Personal Care Chemicals Market Outlook
According to the report by Expert Market Research (EMR), the global personal care chemicals market size is projected to grow at a CAGR of 5.30% between 2023 and 2028. Aided by the rising demand for high-quality personal care products and the widening applications of personal care chemicals in diverse industries, the market is expected to grow significantly by 2028.
Personal care chemicals are ingredients utilised in the formulation of personal care products like cosmetics, hair care, skincare, and oral care products. These compounds have a vital function in product effectiveness, offering properties such as moisturising, cleansing, conditioning, and protection. They are intrinsic to maintaining and improving skin health, hair health, oral health, and overall personal hygiene. Besides their use in personal care, these chemicals find significant applications in various other industries, including pharmaceuticals and textiles.
The escalating consumer inclination for premium personal care products is fuelling the global personal care chemicals market growth. With an increased cognizance of the benefits associated with personal hygiene and skin health, there has been a dramatic shift towards high-quality personal care products, resulting in a swell in demand for personal care chemicals. In addition, the proliferating trend of self-care and personal grooming has further bolstered the popularity of personal care chemicals, making them a mainstay in the formulation of diverse personal care items.
The burgeoning applications of personal care chemicals across different sectors also considerably contribute to the personal care chemicals market development. In the pharmaceutical industry, personal care chemicals are leveraged for their antimicrobial and preservative properties in drug formulation. The textile industry employs these chemicals for their softening and conditioning capabilities, improving the feel and longevity of fabrics.
Moreover, the escalating demand for natural and organic personal care products has necessitated an increased focus on personal care chemicals derived from natural sources. With the upsurge in environmental consciousness and an increasing trend towards clean beauty, naturally derived personal care chemicals have emerged as a key component in the formulation of organic and clean label cosmetics, skincare, and hair care products. This shift towards natural ingredients is contributing significantly to the personal care chemicals market expansion.
Additionally, the impact of digital influence and e-commerce is invigorating the market growth. The ease of comparison, wider choices, and convenience of home delivery provided by online channels have made a variety of personal care products easily accessible to consumers worldwide, indirectly driving the growth of personal care chemicals market.
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Personal Care Chemicals Market Segmentation
The market can be divided based on ingredients, source, application, and region.
Market Breakup by Ingredients
o Conditioning Agents
o UV Ingredients
Market Breakup by Source
Market Breakup by Application
Market Breakup by Region
Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global personal care chemicals companies. Some of the major key players explored in the report by Expert Market Research are as follows:
Ashland Global Holdings Inc.
Clariant International Ltd
Evonik Industries AG
Nouryon Chemicals Holding B.V.
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