Personal Care Ingredients Market Size is Valued to Hit US$ 14.9 Billion by 2027 Globally, at a CAGR of 4.0%, says MarketsandMarkets™

Chicago, Nov. 23, 2022 (GLOBE NEWSWIRE) -- The global Personal Care Ingredients Market is projected to reach USD 14.9 billion by 2027, at a CAGR of 4.0% from USD 11.8 billion in 2021, as per the recent study by MarketsandMarkets™. 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. A major change in the lifestyle of consumers is witnessed in most of the developing countries, especially in China, Brazil, and India. The development is backed by increasing income and purchasing power. These factors have increased the demand for personal care ingredients in these countries. The awareness about hygiene, beauty, and health has been steadily increasing. For instance, premium skin and hair care products, which were earlier used in the urban areas, are now easily penetrating the rural areas of India and China. This shift in consumption pattern is driving the cosmetics & personal care industry.

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Browse In-Depth TOC On "Personal Care Ingredients Market”

261 - Market Data Tables
68 - Figures
258 - Pages

List of Key Players in Personal Care Ingredients Market:

1. BASF SE (Germany)
2. Dow Inc. (US)
3. Clariant (Switzerland)
4. Croda International Plc. (UK)
5. Ashland (US)
6. Solvay (Belgium)
7. Evonik Industries AG (Germany)
8. Nouryon (Netherlands)
9. Lonza (Switzerland),

Drivers, Restraints, Opportunities and Challenges in Personal Care Ingredients Market:

1. Drivers: Rapid growth in multifunctional personal care ingredients
2. Restraints: Governmental regulations against cosmetic products
3. Opportunities: High market potential in emerging economies
4. Challenges: Volatility in raw material prices 

Key Findings of the Study:

1. Emollients is the largest ingredient type of personal care ingredients market.
2. Skin care is estimated to be the largest application of the personal care ingredients market during the forecast period.
3. Middle East & Africa is projected to be the fastest-growing market for personal care ingredients during the forecast period.

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Emollients is the largest ingredient type of personal care ingredients market.

The emollients segment accounted for the largest share of the global personal care ingredients market in terms of value in 2020. Emollients are fatty substances that provide lubricating action and make the skin feel softer. Emollients are widely used in skin care products ranging from face creams to skin cleansers and scrubs; and in hair care products such as shampoos and conditioners. The market for conditioning polymers is quite small compared to surfactants and emollients in terms of volume. However, due to their higher prices, there is not much difference in the market sizes of emollients, surfactants, and conditioning polymers in terms of value.

Skin care is estimated to be the largest application of the personal care ingredients market during the forecast period.

The skin care segment is the largest application segment of personal care ingredients market. Personal care ingredients find major application in skin care products. Some of the common ingredients used in the formulation of skin care products are emollients, emulsifiers, surfactants, thickeners, antioxidants, antimicrobial, and conditioning agents, among others. The skin care product segment caters to various skin-related requirements such as anti-aging, fairness, acne, and cracking skin. The various types of skin care products are lotions and face & hand creams.

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Middle East & Africa is projected to be the fastest-growing market for personal care ingredients during the forecast period.

The Middle East & Africa is projected to register the highest CAGR in the personal care ingredients market between 2022 and 2027 in terms of value. The growth is mainly attributed to the growing demand for halal-certified products, which is boosting the demand for a variety of personal care products. This, in turn, is increasing the demand for personal care ingredients in the region. The increasing population and increase in disposable income in the region are driving the demand for personal care products, which, in turn, is driving the demand for personal care ingredients.

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