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Personal Care Ingredients Market Size
- Report ID: GMI1753
- Published Date: Jul 2022
- Report Format: PDF
Personal Care Ingredients Market Size
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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Personal Care Ingredients Market Size in 2021: | USD 11,625.8 Million |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 6.3% |
| 2030 Value Projection: | USD 20,399.2 Million |
| Historical Data for: | 2018 to 2020 |
| No. of Pages: | 315 |
| Tables, Charts & Figures: | 362 |
| Segments covered: | Product, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
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Personal Care Ingredients Market Scope
