The global Medicated Personal Care Products Market is Expected to grow exponentially over the forecast period of 2017-2027, reveals a research report published by Market Research Future (MRFR). The market has observed continued and sustained growth over the past few years on account of changing lifestyle and increased awareness for wellness and personal care. Growing disposable income also supports the growth among consumers in the emerging economies. Evolving lifestyle due to western influence, growing beauty consciousness among women and the desire to live up to current beauty standards coupled with the emergence of the metrosexual male population is a critical driver of the market growth. Growth in aging-population who are more likely to indulge in personal care and anti-aging solutions have augmented the market growth. The advent of the internet and social media has helped to spread awareness regarding these products. Furthermore, the emergence of e-commerce portals where these products are available at attractive discounts also helps in the commercialization of such products and expansion of the market.
Medicated personal care products enjoy a diverse distribution landscape and are available easily in supermarkets or chemist shops which aids the growth of the market. The market is also expected to maintain a steady growth due to growing awareness towards side effects of synthetic products and high affinity for organic, herbal and ayurvedic products. Introduction of niche products with active ingredients have spurred the growth of the market.
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The growth of young urban population who tend to indulge more in personal care products are also fueling the growth of the market. Additionally, one factor which has boosted the growth of the market is the rising endorsement of brands and products by celebrities. Increasing the visibility of personal care products facilitated by rigorous marketing and promotional activities has resulted in higher adoption among consumers. Increasing R&D activities to innovate new and innovative product have also reflected positively on the growth of the market. Despite the positive outlook, the growth of the market might be restricted by certain factors. In countries with Muslim dominated population, there has been a growing trend to use Halal cosmetics and personal care products which might limit the growth of the brands not adhering to Halal standards. Stringent regulations pertaining to packaging and labeling of products, and an escalating number of side effects caused by personal care products are other possible hindrances.
The global medical personal care products market is very competitive, with consumers having high expectations for regular innovations of products. The key players functioning in the market include Personal Care (US), KPH Cosmos Pvt. Ltd (India), L’Oreal (Paris), TWASA (India), Johnson & Johnson (US), DCC Health and Beauty Solutions LTD (UK).
The global medicated personal care products market has been segmented based on type and beauty care. By type, the market has been segmented into Antiperspirant, Deodorant, Oral Care, Hand Sanitizers, natural personal care product, others. By beauty care, the market has been segmented into oils, shampoos, moisturizers, gels, oils, soaps, others.
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The key markets of the global medical personal care products include the Americas, Europe, Asia Pacific and the Middle East & Africa. The America market for medicated personal care products represents some of the most significant and high potential for export-led growth since many countries source their personal care products from US companies. Asia Pacific market is expected exhibit considerable growth over the forecast period due to rising disposable income in the region. The Middle East & Africa market holds a relatively lower share of the market when benchmarked against other markets due to lower disposable income in the region, especially in Africa.
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