CHICAGO, Nov. 6, 2020 /PRNewswire/ -- According to the new market research report "Personal Care Ingredients Market by Ingredient Type (Emollients, Surfactants, Rheology Modifiers, Emulsifiers, Conditioning Polymers, Others), Application (Skin Care, Hair Care, Oral Care, Make-up, Others), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Personal Care Ingredients Market is projected to reach USD 13.9 billion by 2025, at a CAGR of 4.0% from USD 11.4 billion in 2020.
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The growth of the Personal Care Ingredients Market is primarily triggered by the changing lifestyle and increasing purchasing power of consumers in developing countries. Moreover, an increase in demand for multifunctional personal care ingredients is another factor driving the Personal Care Ingredients Market. The personal care industry is driven by various ingredients and chemicals. The market size of these ingredients is growing rapidly because of their various applications, not just in the personal care industry. This is boosting the personal care industry. Some of the major ingredients are surfactants, rheology modifiers, emulsifiers, and emollients.
Emollients is the largest ingredient type of Personal Care Ingredients Market.
The emollients segment accounted for the largest share of the global Personal Care Ingredients Market in terms of value in 2019. This is mainly because emollients contain various compounds with soothing and smoothening properties, which establish a protective barrier on the skin's surface. Everyday use of emollients can be effective in various skin-related problems, such as eczema, psoriasis, and ichthyosis. They are used in skincare products in various forms, such as gels, lotions, and emulsion creams. Petroleum jelly or mineral oil-based emollients are the most commonly used emollients.
Skin care is estimated to be the largest application of the Personal Care Ingredients Market during the forecast period.
The skin care segment is the largest application segment of Personal Care Ingredients Market. The growing aspiration to have younger skin among the aging population in countries such as South Korea, Japan, and the UK is expected to increase the demand for personal care ingredients in skin care applications during the forecast period.
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Europe is estimated to be the largest market for personal care ingredients during the forecast period.
Europe is the largest market for personal care ingredients, followed by APAC and North America. This is owed to the higher price of personal care ingredients in Europe. Moreover, the inclination towards natural & organic personal care and easily biodegradable products is another factor which has led to higher price and its higher market size in terms of value (as these natural raw materials are to be imported from APAC as they are found in abundance in countries such as Indonesia and Malaysia). The presence of major luxury personal care & cosmetic manufacturers in the region, such as L'Oréal (France), Beiersdorf (Germany), and Clarins (France), is another factor that is driving the demand for personal care products and thereby personal care ingredients. Moreover, the demand for luxury skin care products, cosmetics, and perfumes is on the rise in European countries. This has led to their increased production, thereby driving the demand for personal care ingredients.
The key market players profiled in the report include as BASF SE (Germany), Dow (US), Clariant (Switzerland), Croda International Plc. (UK), Ashland (US), Solvay (Belgium), Evonik Industries AG (Germany), Nouryon (North Holland), and Lonza (Switzerland), among others.
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