Personal Care Ingredients Market

Personal Care Ingredients Market size reached USD 11.1 billion in 2021 and is estimated to reach USD 15.9 billion in 2029 and the market is estimated to grow at a CAGR of 4.6% from 2022-2029

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Market Dynamic

Key Drivers and Emerging Trends

Some of the major factors that are responsible for the growth of the global personal care ingredients market size include the rising purchasing power of consumers, especially in developing economies, followed by the growth in multifunctional personal care ingredients. There has been an increase in the demand for higher quality personal care ingredients, which is further surging the growth of the market. In addition to this, the rapid urbanization, surging number of working women, and the significant changes in the lifestyle are indirectly boosting the growth of the market over the forecast period. Moreover, the continuous expansion among the leading players is surging the market growth. In 2020, BASF SE entered a partnership with BTC Europe as a distribution partner for its care creation portfolio. This partnership  increase in the efficiency and simplification of the supply chain for personal care customers.

The outbreak of the COVID-19 pandemic has adversely impacted the growth of the personal care sector, thus impacting the growth of the personal care industry. The strict lockdown and the economic slowdown at the global level have hampered the demand of personal care ingredients products. The consumers have shifted towards essential products, thus hindering the total demand for other products. This fall in discretionary expenses, such as hair styling products, fragrances, and makeup products, are negatively impacted the market growth.

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Ingredient Type – Segment Analysis

Based on the ingredient type, the emollients is anticipated to grow at a higher CAGR during the forecast period. This is mainly due to its growing usage in various products such as cleaners, deodorants, antiperspirants, cleaners, and other products. People get dry skin from frequent washing of hands or working with harsh chemicals. Emollients are highly effective for soothing, and healing dry skin caused because of reasons such as diabetes, hypothyroidism, atopic dermatitis, among others.

Application – Segment Analysis

Based on the application, the hair care is projected to grow at a faster CAGR over the forecast period. This is mainly due to the significant shift in the individual’s preference towards water-based products as they are easy to use and reduces hair damage. Various hair care products include shampoos, hair masks, hair oils, conditioners, hair straighteners, among others.  The strong demand for all these products is contributing to the market growth.

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Regional – Segment Analysis:

On the basis of regional coverage, Europe is projected to grow at a higher CAGR over the forecast period. The strong demand for personal care ingredients, particularly for luxury products such as hair care, oral care, makeup products, and skin care products, is a major factor that is contributing to the growth of the market. Moreover, the surging demand for natural cosmetics with good quality products is further propelling the regional market growth.

Top Market Players

Some of the leading players operating in the market include BASF SE, Dow, Solvay, EVONIK, Clariant, Ashland, Nouryon, Croda International Plc, The Lubrizol Corporation, and Lonza, among others. 

Key Developments:

• • In 2020, BASF SE and Isobionics (Netherlands) introduced a joint product Isobionics Santalol. The new product offering is added in the new fragrance in BASF’s portfolio as an alternative to sandalwood oil.
  • In 2020, Dow showcased the beauty formulation, ACULYN rheology modifiers. This new product offer decreased carbon-footprint and is easy to use.

Segments covered in the Report:

The global personal care ingredients market has been segmented on the basis of ingredient type, application, and regions. Based on Ingredient Type, the market is segmented into emollients, surfactants, conditioning polymers, rheology modifiers, emulsifiers, and others. Based on application, the market is segmented into skin care, hair care, make-up, oral care, and others. 

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Key questions answered in this research report:

• • At what pace is global personal care ingredients market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in global personal care ingredients market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global personal care ingredients market?
  • Which ingredient type generated maximum revenues in 2021 and identify the most promising ingredient type during the forecast period?
  • What are the various application areas of global personal care ingredients market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 11.1 billion
Market Base year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Ingredient Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	BASF SE, Dow, Solvay, EVONIK, Clariant, Ashland, Nouryon, Croda International Plc, The Lubrizol Corporation, and Lonza, among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Personal Care Ingredients Market by Ingredient Type

• • Emollients
  • Surfactants
  • Conditioning Polymers
  • Rheology Modifiers
  • Emulsifiers
  • Others

Global Personal Care Ingredients Market by Application

• • Skin care
  • Hair care
  • Make-up
  • Oral Care
  • Others

Global Personal Care Ingredients Market by Region

• • North America Personal Care Ingredients Market (Option 1: As a part of the free 25% customization)
    • By Ingredient Type
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Personal Care Ingredients Market (Option 2: As a part of the free 25% customization)
    • By Ingredient Type
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Personal Care Ingredients Market (Option 3: As a part of the free 25% customization)
    • By Ingredient Type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Personal Care Ingredients Market (Option 4: As a part of the free 25% customization)
    • By Ingredient Type
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Global Personal Care Ingredients (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • BASF SE
  • Dow
  • Solvay
  • EVONIK
  • Clariant
  • Ashland
  • Nouryon
  • Croda International Plc
  • The Lubrizol Corporation
  • Lonza