Personal Care Ingredients Market to grow by USD 3.04 Billion from 2024-2028, driven by demand for multifunctional products, with AI driving market transformation - Technavio

Oct 18, 2024, 17:05 ET

Share this article

NEW YORK, Oct. 18, 2024 /PRNewswire/ --Report with the AI impact on market trends - The Global Personal Care Ingredients Market size is estimated to grow by USD 3.04 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.2% during the forecast period. Rising demand for multifunctional personal care products is driving market growth, with a trend towards growing focus of vendors on new product launches. However, stringent government regulations on BPC products and their ingredients poses a challenge - Key market players include Ashland Inc., BASF SE, Clariant AG, Croda International Plc, Dow Inc., Evonik Industries AG, Givaudan SA, ICHIMARU PHARCOS Co. Ltd., Innospec Inc., Kobo Products Inc., Koninklijke DSM NV, Kraton Corp., Merck KGaA, Nouryon, SEPPIC SA, Solvay SA, Stepan Co., Symrise Group, The Lubrizol Corp., and Vantage Specialty Chemicals.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Personal Care Ingredients Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.2%

Market growth 2024-2028

USD 3038.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.0

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 42%

Key countries

US, China, Germany, France, and India

Key companies profiled

Ashland Inc., BASF SE, Clariant AG, Croda International Plc, Dow Inc., Evonik Industries AG, Givaudan SA, ICHIMARU PHARCOS Co. Ltd., Innospec Inc., Kobo Products Inc., Koninklijke DSM NV, Kraton Corp., Merck KGaA, Nouryon, SEPPIC SA, Solvay SA, Stepan Co., Symrise Group, The Lubrizol Corp., and Vantage Specialty Chemicals

Market Driver

In the dynamic personal care ingredients market, companies are intensely focusing on introducing new products to cater to evolving consumer preferences and remain competitive. This trend is fueled by the burgeoning popularity of personal care items among Millennials and the expanding awareness of their advantages. Vendors are investing substantially in research and development to innovate ingredients that provide enhanced benefits such as anti-aging, UV protection, and improved skin and hair health. For instance, BASF launched Epispot in September 2023, a sustainably sourced cosmetic ingredient that enhances beauty and self-confidence for those with blemish-prone skin. Epispot targets common skin concerns like shine, enlarged pores, and blemishes by balancing lipids, microbiota, and the skin's natural defense system. It helps reduce skin shine, refine pores, and promote a radiant complexion, suitable for use in face serums, cleansers, and makeup formulations. In a similar vein, Evonik introduced Vecollage Fortify L in February 2024, a biotech-based vegan collagen addressing the rising demand for plant-based alternatives. This new ingredient, identical to natural skin collagen, demonstrates superior performance and showcases Evonik's expertise in biotechnology and skin care. It is designed for use in anti-aging and hydrating creams, highlighting the benefits of recombinant collagen on the dermis. The continuous emphasis on new product launches will continue driving the expansion of the global personal care ingredients market throughout the forecast period.

The Personal Care Ingredients Market is experiencing significant trends in various sectors. Xanthan gum and Guar gum are popular rheology modifiers in Makeup and Bath products. Specialty ingredients, such as Conditioning polymers, are essential for Skin Care. Climatic conditions impact the demand for UV filters and certification bodies like Soil Association ensure product authenticity. False labeling and pollution are major concerns, leading to increased focus on Active ingredients and Inactive ones. Personalized products cater to Hair-related issues. Inorganic and Organic rheology modifiers like Polyquaternium and Protein-based ingredients are used in Body washes, Lotions, Gels, Creams, and Multi-functional products. Surfactants and Emulsifiers are key Emollient products. Raw material prices and purchasing power influence market dynamics. Toxic wastes from production pose environmental challenges. Regulatory bodies monitor ingredient type, ensuring safety and compliance. Skin care remains a priority, with a focus on Sustainability and reducing the carbon footprint. In summary, the Personal Care Ingredients Market is dynamic, with trends driven by consumer preferences, regulatory requirements, and environmental concerns. Ingredients like Xanthan gum, Guar gum, and others play a crucial role in creating high-quality, effective, and eco-friendly Cosmetic products.

