Global Personal Care Chemicals Market Overview
The Personal Care Chemicals Market Size was estimated at 15.38 (USD Billion) in 2022.The Personal Care Chemicals Industry is expected to grow from 16.19(USD Billion) in 2023 to 25.6 (USD Billion) by 2032. The Personal Care Chemicals Market CAGR (growth rate) is expected to be around 5.23% during the forecast period (2024 - 2032).
Key Personal Care Chemicals Market Trends Highlighted
Among the potential market drivers for personal care chemicals are rising disposable incomes, increased consumers’ demand for natural and sustainable products, and awareness of personal hygiene. Besides, market growth is driven by the shift towards e-commerce platforms that provide convenient access to a wide range of personal care products.
Opportunities in this market include the development of innovative and functional ingredients that cater to specific consumer needs, such as anti-aging, skin brightening, and hair growth. On top of it all, the growing popularity of personalized beauty products also presents opportunities for manufacturers to tailor their offerings to individual preferences.
Recent trends in the personal care chemicals market have seen an increase in plant-based and biodegradable ingredients usage and the adoption of nanotechnology and biotechnology, amongst others. Moreover, there is a boom in demand for items addressing acne, hair loss, eczema, etc., due to the specific skin and hair problems customers face.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Personal Care Chemicals Market Drivers
Rising Demand for Natural and Organic Personal Care Products
The increasing consciousness of the negative impacts of artificial chemicals on human health and the ecosystem is forcing the natural and organic personal care products market. People are now pursuing paraben, phthalates, and other harmful substances-free products. This pattern is projected to proceed over the next years as a growing number of customers learn about the advantages of using natural and organic personal care items. The global personal care chemicals market industry is expected to notice a remarkable growth in the demand for natural and organic personal care products, driven by increasing consumer awareness regarding synthetic chemical hazards to health and the environment.
Increasing Disposable Income and Changing Lifestyles
The market for personal care chemicals is also growing due to increasing disposable income and changing lifestyles in emerging countries. The increased wealth of people results in higher spending on grooming products. This trend will continue going forward as more people join the middle class. Consequently, developing countries are expected to have a significant influence on the global personal care chemicals industry due to rising disposable incomes and changing consumer preferences towards personal care products that are becoming more sophisticated, given the high prevalence of lifestyle-related diseases.
Growing Popularity of Online Shopping
The personal care chemicals market is also enjoying the benefits of increasing online shopping. Due to the ease and variety of products available, more and more consumers are opting for online shopping in favor of personal care products. The trend is projected to persist in the upcoming years as more customers adapt to online purchases of personal care items. Online sales have surged across the global personal care chemical industry due to the e-commerce platform’s growing popularity and the convenience it provides for consumers.
Personal Care Chemicals Market Segment Insights:
Personal Care Chemicals Market Product Type Insights
The Global Personal Care Chemicals Market segmentation by product type provides an extensive analysis of various product categories present in the market. Skin care, hair care, cosmetics, fragrances, oral care, deodorants, antiperspirants, and toiletries are the major product types discussed in this segment. The revenue from Skin Care constitutes a significant part of the Global Personal Care Chemicals Market due to the increasing demand for anti-aging products, moisturizers, and sun protection products. Moreover, people are more aware of their skin, and the popularity of natural skincare solutions is expected to increase further.
Besides shampoos, conditioners, and hair styling products make up a large portion of hair care items available in the industry today. This can be attributed to increased attention to hair health as well as more people using hair colorants and other types of styling tools. Cosmetics, also known as makeup, along with nail care and eye care products, have steady development emanating from social media influence, leading to a desire for a better appearance. Equally the introduction of innovative cosmetics that are multi-purpose has seen this segment grow.
Fragrances such as perfumes, colognes, and body mists represent a small but crucial category within the Global Personal Care Chemicals Market. This is because they evoke emotions and create sensory feelings. On another note, oral care that involves toothpaste, mouthwash flossing, and flossing plays an important role in ensuring oral hygiene is maintained. There is a growing emphasis on dental health arising from increased access to sophisticated oral care solutions. The importance of Deodorants Antiperspirants cannot be gainsaid since these personal care aids fight body odors plus check excessive sweating.
