TAGS: Skin Care
According to a new report by MarketsandMarkets, the personal care ingredients market is expected to reach USD 13.9 billion by 2025. The growth of the market is primarily triggered by the changing lifestyle and increasing purchasing power of consumers in developing countries.
Emollients - Largest Ingredient Type
An increase in demand for multifunctional personal care ingredients is another factor driving the personal care ingredients market. The personal care industry is driven by various ingredients and chemicals. The market size of these ingredients is growing rapidly because of their various applications, not just in the personal care industry. This is boosting the personal care industry. Some of the major ingredients are surfactants, rheology modifiers,
emulsifiers, and emollients.
The emollients segment accounted for the largest share of the global personal care ingredients market in terms of value in 2019. This is mainly because emollients contain various compounds with soothing and smoothening properties, which establish a protective barrier on the skin’s surface. Everyday use of emollients can be effective in various skin-related problems, such as eczema, psoriasis, and ichthyosis. They are used in skincare products in various forms, such as gels, lotions, and emulsion creams. Petroleum jelly or mineral oil-based emollients are the most commonly used emollients.
Europe Estimated to be the Largest Market
The skin care segment is the largest application segment of personal care ingredients market. The growing aspiration to have younger skin among the aging population in countries, such as South Korea, Japan, and the UK is expected to increase the demand for personal care ingredients in
skin care applications during the forecast period.
Europe is the largest market for personal care ingredients, followed by APAC and North America. This is owed to the higher price of personal care ingredients in Europe. Moreover, the inclination towards natural and organic personal care and easily biodegradable products is another factor which has led to higher price and its higher market size in terms of value. The demand for luxury skin care products, cosmetics, and perfumes is on the rise in European countries. This has led to their increased production, thereby driving the demand for personal care ingredients.
Source: M&M