Personal Care Ingredients Market | Key players operating in the market include BASF SE, Dow Inc., Clariant, Croda International Plc., Ashland

According to recent market research the "Personal Care Ingredients Market by Ingredient Type (Emollients, Surfactants, Rheology Modifiers, Emulsifiers, Conditioning Polymers), Application (Skin Care, Hair Care, Oral Care, Make-up) and Region - Global Forecast to 2027", the Personal Care Ingredients market is projected to reach USD 14.9 billion by 2027, at a CAGR of 4.0% from USD 11.8 billion in 2021.

The growth of the personal care ingredients market is primarily triggered by the changing lifestyle and increasing purchasing power of consumers in developing countries. Moreover, an increase in demand for multifunctional personal care ingredients is another factor driving the personal care ingredients market. A major change in the lifestyle of consumers is witnessed in most of the developing countries, especially in China, Brazil, and India. The development is backed by increasing income and purchasing power. These factors have increased the demand for personal care ingredients in these countries. The awareness about hygiene, beauty, and health has been steadily increasing. For instance, premium skin and hair care products, which were earlier used in the urban areas, are now easily penetrating the rural areas of India and China. This shift in consumption pattern is driving the cosmetics & personal care industry.

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The emollients segment accounted for the largest share of the global personal care ingredients market in terms of value in 2020. Emollients are fatty substances that provide lubricating action and make the skin feel softer. Emollients are widely used in skin care products ranging from face creams to skin cleansers and scrubs; and in hair care products such as shampoos and conditioners. The market for conditioning polymers is quite small compared to surfactants and emollients in terms of volume. However, due to their higher prices, there is not much difference in the market sizes of emollients, surfactants, and conditioning polymers in terms of value.

The skin care segment is the largest application segment of personal care ingredients market. Personal care ingredients find major application in skin care products. Some of the common ingredients used in the formulation of skin care products are emollients, emulsifiers, surfactants, thickeners, antioxidants, antimicrobial, and conditioning agents, among others. The skin care product segment caters to various skin-related requirements such as anti-aging, fairness, acne, and cracking skin. The various types of skin care products are lotions and face & hand creams.

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The personal care ingredients market size is projected to reach USD 14.9 billion by 2027 from USD 11.8 billion in 2021, at a CAGR of 4.0%. The demand for personal care ingredients is attributed to increasing demand for ingredients such as anti-aging agents, exfoliators, ultraviolet (UV) agents, moisturizers, antioxidants, and antimicrobials. However, stringent governmental regulations on the use of synthetic personal care ingredients in Japan, China, the US, and European countries are restricting its growth in the personal care ingredients market. On the other hand, the increased demand for cosmetics from emerging economies of the world has created opportunities for manufacturers.

BASF SE (Germany), Dow (US), and Solvay (Belgium) are the major players in this market.

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BASF SE is one of the largest players in the personal care ingredients market. Its well-established distribution network and brand value serve as important factors for its future growth. The company offers a range of products for all the major applications such as skin care, hair care, oral care, make-up, and toiletries. The company has a strong R&D team which is continuously focusing on developing new and improved ingredients for personal care manufacturers. The company also continuously comes with new products to meet the ever-growing demand of the personal care product manufacturers. It is focusing on new product launches, expansions, and innovations as the key growth strategy.

Dow is another key player in the personal care ingredients market. The company offers personal care ingredients through its two business segments-industrial intermediates & infrastructure and performance materials & coatings. The company offers ingredients for textile processing, agrochemicals, paints & coatings, personal care, detergents, cleaners & degreasers, leather processing, and pulp & paper, among other applications. The company focuses on expansions and new product launches in order to remain competitive in the personal care ingredients market.

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