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Global Personal Care Chemicals Market to Reach About USD 24.34 Billion by 2027, Driven by the Rising Demand for Skincare Products

According to a new report by EMR titled, ‘Global Personal Care Chemicals Market Report and Forecast 2022-2027’, the market attained a value of about USD 18.8 billion in 2021. The industry is further expected to grow at a CAGR of 5.30% in the forecast period of 2022-2027 to reach nearly USD 24.34 billion by 2027.

The market growth of personal care chemicals can be attributed to the growing utilisation of skincare products, especially by the young population. With the emerging trend of health and beauty, especially in the wake of the COVID-19 pandemic, the demand for scientifically proven personal care chemicals such as collagen and peptides, among others, is growing.

 

As the focus on healthy ageing and longevity is increasing, the inclination towards personal care chemicals that promote healthy skin is expected to surge. Furthermore, the growing launches and interest in male skincare products are likely to drive the market for personal care chemicals in the forecast period.

 

BASF SE (OTCMKTS: BASFY), one of the leading companies in the personal care chemicals market, launched Hydagen® Aquaporin, Hydrasensyl® Glucan, and Inolixir™ in January 2020. The products are the company’s latest active ingredients for personal care products that offer moisturising and soothing benefits to the skin. Hydagen® Aquaporin moisturises the skin and stimulates cellular water channel formations in the skin whereas Hydrasensyl® Gluca delivers short and long-term hydration while soothing the skin.

 

Moreover, Inolixir™ aids in reducing dark circles, fatigue lines, and dullness and offers anti-redness benefits. The company further announced that it was working for expanding its bioactive portfolio to enable their easy use in makeup applications and provide skincare benefits, such as radiance, hydration, UV, and air pollution protection, among others. Such innovations and developments are providing impetus to the growth of the market for personal care chemicals.

 

Market Analysis by Ingredient, Source, Application, and Region:

  • The market, on the basis of ingredient, can be divided into inactive ingredients and active ingredients.
  • Based on source, the industry can be divided into organic and synthetic.
  • The major applications of personal care chemicals include skin care, hair care, cosmetics, fragrances, and oral care, among others.
  • The regional markets for personal care chemicals include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • The growing launches of new and innovative personal care products to meet evolving consumer demands are driving the growth of personal care chemicals.
  • The market for personal care chemicals is being fuelled by the increasing demand for cosmetics products owing to the rising beauty-consciousness.
  • With the rising awareness regarding the benefits of personal care products with active ingredients, the market for personal care chemicals is growing.
  • The increasing research activities to develop advanced and innovative personal care chemicals are likely to propel the growth in the forecast period.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for personal care chemicals for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the ingredients, sources, applications, and major regions of personal care chemicals.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global market are Ashland Global Holdings Inc., Merck KGaA, BASF SE, Clariant International Ltd, Evonik Industries AG, and Nouryon Chemicals Holding B.V., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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