Cosmetics & personal care ingredients are blended and formulated to enhance the properties of various cosmetic products. Owing to the rising sales of beauty enhancing products, worldwide, the global cosmetics and personal care ingredients market has become a vibrantly growing space. According to Market Research Future (MRFR), the valuation of global cosmetics and personal care ingredients market is estimated to reach USD 14,170.26 MN by 2025. In its recent industry analysis, MRFR asserts that the market would register over 5.78% CAGR throughout the review period (2017 – 2025).
Increasing consumers’ reliance on cosmetics for building up self-esteem & enhancing their social lives drives the market growth predominantly. For their health & personal hygiene, people are increasingly relying on personal care products. Rising consumption of cosmetics & personal care products among the working population is a significant growth driver for the market. Skincare, multipurpose, and skin lightening products witness augmenting sales throughout the year, which drives huge market demand. Furthermore, the hectic and heady lifestyle of people that leads them to simplify their daily beauty routines with using cosmetics increases the market size of cosmetics & personal care ingredients. The popularity of multipurpose products is on a constant rise as they provide several benefits at once, such as anti-aging, moisturizing, cleansing, UV protection, and antioxidant. With this trend, the consumption of multipurpose products is rising and expected to increase the consumption of cosmetics & personal care ingredients.
On the other hand, reported cases of allergies and adverse effects related to the use of some ingredients might act as a major headwind for the growth of the market.
Akzo Nobel NV
Croda International Plc
Eastman Chemical Company
Cosmetics & Personal Care Ingredients Market - Segments
MRFR has segmented the report into four market dynamics to widen the scope of understanding,
By Type : Glycerols, Formaldehyde, Titanium Dioxide, Alcohols, Isopropyls, Dimethicone, Parabens, Sodium Lauryl Sulphate, Tocopherols, Oleochemical, Benzones, Surfactants, Botanical Extracts, Polymer, and others.
By Application : Emulsifiers & Stabilizer, Preservatives, Thickeners, Moisturizers, Emollient, and others.
By End-use : Skincare, Haircare, Fragrance, Bath & Shower, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World
Cosmetics & Personal Care Ingredients Market - Competitive Analysis
Highly competitive, the cosmetics & personal care ingredients market appears fragmented with the many notable players. Encouraged by the continually changing consumers’ preferences & demands, manufacturers operating in the market come up with variations such as with a different type of preservative, with longer-lasting effects, etc. Thus, the industry is ready to invest time & money in R&D required for further formulation work. They also try to expand their business by entering emerging markets like Latin America, Africa, and APAC.
December 17, 2019 ---- Milk Makeup (the US), the makeup & skincare division of Milk Group, announced its strategic partnership with Amorepacific Group (South Korea), a global beauty conglomerate. Amorepacific has partnered with two private equity investment firms Main Post Partners and Alliance Consumer Growth, forming a strategic partnership to help forge a path for Milk Makeup as they enter the South Korean marketplace.
This strategic partnership would benefit Milk Makeup with Amorepacific’s significant expertise and resources to succeed in a highly competitive & incredibly innovative South Korean beauty market. And Milk Makeup will share the strategies that have made it one of the fastest-growing color brands in the US.
Milk Makeup is recognized for its innovative formulas and clean ingredients. Amorepacific has its research hubs located around the world, which are dedicated to sustainable R&D, combining the best of natural Asian ingredients & advanced biotechnology.
Cosmetics & Personal Care Ingredients Market - Regional Analysis
North America and Europe are thriving markets for Cosmetics & Personal Care Ingredients. The US is the largest exporter of cosmetics among other countries such as India, China, Japan, Mexico, and Brazil. The country’s cosmetic industry is making significant investments in R&D to develop innovative beauty care products, which is projected to accelerate the growth of the regional market. Cosmetics & personal care ingredients markets in North American & Europe are expected to grow at a phenomenal CAGR during the assessment period (2017 - 2025).
The Asia Pacific region holds a unique position in the global cosmetics and personal care ingredients market. People in this region are reliant primarily on personal care products for health & personal hygiene. They consider cosmetics as an important element for building up self-esteem & enhancing their social lives. The APAC cosmetics and personal care ingredients market is likely to grow further, breaking its previous growth records by 2025.
The market report for the cosmetics and personal care ingredients market includes the Middle East & Africa region is a briskly growing market. Especially the Middle East is a massive market for cosmetics products. Every year, there is a substantial rise in the sales of beauty care products in the Middle Eastern markets. Resultantly, the MEA cosmetics and personal care ingredients market is estimated to grow at a healthy CAGR during the review period.
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