The deodorant segment growth is mostly attributed to soaring demand for efficient deodorant brands, particularly coming from emerging markets worldwide. Toiletries comprising soaps, shower gels, and body lotions constitute primary requirements for daily personal grooming routines. Increasing emphasis on cleanliness combined with a rise in sales of high-end and eco-friendly toiletries is responsible for the growth in this segment. In conclusion, Global Personal Care Chemicals Market segmentation by product type reveals different categories of products that drive market expansion. The significance of knowing each category’s opportunities and challenges cannot be overemphasized, as it provides a basis for market players in choosing their strategic options.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Personal Care Chemicals Market Application Insights
The Global Personal Care Chemicals Market’s application segment has a key role in shaping the industry’s future trajectory. They all contribute to the market’s revenue generation through personal hygiene, hair styling, skin treatment, makeup, fragrance enhancement, and oral hygiene. In 2023, there was a dominant market share of the personal hygiene segment, which accounted for a good portion of the market due to the increasing consumer awareness of personal cleanliness and hygiene practices. The hair styling industry is expected to grow at a moderate rate during the forecast period because of an increase in demand for hair care products and styling solutions.
Skin treatment, makeup, and fragrance enhancement segments are projected to have positive growth rates as consumers become more conscious about their appearance and go for products that can enhance their beauty and well-being. It is predicted that the oral hygiene segment will follow a consistent line of development, given its increased focus on dental health and maintenance. Generally speaking, the application segment shows different end-use industries that demand personal care chemicals, thus helping manufacturers adjust their product offerings accordingly.
Personal Care Chemicals Market End-Use Sector Insights
The End-Use Sector segment assumes a key role in the global Personal Care Chemicals Market, which shapes market dynamics and drives its growth. Key end-use sectors include home care, retail, salons, spas, beauty institutes, and hospitals and clinics, each of which has distinct characteristics and growth prospects. Home Care has a large share of the market due to an increase in demand for household cleaning products and personal hygiene goods. Increased consumer knowledge on health issues as well as hygiene is the prime driver of this sector’s growth. Retail is another important segment that benefits from the high availability of personal care products through various channels, including supermarkets, pharmacies, and online retailers.
Salons, Spas, and Beauty Institutes have evolved to meet the increasing demand for professional beauty treatments & services. These establishments employ personal care chemicals in their processes, thereby increasing their segment. Hospital clinics also represent a major sector since they use personal care chemicals for purposes such as patient care, disinfection & sterilization. In general, the End-Use Sector segment is projected to continue expanding in the future, attracted by rising consumer expenditure, higher disposable incomes, and changing lifestyles.
Market players are heavily investing in research & development (R&D) projects aimed at serving these end-use sectors’ shifting needs, thus driving market growth.
Personal Care Chemicals Market Regional Insights
The regional segmentation of the Global Personal Care Chemicals Market offers valuable insights into the market's geographic distribution and growth dynamics. North America held the largest market share in 2023, accounting for approximately 40% of the global revenue. The region's mature personal care industry, high disposable income, and increasing demand for premium personal care products contribute to its dominance. Europe follows closely with a significant market share, driven by the presence of well-established personal care companies, a large consumer base, and stringent regulatory standards.The Asia-Pacific (APAC) region is expected to witness the highest growth rate during the forecast period, owing to the rising disposable income, growing population, and increasing urbanization in countries like China, India, and Southeast Asia. South America, the Middle East, and Africa (MEA) regions are also expected to contribute to the overall market growth, albeit at a slower pace than APAC. These regions have untapped potential due to the growing middle class, increasing consumer awareness, and the expansion of distribution channels.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Personal Care Chemicals Market Key Players And Competitive Insights:
Major players in the personal care chemicals market are focusing on expanding their global presence by investing in new manufacturing facilities. For instance, BASF SE announced plans to invest around €1 billion to build a new world-scale facility in Zhanjiang, China, to produce the active ingredient for vitamin A. Leading Personal Care Chemicals Market players are also actively engaged in mergers and acquisitions to strengthen their product portfolios and market position. A notable example is the acquisition of Ashland Inc.'s personal care business by Croda International Plc. in 2021. Additionally, the development of the personal care chemicals market is driven by the increasing adoption of natural and organic ingredients in personal care products.A prominent player in the Personal Care Chemicals Market, Evonik Industries AG has a strong focus on innovation and sustainability. The company invests heavily in research and development to create innovative personal care ingredients that meet evolving consumer demands. Evonik has a wide product portfolio catering to various personal care applications, including skin care, hair care, and color cosmetics. It is also actively involved in promoting sustainability initiatives throughout its operations. The company has set ambitious sustainability goals and is committed to reducing its environmental footprint by improving energy efficiency and using renewable resources.Dow, another leading player in the personal care chemicals market, has a global presence and manufacturing facilities in various regions. The company offers a diverse range of personal care ingredients, including surfactants, polymers, and emollients. Dow is known for its customer-centric approach and provides technical support to help customers develop and optimize their personal care formulations. Moreover, the company has a strong focus on sustainability and is working to reduce its greenhouse gas emissions and promote responsible sourcing of raw materials.
