Cosmetics & personal care ingredients refer to the raw materials used for the composition of cosmetic products. The ingredients can be chemically synthesized or naturally derived which are later mixed with the bases to enhance the properties of several cosmetic products. The global MENA, G.C.C., and China cosmetic & personal care ingredients market accounted for US$1,530 million in the year 2016 and is expected to reach US$2,209.5 million by the year 2023, prospering at a CAGR of about 5.5% during the forecast period.
The global cosmetics & personal care ingredients market growth is associated with the regional demand for personal care and cosmetic ingredient chemicals in MENA, G.C.C., and China. For instance, China accounts for about 10% of the revenue produced by the overall personal care industry and is foreseen to prosper at a CAGR of about 8% over the forecast period. The growth of the market is attributed to factors such as urbanization, an increase in disposable income of consumers residing in this region and improvement in the lifestyle of people.
Furthermore, significant spending on cosmetics & personal care products in the Middle East is expected to stimulate the growth of the cosmetics & personal care ingredients market. The rising demand for enhanced functionality and multiple advantages from a single product is a major factor driving the demand for advanced multifunctional ingredients in personal care and cosmetic products. These multifunctional products comprise both active as well as specialty chemical ingredients. The advanced multifunctional ingredients can provide more than one function in a single personal care/ cosmetic product. For instance, blemish balm cream that has been emphasized as a multifunctional product can treat various skin problems such as dullness, aging, and tanning.
Key Players
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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Market Segmentation
MENA/G.C.C./China cosmetics & personal care ingredients market can be primarily segmented on the basis of ingredient type, crucial applications, and regional markets.
On Basis of ingredient type, MENA/G.C.C./China cosmetic & personal care ingredients market can be segmented into dimethicone, parabens, tocopherol, titanium dioxide, sodium Laureth sulphate, sodium lauryl sulphate, benzenes, formaldehyde, isopropyl, and glycerol. Based on applications, cosmetics & personal care ingredients market can be segmented into haircare, skincare, shower & bathing, colour cosmetics, and perfumes.
Major regions driving the growth of personal care and cosmetic ingredients market include the Middle East & North Africa, China and Gulf countries including Kuwait, Saudi Arabia, Qatar, Oman, Bahrain, and the UAE.
Regional Analysis
The market report confirms that China accounted for a substantial market share owing to the easy availability of raw materials, affordable labour costs, rising per capita spending on cosmetics and personal care products in the country, and improvement in the demand for multifunctional products. China led the overall market accounting for about 66% of the market share, followed by G.C.C and MENA. China is considered as the fastest prospering region in cosmetics & personal care ingredients market. The Chinese cosmetic ingredients market is expected to grow at a CAGR of about 5.89% during the forecast period. The Middle Eastern personal care and cosmetic ingredient market are also expected to register considerable growth.
Important Facts
Ashland Global Holdings has acquired Pharmachem Laboratories, a prominent provider of cosmetic and personal care ingredients. The acquisition enabled the organization to enhance its product range and introduce effective personal care products. Further, in April 2017, Ashland global holdings launched three new products, called FiberHance, Antaron, and Harmoniance. The products offer extraordinary benefits and are intended to be used for hair care and skincare. The new product launch enabled the organization to extensively strengthen its product portfolio.
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Table Of Contents:
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Market, by Type
7 Global Market, by Delivery
8 Global Market, by End User
9 Global Market, by Region
10 Competitive Landscape
11 Company Profile
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