According to the new market research report “Personal Care Ingredients Market by Ingredient Type (Emollients, Surfactants, Rheology Modifiers, Emulsifiers, Conditioning Polymers, Others), Application (Skin Care, Hair Care, Oral Care, Make-up, Others), and Region – Global Forecast to 2025“, The Personal Care Ingredients market is projected to reach USD 13.9 billion by 2025, at a CAGR of 4.0% from USD 11.4 billion in 2020.
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The growth of the personal care ingredients market is primarily triggered by the changing lifestyle and increasing purchasing power of consumers in developing countries. Moreover, an increase in demand for multifunctional personal care ingredients is another factor driving the personal care ingredients market. The personal care industry is driven by various ingredients and chemicals. The market size of these ingredients is growing rapidly because of their various applications, not just in the personal care industry. This is boosting the personal care industry. Some of the major ingredients are surfactants, rheology modifiers, emulsifiers, and emollients.
The emollients segment accounted for the largest share of the global personal care ingredients market in terms of value in 2019. This is mainly because emollients contain various compounds with soothing and smoothening properties, which establish a protective barrier on the skin’s surface. Everyday use of emollients can be effective in various skin-related problems, such as eczema, psoriasis, and ichthyosis. They are used in skincare products in various forms, such as gels, lotions, and emulsion creams. Petroleum jelly or mineral oil-based emollients are the most commonly used emollients.
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The personal care ingredients market size is projected to reach USD 13.9 billion by 2025 from USD 11.4 billion in 2020, at a CAGR of 4.0%. The demand for personal care ingredients is attributed to increasing demand for ingredients such as anti-aging agents, exfoliators, ultraviolet (UV) agents, moisturizers, antioxidants, and antimicrobials. However, stringent governmental regulations on the use of synthetic personal care ingredients in Japan, China, the US, and European countries are restricting its growth in the personal care ingredients market. On the other hand, the increased demand for cosmetics from emerging economies of the world has created opportunities for manufacturers.
BASF SE (Germany), Dow (US), and Solvay (Belgium) are the major players in this market.
BASF SE is one of the largest players in the personal care ingredients market. Its well-established distribution network and brand value serve as important factors for its future growth. The company offers a range of products for all the major applications such as skin care, hair care, oral care, make-up, and toiletries. The company has a strong R&D team which is continuously focusing on developing new and improved ingredients for personal care manufacturers. The company also continuously comes with new products to meet the ever growing demand of the personal care product manufacturers. It is focusing on new product launches, expansions, and innovations as the key growth strategy.
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Dow is the another key player in the personal care ingredients market. The company offers personal care ingredients through its two business segments—industrial intermediates & infrastructure and performance materials & coatings. The company offers ingredients for textile processing, agrochemicals, paints & coatings, personal care, detergents, cleaners & degreasers, leather processing, and pulp & paper, among other applications. The company focuses on expansions and new product launches in order to remain competitive in the personal care ingredients market.
Solvay is one of the largest companies in the personal care ingredients market. The company has a strong brand image. The company offers personal care ingredients through its novecare sub-segment under the advanced formulations business segment. The company has presence in Europe, APAC, North America, and Latin America. The company focuses on new product launches, agreements, expansions, and mergers & acquisitions to remain competitive in the personal care ingredients market.
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