Market Size of Personal Care Chemicals Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 15.80 Billion |
| Market Size (2029) | USD 20.28 Billion |
| CAGR (2024 - 2029) | 5.11 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Personal Care Chemicals Market Analysis
The Personal Care Chemicals Market size is estimated at USD 15.80 billion in 2024, and is expected to reach USD 20.28 billion by 2029, growing at a CAGR of 5.11% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, there were nationwide lockdowns around the globe, disruptions in manufacturing activities and supply chains, production halts, and labor unavailability that negatively impacted the dyes and pigments market. However, conditions began to improve in 2021, likely restoring the market's growth trajectory during the forecast period. Cosmetics and personal care products are designed to cleanse, protect, and change the appearance of the external parts of an individual. There are more than thousands of different cosmetic products on the market currently, all with different combinations of ingredients to provide the desired effect required by the individual using the product.
- Long-term, the market is growing because more people are learning about beauty and skin care products and more people want products with active ingredients.
- On the other hand, strict government rules that limit the use of certain chemicals in cosmetics are likely to slow the growth of the market.
- In the future, the market is expected to benefit from the growing demand from customers for natural ingredients, which creates opportunities for technical innovation.
- Asia-Pacific dominated the market and may continue to do so during the forecast period.
Personal Care Chemicals Industry Segmentation
Personal care chemicals are products that are used in various homecare and personal care products. These chemicals are widely used for skincare, hair care, cleanliness, and hygiene, among others. The personal care chemicals portfolio includes ingredients such as emollients, preservatives, emulsifiers, mild surfactants, actives, pearlized, and many more. The personal care chemicals market is segmented by ingredients, application, and geography. By ingredients, the market is segmented into inactive ingredients and active ingredients. By application, the market is segmented into skin care, hair care, makeup, fragrances, oral care, and toiletries. The report also covers the market size and forecasts for the personal care chemicals market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).
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Personal Care Chemicals Market Size Summary
The personal care chemicals market is poised for significant growth, driven by increasing consumer awareness and demand for beauty and skincare products. The market is characterized by a diverse range of cosmetic products designed to enhance and protect the external appearance of individuals. The shift in consumer demographics, with a growing younger audience becoming more self-aware and proactive about skincare, is a key factor propelling market expansion. The Asia-Pacific region, particularly China and India, is expected to maintain its dominance due to rapid economic growth, increasing purchasing power, and a rising interest in personal care products. The market's growth trajectory is supported by the introduction of innovative products and the burgeoning demand for natural ingredients, although regulatory challenges regarding chemical usage in cosmetics may pose some constraints.
The skincare segment holds a substantial share of the personal care chemicals market, driven by the desire for an affluent lifestyle and the increasing purchasing power of urban households. The market has seen a proliferation of new brands, reflecting the robust demand for skincare products. The introduction of multifunctional and men's grooming products, particularly in China and India, further underscores the market's dynamic nature. Major industry players like Dow, BASF SE, and Evonik Industries AG are actively contributing to market innovation by launching new product lines tailored to evolving consumer needs. Despite the market's fragmentation, these developments indicate a promising outlook for the personal care chemicals industry over the forecast period.
Personal Care Chemicals Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Awareness of Beauty and Skin Care Products
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1.1.2 Increase in Demand for Products with Active Ingredients
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1.2 Restraints
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1.2.1 Stringent Government Regulations Limiting the Use of Certain Cosmetic Chemicals
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Ingredients
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2.1.1 Inactive Ingredients
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2.1.1.1 Surfactants
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2.1.1.2 Emulsifiers
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2.1.1.3 Emollients
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2.1.1.4 Colorants and Preservatives
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2.1.1.5 Rheology Control Agents
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2.1.1.6 Other Inactive Ingredients
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2.1.2 Active Ingredients
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2.1.2.1 Conditioning Agents
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2.1.2.2 UV Ingredients
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2.1.2.3 Anti-ageing
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2.1.2.4 Exfoliants
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2.1.2.5 Other Active Ingredients
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2.2 Application
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2.2.1 Skin Care
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2.2.2 Hair Care
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2.2.3 Makeup
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2.2.4 Fragrances
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2.2.5 Oral Care
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2.2.6 Toiletries
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Personal Care Chemicals Market Size FAQs
How big is the Personal Care Chemicals Market?
The Personal Care Chemicals Market size is expected to reach USD 15.80 billion in 2024 and grow at a CAGR of 5.11% to reach USD 20.28 billion by 2029.
What is the current Personal Care Chemicals Market size?
In 2024, the Personal Care Chemicals Market size is expected to reach USD 15.80 billion.
