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Personal Care Ingredients Market Size, Share and Industry Analysis Report by Product (Surfactants, Conditioning Polymers, Emollients, Rheology Control Agents, Emulsifiers, Antimicrobials) and Application (Skin Care, Hair Care, Oral Care, Cosmetics), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

  • Report ID: GMI1753
  • Published Date: Jul 2022
  • Report Format: PDF

Industry Overview

Personal Care Ingredients Market size was valued at nearly USD 11,625.8 million in 2021 and is estimated to grow at a CAGR of 6.3% from 2022 to 2030. The increasing use of certain ingredients in the manufacturing of organic & natural personal care products coupled with rising R&D expenditures, technological advancements in ingredient processing, and cost-efficient production techniques will drive the market growth.
 

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The increased significance of personal grooming and the rising women workforce in urban areas have positively impacted the market growth. As people are more concerned about their looks, sales of personal care products will increase. The global beauty & personal care market increased from USD 483 billion in 2020 to USD 511 billion in 2021 and is predicted to reach USD 716 billion by 2025. The market has also benefited from the availability of a wide variety of products as a result of the continued focus on innovation by several companies operating in the personal care ingredients market.
 

Personal care ingredients are raw materials used to manufacture skin care products and essentials. Growing consumer awareness about the harmful effects of chemicals and other petrochemical-based components used in the manufacturing of personal care products may hamper the market growth. Furthermore, petrochemicals used to manufacture ingredients for personal care products produce hazardous by-products and carbon emissions. However, the increasing use of natural and bio-based ingredients has enhanced the market growth.
 

For instance, enzymes that can manufacture bio-based solutions have been developed. In addition to minimizing carbon footprints, products made from bio-based materials can be designed to satisfy various customer demands. Specialty substances for use in the formulation of personal care products are constantly being developed by formulators, which has significantly improved the performance of the products. The increasing acceptance of performance-oriented ingredients is anticipated to drive the personal care ingredients market share.
 

The emollients segment will boost the market growth

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The emollients segment is expected to grow at CAGR of 6.5% from 2022 to 2030 due to their versatility in skin care, hair care, oral care, cosmetics, and hygiene products. Additionally, they have calming and soothing properties, followed by their ability to build a protective layer on the skin's surface. Skin care applications cover a wide array of skin-related needs including anti-aging, anti-acne, and sun protection. Modern emollients include zinc oxide, petrolatum, paraffin, glycerin, mineral oil, beeswax, coconut oil, olive oil, cocoa butter, lanolin, and synthetics such as butyl stearate & diglycol laurate.
 

The cosmetics industry is the dominating segment in the global market

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The cosmetics segment accounted for around 19% share in 2021 and is expected to reach USD 1,470 million by 2030, registering with a CAGR of 7.1% from 2022 to 2030. Along with population expansion and concurrent digitalization, new beauty standards are developing. It has presented a challenge and an opportunity for the personal care & cosmetics industry and allied businesses. Innovative strategies including new product launches, appealing packaging, and the use of natural ingredients have been adopted by cosmetics manufacturing companies to increase the sales of cosmetics products.
 

As cosmetics have become an increasingly important aspect of people's life, consumers, mainly women, desire to use cosmetics items that are portable and simple to use while attending social gatherings or travelling. In addition, using natural substances in the creation of cosmetic items is a well-liked marketing tactic among producers.
 

Europe to set to witness significant growth over the forecast period

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Europe held the largest market share in terms of value and is expected to grow at a CAGR of 6.4% during the forecast period, owing to the growing product demand in high-end cosmetics, skincare, hair care, oral care, and other goods. Cosmetics majorly include makeup products such as lipsticks, moisturizers, nail paints, face powders, gels, and creams. The high consumption of personal care products across the region has been fueling the personal care ingredients market sales in Europe.
 

Growth in the German personal care ingredients industry is due to the increasing customer interest in high-end cosmetics. Furthermore, it is one of the key countries with the world's fastest aging populations as a result, the demand for skin care products in the country is fueling the market expansion. The German skincare industry is also experiencing new product breakthroughs. For instance, in April 2022, German multinational Corporation, Beiersdorf stated that it will introduce the first skincare product ever to use recycled CO2.
 

Mergers & acquisitions, joint ventures, and product developments are among the key activities driving the market growth

The personal care ingredients industry is highly competitive with the presence of several small, medium & global manufacturers, catering to a wide range of activities. Some of the key manufacturers operating in the industry are Lonza Group Pvt. Ltd., Croda International Plc, Wacker Chemie AG, Clariant, Cargill Inc., Eastman Chemical Company, Ashland Inc., Solvay S.A., BASF SE, Evonik Industries AG., Dow, etc.
 

Mergers & acquisitions, strategic partnerships, joint ventures, and the expansion of dealer & production facilities, among others, are key strategies adopted by the market manufacturers. For instance, in September 2019, BASF SE acquired Isobionics. BASF SE aims to boost its technology for biotech-based ingredients and components.
 

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 2022 to 2030 for the following segments:

By Product

  • Surfactants
  • Conditioning Polymers
  • Emollients
  • Rheology Control Agents
  • Emulsifiers
  • Antimicrobials
  • Others

By Application

  • Skin Care
  • Hair Care
  • Oral Care
  • Cosmetics
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kiran Pulidindi, Hiralkumar Patel

Frequently Asked Questions (FAQ) :

Globally, the personal care ingredients market size is slated to surpass USD 20,399.2 million by 2030 and is anticipated to expand at around 6.3% CAGR through 2022-2030.
Personal care ingredients industry share from emollients segment will expand at nearly 6.5% CAGR over 2022-2030, due to the use of the compound in cosmetics, skin care, hygiene products, hair care and oral care products.
It is estimated that the personal care ingredients market share in Europe will record around 6.4% CAGR over 2022-2030, with increasing consumption of high-end cosmetics, skin care and oral care products, in countries like Germany.
Some of the leading personal care ingredients manufacturers worldwide include Eastman Chemical Company, Dow, Croda International Plc, Cargill Inc., Ashland Inc., Clariant, Evonik Industries AG., BASF and Solvay S.A., among others.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 15
  • Tables & Figures: 362
  • Countries covered: 19
  • Pages: 315
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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