Personal Care Chemicals Market Forecasts to 2030 - Global Analysis By Source (Synthetics and Organic), Ingredients (Inactive Ingredients and Active Ingredients), Application (Fragrances, Hair Care, Makeup, Oral Care, Skin Care, Toiletries and Other Applications) and By Geography
According to Stratistics MRC, the Global Personal Care Chemicals Market is accounted for $14.43 billion in 2023 and is expected to reach $21.56 billion by 2030 growing at a CAGR of 5.9% during the forecast period. Chemicals used in personal care are the basic ingredients for skincare products all over the world. These substances have properties that can be used in skincare products, such as antifungal, anti-aging, skin conditioning, and others. Chemicals used in personal care products range from simple metallic salts and fatty acids found in common bath soaps to high-end cosmeceuticals that combine the beneficial qualities of pharmaceuticals and chemicals with the cosmetic-enhancing properties of cosmetics.
According to a study by Assocham, one of India's most important trade groups, the beauty, cosmetics, and grooming market in the country will be worth USD 20 billion by 2025. According to CIRS GROUP, a product safety and regulatory firm, the total retail sales of cosmetics in China in the first half of 2021 reached Yuan 191.7 billion (USD 28.25 billion), with a year-on-year increase of 26.6%.
Rising e-commerce sales for personal care products
One of the main factors boosting the growth of the personal care chemicals market is the increase in e-commerce sales of personal care products. Because there are fewer overhead expenses when products are sold through online platforms rather than physical stores, the prices offered to customers are frequently lower on e-commerce platforms. Additionally, a large number of national and international vendors are promoting and strengthening their brands by selling personal care products on e-retail websites. These elements are fueling the expansion of the market for personal care chemicals.
Stringent government regulations
Despite the predicted trajectory, strict government regulations impede market growth. Certain government restrictions on the sale of some chemicals may exist. A clear definitional standard will eventually need to be imposed by either the FDA or the industry due to significant regulatory implications. In 2004 and 2009, the EU outlawed the use of animals in the production of cosmetics and their ingredients. Microplastics have been outlawed in cosmetics and personal care products in a number of European nations, including the UK, France, Finland, Norway, Sweden, Denmark, and Luxembourg.
Increase in the demand for male personal care products
Personal care products are among the well-liked goods in the lucrative market for male grooming products. Men are using more and more male grooming products as part of their daily grooming routine, which has increased their popularity. Innovative personal care products geared toward male consumers are the main focus of brands. Gender-specific products have been encouraged to be introduced by personal care product manufacturers as a way to differentiate their brands from competitors and to meet the growing and swift changes in consumer demand. During the forecast period, these initiatives will fuel the growth of the personal care chemicals market.
A growing need for more eco-friendly and sustainable alternatives is being driven by growing awareness of the effects certain chemicals used in personal care products have on the environment. The use of conventional personal care chemicals may decrease during the forecast period as a result of this shift toward natural and eco-friendly ingredients. Additionally, consumers' price sensitivity and the highly competitive nature of the personal care sector may put pressure on costs and prices.
The COVID-19 outbreak led to global lockdowns halts in production, labor shortages, and disruptions in supply chains, all of which had a negative effect on the market for dyes and pigments. The market's growth trajectory was likely restored in 2021 as circumstances started to improve, which prompted vendors to reopen their factories and warehouses. During the forecast period, these factors will fuel the growth of the local personal care chemicals market.
The skin care segment is expected to be the largest during the forecast period
Global market share is expected to be dominated by the skin care segment during the forecast period. The key factors driving the global market for skin care products are the desire for a more comfortable lifestyle, the rise in the number of young people, and the increasing purchasing power of urban households. People are starting to use skin care earlier in life in order to prevent the aging process as a result of increased self-awareness. These and other favorable factors are likely to fuel the personal care chemical market and, consequently, the market for skin care products over the ensuing few years.
The organic segment is expected to have the highest CAGR during the forecast period
Over the upcoming years, it is anticipated that the market for organic personal care chemicals will expand significantly. These products frequently have plant-based components like roots, essential oils, herbs, and flowers. A few organic components, including minerals and beeswax, come from animals as well. Several naturally occurring carrier agents, preservatives, humectants, emulsifiers, and surfactants are added to them after extraction. Moreover, organic products are not made with chemicals, in contrast to synthetically made chemicals.
Region with largest share:
The Asia-Pacific region is anticipated to witness the largest market share in the estimated timeframe. With growing shelf space in retail stores and boutiques in India, the personal care chemicals market in China and India is estimated to expand steadily. The demand for personal care chemicals is expected to rise as the economy in India improves and the population's purchasing power increases. In addition, the market is anticipated to benefit from the growing adoption of men's grooming products in the region.
Region with highest CAGR:
Over the forecast period, Europe is expected to experience lucrative growth. Due to rising interest in personal care and wellness among consumers, strengthening distribution channels, and increased demand among both the male and female populations for skin that looks younger. Moreover, with rising demand for anti-aging and men's grooming products, Germany is the European nation that generates the most revenue. Additionally, the varying climatic conditions, changing lifestyles, and rising demand for skincare products, along with consumers' growing desire for environmentally and animal-friendly products, will all contribute to the personal care market's expansion during the forecast period.
