The Global Personal Care Specialty Ingredients Market is forecast to reach USD 22.00 Billion by 2027, according to a new report by Reports and Data. One of the major driving factors fostering the growth of the market is increasing expenditure on personal grooming, which is supported by growing per capita disposal income. It is also contributing to the growing demand for these specialty ingredients. There has also been an elevating awareness and understanding of the association between personal hygiene, personal care, and health in developing regions, which is also supporting the expansion of the sector in these regions. The expansion of the industry in these regions is also supported by healthy employment and growing GDP. The growing demand for multipurpose products is another mentionable factors supporting the growth of the sector. The COVID-19 pandemic is also acting as a propelling factor for the expansion of the market.
Products that sell quickly and at a low price are known as fast-moving consumer goods. Consumer packaged goods are another name for these items. Because of strong consumer demand (e.g., soft drinks and confections) or because they are perishable, FMCGs have a limited shelf life (e.g., meat, dairy products, and baked goods). These commodities are frequently acquired, quickly eaten, inexpensively priced, and marketed in big quantities. When they’re on the store shelf, they also have a high turnover.
- Nondurable consumer goods that sell quickly and for a low price are known as fast-moving consumer goods.
- Although fast moving consumer goods (FMCGs) have low profit margins, they account for more than half of all consumer expenditure.
- Milk, gum, fruit and vegetables, toilet paper, soda, beer, and over-the-counter medications like aspirin are examples of FMCGs.
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Further key findings from the report suggest:
- In context to Ingredient Type, the Formaldehyde segment held a significant market share of more than 15.0% in 2019. The market share held by the Formaldehyde segment is attributed to its wide arena of applications in personal care products ranging from soaps, lotions, shampoos, among others, which contributes to the market share held by this segment. The main reason for using this ingredient is providing protection to the product from contamination of bacteria during its continued use and storage.
- In context to Product, the Inactive product segment held a considerable share of the market of more than 60.0% in 2019. The market share held by the Inactive product segment is attributed to the effectiveness of the product in developing the benefits of individual elements of cosmetic formulations, which results in its high demand among end-users, contributing to the market share held by this segment.
- In context to End-use, the Skincare segment held a considerable share of the market of more than 35.0% in 2019. Skincare products usually include moisturizers, lotions, and creams, among others. The market share held by the Skincare segment is attributed to growing demand skin beautifying products, which comprises of properties like skin smoothening, brightening and soothing properties that are contributing to the market share held by this segment.
- In May 2020, BASF announced the initiation of its functioning in South Carolina, wherein it is emphasizing on manufacturing opacifiers and pearlizers. The blend is essential ingredients for opacity or shimmering effect in personal care products like shampoos, soaps. With this expansion, the company could not only strengthening its industry positioning but it is also catering to the increasing demand for the specialty ingredients among end-users.
Unveiling the Personal Care Specialty Ingredients market trends with respect to the geographical frame of reference:
- The study is inclusive of a highly intrinsic study of the regional frame of reference of the Personal Care Specialty Ingredients market. The segment has been deeply analyzed, keeping in mind the vital aspects, and has been segmented into North America, Europe, Asia-Pacific, South America & Middle East and Africa.
- Pivotal insights subject to the sales accrued by each region and the procured market share have been enlisted in the report.
- The growth rate to be registered as well as the remuneration accrued by each region over the forecast period have been included within the report.
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Some of the other important pointers highlighted in the study have been listed underneath:
- The report comprises a detailed analysis of the competitive spectrum of the Personal Care Specialty Ingredients market, that basically is inclusive of companies such as BASF SE, Vantage Specialty Ingredients, Inolex, Ashland, Inc., Naturex, Adina Cosmetic Ingredients, Cosmetic Ingredients (Pty) Ltd., Avenir Ingredients, Treatt and Akott.
- It encompasses a generic overview of all the vendors, manufactured products, as well as the product application scope.
- The study provides information about the present scenario, status of the companies in the industry, the sales procured by the firms, as well as their market share in the industry.
- The firm’s profit margins and the price models have also been explained.
- The type spectrum of Personal Care Specialty Ingredients market, that is subdivided amongst Glycerols, Formaldehyde, Isopropyls, Dimethicone, Alcohols, Titanium Dioxide, Sodium Lauryl Sulphate, has been elaborated on, in the report. It also mentions the market share that each type segment holds in the industry.
- The report elaborates on details pertaining to the sales accrued by the products as well as the share they will account for by the end of the estimation period.
- The application spectrum of the industry has been mentioned in the report. It includes the applications such as Hair Care, Skin Care, Make-Up, Oral Care, as well as the market share obtained by every application.
- The sales estimate and the revenue these applications will hold during the anticipated period are also contained within the report.
- The report provides information on vital parameters such as market concentration rate and competition trends.
- Detailed information pertaining to the direct and indirect sales marketing channels chosen by producers to market their products have been highlighted in the report.
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The report on the Personal Care Specialty Ingredients market, that is projected to accumulate quite some returns by the end of the estimated duration, is also inclusive of other vital parameters such as the market dynamics. These include information about the challenges prevailing in this industry, main factors driving the industry outlook, and the numerous growth opportunities in this vertical.
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