Personal Care Ingredients Market

Personal Care Ingredients Market Size (2023-2028)

The personal care ingredients market was expected to value USD 17.15 billion in 2022 and is anticipated to reach  USD 21.22 billion by 2028. The market is growing value at a CAGR of 6.2 % from 2023-2028

In this decade, personal care products have become essential for every person’s life. It includes skincare products such as creams, lotion, petroleum jelly, sunscreen products, and hair care products like hair oil, hair gel, conditioner, and shampoo in the market. Consumers are having more awareness and use of Bio-based as well as natural products instead of synthetic chemical products while a number of organizations started only natural care production. The increased demand for personal care products influences the global personal care ingredients market. The need is for ingredients such as hand sanitizers, moisturizers, antimicrobials, emulsifying agents, and anti-aging. 

All companies have started to invest money into newer technologies and R&D departments that will drive the growth of the personal care ingredients market. The extracted products from plants like Tulsi, Aloe Vera, Neem, and animals like cod liver oil, and fish oil are used in the manufacturing of Personal care products. Natural and organic ingredients have one of the significant advantages is the shelf life of products which is more than two years, such as shampoos and conditioners. Still, some are only for six months, such as moisturizers. Newly many innovative additions to the market help to increase the demand for products. Natural products do not cause any harmful infection, or they don’t have any side effects like skin rashes, or allergies. Several organizations are introducing new products such as surfactants, polymers, emollients, and preservatives. In 2019, polymer created significant market trends. 

Personal Care Ingredients Market Recent Developments in the Industry:

• Dabur International had acquired 100 percent share capital of Discaria Trading, for expanding their market into South Africa, including ingredients such as Real juices and Vatika

• The Indian cosmetic industry has an overall market growth of 25% to $ 21 billion by 2025. Rising awareness of special beauty products, increasing personal grooming, and changes in lifestyle, and patterns are expected to boost the personal care ingredients industry market. 

• Brands like soul trees are using different oils in manufacturing skin care products as well as color cosmetics. Products are a demand for skincare like Moringa Oil, Marula oil, Olive Oil, and Almond Oil. 

• Wipro consumer care has acquired Conway Corporation, which has popular products such as Iwori and IQ. Due to this acquisition, Wipro successfully entered South African and African markets. The leading brand categories such as Hand creams, Body sprays, Baths and showers, and kids' products. 

• Himalaya has the goal to further increase products in the men’s grooming segment in 2018. The company launched new products in hair care and skin beauty for men. Also, this company operates fewer than two product segments, namely baby care, and personal care. 

Personal Care Ingredients Market-Drivers & Restraints:

Huge investments in R&D activities are being made in order to create the latest innovations in personal care ingredients that are driving the global personal care ingredients industry expansion. Rising customer income levels in the growing countries and more demand for personal care products drive the global personal care ingredients industry expansion. The increasing aging population and increasing customer inclination towards beautification in young and aged individuals is boosting the global industry expansion. Rising demand for anti-aging products and the addition of several compatible ingredients in the same product propel the personal care ingredients industry development in the coming years. Nevertheless, the side effects of personal care ingredients, time-consuming outputs, and uncertainties on product efficiency hinder the global personal care ingredients industry expansion.

There has been a high escalation in the demand for anti-aging products as several countries are growing on the basis of population density and economic standing, hence having a high customer base capable of buying personal care and skin care product solutions. Due to the changing lifestyle and rising buying power of customers in developing regions, there has been a substantial increase in the call for personal care ingredients. In addition to that, there has been a rising demand for multifunctional ingredients that has also improved the personal care ingredients industry. Also, the global economy and policies positively affect the expansion of this industry. As the economies recover particularly in underdeveloped regions, a huge population requirement for personal care ingredients also improves. Nevertheless, stringent government rules imposed on personal care ingredient products and rising demand for natural ingredients are certain challenging factors hampering the expansion of this industry.

The cosmetic market does not approve directly by government regulatory bodies. The availability of natural products is limited by the perception of the consumer about synthetic products, which is also impeding business expansion.

PERSONAL CARE INGREDIENTS MARKET REPORT COVERAGE:

Personal Care Ingredients Market Segmentation:

Personal Care Ingredients Market - By Chemical Function:

• Chelating Agents

• Cream Bases

• Active Ingredients

• Protein Products

• Lipid Layer Enhancers

• Humectants

• Shine Concentrates

• Thickeners

• Waxes

• Opacifiers

• Others

Personal Care Ingredients Market - By Application:

• Skin Care

• Oral Care

• Hair Care

The skincare sector includes specialized skin care, skin whitening, and male grooming. The oral care sector consists of mouthwash, whitening, and toothpaste. Furthermore, hair care includes natural extract, hair color range, and shampoos.

Personal Care Ingredients Market - By Product:

• UV Absorbers

• Antimicrobials

• Emollients

• Conditioning Polymers

• Hair Fixative Polymers

• Emulsifiers

• Surfactants

• Rheology Control Agents

The rising use of natural and green ingredients in the making of personal care products is estimated to contribute to the industry expansion in the future.

Personal Care Ingredients Market – By Region:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Asia-Pacific is the leading region in the global personal care ingredients industry due to the factor that it is the highest customer of these ingredients. Escalating disposal income and a high amount of increasing spending power of customers greatly affect the worldwide personal care ingredients industry. Europe and North America follow the same trend; rising customer inclination towards beautifying products drives the industry in these regions. Fluctuating overview of the individuals for looking young and good-looking in Western nations is boosting the call of a worldwide personal care ingredient industry.

Personal Care Ingredients Market Key Players:

1) BASF SE  (Germany)

2) Croda International (U.K.)

3) Evonik Industries AG (Germany)

4) Lonzo Group ltd (Switzerland)

5) Solvay SA ( Belgium)

6) Clariant AG ( Switzerland)

7) Akzo Nobel N.V. (Netherland)

8) Cargill

9) Lubrizol Corporation

10) Huntsman International

11) Wacker Chemie ltd.

12) DOW (US) 

13) Pharmacos ( INDIA)

14) Coptis (US)