ID: MRFR/CnM/2602-CR | September 2019 | Region: Global | 135 pages
Global Cosmetics & Personal Care Ingredients Market is projected to reach USD 14,170.26 Million in value by 2025, growing with a CAGR of over 5.78% during the review period. Chemicals or naturally derived ingredients synthesize cosmetics and personal care ingredients. These ingredients are combined and formulated to improve various cosmetic products' properties.
The COVID crisis has dampened the cosmetics industry's development considerably, as individuals have had a lesser need to step out due to the lockdowns. When they step out, they need to wear masks in public has relatively curbed cosmetic items' demand. The demand for personal care products has remained relatively stable as individuals are more invested in pampering themselves while staying indoors. Spas and salons are being shut more frequently throughout the year. However, with the vaccine administration, as more movement is allowed and the per capita income levels stabilize, the cosmetics sector is estimated to make a comeback.
Surge In Personal Disposable Income Levels
The mounting per capita disposable revenue and the developing number of working professionals have elevated the spending on individual grooming, which, in turn, is assessed to drive the personal care industry growth.
Preference For Multi-Purpose Cosmetic Products
Increasing consumers' proclivity towards versatile products, especially among the employed population, is likely to expand skincare ingredients' requirement. Also, consumers' chaotic lifestyles push them to streamline their daily beauty routines, making multipurpose products grow in approval. The several benefits such as anti-aging, moisturizing cleansing, UV protection, and antioxidants are estimated to promote the cosmetics & personal care ingredients market.
Requirement For Skin Lightening Products
Skin lightening products are the most used products in the Asia Pacific and the Middle East because of the increasing fixation towards fair skin tone among the youth and women residents and collective instances of social bias based on skin color.
Demand For Cruelty-Free Cosmetics
The requirement for cruelty-free cosmetics has risen, with consumers having an increased understanding of the approval procedures.
Increased Acceptance Of New Products
The high tendency to accept new product offerings will guide the progress of cosmetics & personal care ingredients market.
Bans On Certain Ingredients
The restrictions placed on the use of certain ingredients may reduce the global cosmetics & personal care ingredients market's growth pace in the future.
Based On Type
The formaldehyde segment is the quickest and major segment that controls around 17.4% share in 2018 and will progress similarly in the forecast period.
Based On The Application
The preservative segment is the fastest mounting segment projected to increase at a 4.5% CAGR during the forecast period.
Based On End Use
The skincare segment accounted for 32.6% in 2018, which is anticipated to intensify with a 7.1% CAGR as customers favor beautifying skin products to enhance their looks, boosting the demand for the global cosmetics & personal care ingredients market.
North American Region To Establish Dominance
The North American cosmetics & personal care ingredients market is an established market for cosmetic products. The US is the chief exporters of cosmetics. The US cosmetic industry invested in R&D to develop advanced products and beauty devices that hasten the cosmetics & personal care ingredients market throughout the forecast period.
APAC And Latin America To Show Promise
The Asia Pacific and Latin American regions are expected to observe fixed growth as clients in these regions deem cosmetic and personal care ingredients vital to building up self-esteem and developing their social lives. Consumers also appreciate the introduction of products in segments of good health and personal hygiene.
The leading players in the Cosmetics & Personal Care Ingredients Market are
Jan 2021 California passed new legislation prohibiting 24 chemicals from cosmetic use beginning in about four years. Known as the Toxic-Free Cosmetics Act, California Assembly Bill 2762 would, commencing January 1, 2025, forbid a person or entity from manufacturing, selling, delivering, holding, or offering for sale, in commerce any cosmetic product that contains any of several specified intentionally added ingredients, except under specified circumstances.
Jan 2021 Researchers from the University of Toledo in the US explored the cosmetic ingredients available to protect from blue light and looked at existing testing methods to substantiate protection claims. As science advanced in the blue light category, the personal care industry would increase further in protective product expansion. The researchers stated a few key cosmetic ingredient groups currently offer blue light protection claims, obtained through natural and synthetic means, including botanicals, algae-derived, vitamins, and UV filters. The largest number of ingredients offering blue light protection claims could be categorized as botanicals.
Jan 2021 LBB Specialties revealed the deal that adds CSS to its roster of subsidiary beauty ingredient distributors. The investment brings extra capital and commercial relations to support CCS's principals and customers' growth, building upon our dedicated CCS team's success. CCS distributes chemicals for nutraceutical, pharmaceutical, OTC, food and beverage, agriculture, and personal care.
Jan 2021 Pritzker Private Capital announced closing the deal with multinational specialty chemical company Vertellus. Many of the ingredients Vertellus makes for the personal care industry have applications in various categories like fragrance, lip care, and beauty in general, and other industry sectors like health, home care, and flavors. These ingredients include a few castor wax, hexadecane, methyl benzoate, zinc acetate, and many others.
Jan 2021 Tilley Chemical Company, a fragrance, and personal care ingredient distributor, has accepted SK Capital's investment. Tilley family retains leadership roles following SK Capital acquisition. SK Capital has investments in Venator companies that make low nano titanium dioxide (TiO2). The titanium dioxide pigment, knows as HOMBITAN AFDC101 used in color cosmetic and complexion product formulations, among others in its portfolio.
Jan 2021 Avant, a Hong Kong-based cultivated meat biotechnology start-up, has advanced a collagen ingredient from its cell cultivation technology to commercialize it for cosmetics use by early 2022. The novel, clean label, sustainable, and functional ingredient branded Zellulin is pointed for skincare and personal care products such as creams and serums. Zellulin can help counter oxidation applicable for anti-aging applications and potentially wound healing and dressing. In the form of a freeze-dried powder, it is water-soluble, odor-free, and non-GM. With a growing demand for clean label skincare products, the company was inspired to produce the ingredient utilizing its cell-based technology, which is essentially a soluble tank of fish cells, in a controlled environment.
Frequently Asked Questions (FAQ) :
The cosmetics & personal care ingredients market is predicted to grow at a 5.78% CAGR between 2017-2025.
The global cosmetics & personal care ingredients market is predicted to touch USD 14,170.26 million by 2025.
North America is predicted to dominate the cosmetics & personal care ingredients market.
Key players profiled in the cosmetics & personal care ingredients market include Coptis (US), Pharmacos (India), Sinerga S.p.A. (Italy), Symrise (Germany), SABIC (Saudi Arabia), Eastman Chemical Company (US), Dow (US), Croda International Plc (UK), Akzo Nobel N.V. (Netherlands), and BASF SE (Germany).
Demand for multipurpose products is the key factor boosting the market growth.