Global Personal Care Ingredients Market To Reach $22.24 Billion By 2028 With A Growth Rate Of 8.1%
Personal Care Ingredients Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The personal care ingredients market has experienced robust growth in recent years, expanding from $15.08 billion in 2023 to $16.29 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to beauty and wellness trends, skincare and cosmetics innovations, consumer demand for natural and organic products, aging population and anti-aging products, regulatory standards for ingredient safety.
What Is the Future Market Size of the Global Personal Care Ingredients Market and Its Yearly Growth Rate?2
The personal care ingredients market is projected to continue its strong growth, reaching $22.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to sustainable packaging and supply chain practices, continued demand for clean and green beauty, growth in personalized skincare products, expansion of men's grooming products, increasing focus on mental well-being. Major trends in the forecast period include microbiome-friendly personal care products, ai-driven skincare recommendations, vegan and cruelty-free ingredient options, nanotechnology in ingredient delivery, cbd and hemp-derived ingredients.
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What Are the Main Factors Driving Personal Care Ingredients Market Expansion?3
The rising young population is expected to boost the demand for the personal care ingredients sector during the forecast period. The growing desire to look attractive and presentable is fueling the demand for personal care products among the expanding youth demographic.
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Who Are the Main Competitors Driving the Personal Care Ingredients Market Forward?
Key players in the market include BASF SE, Ashland Inc., Solvay SA, Dow Chemical Company, Clariant AG, Croda International PLC, Evonik Industries AG, J.M. Huber Corporation, Huntsman International LLC, The Lubrizol Corporation, Akzo Nobel NV, Pharmacos, Nouryon Specialty Chemicals B.V.
How Are New Trends Transforming the Personal Care Ingredients Market Size?
Leading companies in the personal care ingredients industry are introducing biosurfactants to meet the growing demand for sustainable beauty care solutions. Biosurfactants are naturally occurring compounds produced by microorganisms that reduce surface tension and improve the interaction between liquids and solids.
What Are the Key Segments Within the Global Personal Care Ingredients Market?
1) By Ingredients: Emollients, Surfactants, Emulsifiers, Rheology Modifiers, Conditioning Polymers, Other Ingredients
2) By Source: Natural Ingredients, Synthetic Ingredients
3) By Application: Skin Care, Hair Care, Oral Care, Cosmetics, Other Applications
North America’s Role as the Foremost Player in the Personal Care Ingredients Market
North America was the largest region in the personal care ingredients market in 2023. Europe was the second largest market in the market share. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Personal Care Ingredients Market Definition?
Personal care ingredients are used in products like skincare, haircare, oral care, and makeup. These ingredients are typically sourced from both synthetic and natural origins. Synthetic materials include parabens, sodium lauryl sulfate, formaldehyde, and propylene glycol, while natural ingredients encompass cocoa butter, coconut oil, soy seeds, and essential oils.
The Personal Care Ingredients Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Personal Care Ingredients Market Report: Trends, Opportunities, Strategies, and More
The Personal Care Ingredients Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into the personal care ingredients market size, personal care ingredients market drivers and trends, personal care ingredients industry major players, personal care ingredients competitors' revenues, personal care ingredients market positioning, and personal care ingredients market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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