Personal Care ingredients Market Trends | Segmentation, Outlook, Industry Report 2032

 

The global personal care ingredients market is anticipated to reach a market value of US$ 19,452 Million by 2022, with a CAGR of 4.9% over the forecast period of 2022-2032. The market is anticipated to reach a value of US$ 12,056.20 Million in 2022.

The growing significance of personal grooming and research into producing skin-specific products can be ascribed to the expansion of the market for personal care ingredients. In the historical period from 2016 to 2021, the market for ingredients for personal care products experienced a 4% CAGR.

Personal Care ingredients Market Dynamics

Increasing urbanization, the number of working women, changing lifestyles, and rising hygiene and skin care awareness are some of the major factors driving the market for personal care ingredients. The need for personal care products has increased along with awareness of hygiene and personal health. The demand for ingredients for personal care products has increased as a result of the increased production of skincare and hair care products.

Natural components have a favourable impact on market expansion.

Young people’s active lifestyles, increased interest in skin care, and rising urbanisation are all predicted to lead to a substantial increase in demand for cosmetic ingredients. Ingredients for personal care products are the building blocks utilised to create basics and products for skin care. The market expansion has been accelerated by the rising use of natural and bio-based substances.

Personal Care Ingredients Market Competition

Key players in the personal care ingredients are Croda International plc. (U.K.), BASF SE (Germany), Ashland Global Inc. (U.S.), Evonik Industries AG (Germany), Akzo Nobel N.V. (Netherlands), Clariant AG (Switzerland), The Dow Chemical Company (U.S.), Wacker Chemie AG (Germany), Lonza Group Ltd. (Switzerland) and Solvay SA (Belgium) and Beiersdorf.

  • In January 2022, BASF SE launched peptovitae series- a new range of dermocosmetic peptides that will revolutionize the cosmetic industry. These peptides will allow manufacturers to innovate different solutions for skin concerns.
  • For instance, in April 2022, German Multinational Corporation, Beiersdorf stated that it will introduce the first skincare product ever to use recycled CO2. Through this, the company is focusing on reducing its carbon footprint.

 

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