Comparing 20 vendors in Personal Care Ingredient across 41 criteria.
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The Personal Care Ingredients Companies quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Personal Care Ingredients. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 100 Personal Care Ingredients Companies of which the Top 20 Personal Care Ingredients Companies, World were categorized and recognized as the quadrant leaders.
The Personal Care Products Council (PCPC) and the Natural Products Association define personal care ingredients as ingredients that come from or are made from a renewable resource found in nature (flora, fauna, mineral) and petroleum compounds sources. For each ingredient, the substance must be listed as Generally Recognized as Safe (GRAS) by the FDA when used in accordance with Good Manufacturing Practices (GMP).
Personal care ingredients are constituents used for manufacturing consumer care products. These ingredients are used in various end-use applications such as skin care, hair care, oral care, and makeup. They provide cleansing toning moisturizing, hydrating, exfoliating, conditioning, anti-dandruff, antiperspirants, neutralizing, coloring, perfuming, and styling functionalities to personal care products.
Personal care ingredients include ingredients such as conditioning polymers, emollients, surfactants, rheology modifiers, emulsifiers, hair fixative polymers, antimicrobials, UV absorbers, skin-lightening agents, anti-ageing agents, and opacifiers.
The 360 Quadrant efficiently maps the personal care ingredients companies based on criteria such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies for the market presence of the personal care ingredients quadrant. The top criteria for product footprint evaluation included Product Type (Rheology Modifiers, Emollients, Surfactants, Emulsifiers and Conditioning Polymers) and Product Applications (Skin care, Hair care, Oral care, and makeup).
Key trends highlighted in 360 Quadrants:
- The personal care ingredients market is highly competitive. The market size was estimated at USD 12, 673 million in 2023 and is projected to reach USD 14, 897 million by 2027, at a CAGR of 4.0% between 2023 and 2027. Increased disposable earnings and changes in consumers' standards of living together improved their purchasing power. The market is expanding because of rising consumer awareness of products with multiple uses, these are the major factors expected to drive the personal care ingredient industry.
- The rising level of consumer understanding of hygiene and health in the dynamics of the personal care ingredients industry. Personal Care Ingredients companies are modifying their personal care ingredients portfolio to meet the demand of increasing awareness regarding hygiene and skin care products. In February 2023, Dow presented its DEXCARE CD-1 Polymer, its new bio-derived deposition aid to boost shampoo’s conditioning effectiveness.
- Based on the ingredients type, the emollient segment accounted for the largest share in 2022 in terms of value and is expected to retain its position due to its wide applicability in various applications. Some of the personal care ingredients companies in the domain include BASF SE, Ashland Inc., Solvay, The Dow Chemical Company and Clariant
- In terms of applications, the skin care applications segment accounted for a share of 34%, thereby dominating the personal care ingredients market. During the forecast period, the demand for personal care chemicals in skin care applications is anticipated to rise due to the ageing population's increased desire for younger-looking skin in nations like South Korea, Japan, and the UK.
- Demand for personal care ingredients in hair care products is rising as customers become more aware of the damaging effects of the environment on hair follicles.
- A major aspect of creating development prospects for personal care ingredients companies is they are the most widely utilized ingredient in the market for personal care products due to their versatility in skin care, hair care, mouth care, makeup, and toiletries.
- Another primary reason driving the for personal care ingredients companies is the rising need for compounds like anti-ageing, exfoliating, UV, moisturizing, antioxidant, and antibacterial substances. Personal Care Ingredient Manufacturers are continuously introducing new products to meet the demand of customers. For instance, In January 2022, BASF launched Peptovitae, a series of four patented peptides that represent a new generation of scientifically developed biomimetic peptides. Peptovitae was developed in Asia through an exclusive relationship with Caregen, a Korean-based company and global leader in biomimetic peptide R&D.
- Surfactants accounted for the second-largest share, in terms of value, reducing the surface tension between two surfaces, surfactants are utilized to boost the spreading and wetting capabilities.
- When it comes to applications that demand the hair care industry is evolving to address issues with hair, including dandruff, an itchy scalp, graying hair, hair loss, and thinning hair, among others. For instance, in March 2022, Clariant Natural Ingredients launched Prunizen, a natural “feel good” active to fight stress-induced hairloss, improve hair vitality & density, and restore hair & scalp well-being.
- Europe was the largest market for personal care ingredients companies, in terms of volume. This is a result of the more expensive ingredients for personal care products in Europe. The region's cosmetics business is driven by consumer demand for high-end cosmetics and rising disposable income levels. Additionally, the production of personal care products is expanding in Europe and is anticipated to do so during the projected period.
- This market is dominated by major Personal Care ingredients companies BASF SE (Ludwigshafen, Germany), Ashland Inc. (Wishareon, USA), Solvay (Brussels, Belgium), The Dow Chemical Company (Midland, USA), and Clariant (Muttenz, Switzerland), are the key players of the market, accounting for nearly 30% shares of the personal care ingredients market.
- Companies are adopting various strategies for acquisitions, product launches, and contracts & agreements to increase their share in the market. Some personal care ingredients companies are focusing on launching new products and expanding their reach in different regions and applications. For instance, In April 2022, Solvay introduced Mirasoft SL L60 and Mirasoft SL A60 - two new high-performance biosurfactants that enable the development of sustainable beauty care products. Based on rapeseed oil and sugar with low environmental and carbon footprint, these glycolipid biosurfactants are suitable for a broad range of applications in beauty care such as shampoos, conditioners, shower gels, face washes and creams.
- Personal Care Ingredients companies are also focused on building strategies to address luxury skin care products, cosmetics, and perfumes that are on the rise in European countries. To cite an example, in March 2023, Clariant launched its new, natural emollient, Plantasens Pro LM, which provides a luxurious, rich, and caring feel to the skin during and after application. Plantasens Pro LM is 100% natural, readily biodegradable, COSMOS and Natrue certified.
- Most of the personal care ingredients companies are introducing new product developments the primary area of focus for the market players is to increase their revenue and gain a higher share in the market. For instance, in August 2021, Clariant signed an agreement to acquire the remaining 70% of the Brazilian Personal Care Specialties company, Beraca from the founding Sabará family. It has held a 30% stake in the company since 2015. Through this acquisition, Clariant will gain valuable access to natural materials based on the biodiversity of the Brazilian rainforest and this will open great opportunities for high-quality growth for its Care Chemicals business.
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