Personal Care Chemicals Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 15.80 Billion |
| Market Size (2029) | USD 20.28 Billion |
| CAGR (2024 - 2029) | 5.11 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Personal Care Chemicals Market Analysis
The Personal Care Chemicals Market size is estimated at USD 15.80 billion in 2024, and is expected to reach USD 20.28 billion by 2029, growing at a CAGR of 5.11% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, there were nationwide lockdowns around the globe, disruptions in manufacturing activities and supply chains, production halts, and labor unavailability that negatively impacted the dyes and pigments market. However, conditions began to improve in 2021, likely restoring the market's growth trajectory during the forecast period. Cosmetics and personal care products are designed to cleanse, protect, and change the appearance of the external parts of an individual. There are more than thousands of different cosmetic products on the market currently, all with different combinations of ingredients to provide the desired effect required by the individual using the product.
- Long-term, the market is growing because more people are learning about beauty and skin care products and more people want products with active ingredients.
- On the other hand, strict government rules that limit the use of certain chemicals in cosmetics are likely to slow the growth of the market.
- In the future, the market is expected to benefit from the growing demand from customers for natural ingredients, which creates opportunities for technical innovation.
- Asia-Pacific dominated the market and may continue to do so during the forecast period.
Personal Care Chemicals Market Trends
This section covers the major market trends shaping the Personal Care Chemicals Market according to our research experts:
Skin Care Application to Witness Higher Potential Growth
- Skin care applications dominated the global personal care chemicals market with an estimated share of around 40%. The desire for a more affluent way of life, the increase in the number of young people, and the rising purchasing power of urban households are the main drivers of the global market for skin care products.
- The global skincare market is expected to grow at an average rate of around 5% annually. The industry has witnessed a shift from demand from older consumers to a growing younger consumer base. People are becoming more self-aware, and as a result, they are beginning to use skin care at a younger age in order to delay the signs of aging.
- Every year, different beauty brands come out with new skin care products, and this is likely to keep happening in the near future because this market is growing so quickly.
- Due to the boom in skin care products, various smaller manufacturers have also ventured into the marketplace to reap the benefits of the continuously thriving industry. Through the last two years, on average, over 100 new brands have debuted in department and specialty stores in the United States.
- L'Oréal says that the global cosmetics market grew by 8.2% in 2021, which was a strong sign of recovery.
- The market for skin care products and, by extension, the demand for personal care chemicals are likely to be driven by these and other positive factors over the next few years.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy in terms of GDP. China and India are among the fastest-emerging economies in the world.
- Consumers in the country prefer multifunctional products. Furthermore, there has been a significant increase in awareness of skin care products, especially among men. The baby skin care products segment has been witnessing rapid growth. China's personal hair care segment has been witnessing development, primarily based on consumer preference.
- According to CIRS GROUP, a product safety and regulatory firm, the total retail sales of cosmetics in China in the first half of 2021 reached Yuan 191.7 billion (USD 28.25 billion), with a year-on-year increase of 26.6%.
- Improving the economic environment and increasing the purchasing power of the Indian population are expected to increase the adoption of personal care products in the country, thereby driving the demand for personal care chemicals.
- Also, the growing popularity of men's grooming products in the country (which has grown by more than 42% in the last five years) is likely to be good for the market.
- According to a study by Assocham, one of India's most important trade groups, the beauty, cosmetics, and grooming market in the country will be worth USD 20 billion by 2025.
- During the forecast period, these things are likely to drive the use of chemicals for personal care in the region.
Personal Care Chemicals Industry Overview
The personal care chemical market is fragmented. Some major players in the market (in no particular order) include Dow, BASF SE, Evonik Industries AG, Nouryon, and Kao Corporation, among others.
Personal Care Chemicals Market Leaders
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Dow
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BASF SE
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Evonik Industries AG
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Nouryon
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Kao Corporation
*Disclaimer: Major Players sorted in no particular order
Personal Care Chemicals Market News
- April 2022: Dow introduced six new products for the beauty and personal care market at in-cosmetics Global in Paris. This collection was introduced to inspire brands and help them serve consumers in line with industry trends.
- March 2022: BASF SE launched Dubbed Pepto Vitae, the new range that addresses a broad range of skin concerns. The Pepto Vitae series was initially launched in Asia, and the new bioactive ingredients will be available in other regions during the course of 2022.
