Personal Care Ingredients Market to witness growth at a CAGR of 5.4%: Growth is propelled by its increased demand in cosmetic industry.

Essentially driven by the ever-changing consumer preferences, Personal Care Ingredients Market is on its way to become one of many highly regulated industries occupying the billion-dollar fraternity. The latest trend in this business sphere is that of using bio-based ingredients as opposed to chemical ones, to combat the ill-effects of chemical-based products. This has undeniably driven manufacturers to develop products with natural ingredients, thereby creating a fierce competitive ground for personal care ingredients industry players.

Azelis, a renowned specialty chemicals giant, for instance, has recently won an award for product innovation in the personal cleaning category, and the product is apparently an anti-microbial liquid possessing superior antifungal and anti-bacterial properties. The ingredient in question is extracted from the paeonia root, and is used in the production of face masks, scrubs, and other skin care applications. With other companies competing in the race to follow suit, personal care ingredients market is certain to demonstrate a CAGR of 5.4% over 2017-2024, with a revenue estimation of more than USD 12 billion by 2024.

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The Asia Pacific belt has registered itself as a fairly lucrative personal care ingredients industry, owing to the escalating demand for personal care products and cosmetics. This demand can be attributed to the changing consumer lifestyles across this region, especially in India and China. India in fact, has been projected to be one of the most opportunistic personal care ingredients market growth grounds, given a slew of drivers, including the rapid economic growth, increasing disposable incomes, and the subsequent change in living standards.

Considering the population demographics, i.e., more than 60% of India’s population is under 35 years of age, cites the World Bank, India personal care ingredients industry is sure to attain a profitable business revenue. In addition, the GDP of the country is slated to depict a y-o-y growth of more than 7%, which will impact the regional sales drastically. A leading research report has forecast India personal care ingredients market to become a billion-dollar industry by 2026. APAC personal care ingredients industry alone, has been predicted to cross USD 4.4 billion by 2024, subject to the heavy demand for skin care and hair care products.

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The skin care sector may emerge as one of most profitable revenue generating segments of personal care ingredients industry, having held a valuation of USD 2.7 billion in 2016. The product range for skin care has been expanding by the day, and includes lotions, moisturizers, cleansers, toners, creams, sprays, etc. Personal care ingredient market giants, of late, have been utilizing probiotic bacteria such as bifidobacterium and lactobacillus in skin care products, thereby augmenting sales. Extensive innovation in products is thus, likely to emerge as one of the latest trends of personal care ingredients industry over 2017-2024.

A massive range of contemporary ingredients have been pushing their way in personal care ingredients market. Natural face masks made of charcoal, tea, dry sheets, clay, and caffeine, are the rage, and beauty companies have been pulling every string they can, to launch numerous products in the face mask category and beauty products containing herbal ingredients such as kale and the like. The period between 2017 to 2024 is likely to witness a plethora of such trends, which will drive personal care ingredients industry.

Browse key industry insights spread across 140 pages with 155 market data tables & 11 figures & charts from the report, “Personal Care Ingredients Market Size By Product (Surfactants, Conditioning Polymers, Emollients, Rheology Control Agents, Emulsifiers, Antimicrobials), By Application (Skin Care, Hair Care, Oral Care, Cosmetics) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/personal-care-ingredients-market

Major companies have been experimenting extensively with product innovation. Germany-based Henkel, for instance, has developed a combo of 9 amino acids with keratins for one of its famous hair therapy line called BC Bonacure Hairtherapy. Apparently, these active ingredients provide the necessary elasticity and strength to the hair and lend an aura of shine. Similarly, L’Oréal launched the Intra-Cyclane in 2010, that has been designed to penetrate to the hair roots for creating a molecular network for strengthening the fiber in the core of hair. The product is mostly used in serums. The aforementioned instances stand testimony to the ever-expanding product portfolio of personal care ingredients industry.

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