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Personal Care Ingredients Market Trends

Report ID: GMI1753
Published Date: Sep 2024
Report Format: PDF

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Personal Care Ingredients Market Trends

The personal care ingredients industry is witnessing notable trends, particularly the increasing demand for multifunctional ingredients. Consumers are seeking products that offer multiple benefits, such as moisturization, anti-aging, and UV protection, in a single formulation. This trend is driving the development of ingredients that can deliver enhanced performance across various personal care applications.

The rising number of company partnerships also supports the market. For instance, in March 2024, Symrise signed an agreement to establish a joint venture (JV) with Virchow Group, a pharmaceutical actives manufacturer based in Andhra Pradesh, to produce personal care ingredients from Symrise's portfolio.

Additionally, the market is seeing a growing emphasis on sustainable and ethical sourcing of ingredients. As consumers become more conscious of the environmental impact of their purchasing decisions, they are increasingly opting for eco-friendly and ethically sourced products. This has led to a rise in the use of biodegradable ingredients as well as a focus on reducing the carbon footprint associated with ingredient sourcing and production.

Authors: Kiran Pulidindi, Hiralkumar Patel

Frequently Asked Questions (FAQ) :

Global market size for personal care ingredients recorded USD 13.3 billion in 2023 and will witness a 6% CAGR from 2023 to 2032, driven by the increasing consumer awareness of personal grooming and hygiene.

The emollients segment will register a 6.2% CAGR from 2024-2032, owing to their use in personal care formulations, providing skin conditioning, moisturization, and improving the texture and spreadability of products.

Europe market will register a 6% CAGR from 2024-2032, attributed to the high consumer demand for premium and innovative personal care products, coupled with the presence of established cosmetics and personal care brands.

Eastman Chemical Company, Lonza Group Pvt. Ltd., Wacker Chemie AG, Evonik Industries AG, Ashland Inc., Cargill Inc., Dow, and Croda International Plc among others.