Personal Care Ingredients Market size is poised to reach USD 21 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of personal care ingredients was USD 13 Billion. The market growth can be attributed to evolving lifestyles and rising purchasing power in developing nations. For instance, the active ingredients sector is worth over USD 2 billion globally. Moreover, the dominance is seen in the United States and Europe, claiming nearly 60% of the industry, while Asia holds about one-third, with China alone taking a 60% share within the region.
In addition to these, factors that are believed to fuel the sectoral growth of the market include their diverse applications as anti-fungal, anti-aging, and skin conditioning agents. Active components like UV protectants and exfoliants, along with inactive elements such as surfactants and preservatives, serve as secondary keywords, underlining their extensive use in skincare product manufacturing.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
~6% |
|
Base Year Market Size (2023) |
~ USD 13 Billion |
|
Forecast Year Market Size (2036) |
~ USD 21 Billion |
|
Regional Scope |
|
Application (Skin Care, Hair Care, Oral Care, Color Cosmetics)
The skincare segment in personal care ingredients market is estimated to gain the largest industry share of about 54% in the year 2036. Dominating 40% of the 2019 global cosmetics arena, its trajectory is bolstered by consumers’ surging scrutiny over product ingredients -47% in the U.S. prioritize this knowledge. The drive for growth is twofold: an escalating awareness of skin care’s crucial role in overall health and an eagerness to offset the damaging effects of urban living, pollution, UV exposure, and modern lifestyle shifts. This dual awareness has sparked a robust demand for products designed to neutralize these diverse environmental challenges.
Product (Active, Inactive)
The inactive segment in personal care ingredients market is estimated to gain a significant share of about 52% in the year 2036. The global cosmetics industry, boasting a revenue of USD 103.8 billion, is witnessing the inactive segment’s ascension due to its role in magnifying the efficacy of cosmetic components and its versatile compatibility with numerous formulations. This specialized segment’s influence has surged, becoming increasingly prevalent in hair and skin care products, as recent trends underscore a consumer shift towards products that significantly enhance the overall efficacy of their cosmetic routines.
Our in-depth analysis of the global market includes the following segments:
|
Product |
|
|
Application |
|
|
Consumer |
|
APAC Market Forecast
Personal care ingredients market in the Asia Pacific, is anticipated to hold the largest with a share of about 46% by the end of 2036. The sectoral growth in the region is expected on account of its economic vigor evidenced by per capita spending is anticipated to reach USD 55.70, reflecting the increasing consumer investment in personal care. Notably, online sales are forecasted to make up 18.8% of the total sectoral revenue, underscoring the digital shift in consumer buying patterns. The region’s large and varied population, coupled with rising incomes and changing lifestyles, continues to drive the demand for a diverse range of personal care ingredients. The evolving industry landscape is characterized by robust demand for natural and organic products as well as innovative offers from a growing number of small and medium-sized enterprises, with China, Japan, and India being key contributors to this dynamic sector’s expansion.
European Market Analysis
The Europe personal care ingredients market is estimated to be the second largest, registering a share of about 23% by the end of 2036. The industrial growth in the region is also expected on account of a projected revenue generation of USD 144.60 billion in 2024, indicating a robust industrial demand. Additionally, with online sales poised to represent 23.3% of the total beauty & personal care market revenue by the same year, there is a discernible shift towards digital commerce, as consumers increasingly opt for the convenience of online shopping for their beauty and persona care purchases. This digital trend, combined with the European consumer’s growing preference for natural and organic personal care options, is set to fuel the sectoral’s growth trajectory. In France, the demand for organic and natural beauty products is on the rise, with consumers seeking sustainable and eco-friendly options.
Author Credits: Smruti Ranjan, Rajrani Baghel
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?