Personal care ingredients: Key market research findings
- Demand for products that combat the signs of aging
- Increasing number of new product launches
Technavio has released a new market research report on the global personal care ingredients market, which is expected to grow at a CAGR of 5% between 2016 and 2020. The growing demand for personal care products is the major growth driver for this market. Factors such as the growing demand for personal care products, increasing consumer income levels in developing countries, and rising aging population will aid in the growth of this market during the forecast period. APAC dominates the global personal care ingredients market, occupying around 38% of the total market share. Rising demand for personal care products and the increasing disposable income drive the growth of this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the demand for anti-aging skin care and hair care products for men and women has increased. This has prompted vendors to focus on new areas of interest, such as anti-aging hair care. Vendors are coming up with anti-aging hair care products manufactured with personal care ingredients such as argan oil, silicone, and benzoic acid. Besides anti-aging hair care products, the demand for anti-aging creams, lotions, and anti-cellulite is also growing,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research
With the increased number of personal care product launches, the demand for personal care ingredients has simultaneously increased. To cater to this growing demand, the market is seeing an influx of improved-quality personal care ingredients. Luviset Clear is an example of a hair styling polymer launched in 2014 that is long lasting in humid conditions. Recently, Croda International launched Cithrol 10GTIS, which helps to create microemulsion in oils that are used as face cleansers. The ingredient also renders the product very mild and provides effective emulsification on contact with water.
The key vendors in the global personal care ingredients market include Ashland, BASF, Croda International, Dow Corning and Solvay. The market is highly competitive with the presence of a large number of vendors competing on the basis of product differentiation, product portfolios, technology, manufacturing capacity, and pricing. With the growing demand for improved quality products, the market is set to see an influx of new and better quality product launches over the forecast period, which will create new opportunities in the global personal care ingredients market over the next five years.
A more detailed analysis is available in the Technavio report, Global Personal Care Ingredients Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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