Global Market for Personal Care Ingredients to Reach US$11.76 bn by 2023, Rising Demand for Anti-aging and Personal Care Products drives industry growth

Albany NY , April 29, 2016 (GLOBE NEWSWIRE) -- Personal care ingredients are the raw materials used in the manufacture of different personal care products. These can be classified on the basis of their formulation. Different product segments of personal care ingredients include surfactants, conditioning polymers, emollients, rheology control agents, emulsifiers, antimicrobials, and others (UV absorbers and hair fixative polymers).

Surfactants accounted for over 30% share of the global personal care ingredients market in 2014. Surfactants are used in the manufacture of hair care and skin care products. Conditioning polymers are primarily employed in hair care products. Emollients are widely used in skin care and cosmetics products owing to anti-aging, softening and moisturizing properties, while emulsifiers are used in lotions and creams to mix water with oil. Antimicrobial ingredients ensure that personal care products are free of microorganisms during storage and usage. Hair fixative polymers are used in hair sprays and other hair styling products. UV absorbers are used in personal care ingredients to provide protection against UV rays.

Personal care ingredients are primarily used in the manufacture of skin care, hair care, oral care, cosmetics, fragrances, and toiletries products. Increase in health awareness among consumers is likely to boost the personal care ingredients market in the next few years. Skin care and hair care applications have been driving the demand for personal care ingredients over the past few years and are likely to continue driving the market in the near future. Skin care application holds the major share of the global personal care ingredients market. Cosmetics, fragrances, and toiletries applications are likely to fuel the market for personal care ingredients in the near future.

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Asia Pacific is projected to be the fastest growing market due to rising demand for personal care products in the region. The personal care ingredients market in the region is anticipated to exhibit the fastest growth rate, expanding at a CAGR of over 6% between 2015 and 2023. In terms of demand, Asia Pacific accounted for more than 30% share of the global personal care ingredients market in 2014, primarily due to high consumption in China and India. Other countries in Southeast Asia also constituted significant share of the personal care ingredients market in 2014. Demand for personal care ingredients in North America and Europe is expected to be sluggish during the forecast period owing to stringent rules and regulations for personal care ingredients in these regions. However, the outlook for both these regions appears positive due to high demand for personal care products. Future potential for the personal care ingredients market in Latin America appears positive owing to rising usage of personal care products in Brazil. Demand for personal care ingredients is likely to be lower in Middle East & Africa (MEA), as compared to that in other regions.

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Key companies in the personal care ingredients market include BASF SE, Evonik, Akzo Nobel N.V., Ashland, Dow Corning Corporation, Lonza Group Ltd., Croda International Plc, Wacker Chemie AG, and Clariant. Apart from these global players, various local small-scale companies operate in the personal care ingredients market in their respective regions.

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Personal Care Ingredients Market - Product Segment Analysis

  • Surfactants
  • Conditioning polymers
  • Emollients
  • Rheology control agents
  • Emulsifiers
  • Antimicrobials
  • Others (Including UV absorbers and hair fixative polymers)

Personal Care Ingredients Market - Application Analysis

  • Skin care
  • Hair care
  • Oral care
  • Cosmetics
  • Others (Including fragrances and toiletries)

Personal Care Ingredients Market - Regional Analysis

North America

  • S.
  • Rest of North America

Europe

  • Germany
  • Italy
  • Spain
  • K.
  • France
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • ASEAN
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

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