A 10-year outlook of the personal care ingredients market

The global market share for personal care ingredients is expected to be at USD21,416.2 million by 2034, while it could reach a value of USD13,643.4 million in 2024.This is indicated in the report, Personal Care Ingredient Market Outlook from 2024 to 2034, authored by Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.

“The rising demand for personal care ingredients is significantly driven by consumer preferences for multifunctional, natural, and ethically sourced products. As the "clean beauty" movement gains momentum, transparency and eco-conscious formulations are becoming key growth factors in the industry,” says Kaitwade.

Among the trends mentioned in the report is the shift from chemical-based components to botanical extracts due to more new product formulations, R&D activities, and nascent consumer awareness about combinations of botanicals and other active ingredients.

The following contribute to market growth in personal care ingredients:

1. Demand for organic and natural ingredients for personal care in supplements, cosmetics, and consumables
2. Expanding men's segment for personal care with the gender-neutral fashion trends
3. Higher sales of skincare products with anti-aging and anti-fungal properties, and the application of skin conditioning agents
4. Consumer awareness of the importance of skincare especially against pollution

Influences on the market dynamics during the forecast period:

1. New innovative products with higher natural and organic ingredients, no side effects, and chemicals.
2. The accessibility of e-commerce platforms and higher production of hair care and skin care products are also garnering attention from the market.
3. Higher potential can be seen in emerging economies and rapid growth in multifunctional personal care applications, with social media channels influencing the end users. These personal care ingredients include surfactants, modifiers, emulsifiers, emollients, rheology, etc.

More information is available at https://www.futuremarketinsights.com/reports/cosmetic-ingredients-market