Product ID: SQMIG30L2160
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 Insights
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 market for personal care ingredients is influenced by changes in lifestyle and the growing disposable income of consumers in developing countries. Similarly, the growing numbers of functional personal care ingredients as well causes the market to thrive too. The market suppressing factor is the government regulation of cosmetics, healthcare and hygiene products. The other advantage is large market potential in the emerging markets which also drives the growth of the market soon. The market for multifunctional personal skin care ingredients is developing at lightning speed. Some of the major components are surfactants, rheology modifiers, emulsifiers, & emollients Surfactants play important roles in many aspects of cosmetics, such as skin care, hair care, ointments, gels, creams, etc. The industry is consistently revolutionizing with regards to guidelines attached to the new trends set by consumer preferences. Nicknamed ‘Olein Begetters’ at the latter part of the 19th century, surfactants earlier had only two major application areas - soap and shampoo - in this industry.
The trend, however, is also gaining ground in the realm of cosmetics use of surfactants in lotions and cold creams. Surfactants, emulsifiers, and rheology modifiers are quite widespread in use in different industries for many purposes. The market size of these ingredients is growing at a quick rate because of their diverse roles across different industries. China, India, Brazil, Mexico, Indonesia, and Saudi Arabia, being that they were among the top six developing countries, are also in the world's top 20 economies based on GDP (nominal). Many developed countries now are mature, so these organizational markets are well-paying for firms. In 2019, the aggregate of the BRIC countries (3.08 billion people) is over four times that the G7 countries (0.77 billion people). Asia Pacific and Middle East & Africa are predicted to be the most rapidly growing territories in the personal care industry owing to the huge reserves of resources required in these regions. It is the trends and lifestyles of people spread across these regions that are the primary growth drivers of the personal care industry.
Global Personal Care Ingredients Market Report Snapshots
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