Personal Care Ingredients Market Size 2020,Growth Opprtunity 2026 |Evonik, BASF, Akzo Nobel, Dow, Wacker Chemie, Ashland, Clariant, Lonza Group, Cargill, Solvay

According to a study, the personal care ingredients market may exceed USD 12 billion by the year 2024. However, stern federal regulations regarding the use of ingredients in cosmetics products may impede personal care market growth in the forthcoming years.

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Personal care ingredients market is highly completive, with brands and firms like Clariant, Ashland Inc, Lonza Group Pvt. Ltd., Wacker Chemie AG, Akzo Nobel N.V., Dow Corning Corporation, Evonik Industries, Croda International Plc, and BASF SE holding a major share.

Surfactants have been the most invaluable products. Apart from the cosmetics industry, surfactants are increasingly used for emulsifying, foaming, cleansing, antimicrobial effects, among others. One of the notable attributes that makes surfactant molecules stand out is that they are compatible with both water and oil. These features are expected to enhance the demand for surfactants, fueling personal care ingredients market size.

Increasing purchase of personal care products worldwide is anticipated to boost the personal care ingredients market size over 2024. Personal care products have become a vital part of consumer’s daily life. People across the globe have started to use haircare, skincare, and cosmetics products to enhance their aesthetic appearance.

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Given to the negative attitude towards animal-based personal care products, customers have also started preferring eco-friendly, ethical, and sustainable product brands. This has encouraged companies to use plant-based ingredients in their personal care products, which in turn may drive personal care ingredients market growth.

One of the major applications of surfactants is the innate creation of a semi-stable mixture of water and oil, or emulsions. Given water and oil don’t mix well, emulsifiers are added to modify the surface tension between the oil and water, thereby producing a well-mixed and homogenous product with an even texture. Emulsions are the lotions and creams which provide fruitful lipid materials to the surface of the skin and hair.

Meanwhile, the demand for preservatives in personal care ingredients industry has soared in popularity as their use in propelling shelf life and derailing the growth of microorganisms such as fungi and bacteria has surged in recent years. A few of the popular preservatives are parabens, benzyl alcohol, tetrasodium EDTA. Of late, traction for preservatives-free products have surged; however, their shorter shelf life has been a major concern.

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