The global personal care ingredients market is projected to reach a value of US$ 19,452 Million in 2032, with the market growing at a moderate CAGR of 4.9% over the forecast period of 2022 to 2032. Climbing up from a value of US$ 12,056.20 Million in 2022, the personal care ingredients market is likely to be driven by the heightened emphasis on personal care and self-grooming.
The increasing investments in research and development of skin-specific products is supposed to augment the market expansion of personal care ingredients over the projected period.
Personal care ingredients are synthetic chemicals that are utilized in different cosmetics and beauty products. People now have access to a variety of international personal care ingredients owing to rising globalization and escalating digitalization. People all over the globe are aware of various regional personal care ingredients due to a combination of globalization and technology. This bodes well for the future prospects of the personal care ingredients market.
The immense stress on hygiene and grooming along with a desire to look good across all age groups is propelling the market growth of personal care ingredients market. The escalating influence of social media also creates an emphasis on personal care which facilitates the growth for the personal care ingredients market. Moreover, rising start-up activity with regards to product innovation keeping in mind the different skin types and age group will positively influence the target market growth.
Changing consumer preferences coupled with an urban and active lifestyle, especially of the younger generation, has generated more market possibilities. Conventionally, these ingredients have registered a steady demand, however, in the past few years, shifting consumer preference toward herbal and organic, has altered the status quo.
The growing inclination for herbal and organic products may further stimulate the demand for personal care ingredients in the market. At the same time, a growing awareness among consumers about the harmful effects of some of these personal care ingredients may stunt the market growth for the personal care ingredients.
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"Rising focus on personal hygiene and grooming activities across all age groups and genders is expected to strengthen the market growth of personal care ingredients over the forecast period," says an FMI analyst.
Key Takeaways:
Preference for natural products may propel the market growth.
Growing consumer awareness about harmful effects may hinder the market prospects.
In 2022, North America is expected to account for about 21.3% of the total market share.
Europe is predicted to acquire around 30.4% of the market share by the end of 2022.
Asia Pacific market is predicted to be driven by the use of natural ingredients.
Based on product type, emollients are expected to dominate the market.
Competitive Landscape
Croda International plc. (U.K.), BASF SE (Germany), Ashland Global Inc. (U.S.), Evonik Industries AG (Germany), Akzo Nobel N.V. (Netherlands), Clariant AG (Switzerland), The Dow Chemical Company (U.S.), Wacker Chemie AG (Germany), Lonza Group Ltd. (Switzerland) and Solvay SA (Belgium) and Beiersdorf., and others, are some of the major players in the personal care ingredients market that are profiled in the full version of the report.
Major market players are focusing on product innovation and development as well as employing a more environment-friendly operations strategy to strengthen their market penetration.
More Insights into the Personal Care Ingredients Market Report
In its latest report, FMI offers an unbiased analysis of the global personal care ingredients market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented on the basis of product type (emollients, surfactants, emulsifiers, antimicrobials, UV absorbers, conditioning polymers, rheology modifiers, colorants and preservatives), application (skin care, make-up, oral care, hair care), consumer (personal care manufacturer, chemical industries, end-use industries), and region.
According to the latest FMI reports, based on region, the personal care ingredients market in the U.S is predicted to present substantial growth over the forecast period. The presence of a massive consumer base coupled with heightened demand for skin care products will propel the country's personal care ingredients market to grow during this period of observation.
The personal care ingredients market in Europe is expected to account for 30.4% of the overall market share in 2022 and continue its streak of growth over the assessment period. The release of a wide range of products for all age groups is expected to fuel the regional market growth.
Based on segmentation, by product type, the emollients segment will likely rule the market, accounting for 35% of the global market share in 2022.
Key Segments Profiled in the Personal Care Ingredients Industry Survey
Personal Care Ingredients Market by Application:
Personal Care Ingredients for Skin Care
Personal Care Ingredients for Make-up
Personal Care Ingredients for Oral care
Personal Care Ingredients for Hair Care
Personal Care Ingredients Market by Product Type:
Emollients
Surfactants
Emulsifiers
Antimicrobials
UV Absorbers
Conditioning Polymers
Rheology Modifiers
Colorants and Preservatives
Personal Care ingredients by Consumer:
Personal Care Manufacturer
Consultants in Chemical Industries
End-use-Industries
Personal Care Ingredients by Region:
North America Personal Care Ingredients Market
Latin America Personal Care Ingredients Market
Europe Personal Care Ingredients Market
Asia Pacific Personal Care Ingredients Market
Middle East & Africa Personal Care Ingredients Market