Press release
Personal Care Ingredients Market reached USD 11.1 billion in 2021 and projected to hit USD 15.9 billion in 2029, registering at a CAGR of 4.6% | Size & Forecast Report
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/personal-care-ingredients-market-analysis-industry-research/
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
About GMI Research
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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