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This personal care ingredients market report extensively covers market segmentation by

1.1 Surfactants- The Personal Care Ingredients Market is a significant sector, supplying essential components for various cosmetic and personal care products. Key players in this market include BASF SE, Dow Inc., and Croda International Plc. These companies produce a range of ingredients, such as emollients, surfactants, and preservatives. Consumer preferences for natural and organic products are driving innovation, with an increasing focus on sustainable sourcing and eco-friendly production methods. Market size is projected to grow steadily due to rising demand for personal care products and population growth in developing regions.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Personal Care Ingredients Market encompasses a range of components, including Surfactants, Rheology Modifiers, Emulsifiers, Emollients, and various Cosmetic Products. These ingredients play essential roles in creating desirable textures, enhancing performance, and promoting skin health. However, concerns over Toxic Wastes and Health Risks associated with some raw materials have fueled the demand for alternatives. Purchasing Power and Raw Material Prices significantly impact the market, with consumers increasingly favoring Organic Rheology Modifiers and Inorganic Rheology Modifiers over their synthetic counterparts. Skin Care and Emollient Products dominate the market, with the Clean Beauty Movement driving demand for Multifunctional Ingredients and Natural Ingredients. Viscosity is a crucial factor in Personal Care Formulations, with various rheology modifiers used to optimize texture and consistency. Concentrated Shampoos and Premium Cosmetics continue to gain popularity, while Skincare, Cosmetics, Moisturizing, and Skin-conditioning remain key applications. The market faces challenges from concerns over Petrochemical-derived Ingredients and Synthetic Chemicals, leading to a shift towards Organic Ingredients and minimizing Skin Irritation. Overall, the Personal Care Ingredients Market is expected to grow, driven by consumer preferences and technological advancements.

Market Research Overview

The Personal Care Ingredients Market encompasses a range of components used in the production of cosmetics and skincare products. These include Surfactants, Rheology Modifiers, Emulsifiers, and Emollients. Surfactants reduce the surface tension between two liquids or between a liquid and a solid, enabling effective cleansing in personal care formulations. Rheology Modifiers control the flow and texture of products, with Organic and Inorganic types available. Emulsifiers stabilize oil-in-water or water-in-oil emulsions, while Emollients provide skin conditioning and moisturizing benefits. Cosmetic products span from Skincare and Cosmetics to Personal Hygiene items. Toxic wastes and health risks associated with synthetic chemicals have led to the Clean Beauty Movement, driving demand for Natural and Organic ingredients. Multifunctional ingredients, such as Soybean, Neem, Fish Oil, Xanthan Gum, and Guar Gum, offer cost-effective solutions for various product types. Climatic conditions, certification bodies, and consumer preferences influence purchasing power and raw material prices. Key ingredient types include Moisturizing, Skin-conditioning, and Active ingredients. Concentrated shampoos, Premium cosmetics, and Anti-aging products are popular in the market. Mild ingredients, such as Sulfate-free Anionic Surfactants, and Anti-microbial products cater to consumer health concerns. Skin irritation and toxicity from Synthetic chemicals have led to the popularity of Natural and Organic ingredients. Health forums and consumer awareness campaigns have highlighted the importance of label transparency and the need to avoid False labeling. The market includes a wide range of Personal Care products, from Makeup and Bath products to Specialty ingredients like Conditioning Polymers, Body Washes, Lotions, Gels, Creams, and Multi-functional products. Polyquaternium and Protein-based ingredients are popular choices for their versatility and effectiveness. The Personal Care Ingredients Market is influenced by various factors, including the Clean Beauty Movement, consumer preferences, and regulatory requirements. The market continues to evolve, with a focus on sustainable, eco-friendly, and personalized solutions.

Table of Contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio