Personal Care Ingredients Market - By Product (Surfactants, Conditioning Polymers, Emollients, Rheology Control Agents, Emulsifiers, Antimicrobials), By Application (Skin Care, Hair Care, Oral Care, Cosmetics) & Forecast, 2024-2032
Report ID: GMI1753
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Published Date: September 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 15
Tables & Figures: 395
Countries covered: 19
Pages: 220
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Personal Care Ingredients Market
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Personal Care Ingredients Market Size
Personal Care Ingredients Market recorded USD 13.3 billion by 2023 and will witness 6% CAGR from 2024 to 2032, driven by the increasing consumer awareness of personal grooming and hygiene. Additionally, the rising launches from leading companies at events support the market.
For instance, in March 2024, Clariant, a leading global provider of personal care ingredients, participated in the Personal Care and Homecare Ingredients (PCHi) exhibition at the Shanghai World Expo Exhibition & Convention Center.
As consumers become more conscious of the ingredients in their personal care products, the demand for natural, organic, and sustainable ingredients has surged. Personal care ingredients play a crucial role in enhancing the efficacy, texture, and overall quality of products such as skincare, haircare, and oral care items. With the rising trend of clean beauty and the increasing demand for products free from harmful chemicals, the market for personal care ingredients is poised for robust growth over the forecast period.
The personal care ingredients market is set to experience substantial growth due to the increasing consumer preference for natural and organic products. As consumers become more educated about the potential health risks associated with synthetic chemicals, the demand for products formulated with natural ingredients has surged. This shift in consumer behavior is encouraging manufacturers to innovate and develop new formulations that cater to the growing demand for clean and sustainable personal care products.
Additionally, the rising partnerships between leading companies also support the market trends. For instance, in February 2023, Croda International Plc announced its agreement to acquire Solus Biotech from Solus Advanced Materials for KRW350 billion (about £232 million). Solus Biotech is renowned for its premium biotechnology-derived beauty actives.
However, the market faces challenges, particularly in terms of the high cost of natural and organic ingredients, which can be a restraint for market growth. Additionally, the stringent regulatory environment governing the use of certain chemicals in personal care products can pose challenges for manufacturers, leading to delays in product launches and increased compliance costs. Overcoming these challenges requires manufacturers to balance product innovation, cost efficiency, and regulatory compliance.
Personal Care Ingredients Market Trends
The personal care ingredients industry is witnessing notable trends, particularly the increasing demand for multifunctional ingredients. Consumers are seeking products that offer multiple benefits, such as moisturization, anti-aging, and UV protection, in a single formulation. This trend is driving the development of ingredients that can deliver enhanced performance across various personal care applications.
The rising number of company partnerships also supports the market. For instance, in March 2024, Symrise signed an agreement to establish a joint venture (JV) with Virchow Group, a pharmaceutical actives manufacturer based in Andhra Pradesh, to produce personal care ingredients from Symrise's portfolio.
Additionally, the market is seeing a growing emphasis on sustainable and ethical sourcing of ingredients. As consumers become more conscious of the environmental impact of their purchasing decisions, they are increasingly opting for eco-friendly and ethically sourced products. This has led to a rise in the use of biodegradable ingredients as well as a focus on reducing the carbon footprint associated with ingredient sourcing and production.
Personal Care Ingredients Market Analysis
The emollients segment accounted for a substantial share of the market in 2023 and will register 6.2% CAGR from 2024-2032. Emollients are essential ingredients in personal care formulations, providing skin conditioning, moisturization, and improving the texture and spreadability of products. The rising consumer demand for skin care products that offer long-lasting hydration and smoothness is driving the growth of this segment.
Emollients are widely used in a range of personal care products, including moisturizers, lotions, creams, and sunscreens. The increasing popularity of products catering to sensitive and dry skin types is further propelling the demand for emollients. Additionally, the growing trend of anti-aging products that target skin elasticity and firmness is contributing to the segment’s expansion. Manufacturers are focusing on developing innovative emollients that offer enhanced sensory benefits, such as a non-greasy feel and quick absorption, to meet evolving consumer preferences.
The cosmetics segment accounted for around 19% share in 2023 and will reach USD 4.7 billion by 2032, registering a CAGR of 7% from 2024 to 2032. The growth is attributed to the increasing consumer focus on dental hygiene and the rising awareness of oral health's impact on overall well-being. Ingredients used in oral care products, such as toothpaste, mouthwash, and dental floss, are essential to ensure effective plaque removal, fresh breath, and overall oral hygiene.
The demand for oral care products formulated with natural ingredients, such as herbal extracts and essential oils, is growing as consumers seek safer and more effective alternatives to traditional oral care products. Additionally, the rising prevalence of dental issues, such as cavities and gum disease, is prompting consumers to adopt preventive oral care routines, further boosting the demand for high-quality oral care ingredients. The increasing focus on dental aesthetics, such as teeth whitening and fresh breath, is also contributing to the growth of this segment, with manufacturers developing specialized ingredients to cater to these specific needs.
Europe personal care ingredients market will register 6% CAGR from 2024-2032. The region’s strong market position is attributed to the high consumer demand for premium and innovative personal care products, coupled with the presence of established cosmetics and personal care brands.
The European market is characterized by a growing preference for natural and organic personal care products, driven by increasing consumer awareness of the potential health risks associated with synthetic chemicals. This has led to a surge in demand for ingredients derived from natural sources, such as plant-based extracts and essential oils. Additionally, the region’s stringent regulatory framework, which emphasizes product safety and environmental sustainability, is pushing manufacturers to innovate and develop new formulations that comply with these standards.
Personal Care Ingredients Market Share
The demand for personal care ingredients is surging, driven by significant efforts from companies innovating within this sector. Firms like Symrise and Clariant are spearheading advancements by expanding their portfolios and entering strategic partnerships. Symrise’s joint venture with Virchow Group exemplifies this trend, aiming to enhance the production of specialized personal care ingredients. Similarly, Clariant’s participation in key industry exhibitions, such as PCHi, showcases its commitment to showcasing new technologies and products.
Personal Care Ingredients Market Companies
Some of the key manufacturers operating in the industry are
Personal Care Ingredients Idustry News
In May 2023, BASF SE announced the launch of a new range of natural emollients specifically designed for sensitive skin care products. These emollients are derived from renewable sources and offer excellent moisturizing properties while being gentle on the skin.
The personal care ingredients market report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in Kilo Tons revenue in USD million from 2021 to 2032 for the following segments:
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