Global Personal Care Ingredients Market Size, Share, Growth Analysis, By Type(Emollients & Moisturizers and Preservatives), By Application(Skincare and Haircare) - Industry Forecast 2024-2031

Report ID: SQMIG30L2160 | Region: Global | Published Date: March, 2024
Pages: 198 | Tables: 59 | Figures: 75

Global Personal Care Ingredients Market Regional Insights

North America dominated the global personal care ingredients market. The region benefits from a well-established cosmetics and personal care industry, coupled with high consumer awareness and disposable income. The United States is a key market within North America, driven by strong demand for premium and natural personal care products. The region is witnessing a surge in the usage of organic and natural ingredients, driven by growing health and safety concerns among consumers. Furthermore, increasing investments in research and development, as well as technological advancements, are propelling the growth of the market. Key players in the region are focusing on product innovation and differentiation to cater to the diverse consumer demands.

The APAC region is experiencing robust growth in the global personal care ingredients market, making it the fastest-growing region. Factors contributing to this growth include a large population base, rising disposable income, and a growing middle-class segment with changing lifestyle preferences. Countries such as China, Japan, South Korea, and India are major contributors to the market expansion in APAC. In China, for instance, there is a significant shift towards premium personal care products, driven by increasing consumer spending power and growing awareness of product quality.

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Global Personal Care Ingredients Market size was valued at USD 12.36 billion in 2022 and is poised to grow from USD 12.89 billion in 2023 to USD 18.05 billion by 2031, growing at a CAGR of 4.3% during the forecast period (2024-2031).

The global personal care ingredients market is characterized by intense competition among key players striving to gain a significant market share. Established companies and new entrants are focusing on product innovation, research and development, and strategic partnerships to stay ahead in the market. Key players are also emphasizing the development of customer-specific and region-specific products to cater to diverse consumer preferences. Mergers and acquisitions are common strategies employed to expand market reach and enhance product portfolios. The competitive landscape is dynamic, with players striving to meet evolving consumer demands and gain a competitive edge in the market. 'BASF SE (Germany)', 'Dow Chemical Company (US)', 'Croda International Plc (UK)', 'Clariant AG (Switzerland)', 'Evonik Industries AG (Germany)', 'Ashland Global Holdings Inc. (US)', 'Solvay SA (Belgium)', 'Lonza Group Ltd. (Switzerland)', 'Akzo Nobel N.V. (Netherlands)', 'Eastman Chemical Company (US)', 'Lubrizol Corporation (US)', 'DSM N.V. (Netherlands)', 'Givaudan SA (Switzerland)', 'Wacker Chemie AG (Germany)', 'Symrise AG (Germany)', 'Sensient Technologies Corporation (US)', 'Kao Corporation (Japan)', 'Croda International Plc (UK)', 'Innospec Inc. (US)', 'Seppic (France)'

One significant driver in the global personal care ingredients market is the increasing consumer awareness and demand for organic and natural products. Consumers are becoming more conscious about the potential harmful effects of synthetic chemicals present in conventional personal care goods. This growing awareness has fueled the demand for ingredients sourced from natural resources, as they are perceived to be safer and more environmentally friendly. Manufacturers are responding to this trend by developing and incorporating organic and natural ingredients into their product offerings.

The rising consumer desire for natural and sustainable ingredients is a prominent trend in the market for personal care products worldwide. Consumers are looking for goods made with eco-friendly, plant-based, and cruelty-free materials due to growing knowledge of the effects on the environment and health issues. As a result of this trend, the cosmetics sector is becoming more innovative as companies spend in R&D to find sustainable and organic alternatives to synthetic ingredients. Businesses that put an emphasis on clean and green formulations and ingredient sourcing transparency are gaining a competitive advantage. As a result, the market for personal care products is changing to include more eco-friendly and natural product options.

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Global Personal Care Ingredients Market Size, Share, Growth Analysis, By Type(Emollients & Moisturizers and Preservatives), By Application(Skincare and Haircare) - Industry Forecast 2024-2031

Global Personal Care Ingredients Market Regional Insights

Global Personal Care Ingredients Market Report Snapshots

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