The global personal care chemical market is expected to reach USD 16,092.64 million by 2026, growing at a CAGR of 4.14%.
Increasing disposable income is strengthening consumers' purchasing power and the change in the standard of living, which is expected to drive the personal care chemicals market growth in 2021-2026.
Innovations in self-care products and a rise in health awareness are accelerating the demand for personal care products, thereby creating growth opportunities for the vendors in the global personal care ingredients market. Surging pollution levels in developing countries like China and India, resulting in consumers buying more protective personal care products.
Developing nations such as China and India have witnessed an enormous demand for self-care products. The personal care market growth can be amplified by the growing younger population in emerging economies. The beauty and personal care surfactants market is set to have significant growth in the upcoming years.
INSIGHTS BY INGREDIENTS
Rheology modifiers are vital additives used in chemical manufacturing to achieve the desired rheological characteristics for skincare or hair care applications. Rheology Modifier will have significant growth throughout the forecasted period. Organic modifiers are widely used today, and there are two main categories of organic rheology modifiers determined by the thickening mechanism.
INSIGHTS BY SOURCES
The global organic personal care chemical market is expected to witness significant growth over the coming years. Did you know L'Oreal launched 'La Provencale Bio', a completely new organic skin and body care brand, and bought 'Logocos Naturkosmetik', a Germany-based manufacturer of vegan beauty products?
Consumers across the globe have become increasingly aware of the harmful effects of synthetic products. Growing consumption of environmentally sustainable products and changing customer insights toward naturally made products has considerably contributed to the industry's growth.
INSIGHTS BY END-USE APPLICATION
Skincare products will grow significantly with the growth in the organic sourced industry. The skin care segment will grow with innovation and technological advancement. Innovative and eco-friendly product packaging, which is recyclable or refillable, is in high demand in the global Cosmetic Chemicals industry. Manufacturers are spending money and resources on research and development for organic products, resulting in the growth of green chemistry and the green sector.
The vendors in the personal care chemicals industry compete strategically among each other. Some of the major challenges faced by industry players include the rapid rise of local companies and the increasing number of disruptors with alternative business models. Bigger brands are benefited from consumers' preference for an innovation-driven pipeline, and brands are sustaining.
This is helping the brands to make relevant products for global consumers, exporting longer self-care routines, and driving more frequent product usage. Regional players are gaining presence in international markets by purchasing new assets with exposure to develop markets. Personal care brands increasingly focus on stronger digital engagement to reinforce transparency and provide consumers with access to additional chemicals and processing information.
INSIGHTS BY GEOGRAPHY
The Personal Care Chemicals market in APAC is expected to reach USD 5,618.32 million by 2026.
The growing concern about health and personal wellness in APAC enhances the demand for natural or organic personal care products. China is the highest revenue-generating country in Asia Pacific due to the growing demand for premium cosmetics and the increasing working women population.
Manufacturers of self-care products are launching products targeted at specific and niche consumer groups across the region. Some of the major players in the personal care products market in Asia-Pacific are Beiersdorf AG, L'Oreal group, Procter and Gamble, and The Estee Lauder Companies Inc.
The men's grooming product market is witnessing an increasing demand for natural, clean-label, and organic products due to the rise in consumer awareness.
Based on end-user application type, skincare is the largest segment and is expected to contribute 35.23% to the end-user application market in 2020 and is projected to contribute 35.79% by 2026.
There is an increase in demand for customized and personalized personal care products that suit different consumer preferences, accelerating the growth of the personal care chemical market.
The personal care product market in North America registered a CAGR of 3.93% and Incremental growth of 26.05% during the forecasted period of 2021-2026.
The Latin American personal care industry growth is evident in Brazil, Mexico, Chile, Argentina, and Peru. Innovation in the products is the main reason for an increase in sales across the region.
Other Prominent Vendors
Wacker Chemie AG
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage 4.1 Market Definition 4.2 Base Year 4.3 Scope of the Study