Germany Personal Care Ingredients Market to Grow with a CAGR of 3.04% through 2028
Surge in research and development activities is expected
to drive the Germany Personal Care Ingredients Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “Germany
Personal Care Ingredients Market– By Region, Competition, Forecast and
Opportunities, 2018-2028F”, the Germany Personal Care Ingredients Market
stood at USD656.25 million in 2022 and is anticipated to grow with a CAGR of 3.04%
in the forecast period, 2023-2028. The initiatives taken by government based on
personal care ingredients has led to favorable market conditions for the Germany
Personal Care Ingredients Market. Several factors contribute to the growth of
various personal care ingredients market products.
One notable initiative is the
Natural Life Excellence Network 2020, which was established by the German
Ministry for Research and Education (BMBF) with the goal of fostering the
development and utilization of innovative ingredients across various
industries, including personal care. This forward-thinking program not only
supports the advancement of cutting-edge ingredients but also promotes
sustainability and environmental consciousness in product formulations.
In addition to the Natural
Life Excellence Network, Germany has implemented significant amendments to its
drug pricing and reimbursement laws. While these changes primarily impact the
pharmaceutical sector, their ripple effects can also be felt in the personal
care industry. This is particularly true for product formulations that
intersect with pharmaceuticals, such as certain skincare products. As a result,
companies in the personal care industry must navigate these evolving
regulations and ensure compliance while continuing to deliver effective and
safe products to consumers.
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Sustainability
plays a pivotal role in shaping and driving R&D efforts in the personal
care ingredients market. As consumers increasingly prioritize environmental
consciousness, the demand for products formulated with natural and organic
ingredients is on the rise. This growing trend has prompted companies to invest
extensively in research and development of these types of ingredients, aiming
to meet the evolving needs of conscious consumers. By focusing on sustainable
practices and incorporating eco-friendly elements, companies are not only
propelling market growth but also contributing to a greener and more
responsible future in the personal care industry.
The Germany
Personal Care Ingredients Market is segmented in ingredient, application, regional
distribution, and company.
Based on its ingredient, the emollients segment held
the largest share in the market. The inherent benefits of emollients are a key
factor that contribute to their dominance in the personal care industry.
Emollients play a vital role in maintaining the skin's moisture balance,
protecting the skin barrier, and providing a soft, smooth feel. By forming a
protective layer on the skin's surface, emollients help to prevent moisture
loss and maintain hydration, resulting in a healthier and more radiant
complexion.
Additionally, their soothing properties can help to
alleviate dryness, irritation, and discomfort, making them highly sought-after
ingredients in a wide range of personal care products. From lotions and creams
to lip balms and serums, emollients are an essential component that enhances
the overall efficacy and sensory experience of these formulations, delivering
nourishment and hydration for healthy-looking skin.
Based on region, North Rhine-Westphalia segment is
expected to grow during the forecast period.
The business environment in North Rhine-Westphalia,
Germany, is highly conducive for the growth of the personal care ingredients
market. The state government goes the extra mile in supporting businesses by
offering a comprehensive range of services. These include not only financial
incentives but also personalized assistance with site selection, tailored
guidance on navigating regulatory requirements, and access to a network of
industry experts. With such robust support, businesses in the personal care
ingredients sector can thrive and flourish in this dynamic region.
Major companies operating in Germany Personal Care
Ingredients Market are:
- Evonik Industries AG
- Croda International Plc.
- The Dow Chemical Company
- Solvay SA
- Clariant AG
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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 Germany 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 Germany 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 Germany Personal Care Ingredients Market.
Contact
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Techsci Research LLC
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10170
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