Forecasting Growth: Personal Care Ingredients Market Set to Expand with a 5.0% CAGR from 2023 to 2033

Posted on 2024-02-29 by Future Market Insights in Chemicals // 0 Comments

The personal care ingredients market is poised for substantial growth, with an anticipated average Compound Annual Growth Rate (CAGR) of 5.0% from 2023 to 2033. Forecasts suggest a significant expansion, with the market projected to reach a market share of US$ 20.44 billion by 2033, marking a substantial increase from its value of US$ 12.55 billion in 2023. This growth trajectory underscores the increasing demand for personal care products globally, driving the need for innovative and diverse ingredients to cater to evolving consumer preferences and trends.

The rising demand for organic and natural ingredients for personal care in supplements, cosmetics, and consumables is flourishing the market growth. Furthermore, the expanding men’s segment for personal care with the gender-neutral fashion trends in the market growth.

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Key Points

The United States market leads the North American personal care ingredients market in terms of market share in North America. The United States held a market share of 19.8% in 2022. The factors attributed to the higher cosmetic and personal care consumption, new brands launching organic products, and greater influence of social platforms.
The German personal care ingredients market held a market share of 11.6% in 2022. Higher imports cause market growth. Europe is the hub of the fashion industry, along with the demand for projects.
The Indian market thrives at an average CAGR of 5.1% between 2023 and 2033. The growth is attributed to the increased per capita income, changing lifestyle, and the effective influence of social media.
The Chinese market also thrives at a CAGR of 4.2% during the forecast period.
Based on product type, the emollient segment leads the market, as it held a market share of 35.1% in 2022.
Based on application type, the skincare segment strives as it accumulated a revenue share of 35.6% in the global market in 2022.

Competitive Landscape

The key suppliers focus on launching more products involving organic and natural components. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

Clariant AG has introduced a new range of personal care products in India with plant-based actives, vegetable oils, and natural emulsifiers.
Wacker Chemie AG has recently launched make-up, hair care, sun care, oral care, insect repellant, skincare, and bath care products with the focus of producing natural and chemical effects of higher effectiveness.

Top Key Players in the Personal Care Ingredients Market

Croda International Plc.
BASF SE
Ashland Global Inc.
Evonik Industries AG
Akzo Nobel N.V.
Clariant AG
Dow Chemical Company
Wacker Chemie AG
Lonza Group Ltd.
Solvay S.A

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Segmentation Analysis of the Personal Care Ingredients Market

By Application:

Skin Care
Make-Up
Oral Care
Hair Care

By Product Type:

Emollients
Surfactants
Emulsifiers
Antimicrobials
UV Absorbers
Conditioning Polymers
Rheology Modifiers
Colorants and Preservatives

By Consumer:

Manufacturer
Consultants in Chemical Industries
End-use Industries

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia Pacific
The Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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