The Global Report on the Cosmetics and Personal Care Ingredients Market, as discussed by analysts from Market Research Future (MRFR), reveals that the market may rise up to USD 14,170.26 Mn by 2025 at a CAGR of 5.78% during the forecast period encompassing 2019 to 2025.
The Global Market could benefit from the impact of social media and the entertainment industry. At the same time, it would profit from the rising level of disposable income, growing consciousness regarding hygiene standards, and others. Trends related to environment-friendly products are also expected to provide proper direction to the market.
Croda International Plc (UK), BASF SE (Germany), Akzo Nobel N.V. (Netherlands), SABIC (Saudi Arabia), Dow (US), Pharmacos (India), Eastman Chemical Company (US), Sinerga S.p.A. (Italy), Symrise (Germany), and Coptis (US) are some of the leading brands involved in the Global Cosmetics and Personal Care Ingredients Market. These companies are impacting the market by focusing on trends to decide their strategic moves. MRFR listed some of their recent changes to understand the flow of the market.
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The Global Market related to Cosmetics and Personal Care Ingredients has been studied by MRFR experts on the basis of a deft segmentation that includes Type, Application, and End Use. These segments and their insights are slated to reveal market dynamics that can assist in developing tactical methods.
By Type, the global study of the market includes titanium dioxide, isopropyl, formaldehyde, glycerols, sodium lauryl sulfate, alcohols, dimethicone, botanical extracts, tocopherols, benzones, parabens, surfactants, polymer, oleochemical, and others. The formaldehyde segment has the largest market share and may register the fastest growth during the forecast period.
By Application, the study of the Global Cosmetics & Personal Care Ingredients Market includes segments like preservatives, thickeners, emulsifiers and stabilizers, emollient, moisturizers, and others. The preservative segment could register 4.5% CAGR during the forecast period.
By End Use, the market includes hair care, fragrance, bath & shower, skincare, and others. The skincare segment had a total market share of 32.6% in 2018, which would experience 7.1% CAGR during the forecast period.
North America and Europe are major game-changers. The US is a huge market for Cosmetics and Personal Care Ingredients. In Europe, countries like France, the UK, and others have a solid foundation for the market. In Asia Pacific, the markets in South Korea and Japan are emerging as strong contenders.
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Some of the major market players have started realizing the importance of products that are based on ingredients with little or no environmental impact. This is to save the planet from rising pollution levels. At the same time, these companies are going vegan to reduce the level of animal cruelty. Such beliefs had led Vestige to launch their new Assure Natural products that have been certified by scientific organizations as an able provider of deep nourishment to the body, skin, and hair. It also received a certificate fro PETA for being 100% vegan.
The recent COVID-19 crisis has changed the global market significantly as people are now opting more for personal care products to boost their hygiene standards and increase their immunity level. That is why the intake of personal care products that ensure hygiene level has gone up and several new entrants are now taking part to increase the profit margin.
Aer is trying to grow as eco-friendly and with that intent in mind, they have designed their product that would come in reusable plastic containers. The company would also focus on recycling their raw materials.
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