Increasing Consumer Knowledge Regarding Personal Care Products Drive the Demand for Asia-Pacific Personal Care Ingredients Market

The increasing demand for personal care products to combat stress and anxiety, and the tendency of consumers to increase their engagement in self-care routines as a means to look good and feel better, has been the major driver for the personal care ingredients market. Therefore, the Asia-Pacific personal care ingredients market is estimated to increase rapidly in the near future.

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Data Bridge Market Research analyses that the Asia-Pacific Personal Care Ingredients Market is expected to grow at a CAGR of 6.4% in the forecast period of 2023 to 2030 and is expected to reach USD 6,484,470.77 thousand by 2030. The high adoption of Innovative product branding is projected to propel the growth of the market as they help customers to recognize the products immediately. The major personal care brands in the market are increasing their digital technologies to enable consumers to experience brands in an entirely new way.

Key Findings of the Study

Increasing consumer knowledge regarding personal care products is expected to drive the market's growth rate

Personal care ingredients are the raw materials that are used in the manufacturing of skincare products worldwide. Ingredients used in skincare products are anti-fungal agents, anti-aging agents, skin conditioning agents, 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 as a means of feeling good and looking better, has been the major driver for the personal care ingredients market. The interest in natural and organic ingredients has further increased 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.

Report Scope and Market Segmentation

Segment Analysis:

The Asia-Pacific personal care ingredients market is segmented on the basis of ingredients type.

On the basis of ingredient type, the Asia-Pacific personal care ingredients market is segmented into emollients, surfactants, emulsifiers, rheology modifiers, conditioning polymer, bioactives, vitamins, UV filters, and others. In 2023, the surfactants segment is expected to dominate the Asia-Pacific personal care ingredients market due to the cleansing effect of the ingredients.

In 2023, the surfactant segment of the ingredients type segment is anticipated to dominate the personal care ingredients market

In 2023, the surfactant segment of this market is expected to dominate the Asia-Pacific personal care ingredients market due to the cleansing effect of the ingredients. The surfactant segment is expected to reach the highest CAGR of 6.9% in the forecast period of 2023-2030.

On the basis of ingredient type, the Asia-Pacific personal care ingredients market is segmented into emollients, surfactants, emulsifiers, rheology modifiers, conditioning polymer, bioactives, vitamins, UV filters, and others. In 2023, the surfactants segment is expected to dominate the Asia-Pacific personal care ingredients market with a 23.34% market share. It is expected to reach USD 1,559,645.87 thousand by 2030, growing with a CAGR of 6.9% from 2023 to 2030.

Major Players

Data Bridge Market Research recognizes the following companies as the major personal care ingredients market players in personal care ingredients market are Ashland, BASFSE, BioBotanica, BIOLANDES, Clariant, CODIF, Croda International Plc, DSM, EVONIK, Laboratoires Expanscienc, Gattefossé, Givaudan, GREENTECH, Hallstar, Lipoid Kosmetik, The Lubrizol Corporation, Naolys, mibelle GROUP biochemistry, LUCASMEYER COSMETICS, NutriWoods, Provital, RAHNAG., Sabinsa., SEPPIC, SEQENS, Silab, Solabia Group, Symrise, and Vytrus Biotech among others.

Market Development

• In November 2022, Ashland introduced Sclareance biofunctional natural sclareolide through biotechnology which helps in reducing and limiting the appearance of dandruff. It helps the company to expand its portfolio, which helps in increasing the revenue of the company.
• In November 2022, Ashland was recognized with the commitment to life award in the Human Rights Category by Natural&Co. It helps the company in recognization and helps in developing and enhancing relationships with strategic suppliers.
• In October 2022, Givaudan launched the Siliphos, which is considered the best alternative to retinoids. It is suitable for delicate skin. Siliphos is extracted by green fractionation from milk thistle fruits and powered by Phytosome technology. It helps the company to strengthen its well-aging portfolio.
• In October 2022r, BIOLANDES launched "Cypress," which is a raw material used for perfumery and a symbol in antiquity. It has helped the company to expand and grow its business.
• In September 2022, Givaudan launched New Purple 2364, which is a vegan pigment used in make-up formulations. It is extracted by green fractionation from Raphanus Sativus L. It is ID Pack-certifies a guarantee of transparent sourcing and product quality. It has helped the company to strengthen and expand its product portfolio.
• In June 2022, Croda International Plc. won a sustainability award at Syngenta Supplier Awards for the "reduction in carbon" category which was held in Frankfurt, Germany. Croda has worked In partnership with Syngenta to deliver innovative and sustainable ingredients in a way to meet Syngenta's commercial and sustainability goals. This award helped the company to get recognized and to meet its sustainability goals.

Regional Analysis

Geographically, the countries covered in the personal care ingredients market report are Japan, South Korea, India, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, Hong Kong, and the Rest of Asia-Pacific.

As per Data Bridge Market Research analysis:

Japan is the dominant country in the personal care ingredients market during the forecast period 2023 - 2030

In 2023, Japan is expected to dominate the Asia-Pacific personal care ingredients market due to consumers' increasing adoption of personal care products in the beauty sector by various developing countries in the Asia-Pacific region. Japan will continue to dominate the personal care ingredients market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing adoption of advanced technology and the launch of new products in this region. Japan is expected to dominate the Asia-Pacific personal care ingredients market due to the changing lifestyle and increase in the urban population.

Japan is estimated to be the fastest-growing country in the Asia-Pacific personal care ingredients market for the forecast period 2023 - 2030

Japan is expected to grow during the forecast period due to the presence of major market players and the rapid development of beauty industry in emerging economies in this region. In addition to this, the rising level of innovative branding of the companies is expected to propel the market's growth rate in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 largely impacted the beauty industry. The personal care ingredients market was, however, adversely affected by it. Demand for color cosmetics is anticipated to decline, while that for skin care is anticipated to increase as a result of the COVID-19 outbreak. Additionally, there is new potential for personal care companies to provide related advantages that are supplementary. There is a need for more "me-time" and self-care as a result of social alienation and separation. There will be a huge surge in demand for cosmeceutical products with bioactive chemicals, which are meant to have medical benefits. However, the imposition of the lockdown and social distancing restrictions by the government to curb the COVID-19 pandemic outbreak.

On the brighter side, there has been a decline in COVID-19 patients worldwide, which will result in increased personal care services. Moreover, the restrictions and measures are likely to relax, which will help the market to witness a slight increment as the manufacturers are focusing on various developments and innovations, market trends, and other expansion strategies. Thus, the personal care ingredients market will grow at an accelerated pace post-COVID-19.

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