Transformative Mega Trends Driving the Global Personal Care Active Ingredients Market, 2020

William Arsn

NEW YORK, Sept. 2, 2020 /PRNewswire/ — Active ingredients are added in personal care and cosmetic products to enhance their functional properties. Active ingredients fulfill anti-aging, exfoliation, sun protection, moisturizing, antimicrobial, and other functions (e.g., skin lightening). They are utilized in various skincare products such as facial and body creams, lotions, masks, and other formulations. Factors Impacting Growth: With increasing concern over the use of certain chemicals, for example phthalates, consumers have shifted their preference to products with natural and safer ingredients. Improving economic standards, increasing share of working women, and growing consumer awareness regarding grooming are likely to drive the growth of personal care active ingredients.New Trends: The male grooming industry is exploding, with numerous products entering the market every year. However, the trend is in a nascent stage, especially in countries such as India, where the beauty industry is always synonymous with women. Hence, the demand for male grooming products is expected to sustain for long, signifying a strong demand for active ingredients from the segment. Moreover, the availability of multiple distribution channels has not only helped consumers get easy access to their brand of choice but has also assisted the brand in increasing its user base. The current pandemic scenario has further strengthened the trend and importance of online buying. This will have a positive impact on new distribution channels on the cosmetic and active ingredients industry in the long run.Factors Restricting the Demand: Although, most current consumers purchase products with an expectation of quick and visible change, it is important for cosmetic product manufacturing companies to ensure that the claims are legitimate, else, it could impact cosmetic products and active ingredients significantly.Shift to Plant-based Products: Most companies are making a shift to plant-based active ingredients to capture the changing dynamics of the market. As stated in ‘Ingredient Trends in the Personal Care and Cosmetics Industry 2020’ the market has witnessed a 30{5667a53774e7bc9e4190cccc01624aae270829869c681dac1da167613dca7d05} increase in products made from plant-based extracts. For instance, ‘Beaute? by Roquette®’ includes a wide range of plant-based solutions by Roquette that are used across cosmetic products, including moisturizers, emulsifiers, sunscreens, and emollients.Market Discussion: In terms of ingredients, the anti-aging segment is expected to witness the highest growth of 6.5{5667a53774e7bc9e4190cccc01624aae270829869c681dac1da167613dca7d05} from 2019 to 2025 on account of the growing aging population globally. Regionally, Asia-Pacific will register the highest growth of 4.6{5667a53774e7bc9e4190cccc01624aae270829869c681dac1da167613dca7d05} from 2019 to 2025 owing to increasing disposable incomes and an expanding customer base.Competitive Landscape: In 2019, the top-3 participants accounted for about 23.1{5667a53774e7bc9e4190cccc01624aae270829869c681dac1da167613dca7d05} of the global personal care active ingredients market. The competitive landscape of the global personal care ingredients market is highly fragmented. The market for active ingredients producers is growing and more than 100 companies are present in the market.
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