Key Companies in the Personal Care Chemicals Market Include:
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Clariant
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The Dow Chemical Company
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Ashland Inc
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BASF SE
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Solvay S.A.
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Unilever Plc
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Procter Gamble Company
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Estée Lauder Companies
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The Lubrizol Corporation
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L'Oréal S.A.
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Croda International Plc
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Evonik Industries AG
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Kao Corporation
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Johnson Johnson
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Shiseido Company
Personal Care Chemicals Market Industry Developments
The Personal Care Chemicals Market is projected to reach USD 25.6 billion by 2032, exhibiting a CAGR of 5.23% during the forecast period. Rising consumer awareness about personal hygiene and grooming, coupled with increasing disposable income, is driving market growth. The increasing popularity of natural and organic personal care products is also contributing to the market's expansion.Recent developments include the launch of new products by key players such as Unilever and Procter Gamble, incorporating sustainable and eco-friendly ingredients. Additionally, the growing trend of e-commerce is providing new avenues for market participants to reach consumers, particularly in emerging markets.
Personal Care Chemicals Market Segmentation Insights
Personal Care Chemicals Market Product Type Outlook
Personal Care Chemicals Market Application Outlook
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Personal Hygiene
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Hair Styling
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Skin Treatment
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Make-up
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Fragrance Enhancement
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Oral Hygiene
Personal Care Chemicals Market End-Use Sector Outlook
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Home Care
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Retail
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Salons Spas
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Beauty Institutes
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Hospitals Clinics
Personal Care Chemicals Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
Personal Care Chemicals Market Report Scope
| Report Attribute/Metric |
Details |
| Market Size 2022 |
15.38(USD Billion) |
| Market Size 2023 |
16.19(USD Billion) |
| Market Size 2032 |
25.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.23% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Clariant, The Dow Chemical Company, Ashland Inc, BASF SE, Solvay S.A., Unilever Plc, Procter & Gamble Company, Estée Lauder Companies, The Lubrizol Corporation, L'Oréal S.A., Croda International Plc, Evonik Industries AG, Kao Corporation, Johnson & Johnson, Shiseido Company |
| Segments Covered |
Product Type, Application, End-Use Sector, Regional |
| Key Market Opportunities |
Increasing demand for natural and organic personal care productsGrowing millennial and Gen Z consumer baseRising consumer disposable incomeExpansion into emerging marketsTechnological advancements in product formulation |
| Key Market Dynamics |
Increasing demand for natural and organic personal care productsGrowing popularity of e-commerce channelsRising consumer awareness about the importance of personal careTechnological advancements in product formulationsExpansion into emerging markets |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Personal Care Chemicals Market is expected to reach a valuation of USD 25.6 Billion by 2032, exhibiting a CAGR of 5.23% during the forecast period (2023-2032).
Asia-Pacific is projected to dominate the Global Personal Care Chemicals Market throughout the forecast period. The region's vast population, rising disposable income, and increasing awareness regarding personal care and hygiene are major factors driving its market growth.
The hair care segment is anticipated to register the highest growth rate in the Global Personal Care Chemicals Market during the forecast period. The growing popularity of hair styling products, hair colorants, and hair care treatments is fueling the demand for personal care chemicals in this segment.
Key players in the Global Personal Care Chemicals Market include BASF SE, The Dow Chemical Company, Clariant AG, Croda International Plc, Ashland Global Holdings Inc., Solvay SA, Evonik Industries AG, Kao Corporation, and Lonza Group.
Increasing consumer spending on personal care products, rising disposable income, growing awareness about personal hygiene, and the introduction of innovative personal care products are the primary growth drivers of the Global Personal Care Chemicals Market.
Stringent government regulations regarding the use of certain chemicals in personal care products, concerns over the safety of synthetic chemicals, and the availability of natural and organic alternatives pose challenges to the growth of the Global Personal Care Chemicals Market.
Sustainability and eco-friendliness are emerging trends in the Global Personal Care Chemicals Market. Consumers are increasingly seeking personal care products made with natural and biodegradable ingredients, driving the demand for plant-based and bio-based chemicals in the industry.
The COVID-19 pandemic had a mixed impact on the Global Personal Care Chemicals Market. While the demand for certain personal care products, such as hand sanitizers and disinfectants, surged, other segments, such as cosmetics and fragrances, experienced a decline due to lockdowns and social distancing measures.
The Global Personal Care Chemicals Market is projected to continue its growth trajectory in the coming years. Rising consumer awareness about personal care and hygiene, increasing disposable income, and the launch of innovative products are expected to drive market growth in the long term.
Key players in the Global Personal Care Chemicals Market are focusing on strategies such as product innovation, expansion into emerging markets, acquisitions, and partnerships to strengthen their market position and drive growth.
