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Global Personal Care Ingredients Market: Rising Demand, Unprecedented Growth & Key Trends (2024-2029)
Global Personal Care Ingredients Market
What Is The Projected Market Size Of The Global Personal Care Ingredients Market And Its Growth Rate?
The Personal Care Ingredients market has witnessed substantial growth, expected to continue in the foreseeable future with:
- Projected growth from $16.18 billion in 2024 to $17.43 billion in 2025, with a strong CAGR of 7.7%
- Expected market size of $24.47 billion by 2029, growing at a CAGR of 8.9%
- Notable growth in the forecast period attributed to sustainable packaging, demand for clean beauty, personalized skincare products, men's grooming products, and focus on mental well-being.
What Is Driving The Growth In The Personal Care Ingredients Market?
The surging young population is a significant growth driver for the personal care ingredients market. The growing inclination towards looking respectable is escalating the demand for personal care products amongst the youthful population. As per the Partnership for Maternal, Newborn & Child Health (PMNCH), the young population aged between 10 and 24 globally reached an unprecedented high of 1.8 billion in November 2022. This surge is anticipated to fuel personal care products demand and subsequently drive market growth.
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Who Are the Key Players Driving Personal Care Ingredients Market Growth?
Prominent players driving the personal care ingredients market include:
- BASF SE
- Ashland Inc.
- Solvay SA
- Dow Chemical Company
- Clariant AG
- Croda International PLC
- Evonik Industries AG
- J.M. Huber Corporation
- Huntsman International LLC
- The Lubrizol Corporation
- Akzo Nobel NV
- Pharmacos
- Nouryon Specialty Chemicals B.V.
What Are The Key Trends In The Personal Care Ingredients Market?
Forecast period trends shaping the personal care ingredients market include:
- Microbiome-friendly personal care products
- AI-driven skincare recommendations
- Vegan and cruelty-free ingredient options
- Nanotechnology in ingredient delivery
- and hemp-derived ingredients
What Are The Segments Of The Global Personal Care Ingredients Market?
The global personal care ingredients market is segmented by:
1) Ingredients: Emollients, Surfactants, Emulsifiers, Rheology Modifiers, Conditioning Polymers, Other Ingredients
2) Source: Natural Ingredients, Synthetic Ingredients
3) Application: Skin Care, Hair Care, Oral Care, Cosmetics, Other Applications
Which Region Leads The Personal Care Ingredients Market?
North America dominated the personal care ingredients market in 2024, with Europe securing the second position. The covered regions include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Personal Care Ingredients Market Global Market Report?
- Market Size Analysis: Analyze the Personal Care Ingredients Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Personal Care Ingredients Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Personal Care Ingredients Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Personal Care Ingredients Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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