Personal Care Ingredients Global Market Report 2024

Personal care ingredients find applications in skincare, haircare, oral care, and cosmetics. These ingredients are typically derived from synthetic and natural sources. Synthetic materials like parabens, sodium lauryl sulfate, formaldehyde, and propylene glycol are commonly used, while natural ingredients such as cocoa butter, coconut oil, soy seeds, and essential oils are also prevalent.

The primary categories of personal care ingredients encompass emollients, surfactants, emulsifiers, rheology modifiers, conditioning polymers, and others. Emollients, which are natural components, play a key role in softening and moisturizing hair and skin. Surfactants, compounds compatible with both water and oil, are essential for cleaning and foaming in products like shampoos, conditioners, shower gels, liquid soaps, and bath additives. Emulsifiers prevent the separation of dissimilar ingredients, like oil and water, in emulsions, contributing to the formulation of creams and lotions. Rheology modifiers, acting as thickeners or viscosity modifiers, provide control over the texture and viscosity of personal care and home care solutions. Conditioning polymers absorb into skin and hair proteins, enhancing skin feel and hair manageability, resulting in softer and smoother skin and hair. Personal care ingredients are sourced from natural and synthetic origins, and they are integral components in skincare, haircare, oral care, cosmetics, and various other applications.

The personal care ingredients market research report is one of a series of new reports that provides personal care ingredients market statistics, including personal care ingredients industry global market size, regional shares, competitors with a personal care ingredients market share, detailed personal care ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the personal care ingredients industry. This personal care ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The personal care ingredients market size has grown strongly in recent years. It will grow from $15.08 billion in 2023 to $16.29 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The expansion observed in the historical period can be attributed to several factors, including the influence of beauty and wellness trends, innovations in skincare and cosmetics, consumer demand for natural and organic products, the aging population's interest in anti-aging products, and the establishment of regulatory standards ensuring ingredient safety.

The personal care ingredients market size is expected to see strong growth in the next few years. It will grow to $22.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be attributed to the adoption of sustainable packaging and supply chain practices, sustained demand for clean and green beauty products, the rise in personalized skincare items, the expansion of men's grooming products, and an increasing focus on mental well-being. Major trends expected in the forecast period include the development of microbiome-friendly personal care products, AI-driven skincare recommendations, the availability of vegan and cruelty-free ingredient options, the incorporation of nanotechnology in ingredient delivery, and the utilization of CBD and hemp-derived ingredients.

The forecast period is anticipated to witness an upsurge in demand for the personal care ingredients market, primarily propelled by the increasing young population. The burgeoning desire among the youth to maintain a pleasing appearance and be presentable is fostering the demand for personal care products. As of November 2022, the global population of young individuals aged between 10 and 24 has reached an unprecedented high of 1.8 billion, as reported by the Partnership for Maternal, Newborn & Child Health (PMNCH). This surge in the youth population is poised to fuel the demand for personal care products, consequently contributing to the future growth of the market.

The personal care ingredients market is expected to experience growth driven by the rise in e-commerce sales. E-commerce, involving online transactions and interactions, has become a significant avenue for consumers to explore and select products that align with their preferences, including those with natural, organic, or innovative ingredients. This shift in consumer behavior not only enhances convenience but also stimulates the demand for specialized, high-quality ingredients in personal care formulations. For instance, retail e-commerce sales in the US for Q2 2023 reached $277.6 billion, reflecting a 2.1 percent (±0.9%) increase from Q1 2023, according to data from the Census Bureau of the Department of Commerce. This surge in e-commerce sales is a key driver propelling the growth of the personal care ingredients market.

Leading companies in the personal care ingredients market are responding to the growing demand for sustainable beauty care solutions by introducing biosurfactants. Biosurfactants, naturally occurring compounds produced by microorganisms, have the ability to reduce surface tension and enhance interactions between liquids and solids. For example, Solvay, a Belgium-based chemical company, launched Mirasoft SL L60 and Mirasoft SL A60, two 100% biobased and biodegradable biosurfactants derived from rapeseed oil and sugar. These biosurfactants, produced through a cost-efficient fermentation process, cater to various beauty care applications, including shampoos, conditioners, and face washes.

Major players in the personal care ingredients market are focusing on new product innovations to meet consumer demands and enhance user benefits while maximizing revenues. In April 2022, Biosynthetic Technologies, a US-based renewables and environment company, introduced BioEstolide 250-100, a groundbreaking high-performance 100% biobased emollient for cosmetic and personal care applications. Derived from organic fatty acids in bio-derived oils, this innovative emollient offers protection, moisturization, and a superior sensory profile.

In October 2021, Evonik, a Germany-based specialty chemicals company, completed the acquisition of Botanica for an undisclosed amount. This strategic move aimed to strengthen Evonik's presence in botanical system solutions and active cosmetic ingredients markets, leveraging Botanica's expertise in sustainability and plant extraction. Botanica, based in Switzerland, is known for producing sustainable botanical extracts for the personal care industry.

Major companies operating in the personal care ingredients market include BASF SE, Ashland Inc., Solvay SA, Dow Chemical Company, Clariant AG, Croda International PLC, Evonik Industries AG, J.M. Huber Corporation, Huntsman International LLC, The Lubrizol Corporation, Akzo Nobel NV, Pharmacos, Nouryon Specialty Chemicals B.V., Lonza Group Ltd., Berkshire Hathaway Inc., KCC Corporation, Galaxy Surfactants Ltd., Oxiteno SA, Eastman Chemical Company, Saudi Basic Industries Corporation, Symrise AG, Sinerga SpA, SG Ceresco Inc., Pride Seeds, Grain Millers Inc., Innospec Inc., AEP Colloids Inc., Jarrow Formulas Inc., Soliance, Wacker Chemie AG

North America was the largest region in the personal care ingredients market in 2023. Europe was the second largest market in personal care ingredients market share. The regions covered in the personal care ingredients market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the personal care ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The personal care ingredients market consists of sales of preservatives, UV filters and antioxidants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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