NEWARK, Del, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The personal care ingredients market is anticipated to thrive at an average CAGR of 4.6% between 2024 and 2034. The market is expected to have a market share of USD 21,416.2 million by 2034, while it is likely to be valued at USD 13,643.4 million in 2024. The shift of consumers from chemical-based components to botanical extracts is due to the evolvement of product formulations, increasing research and development activities across the world, and nascent consumer awareness about combinations of botanicals and other active ingredients.
Short-Term Viewpoint (2024 to 2027): More people are inclined toward using botanical dietary supplements and plant-based active ingredients set to positively influence product sales growth.
Medium-Term Aspect (2027 to 2030): Germany and China are anticipated to exhibit high demand for active ingredients. Widespread application of the product in the cosmetic sector is set to boost demand for personal care active ingredients.
Long Term (2030 to 2034): In the long term, sales of personal care active ingredients are expected to be influenced by rising number of research and development activities.
- The rising demand for organic and natural ingredients for personal care in supplements, cosmetics, and consumables is flourishing the market growth. Furthermore, the expanding men's segment for personal care with the gender-neutral fashion trends in the market growth.
- The higher sales of ingredients of skincare products that are anti-aging and anti-fungal, along with the application of skin conditioning agents, are increasing the market size. Moreover, increasing awareness of their skincare due to rising pollution also pushes the demand for personal care ingredients.
- New innovative products with higher natural and organic ingredients, no side effects, and chemicals are expected to change the market dynamics during the forecast period.
- Apart from the new product launches, the accessibility of e-commerce platforms and higher production of hair care and skin care products are also garnering attention from the market.
- Higher potential can be seen in emerging economies and rapid growth in multifunctional personal care applications, with social media channels influencing the end users. These personal care ingredients include surfactants, modifiers, emulsifiers, emollients, rheology, etc.
To Gain In-Depth Insights into Market, Browse the Complete Report: https://www.futuremarketinsights.com/reports/cosmetic-ingredients-market
Key Points
- The United States market leads the North American personal care ingredients market in terms of market share in North America. The United States held a market share of 2.6% in 2034. The factors attributed to the higher cosmetic and personal care consumption, new brands launching organic products, and greater influence of social platforms.
- The German personal care ingredients market held a market share of 2.7% in 2034. Higher imports cause market growth. Europe is the hub of the fashion industry, along with the demand for projects.
- The Indian market thrives at an average CAGR of 6.9% between 2024 and 2034. The growth is attributed to the increased per capita income, changing lifestyle, and the effective influence of social media.
- The Chinese market also thrives at a CAGR of 5.9% during the forecast period.
- Based on product type, the emollient segment leads the market, as it held a market share of 28.4% in 2024.
- Based on application type, the skincare segment strives as it accumulated a revenue share of 35.6% in the global market in 2022.
“The rising demand for personal care ingredients is significantly driven by consumer preferences for multifunctional, natural, and ethically sourced products. As the "clean beauty" movement gains momentum, transparency and eco-conscious formulations are becoming key growth factors in the industry”- says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape
The key suppliers focus on launching more products involving organic and natural components. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
- Clariant AG has introduced a new range of personal care products in India with plant-based actives, vegetable oils, and natural emulsifiers.
- Wacker Chemie AG has recently launched make-up, hair care, sun care, oral care, insect repellant, skincare, and bath care products with the focus of producing natural and chemical effects of higher effectiveness.
Leading Personal Care Ingredient Brands
- BASF SE
- The Dow Chemical Company
- Croda International Plc
- Ashland Global Holdings Inc.
- Solvay S.A.
- Clariant AG
- Evonik Industries AG
- The Lubrizol Corporation
- Eastman Chemical Company
- Nouryon Chemicals B.V.
- Kao Corporation
- ADEKA Corporation
- Givaudan SA
- Innospec Inc.
- Merck KGaA
- L'Oréal S.A.
- Unilever PLC
- Lonza Group AG
Key Segments of Market Report
By Product Type:
Based on product type, the industry is divided into emollients, conditioning polymers, surfactants, rheology modifiers, UV absorbers, emulsifiers, antimicrobials, and others.
By Ingredients:
By ingredients, the industry is bifurcated into natural and synthetic.
By Application:
A few key applications include skincare, make-up, oral care, hair care, toiletries, and others.
By Region:
The industry is spread across North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, and the Middle East and Africa.
Author by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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