market share of 16.87% in terms of value. The major factors such as increasing concern about skin lightening and color among the consumers are anticipated to drive the market demand over the forecast period. In terms of application of these ingredients, the market is segmented into — skincare, hair care, fragrance, color cosmetics, bath & shower and other cosmetic products. The skincare segment is estimated to be the prominent revenue generating segment over other application segments in the cosmetic and personal care ingredients market.
- MENA/G.C.C./China cosmetic & personal care ingredients market is projected to reach USD 1,530 million in 2016 and expected to reach USD 2,209.5 million in 2023 with a CAGR of 5.5%
- China accounted for largest share due to easy availability of raw material, lower labor cost and increasing per capita spending on the cosmetics and personal care products in the country, increasing demand of multifunctional products leading to specialty ingredients demand boost.
- Key players including SABIC, Artec Chemical Company Limited, Dongming Jujin Chemical Co., Ltd., and Ittihad International Chemicals Trading LLC (IICT) among others are investing more into product development and capacity expansion in terms to capture the market share.
- China dominate the market accounting for 66%, followed by MENA and G.C.C. China is forecast to be the fastest growing region in cosmetic & personal care ingredients market at close to 5.89% CAGR from 2017 to 2023.
- Formaldehyde accounted for the largest market share in 2016, and is estimated to remain the same owing to its usage as preservatives and additives in personal care & cosmetic products. Glycerols are second highest segment owing to increasing demand application segment including skin creams, moisturizers and color cosmetics products.
- The skincare segment is estimated as dominating segment owing to increasing demand of anti-aging skincare products in youth population. Regionally, a similar market trend has been observed across different regions covered.
MENA/G.C.C./China Cosmetic & personal care ingredients market is majorly segmented on the basis of Type, End Use and Region. On Basis of Type, MENA/G.C.C./China cosmetic & personal care ingredients market is segmented into tocopherol, dimethicone, parabens, titanium dioxide, sodium lauryl sulphate, sodium laureth sulphate, formaldehyde, benzones, isopropyls, glycerols, others. Based on end use, cosmetic & personal care ingredients is segmented into skincare, hair care, bath & shower, colour cosmetics, fragrance, others. Based on region market is divided into Middle East & North Africa, China and Gulf Countries including Saudi Arabia, Kuwait, Oman, Qatar, Bahrain, and UAE.
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The report about MENA/G.C.C./China Cosmetic & personal care ingredients market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report further provides detail information about strategies used by top key players in the industry. It also gives a broad study about different market segments and regions.
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