Skip to main content

China and Europe Host Massive Demand for Personal Care Products, Spur Personal Care Ingredients Manufacture, reports TMR

BASF SE, Evonik, and Akzo Nobel N.V. were the leading manufacturers of personal care ingredients in 2014, racking up a collective share of 24.4% in market value. Their lead in this highly fragmented market allows them to take up a larger part of the value chain from a global perspective. 

According to a new publication released by Transparency Market Research, the competition in the global market for personal care ingredients is expected to remain intense over the coming years, owing to its fragmented nature. The multinational companies have a strong hold over the regions they operate in, creating a chain based on long-term contracts and goodwill.
The threat posed by new entrants to personal care ingredients is expected to remain high till 2023, due to the greater number of investors that this market’s growth rate will attract. The high demand will also create a greater concentration of regional players over time.The global market for personal care ingredients is projected at a CAGR of 5.2% within a forecast period from 2015 to 2023, in terms of revenue. This market is expected to reach US$8.19 bn by the end of 2016 and US$11.76 bn by 2023.


APAC Demand for Skin Care Products Soars
Owing to its sheer population density, rising disposable incomes, and an overall improvement in the quality of products available here, Asia Pacific is expected to solidify its lead in consumption of personal care ingredients by 2023. By the end of 2023, US$4.07 bn is expected to be generated within the Asia Pacific region by personal care ingredients producers.

The Asia Pacific region is showing a high demand for high quality skin care products, a demand which is only expected to increase over the coming years. As this demand increases, it will generate more attention from the leading providers of skin care products and cosmetics, further bolstering the position that personal care ingredients manufacturers hold in this region.
Skin care has consistently been the priority for personal care ingredients manufacturers over the year. By the end of 2023, this application segment is expected to generate a revenue of US$3.94 bn, attributed to the massive demand for skin care products in both emerging and developed economies.

Personal Care Product Demand Rises as Economies Improve
“As an industry completely controlled by consumer demands and marketing strategies, the personal care product makers have always faced the problem of managing product quality with cost. The scenario is changing, as more and more people from emerging economies are today in a position to easily purchase high quality and premium personal care products,” states a TMR analyst.
This is most apparent in China, where the booming economy coupled with a massive population strength is expected to generate a staggering demand for consumer goods such as personal care products.


Regulatory Restrictions Hamper Growth of Certain Personal Care Ingredient Requirement
There are some products that have been widely in use over the years that are now suffering from the increasingly stringent government policies relevant to their manufacture and development. A lot of restrictions have been mounted against several personal care ingredients in North America and Europe, severely cutting down their consumption rate.
The U.S., for instance, puts the FDA in control of personal care ingredients quality control and development status through the Federal Food, Drug and Cosmetic Act. Meanwhile, the European Union Cosmetics Directive (Annex II) has put a ban on almost 1,300 personal care ingredients in Europe, deterring many players from expanding in this region.

The analyst adds, “Two ways to counter these strict measures is to adopt greener ingredients that are proven non-toxic to both humans and the environment. Additionally, manufacturers of personal care ingredients in developed economies that have a global presence can focus more on Latin America and its skyrocketing demand for personal care products such as sunscreens and cosmetics.”

Key segments of the Global Personal Care Ingredients Market
Global Personal Care Ingredients Market, by Products
  • Surfactants
  • Conditioning polymers
  • Emollients
  • Rheology control agents
  • Emulsifiers
  • Antimicrobials
  • Others 
The information presented in this review is based on a Transparency Market Research report, titled, “Personal Care Ingredients Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”

Labels

Labels:
Location: Albany, NY, USA

Comments

Post a Comment

Popular posts from this blog

Global Epoxy Curing Agents Market - Projected to Scale-Up by construction, adhesive, Wind Energy Application to 2022.

“Global Epoxy Curing Agents Market Market Professional Survey Report 2017-2022” Purchase This Report by calling ResearchnReports.com at +1-888-631-6977. Global Epoxy Curing Agents market   Report is a professional and in-depth research report on the world’s major regional market conditions of the Epoxy Curing Agents market, focusing on the main regions (North America, Europe and Asia) and the main countries (United States, Germany, Japan and China). Based on application, the wind energy segment is projected to witness the highest growth from 2017 to 2022, both in terms of value and volume. Wind blades manufacturing is one of the major applications for epoxy curing agents. The depletion of fossil fuels and their volatile prices have resulted in increased energy cost with rise in demand. This research report provides an in-depth analysis of the global Epoxy Curing Agents Market based on enterprise size, services, solution, end-use industry, and geography. The report also prov...
Post a Comment
Read more

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a...
Post a Comment
Read more

Virtual pipeline system market - Demand of cleaner energy alternatives, Trends 2025

Powered by the advancing concerns over renewability of energy sources has affected the natural gas industry positively. The transportation of oil and natural gas in a brisk, albeit safe manner has never been such an urgent requirement. With pipelines being the most common approach, they are the primary choice of supply of energy sources. Physical pipelines, being confined to specific geography, are not found to be effective in terms of unfeasible terrains or technically inaccessible areas. As a result, the virtual pipeline industry has been gaining recognition, and is slated to be one of the fastest growing markets in the upcoming years. According to a report published by Transparency Market Research (TMR), the global virtual pipeline industry is anticipated to witness a steady growth during the forecast period of 2017-2025. The industry opportunity is expected to be supported by the brisk acceleration of the demand of transportation of liquid energy resources. Industrial space...
Post a Comment
Read more