Personal Care Encapsulation Materials Market size is forecast to reach $8.7 billion by 2025 after growing at a CAGR of 6.7% during 2020-2025. Encapsulation is a technique in which tiny particles are protected by coating them to form small capsules. The growth of the market of personal care encapsulation materials is expected to be driven by the high demand from the cosmetic industry. The other growth factor is personal care industry which is using personal care encapsulation materials for the manufacturing of soaps and shower gels.
By Type-Segment Analysis
Lipids segment held the largest share in the personal care encapsulation materials market in 2019. Lipids are finding increasing application in soap and shower gel manufacturing owing to the assortment of chemical composition they offer. Lipids are finding increasing applications in the cosmetics industry owing to their superior functional properties such as emulsification, density, texture, and hydrogenation. These factors are imperative to lipids market growth. Lipids and emulsifiers derived from lipids are the primary materials used in the manufacturing of cosmetics owing to their emulsification properties which form a barrier to protect the skin from external elements. With consumers preferring green cosmetics owing to the inclusion of natural ingredients and the health benefits associated with them, the demand for lipids derived from plants and other biotechnological origins is on the rise. Additionally, collaborative efforts for obtaining lipids specifically for use in cosmetics is expected to fuel lipids market growth.
Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=501624
Report Price: $ 4500 (Single User License)
By Application-Segment Analysis
Aromatherapy Products held the largest share in the personal care encapsulation materials market in 2019. Aromatherapy product are used as an alternative medicine therapy to treat many disorders. These medical applications include skin-related problems, pain management, insomnia, cardiovascular and respiratory disorders, and digestion problems, cold and cough, immune system functioning, anxiety, and wound healing. The rising demand for unconventional and natural treatment procedures has influenced the growth of aromatherapy products all around the globe. The growth of the aromatherapy products market can be attributed to usage of essential oils in various applications such as flavor & fragrance and others. Moreover, healing benefits of aromatherapy products are expected to be instrumental in governing peak sales paving the way for aromatherapy products sector growth. Furthermore, wide scale adoption of aromatherapy products in industrial, commercial, and household applications also drive the global market in forecast period.
Soaps segment is the second largest segment in terms of application in the personal care encapsulation materials market. The growing concern for personal grooming and rising hygiene-consciousness among consumers has encouraged them to opt for skin-friendly bath soaps, thereby driving the market growth across the globe. Apart from this, manufacturers are introducing products with exotic fragrances and vibrant colors to expand their consumer-base and diversify their market operations. They are also launching eco-friendly bath soaps containing natural or organic ingredients which are safe for both humans and the environment. Besides this, with the growing environment concerns, the leading soap companies are offering products in biodegradable and refill packaging. Furthermore, the adoption of aggressive marketing schemes such as celebrity endorsements by manufacturers, along with value addition, are some of the other factors contributing to the market growth.
By End Use-Segment Analysis
Personal care segment has been the primary market for the personal care encapsulation materials in 2019 growing at CAGR of 8%. The personal care industry is the one which produces consumer products that are used for beautification and personal hygiene. The subsectors of personal care comprise cosmetics and personal hygiene. Some of the products that are included in personal care wet wipes, toothpaste, toilet paper, talcum and others. The global market for personal care is extremely diversified and can be bifurcated. The global market for personal care is expected to witness substantial growth over the coming years owing to the growing disposable income of consumers, thus enabling them to spend on luxury personal care products. In order to cater to specific customer needs, manufacturers have flooded the market with specific hair and skin products. The market is also expected to be benefitted by the promotional offers, advertising, and media penetration. In emerging economies, facets such as growing spending power of consumers, abundance of international brands, and rapid urbanization is likely to help in the growth of the market in the forecast period.
APAC dominates the personal care encapsulation materials market with a share of 40% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the cosmetic sector. The growth in global economies, changing lifestyles, rising demands of skin and sun care products due to varying climatic conditions encourages the growth of the market for cosmetics. A shift of preference towards natural and organic beauty products, particularly in U.S. and European countries, drive the growth of the cosmetics market. Rising demand for natural, herbal and organic beauty products creates potential opportunities for manufacturers to innovate and develop new products in accordance to consumer preferences.
The coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. As the pandemic has spread around the globe, concerns have shifted from supply-side manufacturing issues to decreased business therefore, it hinder the growth of personal care encapsulation materials market in the year 2020. But after the situation became normal it will grow with steady rate in the forecast period.
Talk to one of our sales representative about the full report by providing your details in the link below:
Drivers- Personal Care Encapsulation Materials Market
Rise in the demand of essential oils will drive the growth of the market in forecast period
Rising awareness regarding health benefits of naturally sourced oils along with increasing number of people showing inclination towards aromatherapy is estimated to drive the market. Aromatherapy is gaining prominence, especially among urban population, due to changing lifestyles and rising media influence. Shifting preference of consumers in developed countries towards natural products manufactured through environmentally sustainable processes is stirring up the demand for essential oil. In addition, rising consumption of premium products and upgraded standard of living of consumers, especially in developing countries, are creating ample growth opportunities for essential oil manufactures which derive the market of personal care encapsulation materials in the forecast period.
Emerging e-commerce companies and ease of available products will drive the market
Rise of prospective population which coupled with the factors which are inducing the growth of the market such as rising personal disposable income and increasing internet penetration in the region. Further, distribution of personal care encapsulation materials market has a huge role in the success of a company as it directly impacts the demand and supply in the market and hence the revenue. With the rising penetration of internet and e-commerce across the globe, the reach of personal care products companies has increased. The perks of e-commerce have not only benefitted the companies but also the consumers in terms of pricing and a vast range of options available to them. Moreover, new customers have also been attracted by the online distribution route.
Challenges- Personal Care Encapsulation Materials Market
High price of raw materials will hinder the growth of market
Volatility in raw material prices could restrain the personal care encapsulation materials market. Raw materials required for the manufacturing of encapsulates are derived from petroleum-based resins. Therefore, fluctuation in crude oil prices could act as a major restraint for the personal care encapsulation materials market. In the global scenario, OPEC counties and Russia are fluctuating the price of crude oil. And recent US sanctions on Iran is a major factor that will increase per barrel of crude oil price. These are the restraints which will affect the global personal care encapsulation materials market near future.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the personal care encapsulation materials market. Major players in personal care encapsulation materials market are Biogenoci Co Ltd, Chongqing Pellet, Durae Corporation, Korea Particle Technology, Sumitomo And Subsidiary Persperse Corp and others.
Acquisitions/Technology Launches/ Product Launches
In July 2016, Crodda International Plc, based in England, today announced the total acquisition of the company Inventiva Ltd, from Porto Alegre, Southern Brazil. The transaction, completed by Croda Brazil, increase its portfolio of ingredients for the personal care industry with the encapsulation technology and delivery system of Inventiva. Croda will use technologies of Inventiva to innovate in other markets.
In September 2019, International Flavors & Fragrances (IFF), a leading innovator of scent, taste, and nutrition, and its affiliate, IFF-Lucas Meyer Cosmetics (IFF-LMC), announced that it has completed the acquisition of Speximo AB, a Swedish technology company focused in developing next generation stabilization and encapsulation products. This will support IFF’s strategy to develop sustainable personal care and cosmetic products, along with other potential commercial application areas.
Asia-Pacific dominates the personal care encapsulation materials owing to increasing demand from personal care industry.
Rising demand from products such as anti-aging creams, shower gels and others are driving the growth of market in the forecast period.
High price of raw material will hinder the growth of the market in the forecast period.
Active Ingredients in Personal Care Market
About IndustryARC : IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.