According to the research report published by Polaris Market Research, the global personal care ingredients market was valued at USD 11.83 billion in 2021 and is expected to reach USD 16.83 billion by 2030, to grow at a CAGR of 4.1% during the forecast period.
The report Personal Care Ingredients Market: By Size, Trends, Share, Growth, Segments, Industry Analysis and Forecast, 2032 gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is driven by economic growth in developing countries, rising disposable income, and greater awareness toward individual hygiene. An increase in consumer concerns regarding beauty and wellness, growing demand for products with multiple functionalities, and shifting consumer trend toward using natural and bio-based products further supports the industry growth.
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The demand for the product is expected to increase in Asia-Pacific during the forecast period owing to population growth, rising disposable income, and growing demand for the products. Rising urbanization, increasing demand for cosmetics and wellness products, and adoption of the western lifestyle also support industry growth in this region. Global players are expanding their presence and setting up manufacturing units in this region on account of the availability of infrastructure, raw materials, and labor.
The demand for natural constituents is expected to increase during the forecast period. The growth in the organic cosmetics and makeup industry is also expected to drive the development of this segment during the forecast period. Growing hygiene and wellness concerns, especially among the youth, coupled with the growth of e-commerce platforms, are expected to provide growth opportunities in the coming years.
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The skincare segment accounted for a significant share in 2021. Growing demand for the products such as moisturizers, anti-aging creams, and sunscreen products, growth in the beauty and cosmetics sector, rising awareness regarding the products, and an increase in demand for the products from emerging economies drives the growth of this segment.
Personal care ingredients Market Report Highlights
- Synthetic ingredients accounted for a significant share in 2021 owing to increasing demand for the products from developing countries, rising disposable income, and growing consumer awareness
- Emollients accounted for a significant share in 2021 on account of wide use in beauty, individual hygiene, and cosmetic products for softening and soothing properties
- The skincare segment is expected to hold significant revenue share owing to greater demand for the products such as moisturizers, anti-aging creams, and sunscreen lotions, growth in the beauty and cosmetics sector, and growing awareness regarding natural and organic products
- Asia Pacific is expected to register high growth during the forecast period owing to the growing population, increasing disposable income, and growing urbanization
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Polaris Market Research has segmented the personal care ingredients market report based on source, type, and application
Personal Care Ingredients, Source Outlook (Revenue – USD Billion, 2018 – 2030)
- Natural
- Synthetic
Personal Care Ingredients, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Emulsifiers
- Surfactants
- Emollients
- Rheology Modifiers
- Conditioning Polymers
- UV Absorbers
- Antimicrobials
- Others
Personal Care Ingredients, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Hair Care
- Skin Care
- Make-up
- Oral Care
- Others
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