The global personal care ingredients market is estimated to grow at a CAGR during the forecast period. Personal care ingredients are an important element that enables to improve the quality of personal care products. Some ingredients that are used in skin care products include retinol, kojic acid, alpha-hydroxy acids, hydroquinone, beta-hydroxy acids, and copper peptide. Lotions and creams with alpha-hydroxy acids may help with fine lines, age spots, and irregular pigmentation, and may support shrink enlarged pores. In addition, beta-hydroxy acids enable to remove dead skin and can improve the color and texture of sun-damaged skin. Hence, ingredients play a significant role in personal care products.
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Moreover, several factors that are boosting the growth of the market include significant growth in the personal care industry, rising demand for naturally derived ingredients in personal care products and rising partnerships for personal care products. For instance, in January 2019, BASF SE and B2B Cosmetics declared a long-term strategic collaboration in the area of personalized personal care products, such as a strategic investment into B2B Cosmetics by BASF. BASF SE is partnering with B2B Cosmetics to further accelerate its unique technology in the near future. The company expects that the collaboration will enable them to support the industry with a new approach for individualized personal care products. B2B Cosmetics will benefit from the expertise of BASF and their latest advances in personal care ingredients and will enable to establish the device and the technology.
The global personal care ingredients market is segmented on the basis of ingredients and application. Based on ingredients, the market is segmented into rheology control agents, surfactants, emollients, conditioning polymers, emulsifiers, and others. Emollients are anticipated to hold the largest share in the market in 2018. Natural-based emollients are essential ingredients used in the formulations of personal care products to impart a soft, smooth, and moisturized feel to skin and hair. Emollients fill the gap between peeling or rough skin cells and make the skin surface smoother. Therefore, it is being significant used in creams, moisturizers and lotions. Petrolatum, mineral oil, and lanolin are occlusive agents and serve as emollients. Based on application, the market is further classified into hair care, oral care, skin care, fragrances, and others (nail care and toiletries).
The major players operating in the market include BASF SE, the Dow Chemical Co., Evonik Industries AG, Solvay S.A., and Koninklijke DSM N.V. The strategies adopted by the market players to expand market share and gain competitive advantage include mergers and acquisitions, product launches, partnerships and collaborations. For instance, in October 2018, Solvay S.A. signed a partnership agreement with Deinove SA, a French biotech producer for commercialization of ReGeN-oPhyt, a novel, the natural active ingredient for skin-care products in Asia and North America. ReGeN-oPhyt is derived from phytoene, a colorless carotenoid used as a pioneering skin-care active to offer anti-aging/antioxidant properties. The product was developed with the use of advanced biotechnology platform based on the natural sugar fermentation by extremophilic Deinococcus bacterium. This partnership will enable Solvay to attract a significant customer base in North America and Asia. Moreover, in April 2019, Lonza Group Ltd. launched the newest in its portfolio of bioactive, H2OBioEV Bioactive. It is a multifunctional cosmetic ingredient that revitalizes, rejuvenates and moisturizes skin. This is ideal for use in lip balm, face masks, hand care, facial and body moisturizers. In addition, it contains a unique combination of naturally sourced ingredients, such as Galactoarabinan polysaccharides and Aphanothece Sacrum. The company is looking to commercialize its product in Asia and across the globe, which, in turn, will enable to increase its market share globally.
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A full Report of Global Personal Care Ingredients Market is Available at: https://www.omrglobal.com/industry-reports/personal-care-ingredients-market
Current Market Trends Covered in the market report:
- Asia-Pacific to Emerge as a Fastest-Growing Personal Care Ingredients Market
- Significant growth in personal care industry
- Product launches, partnerships and collaborations among key market players; escalating the market growth
- Shift from synthetic to naturally-derived ingredients
The Report Personal Care Ingredients Market – Segmented by Ingredients and Application
By Ingredients
- Rheology Control Agents
- Surfactants
- Emollients
- Conditioning Polymers
- Emulsifiers
- Others (UV Filters and Pearlizers and Opacifiers)
By Application
- Hair Care
- Oral Care
- Skin Care
- Fragrances
- Others (Nail Care and Toiletries)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
