Personal Care Ingredients Market to hit USD 20.3 billion by 2030, says Global Market Insights Inc.

Personal Care Ingredients Industry is projected to register 6.3% CAGR between 2022 and 2030 owing to rising interest in anti-aging solutions among the elderly population.

SELBYVILLE, Del., July 26, 2022 /PRNewswire/ -- The personal care ingredients market value is projected to cross USD 20.3 billion by 2030, according to a new research report by Global Market Insights Inc. Increasing purchasing power of consumers, changing lifestyles in developing regions, and rapid growth in the demand for multifunctional & natural personal care ingredients are the major factors fostering the market expansion.

Raw materials used in the production of skin care goods, such as skin moisturizers, lipsticks, nail paints, fragrances, face makeup, shampoos, hair colors, and antiperspirants, among many others, are known as personal care ingredients. Emollients, preservatives, emulsifiers, and surfactants are some of the main constituents. Popular natural elements such as sea buckthorn oil, pearl powder, and ceramides have recently emerged in personal care products.

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Social distancing norms and supply chain interruptions due to COVID-19 have impacted the demand for personal care ingredients throughout the crisis period. In the second and third quarters of 2020, most of the regions closed their manufacturing plants for substances used in personal care products. However, there are new opportunities for personal care products & ingredients companies to offer various products. Owing to social isolation and distancing norms, a large portion of the population across the globe identified the importance of 'me-time' and 'self-care'. This factor led to the increasing need for cosmetics & personal care products with bioactive ingredients, which have medical benefits.

Some of the major findings of the personal care ingredients market report include:

• Increasing per capita income and high consumption of personal care products will spur the business landscape.
• Market players are engaged in promotional activities, which will significantly increase the sales of personal care products, which in turn, will positively impact the market revenue.
• The market for ingredients used in personal care products is growing in Europe owing to the growing accessibility of personal care products.
• Rising usage of hair styling products is driving the hair care segment's share.

Browse key industry insights spread across 300 pages with 315 market data tables & 33 figures & charts from the report, "Personal Care Ingredients Market Analysis By Product (Surfactants, Conditioning Polymers, Emollients, Rheology Control Agents, Emulsifiers, Antimicrobials), By Application (Skin Care, Hair Care, Oral Care, Cosmetics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030", in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/personal-care-ingredients-market 

Personal care ingredients market from antimicrobial segment accounted for 26.7% revenue share by 2030. Antimicrobial compounds are utilized in personal care products in large amounts to stop bacterial growth in cosmetics and improve preservation. Personal care products are safe to use since they are fortified against potentially harmful germs owing to the use of antimicrobial additive products, often known as uncontaminated products. Over the anticipated period, the market share of antimicrobial additives in Europe is expected to increase due to the rising demand for cosmetics & personal care products and the presence of significant regional manufacturers.

Personal care ingredients market from hair care segment accounted for a significant share of 28.8% in 2021. Shampoos & rinses, permanent waves, hair straighteners, hair sprays, and hair conditioners are all part of hair care. The main driving elements behind the expanding hair care business are the demand brought on by an affluent lifestyle and individual preferences. Manufacturers are focusing on the older population, i.e., over 55 years, when developing new hair products such as oils, and colors.

Latin America personal care ingredients market is likely to grow at a CAGR of 6.1% during the forecast period. In the region, Brazil holds the major share of the regional demand. It is an emerging economy with a growing cosmetics industry. Mexico is another country with impressive progress in the last decade. The abundant labor pool offered by the country is its major strength. The growing middle-class population is the prime consumer of personal care products such as detergents, soaps, and toothpaste. The increased spending capacity has also created the demand for international personal care brands, consecutively boosting the regional market size.

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Prominent industry players operating in the personal care ingredients industry include BASF SE, Evonik Industries, Croda International Plc, Dow Corning Corporation, Ashland Inc., Wacker Chemie AG, Clariant, Cargill Inc., Lonza Group Pvt. Ltd., Solvay S.A., and Eastman Chemical Company.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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