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2022

Personal Care ingredient Market

Personal Care ingredient Market Size, Share, Competitive Landscape and Trend Analysis Report by Source, Ingredients Type and Application : Global Opportunity Analysis and Industry Forecast 2022-2031

MC : Renewable, Speciality and fine chemicals

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Author's: Snehal Mohite| Bhagyashri Patil| Devashree Patwardhan | Eswara Prasad
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The global personal care ingredients market size was valued at $10.4 billion in 2021, and is projected to reach $18.5 billion by 2031, growing at a CAGR of 6.0% from 2022 to 2031.

Personal care ingredients are the raw materials which are used in the manufacturing of skin care products worldwide. These ingredients can be used in the skin care products as an anti-fungal agent, anti-ageing agent, skin conditioning agent, and others. They can also be classified as active and inactive ingredients. Active ingredients include anti-ageing agents, exfoliants, conditioning agents, and UV protecting agents whereas, inactive ingredients include surfactants, preservatives, colorants, and polymer ingredients.

Global Personal Care Ingredient Market 2022-2031

Rise in disposable incomes strengthened the purchasing power of consumers along with change in standard of living, which is expected to drive the growth of the personal care ingredients market from 2021 to 2031. In addition, increase in consumer awareness toward multi-purpose products fuel the growth of the market. However, side effects of chemical-based personal care products and stringent government regulations are the key factors hampering the personal care ingredients market growth during the forecast period. Whereas, innovations in skin care products and rise in health awareness & increase in demand for personal care products are expected to create opportunities in the global personal care ingredients industry during the analyzed timeframe.

The global personal care ingredients market is segmented on the basis of source, ingredients type, application and region. On the basis of source, the market is bifurcated into natural ingredients and synthetic ingredients. By application, the market is segmented into skin care, hair care, toiletries, makeup, fragrances, and oral care. Skin care is further sub-segmented into men, baby, sun care, hand/body lotion, and facial treatment.

Depending on type, the personal care ingredients market is divided into rheology control agents, emollients, UV absorbers, surfactants, emulsifiers, antimicrobials, hair fixative polymers, and conditioning polymers. The rheology control agents segment is further sub-segmented into hydrated silica, carboxymethyl cellulose, hydroxyethyl cellulose, organoclays, and others. The emollients segment is divided into emollients esters, glycerin, and others. The UV absorbers market is divided into avobenzone, octyl methoxycinnamate, bemotrizinol, and others. The surfactants segment is further sub-segmented into betaines, fatty alcohol ethoxylates, and others. Emulsifiers are divided into lecithin, glyceryl stearates, polysorbates, and others. The antimicrobials segment is further divided into phenoxyethanol, citric acid, parabens, and others. The hair fixative polymers segment is further sub-segmented into polyvinylpyrrolidone, acrylate, silicone, and others. The conditioning polymers segment is bifurcated into cyclomethicone, polyquaterniums, hydrolyzates, and others. Region wise, the personal care ingredients market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global personal care ingredient market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Ashland Global Holdings Inc., BASF SE, Berkshire Hathaway Inc. (The Lubrizol Corporation), Clariant AG, Croda International Plc, DOW, Inc., Evonik Industries AG, J.M. Huber Corporation, KCC Corporation (Momentive Performance Materials), and Solvay S.A. Other companies in accordance with personal care ingredients market are Wacker Chemie AG, Akzo Nobel N.V., Huntsman International, Cargill, Inc., Lonza Group, and others.

Global Personal Care Ingredient Market, by Source

The global personal care ingredients market has been analyzed on the basis of source, which includes natural ingredients and synthetic ingredients. The synthetic ingredients segment held the highest personal care ingredients market share of 66.5% in 2021 owing to increase in demand for skin care and other personal care products from the developing economies along with increase in purchasing power of consumers.

Global Personal Care Ingredient Market, by Ingredients Type

In 2021, on the basis of ingredients type, the UV absorbers segment dominated the highest market share of around 26.1% and is projected to maintain the same during the forecast period. This is owing to rise in demand for anti-aging formulations from the growing middle-aged and geriatric population and changing beauty trends.

Global Personal Care Ingredient Market, by Application

In 2021, on the basis of application, the skin care segment accounted for around 34.7% of the global personal care ingredients market share. This is owing to increase in demand for skin care products such as sun care products, body lotions, facial creams, and others from the consumers across the globe. In addition, the use of innovate ingredients such as polyhydroxy acids and plant-based retinol alternatives such as Bakuchiol to manufacture skin care products have created new personal care ingredients market trend

Personal care ingredient market, by region

By region, a developed region such as North America dominated the market, accounting for almost 32.8% of the global personal care ingredients market share and is expected to consolidate its position throughout the forecast period. This is owing to huge consumer base, increase in use of skin care products, and other personal care products in this region.

Key Benefits For Stakeholders

  • The report provides an in-depth analysis of the global personal care ingredient market trends along with the current and future market forecast.
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
  • Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the personal care ingredient industry for strategy building.
  • A comprehensive global personal care ingredient market analysis covers factors that drive and restrain the market growth.
  • The qualitative data in this report aims on market dynamics, trends, and developments.

