Personal Care Ingredients Market 2017 - 2024: Applications and Companies Active in the Industry

Personal care ingredients market growth is propelled by its increased demand in cosmetic industry. The exponential rise in population is expected to boost the product market between 2017 and 2024.

The unveiling of DKSH’s personal care solutions at COSMO Tech Expo India 2017 depicts the ongoing developments in personal care ingredients market across the Asia Pacific. DKSH, one of the many leading market expansion services providers, through its ingredients & specialty chemicals distributor called Business Unit Performance Materials, had recently revealed its line of innovative personal care solutions encompassing an all-pervasive portfolio of ingredients, high-grade products, and formulations. DKSH’s initiative is likely to catapult Asia personal care ingredients industry to greater heights, as manufacturers will sweat it out with one another to develop unique products pertaining to changing consumer tastes.

Driven by a plethora of factors such as online distribution, environmental impact, effectiveness, & wellness, personal care ingredients market has already established a strong foothold across myriad geographies. Bearing testimony to the aforesaid statement is the fact that this industry surpassed a valuation of USD 8 billion in 2016, and not surprisingly, has been forecast to exceed a revenue collection of more than USD 12 billion by 2024. One of the principal drivers that is making a positive impact on personal care ingredients market share seems to be the globally shifting consumer trend toward using bio-based ethically manufactured cosmetics, fueled by the numerous regulatory norms enforced by authoritative bodies.

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Personal care ingredients include emulsifiers, surfactants, emollients, rheology control agents, conditioning polymers, antimicrobials, etc. In 2016, surfactants segment registered a market revenue of USD 0.78 billion, which is estimated to witness a rising growth curve. Emollients are expected to flourish at a healthy pace with a CAGR of 5.8%.

Personal care ingredients find application in cosmetics, skin care, hair care and oral care products. Synthetic ingredients hold the maximum share in the personal care industry, but the demand for natural ingredients will rise in future. The hair care segment held a revenue of USD 1.9 billion which is anticipated to rise at a healthy rate. The increasing awareness about the products through advertisements has led to increased sales of shampoos, conditioners, etc.

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The sales of the product is likely to be high in Asia Pacific personal care ingredients market, as the demand for cosmetics and personal care products is expected to escalate. The region is expected to record a market revenue of 4.4 billion by 2024. LATAM is expected to witness decent growth over the forecast period. The increasing number of cosmetic brands being established in countries such as Mexico and Brazil will significantly affect the personal care ingredients market growth. The personal care ingredients market in the Middle East is expected to witness a decent growth rate the exceptional growth of local personal care product brands.

Personal Care Ingredients Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Increased demand for cosmetics
3.4.1.2. Adoption of multifunctional personal care products
3.4.2. Industry pitfalls & challenges
3.4.2.1. Compliance with stringent government regulations
3.4.2.2. Side effects of personal care ingredients
3.5. Growth potential analysis
3.6. Regulatory trends
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Porter’s analysis
3.8. Company market share analysis, 2016
3.8.1. Strategy dashboard
3.9. PESTEL analysis
3.10. Regional price trends
3.10.1. Cost structure analysis
3.10.2. Raw material trends

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‘Organic’, ‘sustainable’, ‘eco-friendly’, etc., are some of the latest buzzwords on the radar of personal care ingredients industry. A recent study of market trends reveals the fact that most consumers prefer organic, sustainable products, given the hazardous effects of chemical-based cosmetics on the human health as well as the environment. Conforming to the regulatory norms enforced by the European Union and other authoritative bodies, manufacturers have also been striving to develop bio-based products as opposed to the chemical-based ones. On that note, major players partaking in the overall personal care ingredients industry share include Croda International Plc, Dow Corning Corporation, Eastman Chemical Company, Lonza Group Pvt. Ltd., Wacker Chemie AG, Cargill Inc., Evonik Industries, Clariant, BASF SE, Akzo Nobel N.V., and Solvay S.A. As per a research report by Global Market Insights, Inc., personal care ingredients market is pretty much fragmented, with major corporations accounting for over 45% of the overall industry share.

Personal care ingredients industry is heavily consumer driven, and is one of those business spheres that depicts frequent changes in market trends. For instance, with the rise of the female workforce across urban locales, personal grooming has gained exceptional importance, which in a way, will be labelled as one of vital factors impacting personal care ingredients industry share. In fact, the latest trends seem to be shifting toward male grooming – the sales of male products such as shaving creams, gels, shampoos, lotions, deodorants, etc., have observed a monumental rise and are likely to transform the future of personal care ingredients market over the coming seven years.

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