Personal Care Ingredients Market to Grow with a CAGR of 5.66% through 2028
Surge in research and development activities is
expected to drive the Global Personal Care Ingredients Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Personal
Care Ingredients Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Personal Care Ingredients
Market stood at USD10.76 billion in 2022 and is anticipated to grow with a CAGR
of 5.66% in the forecast period, 2023-2028. The initiatives taken by government
based on personal care ingredients has led to favorable market conditions for
the Global Personal Care Ingredients Market. Several factors contribute to the
growth of various personal care ingredients products.
The FDA, also known as the Food and Drug
Administration, holds legal authority over the regulation of cosmetics and
personal care products within the United States. This authority encompasses
various responsibilities such as ensuring the safety of product ingredients,
enforcing labeling requirements, and providing guidance specifically tailored
to small businesses involved in the production of cosmetics.
It is important to note, however, that the FDA does
not mandate safety testing of ingredients in personal care products before they
are used. This means that the responsibility falls on manufacturers and
suppliers to ensure the safety of their products.
In addition to FDA regulations, the NSF, or National
Sanitation Foundation, has established the "contains organic
ingredients" standard. This standard not only outlines production
requirements but also sets guidelines for accurate labeling of personal care
products that contain organic ingredients. The aim is to guarantee that when a
product is labeled as organic, it genuinely contains organic ingredients,
providing consumers with accurate information about the products they purchase.
Research and development (R&D) play a critical
role in ensuring the safety and efficacy of personal care ingredients.
Extensive testing and thorough research are conducted to not only guarantee the
safety of new ingredients for human use but also to ensure their effectiveness
in delivering the desired results. This rigorous research and testing process
are essential in building consumer trust and driving the growth of the personal
care market. By investing in R&D, companies can continuously innovate and
improve their products, providing consumers with high-quality and reliable
personal care solutions.
In addition to safety and efficacy, R&D is also
making significant strides in the realm of personalized and customized personal
care products. Researchers are delving into a deeper understanding of
individual skin and hair types, aiming to develop ingredients that can cater to
specific customer needs. This level of personalization is becoming a major
selling point for personal care products, as consumers increasingly seek
tailored solutions that address their unique concerns. By leveraging advanced research
techniques and cutting-edge technologies, companies can create personalized
products that offer maximum benefits and satisfaction to their customers. This
trend not only enhances the overall customer experience but also opens up new
avenues for market growth and differentiation within the personal care
industry.
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Based on its ingredient, the emollients segment held the
largest share in the market. Emollients are widely used in a wide range of
personal care products, including antiperspirants, cleansers, skin creams, and
face cleansing agents. Their popularity can be attributed to their
skin-soothing and smoothing properties. These emollients not only help in
improving the quantity and shedding of skin cells associated with conditions
like psoriasis but also effectively alleviate dryness and irritation.
Additionally, these products have the ability to relax
plaques and cracks, enhance the skin's barrier function, soothe irritation, and
serve as a carrier for active clinical ingredients. Moreover, emollients with a
high oil content are known for their occlusive properties, creating a thin,
slippery layer on the skin that helps to trap moisture within. Emollients are
commonly classified based on their level of slickness or oiliness, allowing for
a more precise selection based on individual needs.
Based on region, Europe segment is expected to grow
during the forecast period.
The increasing income of buyers in the regular
individual care goods sector, driven by the growing awareness of the potential
risks associated with synthetic ingredients, has significantly propelled the
industry in the region. With customers having higher purchasing power and an
improved way of life, there has been a notable shift towards the adoption of
premium organic personal care products. This trend has led to a surge in the
utilization of natural ingredients in the formulation of these products, as consumers
increasingly prioritize the use of natural and organic options for their
personal care needs.
Major companies operating in Global Personal Care
Ingredients Market are:
- ASHLAND GLOBAL HOLDINGS INC.
- BASF SE
- BERKSHIRE HATHAWAY INC.
- CLARIANT AG
- CRODA INTERNATIONAL PLC.
- DOW INC.
- Evonik Industries AG
- J.M. HUBER CORPORATION
- KCC CORPORATION
- SOLVAY S.A.
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“Growing application of personal care ingredients in
various end user industries are key drivers of the personal care ingredients market.
Growth in competitive landscape and presence of well-established companies in
the market who are dedicated to enhance their productivity of personal care ingredients
with every passing year are anticipated to register an impressive growth to Global
Personal Care Ingredients Market in the forecast period.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Personal Care Ingredients Market By Ingredient (Emollients,
Emulsifiers, Surfactants, Rheology Modifiers, Active Ingredients, Others), By Application
(Skin Care, Hair Care, Oral Care, Make-Up, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Personal Care Ingredients Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Personal
Care Ingredients Market.
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