Strong growth in the cosmetics & personal care market is set to fuel demand for personal care and active ingredients. The trend of premiumization of beauty products is driving growth within the overall personal care industry, owing to improving lifestyles in emerging markets.
The outbreak of nCoV-19 has decelerated demand and led to major supply chain disruptions in global personal care products, as a result of nation-wide lockdowns. Personal Care Product Council (PCPC), a global trade association for meeting the ever increasing demand for beauty and personal care products, is now working with U.S. and other leading personal care active ingredients producing countries to ensure the safety of supply chains and also making sure it remains active during the pandemic. Fact.MR’s personal care and active ingredients sales outlook offer category and segment level analysis that provides insights on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
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Key Takeaways of Global Personal Care Active Ingredients Market
- Sales of personal care active ingredients are expected to create a valuable opportunity of around US$ 1.2 Bn during the forecast period, adding 1.7X more value in 2030 as compared to 2020.
- Botanically extracted personal care active ingredient segment will continue to dominate demand for personal care active ingredient market. The segment shall account for more than one-third of the market.
- The global market for personal care active ingredients is set to witness impressive growth in emerging countries such as India, China and Brazil, owing to the increasing per capita spending in personal care and beauty products.
- Europe is estimated to be the most lucrative market in terms of revenue generation, currently valued at US$ 500 Mn and is expected to show prolific expansion over the forecast period.
- Personal care active ingredients used in anti-aging personal care products shall continue dominating the market, accounting for more than half of the overall market share by 2030, with growth rate of 4% over the forecast period.
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“Consumer inclination to buy clean label beauty products is witnessing enormous traction owing to the benefits associated with these cosmetics products”, says the Fact.MR analyst.
Key Players Focusing on Geographical Expansion to Increase their Footprint in the Global Personal Care Active Ingredient Market
The prominent players of personal care active ingredient market are BASF SE, BERKEM, BGG, Clariant AG, Corum, Croda, DSM and Evonik Industries AG. These players are adopting aggressive growth strategies for establishing global foot-print in order to ensure that their production capacity meets increasing demand, along with their heightened presence in regional markets. For instance, Croda International Plc opened two laboratories in Le Perray en Yvelines, France and Singapore. Provital Group launched a digital space “Vital” to improve communication and synergy amongst departments and employees in order to promote innovation.
More Valuable Insights on Personal Care Active Ingredient Market:
The industry analysis provides data & insights on historical volume sales of Personal care active ingredients and forecast statistics for the period of 2020-2030. The study delivers essential insights on the Personal care active ingredient segmentation on the basis of product type (Botanical extracts, enzymes & coenzymes, proteins & peptides, synthetic actives, biotechnology products and marine ingredients) and product category (Anti-aging, anti-acne, anti-inflammatory, skin lightening, slimming, sun care and hair care) across six major regions.
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Global personal care active ingredient Market Segmentation
Fact.MR has studied the global personal care active ingredient market with detailed segmentation on the basis of type, product category, and key regions.
- Botanical Extracts
- Enzymes & Coenzymes
- Proteins & Peptides
- Synthetic Actives
- Biotechnology Products
- Marine Ingredients
- Skin lightening
- Sun Care
- Hair Care
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
For More Insights: https://www.globenewswire.com/en/news-release/2019/09/04/1910822/0/en/Cosmetics-and-Personal-Care-Products-Infused-with-Herbal-Ingredients-Hold-the-Promise-to-Elevate-Medicinal-Herbs-Sales-Says-Fact-MR.html
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