[FURL=https://www.industryarc.com/Research/Personal-Care-Ingredients-Market-Research-500056]Personal Care Ingredients Market[/FURL] size is forecast to reach $20.06 billion by 2025 after growing at a CAGR of 5% during 2020-2025. Personal Care are used by individuals to maintain personal hygiene and improve their appearance. Personal care products are used on a daily basis by individuals and are made from ingredients obtained from both natural and synthetic sources. The growth of the market of personal care ingredients is expected to be driven by the high demand for cosmetics.Key Takeaways
Asia-Pacific dominates the personal care ingredients market owing to increasing demand from ingredients such as anti-aging agents, exfoliators, ultraviolet (UV) agents, moisturizers, antioxidants, and antimicrobials.
Changing lifestyle and increasing purchasing power of consumers in developing countries will drive the growth of the market in the forecast period.
Increasing demand for natural ingredients will hinder the market growth in the forecast period
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Personal Care Ingredients Market Segment Analysis - Geography
APAC dominates the personal care ingredients market with a share of 41% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the personal care sector, due to the large prospective population in the region coupled with the factors which are inducing the growth of the market such as rising personal disposable income and increasing internet penetration in the region. Further, distribution of personal care product market has a huge role in the success of a company as it directly impacts the demand and supply in the market and hence the revenue.
Personal Care Ingredients Market Drivers
Milder ingredients to gain prominence in personal care ingredients market
Multifunctional or the one-product fits all approach will drive the market
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the personal care ingredients market. In 2019, the market of personal care ingredients has been consolidated by the top five players accounting for XX% of the share. Major players in the personal care ingredients market are Dow Corning Corporation, Wacker Chemie AG, Ashland Inc., and Clariant Lonza Group Pvt. Ltd. And others.
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