The global personal care ingredients market is estimated to grow at a CAGR during the forecast period. Personal care ingredients are an important element that enables to improve the quality of personal care products. Some ingredients that are used in skin care products include retinol, kojic acid, alpha-hydroxy acids, hydroquinone, beta-hydroxy acids, and copper peptide. Lotions and creams with alpha-hydroxy acids may help with fine lines, age spots, and irregular pigmentation, and may support shrink enlarged pores. In addition, beta-hydroxy acids enable to remove dead skin and can improve the color and texture of sun-damaged skin. Hence, ingredients play a significant role in personal care products.
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Moreover, several factors that are boosting the growth of the market include significant growth in the personal care industry, rising demand for naturally derived ingredients in personal care products and rising partnerships for personal care products. For instance, in January 2019, BASF SE and B2B Cosmetics declared a long-term strategic collaboration in the area of personalized personal care products, such as a strategic investment into B2B Cosmetics by BASF. BASF SE is partnering with B2B Cosmetics to further accelerate its unique technology in the near future. The company expects that the collaboration will enable them to support the industry with a new approach for individualized personal care products. B2B Cosmetics will benefit from the expertise of BASF and their latest advances in personal care ingredients and will enable to establish the device and the technology.
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The major players operating in the market include BASF SE, the Dow Chemical Co., Evonik Industries AG, Solvay S.A., and Koninklijke DSM N.V. The strategies adopted by the market players to expand market share and gain competitive advantage include mergers and acquisitions, product launches, partnerships and collaborations. For instance, in October 2018, Solvay S.A. signed a partnership agreement with Deinove SA, a French biotech producer for commercialization of ReGeN-oPhyt, a novel, the natural active ingredient for skin-care products in Asia and North America. ReGeN-oPhyt is derived from phytoene, a colorless carotenoid used as a pioneering skin-care active to offer anti-aging/antioxidant properties.
Global Personal Care Ingredients Market- Segmentation
By Ingredients
- Rheology Control Agents
- Surfactants
- Emollients
- Conditioning Polymers
- Emulsifiers
- Others (UV Filters and Pearlizers and Opacifiers)
By Application
- Hair Care
- Oral Care
- Skin Care
- Fragrances
- Others (Nail Care and Toiletries)
Global Personal Care Ingredients Market- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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