Active Ingredients in Personal Care Market Forecast to Reach Around $7 Billion by 2025

The Global Active Ingredients in Personal Care Market is forecast to reach around $7 billion by 2025, after growing at a CAGR of 7% during 2020-2025. Active ingredients can be defined as components of chemical products which can be natural or synthetics and help in directly achieving the performance objectives of the final products. Increasing awareness about personal care and growing disposable income in major developing nations has led to a higher demand for Personal and beauty care products and is expected to remain key growth driver during the period of study. Furthermore, a growing middle-class sector from developing regions, an aging population, and demand for bio-based skin care products also contribute to the growth of the Active Ingredients in Personal Care Market size during the forecast period.

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Global Active Ingredients in Personal Care Market Segment Analysis - By Product Type

The natural segment is projected to witness a highest CAGR of 9% during the forecast period in the global Active Ingredients in Personal Care market due to growing demand for environmentally sustainable products. Whereas, the growing awareness about environment safety, various personal care product manufacturers have inclined their focus towards the eco-friendly products, which in turn drive the demand for natural active ingredients in personal care products. For instance, in March 2020, L'Oréal has developed a paper-based cosmetic tubes along with the global packaging firm Albea. The developed cosmetic tubes use a bio-based paper.

Global Active Ingredients in Personal Care Market Segment Analysis - By Ingredient Type

The Anti-aging Ingredient is projected to witness a highest CAGR of 9.5% during the forecast period in the global Active Ingredients in Personal Care market due to growing ageing population globally especially in European region. Furthermore, growing demand for Vitamic C and Derivatives based personal products from the consumers is also propel the market growth. As, Vitamin C is a powerful antioxidant with the ability to reduce the intensity of brown spots and age spots. Moreover, the growing demand for organic anti-aging products is also contribute to the growth of this market during the forecast period.

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Global Active Ingredients in Personal Care Market Segment Analysis - By Application

The skin care segment is projected to grow at the fastest CAGR of 9% in the global Active Ingredients in Personal Care market during the forecast period due to growing uses of emollients, emulsifiers, surfactants, thickeners, antioxidants, active agents, and antimicrobial ingredients in skin care products. Besides, the growing concern over various skin related problems such as anti-ageing, fairness, acne, and cracking skin among consumers are driving the demand for skin care products that further contribute to the market growth.

Global Active Ingredients in Personal Care Market Segment Analysis - By Geography

Among the regions, the APAC region is projected to witness a highest CAGR of around 9.5% in the global Active Ingredients in Personal Care market followed by North America and Europe during the forecast period. The growing economies of South East Asian countries, changing lifestyle like “selfie lifestyle” increasingly indulge in high-end personal care products, growing disposable income, and rise in population along with the increase in per capita spending on personal care products propels the growth of this market in APAC region.

Active Ingredients in Personal Care Market Drivers

Surging demand for natural ingredients

Nowadays, natural ingredients are being demanded by an extremely attentive consumers to avoid exposure to harsh chemicals. The high awareness about the effects of personal care products with synthetic ingredients compared to natural one further drives the market growth, which is expected to double to share of natural ingredient by 2025. Increasing demand for natural skincare and personal hygiene products owing to the coronavirus pandemic further drive the growth of natural ingredients from the personal care industry. For instance, lemon myrtle, which is used in hand sanitizers and cleaning products.

Growing Personal Care Industry

The growing inclination towards organic personal care products is one of the promising trends to have emerged in the developed and developing regions that is driving the growth of personal care industry. Furthermore, the arrival of the fashion industry in the Western European countries particularly in France and Italy has provided various lucrative opportunities for the growth of the personal care industry during the forecast period. Besides, the growing trend of fashion weeks globally is also contributing for the growth of personal care products, which in turn drives the growth of this market during the forecast period. For instance, according to Cosmetic Europe, the personal care and cosmetics industry has witnessed a growth of 1.3% in 2018 as compared to 2017.

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Active Ingredients in Personal Care Market Challenges

Environmental concern regarding harmful ingredients in personal care products

The stringent regulations of European Union pressurized manufacturers to submit data regarding the long-term health impact of Active Ingredients in Personal Care products, particularly hormonal effects and contributions to antibiotic-resistant bacteria in order to ascertain the safety of these products. This combined with increasing stringency worldwide regarding harmful effects of the ingredients is likely to hinder the market growth. For instance, triclosan causes negative developmental and reproductive effects in fish and other aquatic organisms. Moreover, mostly the personal care products are coming with plastic and glass packaging. The low recycling rate of single use personal care bottles is a major concern for the increasingly environmentally aware consumers. This will impact the Active Ingredients in Personal Care market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Active Ingredients in Personal Care market report. In 2019, the market of Active Ingredients in Personal Care top 10 companies accounting for xx% of the share. Major players in the Active Ingredients in Personal Care Market industry outlook are Evonik Industries AG, Lonza Group Ltd., Solvay SA, Akzo Nobel N.V., Ashland Global Holdings Inc., BASF SE, Croda International Plc., Clariant AG, The Dow Chemical Company, and Wacker Chemie AG, among others.

Acquisitions/Technology Launches

In January 2020, BASF SE launched new skin care active ingredients Hydagen® Aquaporin, Hydrasensyl® Glucan, and Inolixir™ for makeup applications at Cosmet’Agora 2020 in Paris.

Key Takeaways

In the North America region, in 2019, the USA is the major market for the Active Ingredients in Personal Care owing to consumer desire for natural products with high efficacy and visible results.

E-commerce is also considered as a key factor contributing to the growing usage of personal care products globally.

The demand for male hair care and facial skin care products is growing due to growing trend of male grooming particularly from emerging market.

Stringent government norms such as European Commission Cosmetics Directive (ECCD) and the U.S. Food and Drug Administration (FDA), restraining the market growth.

Related Reports :

A. Cosmetic Ingredients Market

https://www.industryarc.com/Report/15887/cosmetic-ingredients-market.html

B. Beauty And Personal Care Products Market

https://www.industryarc.com/Research/Beauty-And-Personal-Care-Products-Market-Research-503504

For more Chemicals and Materials Related Reports @ https://www.industryarc.com/Domain/4/chemicals-materials-market-research.html

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