From USD 13,643.4 million in 2024 to USD 21,416.2 million by 2034: Personal Care Ingredient Market Set for 4.6% CAGR Growth | Future Market Insights, Inc.
Higher Awareness Around Personal Care, Advent of Natural and Organic Ingredients, and Rapid Lifestyle Shift Triggering the Focus on Maintenance. FMI Records an Average CAGR of 4.6% between 2024 and 2034. Market Survey on personal care ingredients Covering Sales Outlook, Up-to-date Key Trends, Market Size and Forecast, Production Capacity, Export and Import Analysis, Regulations, Trade Analysis and Company Analysis.
/EIN News/ -- NEWARK, Del, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The personal care ingredients market is anticipated to thrive at an average CAGR of 4.6% between 2024 and 2034. The market is expected to have a market share of USD 21,416.2 million by 2034, while it is likely to be valued at USD 13,643.4 million in 2024.
Personal care ingredients are synthetic chemicals used in a variety of cosmetics and beauty products. Traditionally, these ingredients have witnessed a steady demand; however, of late, evolving consumer preference toward herbal and organic has changed the status quo.
Personal care ingredient suppliers are closely working with leading brands to meet the changing expectations of consumers. Further, as a result of various regulations, ingredient suppliers are at increased scrutiny to comply with local and international regulations.
Globalization, along with the advent of information technology, people across the globe are aware of different beauty products available online with authentic reviews. Digitalization of marketing has made the delivery of this product simple and cost-effective, which helps consumers to choose the right cosmetics.
- The rising demand for organic and natural ingredients for personal care in supplements, cosmetics, and consumables is flourishing the market growth. Furthermore, the expanding men's segment for personal care with the gender-neutral fashion trends in the market growth.
- The higher sales of ingredients of skincare products that are anti-aging and anti-fungal, along with the application of skin conditioning agents, are increasing the market size. Moreover, increasing awareness of their skincare due to rising pollution also pushes the demand for personal care ingredients.
- New innovative products with higher natural and organic ingredients, no side effects, and chemicals are expected to change the market dynamics during the forecast period.
- Apart from the new product launches, the accessibility of e-commerce platforms and higher production of hair care and skin care products are also garnering attention from the market.
- Higher potential can be seen in emerging economies and rapid growth in multifunctional personal care applications, with social media channels influencing the end users. These personal care ingredients include surfactants, modifiers, emulsifiers, emollients, rheology, etc.
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Inclination Towards Self-Grooming Bolstering Growth of Personal Care Ingredients
The increasing purchasing power of consumers and rapid change in lifestyle is the driving force behind the success of the cosmetic ingredient market. The increased significance of personal grooming and the rising women's workforce in urban areas has positively impacted the market growth.
As people are more concerned about their looks, sales of personal care products may increase. The market has also benefited from the availability of a wide variety of products as a result of the continued focus on innovation by several companies operating in the personal care ingredients market.
Natural Ingredients Positively Influence the Growth of the Market
The dynamic lifestyle of youngsters and more inclination toward skin care coupled with rapid urbanization are expected to generate a huge demand in the cosmetic ingredient market. Personal care ingredients are raw materials used to manufacture skin care products and essentials. The increasing use of natural and bio-based ingredients has enhanced market growth.
What are the Challenges Faced by the Personal Care Ingredients Market?
Consumer Awareness Regarding Harmful Effects Restraining Personal Care Ingredients Market Growth
The core ingredients are not natural in cosmetic products, which creates a sense of an unnatural way of maintaining your appearance, and people are more inclined toward natural, eco-friendly products which cannot be cost-effective. Furthermore, side effects and allergies are a key concern among consumers.
Growing consumer awareness about the harmful effects of chemicals and other petrochemical-based components used in personal care products may hamper market growth. Furthermore, petrochemicals used to manufacture ingredients for personal care products produce hazardous by-products and carbon emissions
“How are advancements in sustainable and natural ingredients impacting the competitive landscape and product innovation within the personal care ingredients market?” Get answers from Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
Key Points
- The United States market leads the North American personal care ingredients market in terms of market share in North America. The United States held a market share of 2.6% in 2034. The factors attributed to the higher cosmetic and personal care consumption, new brands launching organic products, and greater influence of social platforms.
- The German personal care ingredients market held a market share of 2.7% in 2034. Higher imports cause market growth. Europe is the hub of the fashion industry, along with the demand for projects.
- The Indian market thrives at an average CAGR of 6.9% between 2024 and 2034. The growth is attributed to the increased per capita income, changing lifestyle, and the effective influence of social media.
- The Chinese market also thrives at a CAGR of 5.9% during the forecast period.
- Based on product type, the emollient segment leads the market, as it held a market share of 28.4% in 2024.
- Based on application type, the skincare segment strives as it accumulated a revenue share of 35.6% in the global market in 2022.
Competitive Landscape
The key suppliers focus on launching more products involving organic and natural components. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
- Clariant AG has introduced a new range of personal care products in India with plant-based actives, vegetable oils, and natural emulsifiers.
- Wacker Chemie AG has recently launched make-up, hair care, sun care, oral care, insect repellant, skincare, and bath care products with the focus of producing natural and chemical effects of higher effectiveness.
Leading Personal Care Ingredient Brands
- BASF SE
- The Dow Chemical Company
- Croda International Plc
- Ashland Global Holdings Inc.
- Solvay S.A.
- Clariant AG
- Evonik Industries AG
- The Lubrizol Corporation
- Eastman Chemical Company
- Nouryon Chemicals B.V.
- Kao Corporation
- ADEKA Corporation
- Givaudan SA
- Innospec Inc.
- Merck KGaA
- L'Oréal S.A.
- Unilever PLC
- Lonza Group AG
To Gain In-Depth Insights on Market, Browse Complete Report: https://www.futuremarketinsights.com/reports/cosmetic-ingredients-market
Key Segments of Market Report
By Product Type:
Based on product type, the industry is divided into emollients, conditioning polymers, surfactants, rheology modifiers, UV absorbers, emulsifiers, antimicrobials, and others.
By Ingredients:
By ingredients, the industry is bifurcated into natural and synthetic.
By Application:
A few key applications include skincare, make-up, oral care, hair care, toiletries, and others.
By Region:
The industry is spread across North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, and the Middle East and Africa.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on 'green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – 'The Way Forward'.
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
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