Cosmetics & Personal Care Ingredients Market Overview to 2023
Cosmetics & personal care ingredients refer to the raw materials used for manufacturing cosmetic products. The ingredients can be either chemically synthesized or naturally derived. These ingredients are blended and formulated to enhance the properties of various cosmetic products. The different categories of ingredients used in manufacturing of cosmetics include, emulsifiers, emollients, rheology modifiers, surfactants, and antioxidant among others. Ingredients that constitute these categories include — Tocopherols, Dimethicone, Parabens, Formaldehydes, Sodium Lauryl Sulphate, Titanium Dioxide, Glycerin and Alcohols among others. In terms of application, the market is segmented into — Skincare, Hair Care, Fragrance, Color Cosmetics, Bath & Shower and Other cosmetic products. A rapidly growing personal care industry in the developing markets is the prominent market demand driver identified in the market.
For instance, China accounts for nearly 37% of revenue generated by the Asia Pacific cosmetics & personal care ingredients industry and is estimated to exhibit a significant CAGR of around 6.55% over the assessment period due to the various factors such as rapid urbanization, rise in per capita disposable income, and change in lifestyle of people. Thus, the augmented demand for personal care products and strengthening growth of the personal care industry in the developing regions are estimated to be the protuberant factors responsible for the growth of the personal care ingredients market.
Global top 10 Key Players:
Key players of the MENA/G.C.C./China Cosmetic & Personal Care Ingredients Market are SABIC, Artec Chemical Company Limited, Dongming Jujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Chemanol and DOGOIDE Group among others.
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- MENA/G.C.C./China Cosmetic & Personal Care Ingredients Market is projected to reach USD 1,530 million in 2016 and expected to reach USD 2,209.5 million in 2023 with a CAGR of 5.5%
- China accounted for largest share due to easy availability of raw material, lower labor cost and increasing per capita spending on the cosmetics and personal care products in the country, increasing demand of multifunctional products leading to specialty Ingredients demand boost.
- Key players including SABIC, Artec Chemical Company Limited, Dongming Jujin Chemical Co., Ltd., and Ittihad International Chemicals Trading LLC (IICT) among others are investing more into product development and capacity expansion in terms to capture the market share.
- China dominate the market accounting for 66%, followed by MENA and G.C.C. China is forecast to be the fastest growing region in Cosmetic & Personal Care Ingredients Market at close to 5.89% CAGR from 2017 to 2023.
- Formaldehyde accounted for the largest market share in 2016, and is estimated to remain the same owing to its usage as preservatives and additives in Personal Care & Cosmetic Products. Glycerols are second highest segment owing to increasing demand application segment including skin creams, moisturizers and color cosmetics products.
- The skincare segment is estimated as dominating segment owing to increasing demand of anti-aging skincare products in youth population. Regionally, a similar market trend has been observed across different regions covered.
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The report about MENA/G.C.C./China Cosmetic & personal care ingredients market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report further provides detail information about strategies used by top key players in the industry. It also gives a broad study about different market segments and regions.
- Cosmetics & Personal Care manufacturers
- Traders and distributors of Cosmetics & Personal Care
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
Geographically, the Cosmetics & Personal Care Ingredients Market is fragmented among regions Middle East & North Africa, China and Gulf countries. Among all the regions, China is estimated to be largest consumer of cosmetics & personal care ingredients owing to increasing demand of multi-functional ingredients, high demand of anti-aging products, and skin whitening products in Cosmetics & Personal Care Market. The skincare and hair care products account for more than half of the retail value in China’s cosmetic market. Furthermore, the market is estimated to witness relatively high CAGR of 5.89% over the forecast period.
Turkey cosmetics and Personal Care Ingredients Market is estimated to witness maximum value share growth over the forecast period owing to large manufacturing base for cosmetics & personal care products as well as major exporting hub of soap and hair care products. North Africa, Israel and Rest of MENA market has relatively low share in cosmetics and personal care ingredients market. The market suffice their cosmetics and personal care needs by imports from Turkey and nearby European countries.
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