Apr 24, 2020
Outbreak of Covid-19 to Restrict Growth of Global Personal Care Active Ingredients Market in Short-Term, Projects Fact.MR
by Team Fact.MR
Poised to grow at a steady 5%, the global personal care and active ingredient market is finding high uptake in developing countries. Furthermore, tremendous growth in modern organized retail channels, such as departmental stores, specialty store chains, shopping malls and a highly competitive e-commerce market has been witnessed. This is especially seen in emerging countries such as India, China, and Brazil. This remarkable growth in sales channel has enabled suppliers and manufacturers to reach distant customers, spurring global sales of personal care products.
The outbreak of nCoV-19 has decelerated demand and led to major supply chain disruptions in global personal care products, as a result of nation-wide lockdowns. Personal Care Product Council (PCPC), a global trade association for meeting the ever increasing demand of beauty and personal care products, is now working with U.S. and other leading personal care active ingredients producing countries to ensure the safety of supply chains and also making sure it remains active during the pandemic.
Key Takeaways of Global Personal Care Active Ingredients Market
- Global personal care active ingredient market is expected to create a value opportunity of around US$ 1.2 Bn during the forecast period, adding 1.7X more value in 2030 as compared to 2020.
- Botanically extracted personal care active ingredient segment will continue to dominate demand for personal care active ingredient market. The segment shall account for more than one-third of the global personal care active ingredients market.
- The global market for personal care active ingredients is set to witness impressive growth in emerging countries such as India, China and Brazil, owing to the increasing per capita spending in personal care and beauty products.
- Europe is estimated to be the most lucrative market in terms of revenue generation, currently valued at US$ 500 Mn and is expected to show prolific expansion over the forecast period.
- Personal care active ingredients used in anti-ageing personal care products shall continue dominating the market, accounting for more than half of the overall market share by 2030, with growth rate of 4% over the forecast period.
“Consumer inclination to buy clean label beauty products is witnessing enormous traction owing to the benefits associated with these cosmetics products”, says the Fact.MR analyst.
Key Players Focusing on Geographical Expansion to Increase their Footprint in the Global Personal Care Active Ingredient Market
The prominent players of personal care active ingredient market are BASF SE, BERKEM, BGG, Clariant AG, Corum, Croda, DSM and Evonik Industries AG. These players are adopting aggressive growth strategies for establishing global foot-print in order to ensure that their production capacity meets increasing demand, along with their heightened presence in regional markets. For instance, Croda International Plc opened two laboratories in Le Perray en Yvelines, France and Singapore. Provital Group launched a digital space “Vital” to improve communication and synergy amongst departments and employees in order to promote innovation.
More Valuable Insights on Personal Care Active Ingredient Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global Personal care active ingredient market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study delivers essential insights on the Personal care active ingredient market on the basis of product type (Botanical extracts, enzymes & coenzymes, proteins & 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 major regions.
>>> To Get more insights on Personal care active ingredient 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 – the Chemicals & Materials team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the Chemicals & Materials industry 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.