Product Code: 61283
The market for personal care chemicals is anticipated to register a CAGR of more than 5% during the forecast period 2019-2024. Cosmetics and personal care products are designed to cleanse, protect and change the appearance of external parts of an individual. There are more than thousands of different cosmetic products on the market currently, all with differing combinations of ingredients to provide the desired effect required by the individual using the product.
- Growing awareness among beauty & skin care products and increasing demand for products with active ingredients are augmenting the market's growth.
- Stringent government regulations limiting the use of certain cosmetic chemicals is likely to hinder the market's growth.
- Growing customer demand for natural ingredients opening opportunities for technical innovation is projected to act as an opportunity for the market in future.
Key Market Trends
Skin Care Application to Witness Higher Potential Growth
- Skin care application dominated the global personal care chemicals market in 2018 with an estimated share of around 40%. Increasing youth population, growing purchasing power among urban households, preference for a sophisticated lifestyle is driving the market for skin care products globally.
- The global skin care market is expected to grow at an average rate of around 5% annually. The industry has witnessed a shift of demand from older consumers to a growing younger consumer base. People are increasingly becoming more self-aware about themselves and hence started using skin care at an increasingly young age in order to delay the signs of aging.
- Every single year, new skin care products are being launched by various beauty brands and the trend is likely to grow in the near future owing to the remarkable growth in such segments. For example, the sudden emergence of sheet-masks has taken the skin care by storm and has experienced remarkable growth through 2018 which is expected to continue through 2019 and 2020 too.
- Owing to the boom in skin care products, various smaller manufacturers too have ventured into the marketplace to avail the benefits of the continuously thriving industry. Through the last two years, on an average, over 100 new brands debuted in department and specialty stores in the United States.
- Such positive factors are expected to drive the market for skin care products, and hence the demand for personal care chemicals through the forecast period.
In Asia-Pacific region, India to dominate the Market
- The India personal care chemicals market is expected to register the fastest growth of more than 12% among other Asia-Pacific countries.
- At present, penetration of personal care products in India is comparatively lower when compared to developed or even other developing economies. However, improving economic environment and increasing purchasing power of the Indian population is expected to increase the adoption of personal care products in the country, thereby driving the demand for personal care chemicals.
- According to a report published by the Ministry of Economy and Industry, the beauty and personal care (BPC) industry in the country is expected to reach more than USD 10 billion by 2021, at an estimated growth rate of 5%-6% annually. The personal care and cosmetics sector in India is expected to register continuous growth, with increasing shelf space in retail stores and boutiques in India.
- Moreover, the increasing adoption of men's grooming products (growth of more than 42% since the last five years) in the country too is expected to have a favorable effect on the market.
- According to a study by Assocham, one of the apex trade associations of India, the country's beauty, cosmetic and grooming market is expected to reach USD 20 billion by 2025.
- Such factors are expected to drive the use of personal care chemicals in the county through the forecast period.
The personal care chemicals market is expected to be fragmented, with no players having a significant share to influence the market. Key players in the personal care chemicals market include Ashland, Croda International Plc, BASF SE, Evonik Industries AG, DowDuPont, Clariant, Wacker Chemie AG, and Stepan Company, among others.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Growing Awareness among Beauty and Skin Care Products
- 4.1.2 Increase in Demand for Products with Active Ingredients
- 4.1.3 Other Drivers
- 4.2 Restraints
- 4.2.1 Stringent Government Regulations Limiting the Use of Certain Cosmetic Chemicals
- 4.2.2 Other Restraints
- 4.3 Industry Value-Chain Analysis
- 4.4 Porters 5 Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Ingredients
- 5.1.1 Inactive Ingredients
- 184.108.40.206 Surfactants
- 220.127.116.11 Emulsifiers
- 18.104.22.168 Emollients
- 22.214.171.124 Colorants
- 126.96.36.199 Preservatives
- 5.1.2 Active Ingredients
- 188.8.131.52 Conditioning Agents
- 184.108.40.206 UV Ingredients
- 220.127.116.11 Anti-ageing
- 18.104.22.168 Exfoliants
- 22.214.171.124 Others
- 5.2 Application
- 5.2.1 Skin Care
- 5.2.2 Hair Care
- 5.2.3 Cosmetics
- 5.2.4 Fragrances
- 5.2.5 Oral Care
- 5.2.6 Other Applications
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 126.96.36.199 China
- 188.8.131.52 India
- 184.108.40.206 Japan
- 220.127.116.11 South Korea
- 18.104.22.168 Rest of Asia-Pacific
- 5.3.2 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 5.3.3 Europe
- 188.8.131.52 Germany
- 184.108.40.206 United Kingdom
- 220.127.116.11 Italy
- 18.104.22.168 France
- 22.214.171.124 Rest of Europe
- 5.3.4 South America
- 126.96.36.199 Brazil
- 188.8.131.52 Argentina
- 184.108.40.206 Rest of South America
- 5.3.5 Middle East & Africa
- 220.127.116.11 Saudi Arabia
- 18.104.22.168 South Africa
- 22.214.171.124 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Ashland
- 6.4.2 Croda International Plc
- 6.4.3 BASF SE
- 6.4.4 Lonza
- 6.4.5 Evonik Industries AG
- 6.4.6 Solvay
- 6.4.7 DowDuPont
- 6.4.8 Nouryon
- 6.4.9 Clariant
- 6.4.10 Wacker Chemie AG
- 6.4.11 Innospec
- 6.4.12 Stepan Company
- 6.4.13 Merck KGaA
- 6.4.14 Huntsman International LLC
- 6.4.15 Corbion
- 6.4.16 The Lubrizol Corporation
- 6.4.17 Galaxy Surfactants Ltd.
- 6.4.18 Sasol
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Customer Demand for Natural Ingredients Opening Opportunities for Technical Innovation