Key players in the market
Some of the key players profiled in the Personal Care Chemicals Market include Ashland Global Holdings Inc., BASF SE, Berkshire Hathaway Inc., Clariant International Ltd., Corbion NV, Croda International Plc, Evonik Industries AG, Galaxy Surfactants Ltd., Huntsman International LLC, Innospec Inc., Kao Corporation, Lonza Group Ltd., Merck KGaA, Momentive, Nouryon Chemicals Holding BV, RAG-Stiftung, Sasol Ltd., Solvay, Stepan Co., The Dow Chemical Co., The Lubrizol Corporation and Wacker Chemie AG.
In March 2023, BASF Personal Care introduced KerasyliumTM, a new hair care component that assists in repairing damaged hair and shielding it from daily aggressions at in-cosmetics Global in Barcelona. Kerasylium is a microcomplex consisting of peptides and nutrients.
In March 2023, Reliance Consumer goods Limited (RCPL), the FMCG arm of Reliance Retail, announced introducing a home and personal care goods range on Wednesday, expanding its FMCG portfolio.
In April 2022, Dow introduced six new products for the beauty and personal care market at in-cosmetics Global in Paris. This collection was introduced to inspire brands and help them serve consumers in line with industry trends.
• Inactive Ingredients
• Active Ingredients
• Hair Care
• Oral Care
• Skin Care
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026 and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
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• Competitive Benchmarking
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Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Personal Care Chemicals Market, By Source
6 Global Personal Care Chemicals Market, By Ingredients
6.2 Inactive Ingredients
6.2.1 Colorants and Preservatives
6.2.4 Rheology Control Agents
6.2.6 Other Inactive Ingredients
6.3 Active Ingredients
6.3.2 Conditioning Agents
6.3.4 Ultraviolet (UV) Ingredients
6.3.5 Other Active Ingredients
7 Global Personal Care Chemicals Market, By Application
7.3 Hair Care
7.5 Oral Care
7.6 Skin Care
7.8 Other Applications
8 Global Personal Care Chemicals Market, By Geography
8.2 North America
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.5 Other Key Strategies
10 Company Profiling
10.1 Ashland Global Holdings Inc.
10.2 BASF SE
10.3 Berkshire Hathaway Inc.
10.4 Clariant International Ltd.
10.5 Corbion NV
10.6 Croda International Plc
10.7 Evonik Industries AG
10.8 Galaxy Surfactants Ltd.
10.9 Huntsman International LLC
10.10 Innospec Inc.
10.11 Kao Corporation
10.12 Lonza Group Ltd.
10.13 Merck KGaA
10.15 Nouryon Chemicals Holding BV
10.17 Sasol Ltd.
10.19 Stepan Co.
10.20 The Dow Chemical Co.
10.21 The Lubrizol Corporation
10.22 Wacker Chemie AG
List of Tables
1 Global Personal Care Chemicals Market Outlook, By Region (2021-2030) ($MN)
2 Global Personal Care Chemicals Market Outlook, By Source (2021-2030) ($MN)
3 Global Personal Care Chemicals Market Outlook, By Synthetics (2021-2030) ($MN)
4 Global Personal Care Chemicals Market Outlook, By Organic (2021-2030) ($MN)
5 Global Personal Care Chemicals Market Outlook, By Ingredients (2021-2030) ($MN)
6 Global Personal Care Chemicals Market Outlook, By Inactive Ingredients (2021-2030) ($MN)
7 Global Personal Care Chemicals Market Outlook, By Colorants and Preservatives (2021-2030) ($MN)
8 Global Personal Care Chemicals Market Outlook, By Emollients (2021-2030) ($MN)
9 Global Personal Care Chemicals Market Outlook, By Emulsifiers (2021-2030) ($MN)
10 Global Personal Care Chemicals Market Outlook, By Rheology Control Agents (2021-2030) ($MN)
11 Global Personal Care Chemicals Market Outlook, By Surfactants (2021-2030) ($MN)
12 Global Personal Care Chemicals Market Outlook, By Other Inactive Ingredients (2021-2030) ($MN)
13 Global Personal Care Chemicals Market Outlook, By Active Ingredients (2021-2030) ($MN)
14 Global Personal Care Chemicals Market Outlook, By Anti-ageing (2021-2030) ($MN)
15 Global Personal Care Chemicals Market Outlook, By Conditioning Agents (2021-2030) ($MN)
16 Global Personal Care Chemicals Market Outlook, By Exfoliants (2021-2030) ($MN)
17 Global Personal Care Chemicals Market Outlook, By Ultraviolet (UV) Ingredients (2021-2030) ($MN)
18 Global Personal Care Chemicals Market Outlook, By Other Active Ingredients (2021-2030) ($MN)
19 Global Personal Care Chemicals Market Outlook, By Application (2021-2030) ($MN)
20 Global Personal Care Chemicals Market Outlook, By Fragrances (2021-2030) ($MN)
21 Global Personal Care Chemicals Market Outlook, By Hair Care (2021-2030) ($MN)
22 Global Personal Care Chemicals Market Outlook, By Makeup (2021-2030) ($MN)
23 Global Personal Care Chemicals Market Outlook, By Oral Care (2021-2030) ($MN)
24 Global Personal Care Chemicals Market Outlook, By Skin Care (2021-2030) ($MN)
25 Global Personal Care Chemicals Market Outlook, By Toiletries (2021-2030) ($MN)
26 Global Personal Care Chemicals Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa Regions are also represented in the same manner as above.
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