Personal care ingredients can be classified as active and inactive ingredients. Active ingredients include anti-aging agents, exfoliates, conditioning agents, and UV-protecting agents, whereas inactive ingredients include surfactants, preservatives, colorants, and polymer ingredients. The driving factors growth of the market includes growing awareness among consumers regarding personal care ingredients.
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The Global Personal Care Ingredients Market is expected to reach USD 21,828,314.39 million by 2030 from USD 14,141,948.5 million in 2023, growing with a substantial CAGR of 6.4% in the forecast period of 2023 to 2030. The increasing demand for self-care products to combat stress & 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. Shifting preference toward sustainable products is expected to provide opportunities in the global personal care ingredients market.
Shifting preference towards sustainable products across the world will drive the market's growth rate
Consumers expressing a willingness to pay a premium for eco-friendly goods, beauty brands increasingly take sustainability seriously. Emerging economies of the world have witnessed increasing demand for sustainable beauty brands. This can be attributed to social norms and responsibility towards environmental preservation, owing to which the brands embrace planet-friendly positive strategies. Thus, an increasing trend towards the development of sustainable products can be seen due to the growing demand from the consumer side. This has opened up many opportunities for manufacturers to capitalize in the market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Marine Extracts, Mineral Extracts, Peptides, Botanical Extracts, Biotechnology Products, and Synthetics Actives), Application (Skincare, Haircare, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Ashland (U.S.), BASF SE (Germany), Bio-Botanica (U.S.), BIOLANDES (France), Clariant (Switzerland), CODIF Technologie Naturelle (France), Croda International Plc (U.K.), DSM (Netherlands), Evonik Industries AG (Germany), Laboratoires Expanscience (France), Gattefossé (France), Givaudan (Switzerland), GREENTECH (U.S.), Hallstar Incorporated (U.S.), Lipoid-Kosmetik (Switzerland), The Lubrizol Corporation (U.S.), Naolys (France), Mibelle GROUP Biochemistry (France), LUCASMEYER COSMETICS (Canada), and Vytrus Biotech (Spain) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
The global personal care ingredients market is segmented into two notable segments based on type and application.
- Based on type, the global personal care ingredients market is segmented into mineral extracts, marine extracts, botanical extracts, biotechnology, peptides, and synthetic actives. In 2023, the marine extracts segment is expected to dominate the global personal care ingredients market with a 27.94% market share due to the growing awareness among consumers regarding personalized care ingredients. All these segments have two sub segments, namely substantiated extracts and unsubstantiated extracts.
The marine extracts segment will dominate the type segment of the personal care ingredients market
The marine extracts segment will emerge as the dominating segment under type with approximately 28.00% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the chemicals and materials industry all around the globe will further bolster the growth of this segment.
- On the basis of application, the global personal care ingredients market is segmented into skincare, haircare, and others. In 2023, the skincare segment is expected to dominate the global personal care ingredients market with a 42.24% market share due to the increasing demand for self-care products to combat stress & anxiety and the tendency of consumers to increase their engagement in self-care routines to feel good and look better.
The skincare segment will dominate the application segment of the personal care ingredients market
The skincare segment will emerge as the dominating segment application segment. This is because of the growing availability of skincare products in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in market: Ashland (U.S.), BASF SE (Germany), Bio-Botanica (U.S.), BIOLANDES (France), Clariant (Switzerland), CODIF Technologie Naturelle (France), Croda International Plc (U.K.), DSM (Netherlands), Evonik Industries AG (Germany), Laboratoires Expanscience (France), Gattefossé (France), Givaudan (Switzerland), GREENTECH (U.S.), Hallstar Incorporated (U.S.), Lipoid-Kosmetik (Switzerland), The Lubrizol Corporation (U.S.), Naolys (France), Mibelle GROUP Biochemistry (France), LUCASMEYER COSMETICS (Canada), and Vytrus Biotech (Spain).
Market Development
- In November 2022, Ashland introduced clearance biofunctional natural sclareolide through biotechnology, which helps reduce and limit dandruff's appearance. It helps the company to expand its portfolio, which helps in increasing the revenue of the company
- In October 2022, Givaudan launched the Siliphos, 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 June 2020, Neutrogena launched its 3D- printed personalized mask, MaskiD, which is customized with the data obtained through the brand's Skin360 system. The app analyses the skin and makes ingredient recommendations for each face area. With the use of a proprietary 3D printing process, the ingredients are then 'printe" onto a custom–fit hydrogel facial mask
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Europe is the dominant region in personal care ingredients market during the forecast period 2023 to 2030
During the forecast period, Europe is anticipated to hold the largest share. Due to its expanding population, high standard of living, and rising urbanization, Europe has a significant demand for components used in personal hygiene products. Growing consumer demand for fragrances, beauty products, soaps and detergents has accelerated European market expansion.
Asia-Pacific is estimated to be the fastest-growing region in personal care ingredients market the forecast period 2023 to 2030
The region of Asia-Pacific is anticipated to experience the fastest growth over the projection period. Market expansion is aided by rising hygiene awareness, expanding wellness and beauty trends, and rising demand for upscale goods. A few variables that are anticipated to provide growth prospects include the shift in consumer preferences and use of organic and natural products, expanding research and development efforts, the presence of foreign businesses in this region, and technical improvements.
COVID-19 Impact
In addition to significantly impacting the coronavirus pandemic, the current COVID-19 epidemic has had far-reaching effects beyond the disease's propagation and containment attempts. Concerns have changed from supply-side manufacturing problems to diminished business as the virus has expanded across the globe. In addition to having an impact on beauty industries, the current epidemic breakout has had a significant impact on consumers' daily lives. The cosmetics business is in a worse situation because locating markets for exporting items is challenging. Additionally, because not enough raw materials are imported, making some things as needed is challenging.
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