Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Personal Care Ingredients Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The personal care industry is poised for significant expansion as the global market for personal care ingredients witnesses unprecedented growth. A comprehensive market research report has recently been added to our website's extensive repository, offering in-depth knowledge and predictive analytics on this booming sector.
The new report meticulously dissects several critical market facets, including emerging trends like sustainability and the booming influence of the youth demographic. With a fine-grained analysis of market dynamics, the report presents an enlightening perspective on the recent historical growth trajectory, with the market size catapulting from $15.08 billion in 2023 to an anticipated $16.29 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%.
The global personal care ingredients market is further projected to burgeon to $22.24 billion by 2028, maintaining a steady CAGR of 8.1%.
Synthetic and Natural Ingredients Drive Industry Evolution
The personal care sector's evolution is underpinned by an array of ingredients, both from synthetic and natural sources. Beauty and wellness trends, coupled with consumer inclinations towards natural, and organic products, have significantly influenced product formulations. The categorization of personal care ingredients into emollients, surfactants, emulsifiers, rheology modifiers, and conditioning polymers outlines the varied functions that contribute towards the sensory appeal and efficacy of personal care products.
Technological Advancements in the Spotlight Key Market Drivers and Technological Innovations
- The influence of AI and nanotechnology in product formulations and ingredient delivery.
- Development of microbiome-friendly personal care products.
- Increasing use of sustainable and biodegradable ingredients, like biosurfactants.
- The integration of non-conventional ingredients such as CBD and hemp-derived compounds.
Moreover, e-commerce's growth has served as a catalyst for the industry, with online sales channels significantly influencing consumer purchasing decisions and expanding the reach of diverse personal care ingredients.
Regional Market Overview
In terms of geographic segmentation, North America emerged as the market leader in 2023, with Europe trailing closely behind. The report provides a comprehensive regional analysis that encompasses market conditions across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Insight and Competitive Landscape Industry Leaders and Competitive Developments
The personal care ingredients market landscape is highly competitive, with key players swiftly adapting to the demand for sustainable and innovative beauty solutions. This includes the introduction of ground-breaking emollients and increased investments in plant-based extract production facilities. These strategic moves by industry leaders underscore the market's dynamic nature and its alignment with consumer preferences for sustainability and efficacy.
Demographics and Consumer Behavior
The burgeoning young population, fervently inclined towards maintaining a well-groomed appearance, is a significant factor propelling the demand for personal care ingredients. Moreover, a growing focus on mental well-being is reflected in product offerings, with formulations designed to cater to holistic wellness trends.
Conclusion and Forecasted Growth
The personal care ingredients market is solidifying its position as a bedrock of innovation and growth in the global personal care industry. With new sources of growth driven by technological advancements, consumer behavior, and a heightened focus on sustainability, stakeholders across the spectrum are equipped with actionable insights through the report, laying the groundwork for informed decision-making and strategic planning. For detailed insights on market segments, competitors, and the future scope of the personal care ingredients industry, interested parties are encouraged to explore the comprehensive report now available.
A selection of companies mentioned in this report includes
- BASF SE
- Ashland Inc.
- Solvay SA
- Dow Chemical Company
- Clariant AG
- Croda International PLC
- Evonik Industries AG
- J.M. Huber Corporation
- Huntsman International LLC
- The Lubrizol Corporation
- Akzo Nobel NV
- Pharmacos
- Nouryon Specialty Chemicals B.V.
- Lonza Group Ltd.
- Berkshire Hathaway Inc.
- KCC Corporation
- Galaxy Surfactants Ltd.
- Oxiteno SA
- Eastman Chemical Company
- Saudi Basic Industries Corporation
- Symrise AG
- Sinerga SpA
- SG Ceresco Inc.
- Pride Seeds
- Grain Millers Inc.
- Innospec Inc.
- AEP Colloids Inc.
- Jarrow Formulas Inc.
- Soliance
- Wacker Chemie AG
For more information about this report visit https://www.researchandmarkets.com/r/2r0rin
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
