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Beauty And Personal Care Surfactants Global Market Analysis Development Trends, Industry Growth Opportunities, Regional Demand and Forecast 2024-2033 | BASF SE, Akzo Nobel N.V., Kao Corporation, Stepan Company, Rhodia
Beauty And Personal Care Surfactants Market
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According to The Business Research Company's, The beauty and personal care surfactants market size has grown strongly in recent years. It will grow from $10.39 billion in 2023 to $11.22 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to cosmetic industry growth, rising consumer awareness about personal hygiene and grooming, increasing demand for personal care products, rapid urbanization.
The beauty and personal care surfactants market size is expected to see strong growth in the next few years. It will grow to $15.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to rising e-commerce, emerging markets, rise in disposable income, rise in focus on aesthetics. Major trends in the forecast period include clean beauty products, microbiome-friendly formulations, sustainable sourcing, anti-pollution products, biodegradable surfactants.
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Market Drivers and Trends:
The increasing demand for various waterless products is propelling the growth of the beauty and personal care surfactants market. Commonly, beauty and personal care products are made up of 60-80% of water, getting rid of H20 from that list helps manufacturers add more active ingredients adding to the beauty formula, requiring fewer preservatives too. Furthermore, waterless products are also environmentally friendly, it is estimated that two-thirds of the world's population may face shortages by 2025. The beauty industry, after agriculture, laps up the most water, waterless products also reduce the carbon footprint, are lighter to transport, require lesser packaging, and are much more compact, making them a preferred option amongst major manufacturers.
Major companies operating in the beauty and personal care surfactants market are focusing on innovative products such as peptovitae series to drive revenues in their market. Peptovitae series is a set of four patented peptides that constitute a novel class of biomimetic peptides created by scientific means. For instance, in January 2022, BASF SE, a Germany-based beauty and personal care products manufacturing company launched peptovitae series. With the Peptovitae line, consumers can create unique and inventive treatments for a wide spectrum of skin issues. The new bioactives from BASF's care creations line of personal care products are designed to combat signs of aging, improve skin brightness, calm and moisturize skin, and improve skin that is prone to dryness and irritation .
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Major Key Players of the Market:
BASF SE, Akzo Nobel N.V., Kao Corporation, Stepan Company, Rhodia, Clariant AG, Evonik Industries AG, Croda International PLC, Huntsman International LLC, Solvay SA, Dow Inc., DuPont de Nemours Inc., Ashland Global Holdings Inc., Nouryon Holding B.V., Indorama Ventures Public Company Limited, Lonza Group AG, Galaxy Surfactants Limited, Lubrizol Corporation, Innospec Inc., Colonial Chemical Inc., Pilot Chemical Corp., Oxiteno S.A. Indústria e Comércio, KLK OLEO, Sasol Limited, Akema S.r.l., Jarchem Industries Inc., Vantage Specialty Ingredients Inc., Seppic S.A., Gattefossé SAS, Nikko Chemicals Co. Ltd.
Beauty And Personal Care Surfactants Market 2024 Key Insights:
• The beauty and personal care surfactants market size is expected to see strong growth in the next few years. It will grow to $15.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• Embracing Sustainability Through The Rise Of Waterless Beauty And Personal Care Products
• Increasing Focus On Product Innovations To Provide Reliable Services To Their Customers
• Asia-Pacific was the largest region in the beauty and personal care surfactants market in 2023
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