In a recent published report, Kenneth Research has updated the market report for Personal Care Ingredients Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Personal Care Ingredients Market products.
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Global Personal Care Ingredients Market
By Product (Surfactants, Emollients, Rheology Modifiers, Emulsifiers, Active Ingredients), Application (Hair Care, Oral Care, Skin Care, Make-Up) and Region (North America, Asia Pacific, Europe, Latin America, Rest of the World) Market Size, Status and Forecast to 2025
The global personal care ingredients market was valued at USD 13.35 billion in 2016 and is projected to reach USD 19.67 billion by 2025, growing at a CAGR of 4.4% from 2017 to 2025.
The growing demand for skin care and oral care products is driving the demand for personal care ingredients. The lifestyle change in developing countries and rise in purchasing power is driving the demand for personal care ingredients. The growing population coupled with increasing awareness regarding skin care and hair care is expected to boost market demand over the forecast period.
1. Market Drivers
1.1 Changing lifestyle and increasing purchasing power of consumers in developing countries
1.2 Increasing demand for multifunctional ingredients
2. Market Restraints
2.1 Stringent government regulations
2.2 Growing demand for natural ingredients
The global personal care ingredients market is segmented on the basis of ingredient, application, and region.
1. By Ingredient:
1.3 Rheology Modifiers
1.5 Active Ingredients
2. By End-Use:
2.1 Hair Care
2.2 Skin Care
2.3 Oral Care
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Stepan Company
2. Croda International PLC
3. Lonza Group Ltd.
5. DOW Chemical Company
7. Wacker Chemie AG
9. Solvay SA
10. Huntsman Corporation
11. Symrise AG
12. Givaudan SA
13. Lubrizol Corporation
14. Galaxy Surfactants Ltd.
15. Lonza Group Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the personal care ingredients market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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