Personal care active ingredient manufacturers are experimenting with product formulations and investing in industry collaborations to strengthen market position.
ROCKVILLE, MD / ACCESSWIRE / July 9, 2020 / The global personal care active ingredients market is projected to expand with a moderate 5.5% CAGR between 2020 and 2030. The report says that, the coronavirus outbreak is hurting the demand for personal care products, as consumers spend more on essential commodities. In addition, the outbreak has also caused disruptions of supply chains and stay-at-home orders, which reduce the sales of personal care products, and that of active ingredients.
'Changes in consumer bias towards clean label formulations in personal care products is rapidly gaining traction owing to rising health consciousness. Demand for anti-ageing beauty products in particular will bolster demand for active ingredients, once the pandemic is brought under control,' says the FACT.MR report.
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Personal Care Active Ingredients Market- Key Takeaways
- Botanical extracts remain highly sought after in personal care products owing to consumer awareness about health benefits.
- Anti-aging product applications are rapidly gaining prominence, driven by consumer concerns about grey hair, wrinkles, and hair fall issues.
- North America is a leading market for personal care active ingredients, owing to strict regulations associated with personal care and cosmetics ingredients.
Personal Care Active Ingredients Market- Driving Factors
- Rising popularity of premium personal care products, coupled with growth in disposable incomes are key growth factors.
- Strong growth within the organized retail sector is bolstering overall distribution and sales.
Personal Care Active Ingredients Market- Major Restraints
- Limited access to active ingredients is a major restraint to market growth.
- High cost of purchasing raw materials for active ingredients hinders market developments.
COVID-19 Impact on Personal Care Active Ingredients Market
Lockdown restrictions and higher expenditure on essential commodities has reduced the demand for personal care and cosmetic products. In addition, restrictions on industrial activity has disrupted raw material supply chains, which is hampering the active ingredients supplies in the short term. The personal care active ingredients market will witness a steady recovery towards 2021 as regulations are relaxed.
The personal care active ingredients market players are emphasizing on research for product development in addition to mergers and acquisitions. For instance, Codif has introduced an active skin care ingredient called EPS Seaglow. BASF SE, Evonik Industries, Clariant, Lonza Group, DSM, and Givaudan are some of the top personal care active ingredient manufacturers in the global market.
Explore the global personal care active ingredients market with 75 figures, 77 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4351/personal-care-active-ingredients-market
About the Report
This study offers readers a comprehensive market forecast of the personal care active ingredients market. Global, regional and country-level analysis of the top industry trends impacting the personal care active ingredients market is covered in this FACT.MR study. The report offers insights on the personal care active ingredients market on the basis of type (botanical extracts, enzymes & coenzymes, proteins and peptides, synthetic actives, biotechnology products, and marine ingredients), and product category (anti-aging, anti-acne, anti-inflammatory, skin lightening, slimming, sun care, and hair care) across six regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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