Published: Mar-2021 | Format: PDF | Market Research Store | Number of pages: 120 | Code: MRS - 828546
According to the report published by Zion Market Research, global demand for the personal care ingredients market was estimated at approximately USD 11.0 Billion in 2019 and is anticipated to generate revenue of around USD 14.90 Billion by end of 2026, growing at a CAGR of around 4.6% between 2020 and 2026.
Personal care ingredients are the raw materials used to make skincare items all over the world. These ingredients can be used in skincare products as antifungal, anti-aging, skin conditioning, among other properties. Ingredients may also be divided into active and passive categories. Anti-aging agents, exfoliants, conditioning agents, and UV shielding agents are examples of active ingredients, while surfactants, preservatives, colorants, and polymer ingredients are examples of inactive ingredients.
The major factor responsible for driving the market includes the rising disposable income of the consumers across the globe along with the improved standard of living of the working class. The rising awareness of the consumers towards beautification and the aging population has triggered the demand for market growth. The rising use of the ingredients in the production of organic and natural personal care products is expected to boost demand even further. Other factors projected to fuel demand growth include increased R&D investments, technical advances in ingredient production, and cost-effective manufacturing technology. Aloe vera, jojoba oil, and fish oil are only a few of the main raw ingredients used in the production of organic and herbal personal care products. They're also used to make makeup, as well as hair, skin, and oral care products. Public understanding of the adverse effects of organic, synthetic chemical-laden goods is expected to boost the market's growth prospects.
The market is segmented for the personal care ingredients is based on the product, application, chemical function and properties, and region. The product segment is further divided into UV absorbers, hair fixative polymers, antimicrobials, emulsifiers, emollients, surfactants, conditioning polymers, rheology control agents. The chemical function and properties segment is bifurcated into opacifiers, chelating agents, humectants, cream bases, shine concentrates, active ingredients, thickeners, protein products, waxes, lipid layer enhancers, and others. The application segment is divided into oral care, skin care, and hair care. The regional segmentation includes North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. Surging awareness related to skincare hygiene along with the rising number of working women across the globe boosts these segments in the global market.
The region of Europe is anticipated to dominate the market owing to the presence of several reputed personal care product companies along with the rising investment in the R&D activities for developing organic personal care products owing to the rising demand among the consumers. The region of Asia Pacific is predicted to show prominent growth in the coming years owing to the rising urbanization along with high population and surging purchasing power among the working class.
The major players dominating the market in terms of revenue and development are Wacker Chemie AG, Croda International Plc, Evonik Industries, Ashland Inc, Momentive Performance Materials Inc., Dow Corning, BASF SE, J.M. Huber Corporation, Clariant, Solvay S.A, and Others. These key players in order to obtain a reputed position in the global market have implemented several strategies such as signing agreements, bonds, contracts, partnerships, joint ventures, new product launches, collaborations, and mergers & acquisitions.
Personal Care Ingredients
Personal Care Ingredients