The growing demand for multifunctional personal care products, the increasing awareness about association between personal care, hygiene and health in developing regions, and the growing purchasing power in developing regions are boosting the Personal Care Specialty Ingredients market.
Market Size – USD 15.38 Billion in 2019, Market Growth – CAGR of 4.5%, Market Trends – The rising demand for Personal Care Specialty during growing demand for personal care products amidst the COVID-19 pandemic
The Global Personal Care Specialty Ingredients market is forecast to reach USD 22.00 Billion by 2027, according to a new report by Reports and Data. One of the major driving factors fostering the growth of the market is increasing expenditure on personal grooming, which is supported by growing per capita disposal income. It is also contributing to the growing demand for these specialty ingredients. There has also been an elevating awareness and understanding of the association between personal hygiene, personal care, and health in developing regions, which is also supporting the expansion of the sector in these regions. The expansion of the industry in these regions is also supported by healthy employment and growing GDP. The growing demand for multipurpose products is another mentionable factors supporting the growth of the sector. The COVID-19 pandemic is also acting as a propelling factor for the expansion of the market.
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Key participants include BASF SE, Vantage Specialty Ingredients, Inolex, Ashland, Inc., Naturex, Adina Cosmetic Ingredients, Cosmetic Ingredients (Pty) Ltd., Avenir Ingredients, Treatt and
Further key findings from the report suggest
- In context to Ingredient Type, the Formaldehyde segment held a significant market share of more than 15.0% in 2019. The market share held by the Formaldehyde segment is attributed to its wide arena of applications in personal care products ranging from soaps, lotions, shampoos, among others, which contributes to the market share held by this segment. The main reason for using this ingredient is providing protection to the product from contamination of bacteria during its continued use and storage.
- In context to Product, the Inactive product segment held a considerable share of the market of more than 60.0% in 2019. The market share held by the Inactive product segment is attributed to the effectiveness of the product in developing the benefits of individual elements of cosmetic formulations, which results in its high demand among end-users, contributing to the market share held by this segment.
- In context to End-use, the Skincare segment held a considerable share of the market of more than 35.0% in 2019. Skincare products usually include moisturizers, lotions, and creams, among others. The market share held by the Skincare segment is attributed to growing demand skin beautifying products, which comprises of properties like skin smoothening, brightening and soothing properties that are contributing to the market share held by this segment.
- In May 2020, BASF announced the initiation of its functioning in South Carolina, wherein it is emphasizing on manufacturing opacifiers and pearlizers. The blend is essential ingredients for opacity or shimmering effect in personal care products like shampoos, soaps. With this expansion, the company could not only strengthening its industry positioning but it is also catering to the increasing demand for the specialty ingredients among end-users.
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For the purpose of this report, Reports and Data have segmented the Personal Care Specialty Ingredients market on the basis of Ingredients Type, Product, End-use, and region:
Ingredients Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Titanium Dioxide
- Sodium Lauryl Sulphate
Product Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
End-use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Hair Care
- Skin Care
- Oral Care
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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Radical Features of the Personal Care Specialty Ingredients Market Report:
- Valuable insights into the Personal Care Specialty Ingredients market to impart an in-depth understanding of the business verticle
- An 8-year forecast estimation along with an analysis of key elements of the market
- Technological advancements, regulatory framework, and recent developments covered in the report
- Growth analysis and projections until 2027
- Statistical analysis of the key players operating in the Personal Care Specialty Ingredients industry
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