Nov 28, 2019
Personal care Active Ingredients Market Gets Tailwind as Anti-ageing Products Capture 60% of the Market Share, Reveals Fact.MR
by Team Fact.MR
Anti-ageing products account for around 60% of the global personal care active ingredients market. This is fuelled by the population demographics which is gradually shifting toward the elderly, especially in the western countries and Japan. Around 40% of the population in U.S., Europe, and Japan is above 50 years. This age group demands customized personal care products to reduce signs of aging, thereby increasing the demand for anti-aging products with proven efficacy and performance.
In addition, younger consumers are focused on preventing and delaying aging, thereby driving innovation for a wide range of anti-aging products. Thus, anti-ageing products are likely to propel the growth of the global personal care active ingredients market in the near future – states Fact.MR. As per estimates of its newest report, the global personal care active ingredients market is anticipated to surpass US$ 3 Bn by 2029.
Key Takeaways of the Personal Care Active Ingredients Market
- According to Fact.MR, preference for natural active ingredients over synthetic active ingredients makes it a leading segment, accounting for over 2/3rd of global market share
- Botanical extracts and biotechnology products are prevailing in the personal care active ingredients market, accounting for more than half of the global demand
- Fact.MR says that marine active ingredients are anticipated to witness an accelerated growth of around 7% through the forecast period fuelled by innovation and increasing investments in extraction processes
- Anti-ageing and hair care segments are high growth segments among all product categories of personal care active ingredients, and are likely to create a collective incremental opportunity of over US$ 750 Mn by 2029
- Personal care active ingredients market in North America and Europe is highly influenced by regulatory trends and policies resulting in a moderate growth of around 4% till 2029.
- Owing to higher disposable incomes and a large base of young consumers, a high growth of around 8% is witnessed in emerging economies of South Asian countries such as India, Indonesia and Vietnam.
“Personal care active ingredients manufacturers are focusing on expanding their product portfolios by adding bio-based and multifunctional actives, which are anticipated to witness high demand in the foreseeable future,” says a Fact.MR analyst.
Product Innovation Remains Prime Strategy of Prominent Stakeholders
Personal care active ingredients market is consolidated with a handful of global players accounting for over 30% of the market share. The primary focus of manufacturers is the expansion of product portfolio centered towards bio-actives and anti-aging products. Key players in the market have launched numerous new products. Moreover, to remain competitive in the personal care active ingredients market, manufacturers have invested in technological advancements in testing to ensure consumer safety. For instance, BASF SE collaborated with CTIBiotech, a biotechnology company to develop a 3D model of biostructured skin and reconstructed skin in order to research anti-inflammatory properties of active ingredients.
Find More Valuable Insights on Personal care active ingredients Market
Fact.MR, in its new offering, brings to the fore an unbiased analysis of the global personal care active ingredients market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study offers compelling insights on the personal care active ingredients market on the basis of product category (anti-aging, anti-acne, anti-inflammatory, skin lightening, slimming, sun care, hair care), type (botanical extracts, enzymes & coenzymes, proteins & peptides, synthetic actives, biotechnology products, and marine ingredients) across seven key regions and 22 countries.
>>> To get more information on personal care active ingredients market, visit- https://www.factmr.com/report/4351/personal-care-active-ingredients-market
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs across the value chain. With an exhaustive database of over 1,000 reports and 1 million+ data points, the team has analyzed a number of chemicals and materials lucidly in 50+ countries for over a decade. The Chemicals & Materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.