Personal Care Ingredients Market to Reach Value of USD 15.12 Billion by 2027 | Increasing Usage of Anti-Aging Ingredients by Middle-Aged Population for Rejuvenating Skin is Driving Industry Growth, says Emergen Research
Vancouver, British Columbia, April 29, 2021 (GLOBE NEWSWIRE) — The global personal care ingredients market is projected to reach value of USD 15.12 Billion by 2027, according to a current analysis by Emergen Research. This growth of the market can be attributed to the growing interest in personal care products for skin and hair among consumers worldwide. Rising need of consumers for personal care products with sun care protection features to protect the skin from UV rays has led to the rising demand for UV filters. Moreover, the pollution and blue light from the electronic devices are damaging the quality of the skin which includes cell shrinkage and death of the skin cells resulting in faster aging process, which are driving the demand for anti-wrinkle and anti-aging cosmetic skin care products.
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Governments of advanced economies are keeping the ingredients under constant surveillance. They have implemented stringent regulations on the approval of personal care products, which is expected to restrain the market during the forecast period. Absence of chemical preservatives in organic personal care products results in shorter shelf life of these products, which is affecting the demand for these products. Moreover, high cost of organic products, owing to presence of botanical ingredients, is expected to hamper the demand for bio-based self-care products in the next few years.
Key Highlights of Report
- Key companies in personal care ingredients market include Dow, BASF SE, Clariant AG, Solvay S.A., Ashland Global, Evonik Industries AG, Lubrizol Corporation, Nouryon, Lonza Group AG, and Croda International
- In October 2019, BASF SE collaborated with Biomillenia, a France-based microbe tech firm. The collaboration is expected to give BASF an access to the microbiome-on-a-chip technology of Biomillenia.
- The skin care segment held the largest market share of 39.2% in 2019. Rising need among consumers to protect their skin against UV rays has led to the increasing adoption of skin care products with UV filters.
- The conditioning polymers segment is anticipated to expand at the highest CAGR of 5.5% during the forecast period. Cosmetic chemists increasingly utilize conditioning polymers in personal care and cosmetic products to develop high-performance products, which is expected to drive the segment during the forecast period.
- Asia Pacific accounted for the largest market share of the global personal care ingredients market in 2019. Rising purchasing power of consumers in developing economies is driving the demand for personal care products. This, in turn, has resulted in growth of the market for personal care ingredients.
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Emergen Research has segmented the global personal care ingredients market in terms of application, ingredient type, and region:
- Application Outlook (Revenue, USD Billion; 2017–2027)
- Hair Care
- Skin Care
- Oral Care
- Ingredient Type Outlook (Revenue, USD Billion; 2017–2027)
- Conditioning Polymers
- Rheology Modifiers
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- Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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