Personal Care Ingredients Market By Source (Natural, Synthetic), By Application (Skin care, Hair care, Toiletries, Makeup, Fragrances, Oral care), By Ingredient Type (Rheology control agents, Emollients, UV absorbers, Surfactants, Emulsifiers, Antimicrobials, Hair fixative polymers, Conditioning polymers): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global personal care ingredients market was valued at $10.4 billion in 2021, and is projected to reach $18.5 billion by 2031, growing at a CAGR of 6.0% from 2022 to 2031.
Personal care products that we used in our daily life including skin care, hair care, cosmetics, and other hygiene products need the personal care ingredients for their production. The personal care ingredients such as undifferentiated bulk chemicals or specialty chemicals including emulsifiers, surfactants, antimicrobials, and others are used to produce skin care and other personal care products. The key factors that drive the growth of the personal care ingredients market include rise in disposable incomes and change in the standard of living of customers. In addition, increase in consumer awareness toward multi-purpose products fuels the personal care ingredients market growth in the upcoming years. However, stringent government regulations toward the synthetic personal care ingredients across the globe are restraining the growth of the market during the analyzed timeframe. Moreover, a side effect of chemical based personal care products is expected to hamper the market growth in the upcoming years.
The global personal care ingredients market is segmented on the basis of source, ingredients type, application and region. On the basis of source, the market is bifurcated into natural ingredients and synthetic ingredients. Depending on type, the personal care ingredients market is divided into rheology, control agents, emollients, UV absorbers, surfactants, emulsifiers, antimicrobials, hair fixative polymers, and conditioning polymers.
By application, the market is segmented into skin care, hair care, toiletries, makeup, fragrances, and oral care. Skin care is further sub-segmented into men, baby, sun care, hand/body lotion, and facial treatment. Region wise, the personal care ingredients market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global personal care ingredients market are Ashland Global Holdings Inc., BASF SE, Berkshire Hathaway Inc. (The Lubrizol Corporation), Clariant AG, Croda International Plc, DOW, Inc., Evonik Industries AG, J.M. Huber Corporation, KCC Corporation (Momentive Performance Materials), and Solvay S.A. Other companies in accordance with personal care ingredients market are Wacker Chemie AG, Akzo Nobel N.V., Huntsman International, Cargill, Inc., Lonza Group, and others.
IMPACT OF COVID-19 ON THE GLOBAL PERSONAL CARE INGREDIENTS MARKET
COVID-19 has been spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020. Due to COVID-19 pandemic, transport limitations were implemented, which resulted in reduced industrial production and disrupted supply chains. Thus, affecting the global economic growth by a substantial proportion and severely impacting the market growth. Companies were not earning any profit as a result of the work stoppage and not only the companies lost the money but they also lost suppliers who were providing the required materials to various companies to be used in the personal care sector. All those suppliers also faced huge losses.
There is uneven impact of COVID-19 pandemic on the personal care ingredients market, due to the lockdown implemented in almost every economy across the globe to break the chain of spreading of coronavirus. This resulted in shutting off the operations, manufacturing, distribution, and beauty shops. Thus, there is decrease in demand for cosmetic products from the beauty shops, institutes, salons, and others, which in turn resulted in the sluggish growth in the 2020.
Demand for color cosmetics, hair styling, and sun care products declined significantly during the pandemic. Given the lockdowns and restrictions instituted by governments worldwide, people were forced to shift to working from home and avoiding recreational activities, leading to a decline in demand for these products. In turn, demand for cosmetics ingredients, hair fixative polymers, and UV-protection ingredients took a sharp hit in 2020. Furthermore, increase in demand for personal care & cosmetic products (Sanitizer, Soap, Disinfectants, & others) and other home cleaning chemicals is maintaining the growth rate of the personal care ingredients market, which in turn resulted in less impact of COVID-19 on this sector.
According to The American Chemistry Council (ACC), volume gain is occurred in the cosmetic additives and flavor & fragrances in the U.S. and other specialty chemicals segment registered decrease in volume gain during pandemic. But this change in personal care ingredients market may be different for other economies across the globe.
From beginning of 2021, various industries, manufacturing units, offices, shops started their operations due to which the demand for personal care ingredients improved across the globe. In 2021, the chemical industry resumed their operations due to which the demand and supply gap of raw materials required for personal care ingredients also improved.
KEY BENEFITS FOR STAKEHOLDERS
The report provides in-depth analysis of the global personal care ingredients market along with the current trends and future estimations.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global personal care ingredients industry for strategy building.
A comprehensive personal care ingredients market analysis covers factors that drive and restrain the global personal care ingredients market growth.
The qualitative data about personal care ingredients trends, dynamics and developments is provided in the report.
Key Market Segments
By Source
Natural
Synthetic
By Application
Skin care
Application
Men
Baby
Sun care
Hand-body Lotion
Facial Treatment
Hair care
Toiletries
Makeup
Fragrances
Oral care
By Ingredient Type
Rheology control agents
Emollients
UV absorbers
Surfactants
Emulsifiers
Antimicrobials
Hair fixative polymers
Conditioning polymers
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Rest of Europe
Asia-Pacific
Rest Of Asia Pacific
China
Japan
India
South Korea
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
ASHLAND GLOBAL HOLDINGS INC.
BASF SE
BERKSHIRE HATHAWAY INC.
CLARIANT
CRODA INTERNATIONAL PLC.
DOW INC.
EVONIK INDUSTRIES
J.M. HUBER CORPORATION
KCC CORPORATION
SOLVAY S.A.
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook