Personal Care Ingredients Market Size by Key Players: Evonik Industries, BASF, Akzo Nobel, Croda International Plc, Dow Corning Corporation, Wacker Chemie AG, Ashland Inc., Clariant, Cargill Inc., Eastman Chemical Company, Solvay S.A.

The sales of the product is likely to be high in Asia Pacific personal care ingredients market, as the demand for cosmetics and personal care products is expected to escalate. The region is expected to record a market revenue of 4.4 billion by 2024. LATAM is expected to witness decent growth over the forecast period. The increasing number of cosmetic brands being established in countries such as Mexico and Brazil will significantly affect the personal care ingredients market growth. The personal care ingredients market in the Middle East is expected to witness a decent growth rate the exceptional growth of local personal care product brands.

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Personal care ingredients industry has been monitored by stringent protocols by the U.S., European Union and other regulatory bodies. Since the market is prone to side effects on any variations in product formulations and consumption, compliance with the stringent government regulations will be challenging to the manufacturers in the near future.

Considering the product based classification, surfactants generated revenue more than USD 780 million in 2016 and will exhibit strong demand by 2024. Promising growth indicators in the surfactants segment will be mainly credited to its widespread applications in cleansers, deodorants, antiperspirants, shampoos, etc.

Personal care ingredients market for hair care held a revenue close to USD 2 billion in 2016. Varying hair grooming patterns among male consumers, growing hair salon services penetration will boost the segment growth. Also, rising preference to professional hair care products over conventional products and growing hair problems such as hair loss, grey hair and dandruff will fuel the hair care products demand.

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Personal Care Ingredients Market, By Product
o Surfactants
o Conditioning Polymers
o Emollients
o Rheology Control Agents
o Emulsifiers
o Antimicrobials
o Others (Preservatives, etc.)

Personal Care Ingredients Market, By Application
o Skin Care
o Hair Care
o Oral Care
o Cosmetics
o Others (Toiletries, fragrances, etc.)

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Rising involvement of women in urban workforce and growing importance of personal grooming has positively influenced personal care ingredients market growth. People have become more conscious about their appearance which will drive the sales of the personal care products. New product launches will fuel the growth of the industry. Also, the market players are engaged in promotional activities which will considerably increase the sales of personal care products, which in turn will positively impact the personal care ingredients market.

Personal care ingredients market share is highly competitive due to presence of some gigantic industry players such as BASF SE, Evonik Industries, Croda International Plc, Akzo Nobel N.V., Dow Corning Corporation, Ashland Inc., Cargill Inc., Clariant, Eastman Chemical Company, Lonza Group Pvt. Ltd., Solvay S.A., LotionCrafter, Wacker Chemie AG, Naturex, etc.

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