by on January 28, 2023

Personal Care Ingredients Market was valued USD 11.1 billion in 2021, and to reach USD 15.9 billion in 2029, and growing at a CAGR of 4.6% from 2022-2029.

The factors driving the growth of Personal Care Ingredients Market includes rising consciousness amongst consumers about maintaining personal hygiene, growing demand for hair care and skincare products around the world, increasing popularity of cosmetic products and improvements in the living standards. Moreover, growing adoption of advanced technologies by manufacturers, increase in the working women population across the globe, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, rising disposable incomes, strategic mergers and collaborations between industry leaders and growing population growth rates, are further contributing towards the Personal Care Ingredients Market size.

However, growth of the Personal Care Ingredients Market is hindered due to Government regulations regarding the production of cosmetic products.

The leading players operating in the Personal Care Ingredients Market are Croda International Plc, The Lubrizol Corporation, BASF SE, Dow, Solvay, Lonza, EVONIK, Nouryon, Clarian and Ashland, among others. 

Based on Ingredient Type, the Emollients segment is predicted to grow at a robust CAGR during the forecast period

Increasing application of emollients in cleaners, deodorants, and antiperspirants, is pushing growth of the segment.

Based on Application, the Hair care segment is projected to grow at a significant CAGR over the forecast period

Rising demand for shampoos, hair masks, hair oils owing to increasing incidences of hair fall worldwide, is propelling growth of the segment.

Based on Region, the European region is anticipated to expand at a remarkable CAGR during the forecast period

Presence of the leading players such as BASF SE, Solvay and EVONIK, increasing demand for cosmetic products, growing incidences of hair fall amongst men’s, rapid urbanization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the European region.

Key Developments

  • In 2020, BASF SE and Isobionics (Netherlands) jointly developed Isobionics Santalol product. The new product offering is added in the new fragrance in BASF’s portfolio as an alternative to sandalwood oil.
  • In 2020, Dow publicized beauty formulation, ACULYN rheology modifiers. This new product offers reduced carbon-footprint and is easy to use.

Market Segmentation

Segmentation by Ingredient Type

  • Emollients
  • Surfactants
  • Conditioning Polymers
  • Rheology Modifiers
  • Emulsifiers
  • Others

Segmentation by Application

  • Skin care
  • Hair care
  • Make-up
  • Oral Care
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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