Personal Care Chemicals Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Awareness of Beauty and Skin Care Products
- 4.1.2 Increase in Demand for Products with Active Ingredients
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4.2 Restraints
- 4.2.1 Stringent Government Regulations Limiting the Use of Certain Cosmetic Chemicals
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Ingredients
- 5.1.1 Inactive Ingredients
- 5.1.1.1 Surfactants
- 5.1.1.2 Emulsifiers
- 5.1.1.3 Emollients
- 5.1.1.4 Colorants and Preservatives
- 5.1.1.5 Rheology Control Agents
- 5.1.1.6 Other Inactive Ingredients
- 5.1.2 Active Ingredients
- 5.1.2.1 Conditioning Agents
- 5.1.2.2 UV Ingredients
- 5.1.2.3 Anti-ageing
- 5.1.2.4 Exfoliants
- 5.1.2.5 Other Active Ingredients
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5.2 Application
- 5.2.1 Skin Care
- 5.2.2 Hair Care
- 5.2.3 Makeup
- 5.2.4 Fragrances
- 5.2.5 Oral Care
- 5.2.6 Toiletries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 BASF SE
- 6.4.2 Clariant
- 6.4.3 Corbion
- 6.4.4 Croda International PLC
- 6.4.5 Dow
- 6.4.6 Evonik Industries AG
- 6.4.7 Galaxy Surfactants Ltd.
- 6.4.8 Huntsman International LLC
- 6.4.9 Innospec
- 6.4.10 Kao Corporation
- 6.4.11 Lonza
- 6.4.12 Merck KGaA
- 6.4.13 Momentive
- 6.4.14 Nouryon
- 6.4.15 Sasol
- 6.4.16 Solvay
- 6.4.17 Stepan Company
- 6.4.18 The Lubrizol Corporation
- 6.4.19 Wacker Chemie AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Surging Customer Demand for Natural Ingredients Opening Opportunities for Technical Innovation
Personal Care Chemicals Industry Segmentation
Personal care chemicals are products that are used in various homecare and personal care products. These chemicals are widely used for skincare, hair care, cleanliness, and hygiene, among others. The personal care chemicals portfolio includes ingredients such as emollients, preservatives, emulsifiers, mild surfactants, actives, pearlized, and many more. The personal care chemicals market is segmented by ingredients, application, and geography. By ingredients, the market is segmented into inactive ingredients and active ingredients. By application, the market is segmented into skin care, hair care, makeup, fragrances, oral care, and toiletries. The report also covers the market size and forecasts for the personal care chemicals market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).
| Ingredients | Inactive Ingredients | Surfactants |
| Emulsifiers | ||
| Emollients | ||
| Colorants and Preservatives | ||
| Rheology Control Agents | ||
| Other Inactive Ingredients | ||
| Ingredients | Active Ingredients | Conditioning Agents |
| UV Ingredients | ||
| Anti-ageing | ||
| Exfoliants | ||
| Other Active Ingredients | ||
| Application | Skin Care | |
| Hair Care | ||
| Makeup | ||
| Fragrances | ||
| Oral Care | ||
| Toiletries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Personal Care Chemicals Market Research FAQs
How big is the Personal Care Chemicals Market?
The Personal Care Chemicals Market size is expected to reach USD 15.80 billion in 2024 and grow at a CAGR of 5.11% to reach USD 20.28 billion by 2029.
What is the current Personal Care Chemicals Market size?
In 2024, the Personal Care Chemicals Market size is expected to reach USD 15.80 billion.
Who are the key players in Personal Care Chemicals Market?
Dow, BASF SE, Evonik Industries AG, Nouryon and Kao Corporation are the major companies operating in the Personal Care Chemicals Market.
Which is the fastest growing region in Personal Care Chemicals Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Personal Care Chemicals Market?
In 2024, the Asia-Pacific accounts for the largest market share in Personal Care Chemicals Market.
What years does this Personal Care Chemicals Market cover, and what was the market size in 2023?
In 2023, the Personal Care Chemicals Market size was estimated at USD 15.03 billion. The report covers the Personal Care Chemicals Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Personal Care Chemicals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Personal Care Chemicals Industry Report
Statistics for the 2024 Personal Care Chemicals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Personal Care Chemicals analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
