Published Date : Mar 14, 2017
Albany, New York, March 14, 2017: Driven by a consistent rise in personal grooming products, the global market for cosmetic ingredients is poised to expand at a 4.0% CAGR from 2017 to 2021, states a report added to MarketResearchReports.biz. This 70-page research study is titled “Global Cosmetic Ingredients Market 2017-2021” and offers accurate and the latest insights on what drives and hinders the market. Elaborating upon the rising demand for grooming products, the findings of the report show that an increasing interest shown by male consumers has emerged as the most significant trend in the personal care products industry of late.
The global market for cosmetic ingredients covers three main regions: Asia Pacific, the Americas, and Europe, the Middle East, and Africa. The Americas form the largest market for cosmetic ingredients in the world and the report finds that the region will continue its lead through 2021, fueled by growing consumer awareness regarding the availability of various personal care products and the key ingredients that go into them. The focus on personal hygiene has always been high in this region and this has resulted in an increased demand for personal care products. This, in turn, has led to a spike in the demand for cosmetic ingredients. The emergence of cosmeceuticals is a trend that is likely to greatly benefit the America cosmetic ingredients market.
Cosmetic ingredients are of various types, such as single use additives, surfactants, emollients, moisturizers, and film formers, thickening agents, and powders, carriers, and colorants. Among these, the segment comprising moisturizers, film formers, and emollients dominated the cosmetic ingredients market in 2016 thanks to the soaring demand for anti-aging products.
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The key applications of cosmetic ingredients are color cosmetics, hair care and skin care, and fragrances and perfumes. Hair care and skin care hold the largest share in the overall market in terms of application and this segment is projected to continue its dominance over the course of the forecast period. The segment owes its success to the evolving fashion preferences of the consumers in terms of skin care and hair care products.
Some of the leading vendors in the global cosmetic ingredients market are Ashland, AkzoNobel, BASF, Evonik Industries, and Clariant. The highly fragmented market is also home to several other prominent players, including Emery Oleochemicals, Bayer, Pilot Chemical, FMC, Eastman Chemical, Croda International, Solvay, Active Organics, Procter & Gamble (P&G), and United-Guardian Incorporated.
The findings of the report show that owing to the presence of an increasing number of vendors, the degree of rivalry in the cosmetic ingredients market is slated to rise in the coming years. Companies have been finding new grounds to compete on, including price, quality, security of supply, product performance, and customer service. This high level of competition has also encouraged the development and launch of new and innovative ingredients.
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