Enjoy complimentary customisation on priority with our Enterprise License!
The personal care chemicals market share is expected to increase by USD 28.28 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.23%.
This personal care chemicals market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers personal care chemicals market segmentation by product (skin care, hair care, cosmetics, fragrances, and others) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The personal care chemicals market report also offers information on several market vendors, including Ashland Global Holdings Inc., BASF SE, Berkshire Hathaway Inc., Clariant International Ltd., Corbion NV, Croda International Plc, Galaxy Surfactants Ltd., Huntsman International LLC, Innospec Inc., Lonza Group Ltd., Merck KGaA, Nouryon Chemicals Holding BV, RAG-Stiftung, Sasol Ltd., Solvay SA, Stepan Co., The Dow Chemical Co., and Wacker Chemie AG among others.
Download the Free Report Sample to Unlock the Personal Care Chemicals Market Size for the Forecast Period and Other Important Statistics
The growth in e-commerce sales of personal care products is notably driving the personal care chemicals market growth, although factors such as stringent government regulations may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the personal care chemicals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Personal Care Chemicals Market Driver
The growth in e-commerce sales of personal care products is one of the key drivers supporting the personal care chemicals market growth. Nowadays, people do not have much time for leisure activities because of their busy schedules, therefore, they prefer to shop online due to its convenience rather than visit a physical store. Furthermore, the prices offered to customers are often lower on e-commerce platforms when compared with physical stores because of the reduction in the overhead costs when products are sold through online platforms. Moreover, many international and national vendors are selling personal care products through e-retailing websites, which helps promote and enhance their brands. Retailing is witnessing an enormous shift with the rising dominance of the e-commerce sector. These factors are driving the personal care chemicals market growth.
Key Personal Care Chemicals Market Trend
Growing demand for male personal care products is one of the key personal care chemicals market trends that is contributing to the market growth. The male grooming product sector is a lucrative market, and personal care products are among the popular products in this segment. The popularity of male grooming products has increased as men increasingly use them as a part of their daily grooming routine. Nowadays, they spend more on male-specific toiletries than on shaving products. Brands focus on providing innovative personal care products targeted at male customers. To gain an edge over other brands and to address the growing and rapid changes in consumer demand, personal care product manufacturers have been encouraged to introduce gender-specific products. Such initiatives will propel the personal care chemicals market growth during the forecast period.
Key Personal Care Chemicals Market Challenge
Stringent government regulations is one of the factors hindering the personal care chemicals market growth. For instance, importers in Europe, which import more than one ton of ingredients and chemicals for personal care products, are obliged to register them with the EU's Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) regulation central authority. Chemicals and ingredients used in personal care products that are not registered cannot be used in the EU unless they are exempt. Such stringent laws relating to the assessment of personal care products and the mandatory registration of chemicals used in the products act as an entry barrier for potential vendors in the global personal care chemicals market and pose a challenge for potential and existing market players in the market. Such challenges can hamper the growth of the market during the forecast period.
This personal care chemicals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global personal care chemicals market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the personal care chemicals market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the personal care chemicals market encompasses successful business strategies deployed by the key vendors. The personal care chemicals market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The personal care chemicals market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the personal care chemicals market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
44% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for personal care chemicals in APAC. Market growth in this region will be faster than the growth of the market in North America and South America.
The increasing consumption of cosmetic products by millennials will facilitate the personal care chemicals market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic had a negative impact on the regional personal care chemicals market. However, due to the availability of COVID-19 vaccines, there was a decline in the number of COVID-19 cases in the region. Thus, the COVID-19 restrictions were lifted, which led to the reopening of factories and warehouses of vendors. These factors will drive the regional personal care chemicals market growth during the forecast period.
To gain further insights on the market contribution of various segments Request for a FREE sample
The personal care chemicals market share growth in the skincare segment will be significant during the forecast period. Skincare products include serum, toners, and others. These products aim at providing cleansing and protection to the skin from external factors. Personal care chemicals are used in skin care products as emulsifiers, emollients, opacifiers, softeners, and others. These applications have led to their increased use in the personal care industry in a wide range of applications. Such increasing use of skin care products will drive the personal care chemicals market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the personal care chemicals market size and actionable market insights on the post-COVID-19 impact on each segment.
Personal Care Chemicals Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.23% |
Market growth 2022-2026 |
$ 28.28 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.67 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Ashland Global Holdings Inc., BASF SE, Berkshire Hathaway Inc., Clariant International Ltd., Corbion NV, Croda International Plc, Galaxy Surfactants Ltd., Huntsman International LLC, Innospec Inc., Lonza Group Ltd., Merck KGaA, Nouryon Chemicals Holding BV, RAG-Stiftung, Sasol Ltd., Solvay SA, Stepan Co., The Dow Chemical Co., and Wacker Chemie AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.