Impact Of Covid-19 On The Personal Care Ingredient Market

  • COVID-19 has been spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020. Due to COVID-19 pandemic, transport limitations were implemented, which resulted in reduced industrial production and disrupted supply chains. Thus, affecting the global economic growth by a substantial proportion and severely impacting the personal care ingredient market growth. Companies were not earning any profit as a result of the work stoppage and not only the companies lost the money but they also lost suppliers who were providing the required materials to various companies to be used in the construction sector. All those suppliers also faced huge losses.
  • There is uneven impact of COVID-19 pandemic on the personal care ingredients market, due to the lockdown implemented in almost every economy across the globe to break the chain of spreading of coronavirus. This resulted in shutting off the operations, manufacturing, distribution, and beauty shops. Thus, there is decrease in demand for cosmetic products from the beauty shops, institutes, salons, and others, which in turn resulted in the sluggish growth in the 2020.
  • Demand for color cosmetics, hair styling, and sun care products declined significantly during the pandemic. Given the lockdowns and restrictions instituted by governments worldwide, people were forced to shift to working from home and avoiding recreational activities, leading to a decline in demand for these products. In turn, demand for cosmetics ingredients, hair fixative polymers, and UV-protection ingredients took a sharp hit in 2020. Furthermore, increase in demand for personal care & cosmetic products (Sanitizer, Soap, Disinfectants, & others) and other home cleaning chemicals is maintaining the growth rate of the personal care ingredients market, which in turn resulted in less impact of COVID-19 on this sector.
  • According to The American Chemistry Council (ACC), volume gain is occurred in the cosmetic additives and flavor & fragrances in the U.S. and other specialty chemicals segment registered decrease in volume gain during pandemic. But this change in personal care ingredients market may be different for other economies across the globe.
  • From beginning of 2021, various industries, manufacturing units, offices, shops started their operations due to which the demand for personal care ingredients improved across the globe. In 2021, the chemical industry resumed their operations due to which the demand and supply gap of raw materials required for personal care ingredients also improved.

Personal Care ingredient Market Report Highlights

Aspects Details
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By Source
  • Natural Ingredients
  • Synthetic Ingredients
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By Ingredients Type
  • Rheology Control Agents
    • Hydrated Silica
    • Carboxymethyl Cellulose
    • Hydroxyethylcellulos
    • Organoclays
    • Others
  • Emollients
    • Emollients Esters
    • Glycerin
    • Others
  • UV Absorbers
    • Avobenzone
    • Octyl Methoxycinnamat
    • Bemotrizinol
    • Others
  • Surfactants
    • Betaines
    • Fatty Alcohol Ethoxylates
    • Others
  • Emulsifiers
    • Lecithin
    • Glyceryl Stearates
    • Polysorbates
    • Others
  • Antimicrobials
    • Phenoxyethanol
    • Citric Acid
    • Parabens
    • Others
  • Hair Fixative Polymers
    • Polyvinylpyrrolidone
    • Acrylate
    • Silicone
    • Others 
  • Conditioning Polymers
  • cyclomethicone
  • polyquaterniums
  • hydrolyzates
  • others
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By Application
  • Skin Care
  • Men
    • Baby
    • Sun Care
    • Hand/Body Lotion
    • Facial Treatment
  • Hair Care
  • Toiletries
  • Makeup
  • Fragrances
  • Oral Care
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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By KEY MARKET PLAYERS
  • Ashland Global Holdings Inc
  • BASF SE
  • Berkshire Hathaway Inc.
  • Clariant
  • Croda International Plc
  • Dow Inc
  • Evonik Industries
  • J.M. Huber Corporation
  • KCC Corporation
  • Solvay S.A.

Analyst Review

According to the CXOs of the leading companies, rising living standards is one of the key factors expected to witness a significant increase in both the developed and the developing economies during the forecast period. Although Asia-Pacific has emerged as a lucrative region for investors, North America and Europe are perceived as mature markets for the personal care industry due to high growth rate in terms of revenue. For instance, increase in the demand for natural ingredients from various consumers across the globe is driving the growth of the personal care ingredients market during the forecast period.

Moreover, stringent government regulations toward synthetic/chemical based personal care products has enforced industries and manufacturers to adopt natural ingredients, which in turn drives the demand for natural ingredients. For instance, owing to the COVID-19 pandemic there is huge effect on the production of personal care products in the year 2020 due to the adaption of lockdown in almost all economies across the globe. Thus, this is expected to affect the growth of the market in the upcoming years.

The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.

Author Name(s) : Snehal Mohite| Bhagyashri Patil| Devashree Patwardhan | Eswara Prasad
Frequently Asked Questions?

Rise in disposable incomes and change in the standard of living and increase in consumer awareness toward multi-purpose products. These are the key factors driving the global personal care ingredients market

The global personal care ingredients market was valued at $10.4 billion in 2021, and is projected to reach $18.5 billion by 2031, growing at a CAGR of 6.0% from 2022 to 2031.

The global personal care ingredients market is segmented on the basis of source, ingredients type, application and region.

The leading players in the market are Ashland Global Holdings Inc., BASF SE, Berkshire Hathaway Inc. (The Lubrizol Corporation), Clariant AG, Croda International Plc, DOW, Inc., Evonik Industries AG, J.M. Huber Corporation, KCC Corporation (Momentive Performance Materials), and Solvay S.A.

Rise in health awareness and increase in demand for personal care products is anticipated to fuel the demand for automotive oils and greases during the forecast period.

COVID-19 has been spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020. Due to COVID-19 pandemic, transport limitations were implemented, which resulted in reduced industrial production and disrupted supply chains. Thus, affecting the global economic growth by a substantial proportion and severely impacting the market growth. Companies were not earning any profit as a result of the work stoppage and not only the companies lost the money but they also lost suppliers who were providing the required materials to various companies to be used in the personal care sector. All those suppliers also faced huge losses.

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Personal Care ingredient Market

Global Opportunity Analysis and Industry Forecast 2022-2031