Global Cosmetics and Personal Care Ingredients Market Overview
The Cosmetics and Personal Care Ingredients Market Size was valued at USD 9.63 billion in 2023. The Cosmetics and Personal Care Ingredients industry is projected to grow from USD 10.18 Billion in 2024 to USD 15.09 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.04% during the forecast period (2024 - 2032). Increased consumers' bias toward the versatility of products is the key market driver enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Cosmetics and Personal Care Ingredients Market Trends
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Innovative product branding and advertising is driving the market growth
Innovative product branding helps customers immediately recognize the product. Product branding is a strategic combination of design and experience that uniquely identifies a product and sets it apart from other products in the category. The rise of digital technologies has influenced consumers' buying behavior in the personal care products market. The major personal care brands in the market are increasing their digital technologies to enable consumers to experience brands in an entirely new way. Technological advancements, innovative branding, and advertising strategies have made accessing personal care and hygiene easy. Major beauty companies and brands continuously innovate their product branding and advertising strategies to reach a wider audience base and increase customer engagement. Many brands have been using social media platforms as a major strategy to enhance brand reach in recent years. This factor drives the Market CAGR. Additionally, personal care ingredients are the raw materials used to manufacture skincare products worldwide. Ingredients used in skincare products are anti-fungal, anti-aging, skin conditioning, and others. Personal care ingredients can be classified as active and inactive ingredients. Active ingredients include anti-aging agents, exfoliants, conditioning agents, and UV-protecting agents, whereas inactive ingredients include surfactants, preservatives, colorants, and polymer ingredients. The increasing demand for self-care products to combat stress and anxiety, and the tendency of consumers to increase their engagement in self-care routines to feel good and look better, has been the major driver for market growth. The interest in natural and organic ingredients has further increase the awareness and demand for skin care products such as face masks, body scrubs, toners, and serums among users, as it emphasizes changing their existing skin care. Furthermore, the personal care industry is very important in every developed and developing economy. The rise in disposable incomes strengthened the purchasing power of consumers. Accelerated urbanization and increasing urban population with changing lifestyle demands are important drivers for the increasing demand for personal care products. The growing economy has increased disposable income with a population in urban areas. This has increased the spending capacity of the urban population. Millennials form a major part of the urban population and consumer spending. They are at the forefront of the beauty athleisure trend. It constitutes a major significant factor in spending on beauty products and cosmetics. Increasing social media trends and the need to look good are expected to boost market demand. Thus, driving the Cosmetics and Personal Care Ingredients market revenue.
The bio-based cosmetics and personal care ingredients market is experiencing robust growth, driven by increasing consumer demand for sustainable and eco-friendly products
Cosmetics and Personal Care Ingredients Market Segment Insights
Cosmetics and Personal Care Ingredients Type Insights
The Cosmetics and Personal Care Ingredients market segmentation, based on type, includes Formaldehyde, Glycerols,
Titanium Dioxide, Isopropyls, Alcohols, Dimethicone, Sodium Lauryl Sulphate, Parabens, Tocopherols, Benzones, Oleochemical, Surfactants, Polymer, Botanical Extracts, Others. The formaldehyde segment dominated the market because formaldehyde is a versatile ingredient that can be used in various cosmetic and personal care products, including hair styling products, skin care products, and nail care products.
Cosmetics and Personal Care Ingredients Application Insights
The Cosmetics and Personal Care Ingredients market segmentation, based on application, includes
emulsifiers
, stabilizers, preservatives, thickeners, moisturizers, emollients, and others. The preservatives segment dominated the market because preservatives are used in various cosmetic and personal care products to prevent the growth of bacteria, mold, and other microorganisms. This includes skin care products, hair care products, makeup products, and fragrances.
Cosmetics and Personal Care Ingredients End-Use Insights
Based on End-Use, the Cosmetics and Personal Care Ingredients market segmentation includes Skincare, Haircare, Fragrance, Bath &Shower, and others. The Skincare segment dominated the market because the customers favor beautifying skin products that help enhance their looks and further boost their confidence and demand, resulting in the expansion of the cosmetics and personal care ingredients market size.
