Personal Care Ingredients (PCI) Market size to be Worth around USD 14.9 Billion by End of 2026 - Market Research Store

NEW YORK, Oct. 20, 2021 /PRNewswire/ -- Findings from Market Research Store report "Personal Care Ingredients Market – By Chemical Function and Properties (Chelating Agents, Cream Bases, Active Ingredients, Protein Products, Lipid Layer Enhancers, Humectants, Shine Concentrates, Thickeners, Waxes, Opacifiers, and Others), By Application (Skin Care, Oral Care, and Hair Care), and By Product (UV Absorbers, Antimicrobials, Emollients, Conditioning Polymers, Hair Fixative Polymers, Emulsifiers, Surfactants, Rheology Control Agents): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" states that the global demand for personal care ingredients market in 2019 was approximately USD 11 Billion. The market is expected to grow at a CAGR of 4.6% and is anticipated to reach around USD 14.9 Billion by 2026.

Personal care ingredients are used in the manufacturing of personal care products. These ingredients are broadly classified as active personal care ingredients and passive personal care ingredients. Some of the active ingredients include exfoliants, UV protecting agents, and conditioning agents whereas the passive ingredients include colorants, surfactants, polymer ingredients, and preservatives.

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Increasing purchasing power of customers coupled with changing lifestyles of people globally is anticipated to drive the market in the upcoming years. Awareness regarding hygiene, changing lifestyle, and increasing spending power of consumer are key factors propelling the use of personal care products globally. There is an increasing demand for personal care products from emerging economies such as China and India as the development of these countries has resulted in a change in the lifestyle of consumers along with increasing disposable income coupled with growing purchasing power.  Personal care products are also channeled through e-commerce platforms and hence the manufactures of personal care products can tap a larger geographical area to sell their products. This has led to increased sales of personal care products through e-commerce channels in the past few years since the globalization of the e-commerce industry. The increasing demand for personal care products has created a significant demand for personal care ingredients. In 2020, e-commerce sales are estimated to have risen by 7-8% whereas the growth of China and U.S. e-commerce sales was estimated to be around 20%.

Based on product segmentation, the emollients category dominated the segment in 2019 due to the use of emollients in daily personal care products such as shampoos, deodorants, body lotions, cleansers, etc. Emollients are incorporated in personal care products as they offer soothing properties to the skin and help to retain the skin moisture. Based on application segmentation, the skincare category had a major share in the segment in 2019 owing to the increasing use of skincare products such as body lotions, sunscreens, facial creams, and others globally.

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Europe region dominated the global personal care ingredients market in 2019 and is anticipated to continue its dominance in the upcoming years. The dominance of Europe can be attributed to the growing demand for luxury personal care products such as hair care, make-up, skincare, oral care, and others in the European market. Strong spending power and high-quality living standards of consumers in Europe are creating a significant demand for natural and organic cosmetic products. The Asia Pacific region is anticipated to grow at a significant rate in the forecast period due to the increasing demand for personal care products from developing countries such as China and India.

Some of the key players in the personal care ingredients market are Croda International Plc, Dow Corning, Solvay S.A, BASF SE, Evonik Industries, Wacker Chemie AG, Momentive Performance Materials Inc., Clariant, Ashland Inc, and J.M. Huber Corporation among others. Joint ventures and collaboration between manufacturers and distributors help to streamline the supply chain of the industry. Various manufacturers in the personal care ingredients market are focusing on creating collaborations with distributors to expand their geographical reach. For instance, in June 2020, BASF SE and BTC Europe formed a partnership in which BTC Europe would be the distribution partner for the care creation portfolio of BASF.

This report segments the personal care ingredients market as follows:

Global Personal Care Ingredients Market: By Chemical Function and Properties Segmentation Analysis

• Chelating Agents
• Cream Bases
• Active Ingredients
• Protein Products
• Lipid Layer Enhancers
• Humectants
• Shine Concentrates
• Thickeners
• Waxes
• Opacifiers
• Others

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Global Personal Care Ingredients Market: By Application Segmentation Analysis

• Skin Care
• Oral Care
• Hair Care

Global Personal Care Ingredients Market: By Product Segmentation Analysis

• UV Absorbers
• Antimicrobials
• Emollients
• Conditioning Polymers
• Hair Fixative Polymers
• Emulsifiers
• Surfactants
• Rheology Control Agents

Global Personal Care Ingredients Market: Regional Segmentation Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• The UK
• France
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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