The massive application scope of Personal Care Ingredients Market spans skin care, hair care, and cosmetics, especially across the APAC belt. APAC product sales are likely to soar high during the forecast period, owing to the extensive demand for cosmetics and other personal care products, particularly in the emerging economies such as China and India. The region has also been witnessing the business expansion of renowned cosmetic and personal care brands, thereby impelling APAC personal care ingredients industry share, slated to cross a valuation of USD 4.4 billion by 2024.
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Another trend riding on the wave of popularity is that of using multifunctional products, subject to hectic consumer lifestyles. This is especially true for hair care products – of late, manufacturers have been developing products that incorporate the benefits of shampoos, conditioners, and hair moisturizers rolled into one compact product. This trend is also likely to fuel personal care ingredients market size from hair care. Speaking of which, conditioning polymers, used massively in hair care products, is likely to register a CAGR of 6% over 2017-2024, given the vast product popularity.
The skin care sector may emerge as one of most profitable revenue generating segments of personal care ingredients market, having held a valuation of USD 2.7 billion in 2016. The product range for skin care has been expanding by the day, and includes lotions, moisturizers, cleansers, toners, creams, sprays, etc. Personal care ingredient market giants, of late, have been utilizing probiotic bacteria such as bifidobacterium and lactobacillus in skin care products, thereby augmenting sales. Extensive innovation in products is thus, likely to emerge as one of the latest trends of personal care ingredients industry over 2017-2024.
A massive range of contemporary ingredients have been pushing their way in personal care ingredients market. Natural face masks made of charcoal, tea, dry sheets, clay, and caffeine, are the rage, and beauty companies have been pulling every string they can, to launch numerous products in the face mask category and beauty products containing herbal ingredients such as kale and the like. The period between 2017 to 2024 is likely to witness a plethora of such trends, which will drive personal care ingredients industry.
Hair care is another extremely lucrative segment of personal care ingredients industry, given the increasing consumer inclination toward multifunctional and water-based products. Global Market Insights, Inc., estimates personal care ingredients market share from hair care applications to grow at a rather healthy rate, having accounted for a valuation of USD 1.9 billion in 2016. Unique products in the category of emollients and conditioning polymers are being utilized in the manufacturing process of shampoos, conditioners, hair moisturizers, hair creams, hair serums, etc., to strengthen the hair and provide a smooth texture. Personal care ingredients industry size from conditioning polymers is anticipated to grow at a rate of 6% over 2017-2024, which will have a direct impact on the growth curve of personal care ingredients market.
Personal care ingredients industry is heavily consumer driven, and is one of those business spheres that depicts frequent changes in market trends. For instance, with the rise of the female workforce across urban locales, personal grooming has gained exceptional importance, which in a way, will be labelled as one of vital factors impacting personal care ingredients industry share. In fact, the latest trends seem to be shifting toward male grooming – the sales of male products such as shaving creams, gels, shampoos, lotions, deodorants, etc., have observed a monumental rise and are likely to transform the future of personal care ingredients market over the coming seven years. It has also been observed that in accordance with the market trends, product manufacturers have been fiercely combating against one another to emerge victorious on the battleground. With the passage of time, a slew of many other interesting trends is set to come aboard, which will lead to a massive change in the dynamics of global personal care ingredients industry share.
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Personal care ingredients market share is highly competitive due to presence of some gigantic industry players such as BASF SE, Evonik Industries, Croda International Plc, Akzo Nobel N.V., Dow Corning Corporation, Ashland Inc., Cargill Inc., Clariant, Eastman Chemical Company, Lonza Group Pvt. Ltd., Solvay S.A., LotionCrafter, Wacker Chemie AG, Naturex, etc.
Glimpse of Table of Content (ToC)
Chapter 3. Personal Care Ingredients Market Insights
3.1. Market segmentation
3.2. Market landscape, 2013 – 2024
3.3. Market ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Market impact forces
3.4.1. Growth drivers
188.8.131.52. Increased demand for cosmetics
184.108.40.206. Adoption of multifunctional personal care products
3.4.2. Market pitfalls & challenges
220.127.116.11. Compliance with stringent government regulations
18.104.22.168. Side effects of personal care ingredients
3.5. Growth potential analysis
3.6. Regulatory trends
3.7. Porter’s analysis
3.8. Company market share analysis, 2016
3.8.1. Strategy dashboard
3.9. PESTEL analysis
3.10. Regional price trends
3.10.1. Cost structure analysis
3.10.2. Raw material trends
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