Personal Care Ingredients Market Analysis

Personal Care Ingredients Market Analysis

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 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 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.