Figure1: Cosmetics and Personal Care Ingredients Market, by End-Use, 2022&2032(USD billion) 
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Cosmetics and Personal Care Ingredients Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Cosmetics and Personal Care Ingredients market will dominate due to growing awareness regarding the properties of beauty & personal care products, which will boost the market growth in this Region. Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: COSMETICS AND PERSONAL CARE INGREDIENTS MARKET SHARE BY REGION 2022 (%) 
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Cosmetics and Personal Care Ingredients market accounts for the second-largest market share due to the growing characteristics of personal care products. Further, the German Cosmetics and Personal Care Ingredients market held the largest market share, and the UK Cosmetics and Personal Care Ingredients market was the fastest-growing market in the European Region. The Asia-Pacific Cosmetics and Personal Care Ingredients Market is expected to grow fastest from 2023 to 2032. This is due to the rising young population. Moreover, China’s Cosmetics and Personal Care Ingredients market held the largest market share, and the Indian Cosmetics and Personal Care Ingredients market was the fastest-growing market in the Asia-Pacific region.
Cosmetics and Personal Care Ingredients Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Cosmetics and Personal Care Ingredients market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Cosmetics and Personal Care Ingredients industry must offer cost-effective items. Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Cosmetics and Personal Care Ingredients industry to benefit clients and increase the market sector. The Cosmetics and Personal Care Ingredients industry has offered some of the most significant advantages in recent years. Major players in the Cosmetics and Personal Care Ingredients market, including DongmingJujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), SABIC, Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Artec Chemical Company Limited, Chemanol and DOGOIDE Group., and others, are attempting to increase market demand by investing in research and development operations. BASF SE, an initialism, and portmanteau for its original name BadischeAnilin- und Soda-Fabrik, is a European multinational company and the largest chemical producer in the world. Its headquarters are in Ludwigshafen, Germany. BASF SE introduced a new production line at the Kaohsiung site in Taiwan to double the production of Uvinul a Plus, an ingredient used for UVA (UV longest wavelength) protection. It is used in various sun and skin care formulations. The production line was introduced to meet the rising consumer demand in the Asia Pacific market. The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most followed equity indexes. Dow showcased sustainable beauty formulation and ACULYN rheology modifiers. This product reduces carbon footprint and is very easy to use.
Key Companies in the Cosmetics and Personal Care Ingredients market include
- Croda International Plc. (UK)
- Evonik Industries AG (Germany)
Cosmetics and Personal Care Ingredients Industry Developments
July 2020:
BASF SE and Isobionics (Netherlands) launched a joint product IsobionicsSanta lol. It is manufactured from a renewable resource. The product is an alternative to sandalwood oil.
June 2020:
BASF SE partnered with BTC Europe to distribute its care creation portfolio. This brings the whole portfolio in one place for the time, increasing efficiency and simplifying the supply chain for personal care customers.
Cosmetics and Personal Care Ingredients Market Segmentation
Cosmetics and Personal Care Ingredients Type Outlook
Cosmetics and Personal Care Ingredients Application Outlook
Cosmetics and Personal Care Ingredients End-Use Outlook
Cosmetics and Personal Care Ingredients Regional Outlook
| Attribute/Metric |
Details |
| Market Size 2023 |
USD 9.63 billion |
| Market Size 2024 |
USD 10.18 billion |
| Market Size 2032 |
USD 15.09 billion |
| Compound Annual Growth Rate (CAGR) |
5.04% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Type, Application, End-Use and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
DongmingJujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), SABIC, Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Artec Chemical Company Limited, Chemanol and DOGOIDE Group |
| Key Market Opportunities |
Demand For Cruelty-Free Cosmetics |
| Key Market Dynamics |
Surge In Personal Disposable Income Levels Preference for Multi-Purpose Cosmetic Products |
Cosmetics Personal Care Ingredients Market Highlights:
Frequently Asked Questions (FAQ) :
The Cosmetics and Personal Care Ingredients market was valued at USD 9.63 Billion in 2023.
The Cosmetics and Personal Care Ingredients market is projected to grow at a CAGR of 5.04%during the forecast period, 2024-2032.
North America had the largest share of the Cosmetics and Personal Care Ingredients market
The key players in the market are DongmingJujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), SABIC, Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Artec Chemical Company Limited, Chemanol and DOGOIDE Group.
The Formaldehyde category dominated the market in 2023.
Skincare had the largest share of the Cosmetics and Personal Care Ingredients market.
