Happi Staff09.17.20
According to Frost & Sullivan's recent analysis, Transformative Mega Trends Driving the Global Personal Care Active Ingredients Market, 2020, the personal care active ingredients market is expected to reach $4.85 billion by 2025 from $3.9 billion in 2019, at a compound annual growth rate (CAGR) of 3.7%. Growth is being driven by rising disposable income, increasing demand for clean and sustainable ingredients, and expanding online and offline distribution channels for personal care products.
The COVID-19 pandemic has adversely impacted the market as the demand for personal care products such as makeup, perfumes, moisturizers, and sunscreens declined during the global lockdown. However, the increasing popularity of beauty and cosmetic products among male consumers strengthens the demand for active ingredients. The shift in consumer behavior across the globe is propelling personal care companies toward manufacturing organic, plant-based and multifunctional products, said Frost & Sullivan.
"Consumers are becoming more aware of the importance of hydrating, moisturizing, and anti-aging ingredients in their care products; thus, companies must invest in research and development (R&D) and innovate to meet consumers' requirements," said Prateeksha Kaul, chemicals, materials and foods research analyst at Frost & Sullivan. "Anti-aging personal care products are expected to witness the highest growth of 6.5% between 2019 and 2025 due to the increasing aging population across the globe."
According to Kaul, with the trend of a minimalist beauty approach, the demand for ingredients with multifunctional benefits and properties is expected to increase.
In North America, higher disposable income in the region leads to growing demand for luxury cosmetics and skincare products. Moreover, sales via eCommerce are increasing, and companies must establish a strong online distribution channel.
In Asia-Pacific, the rising trend of gender-neutral products in APAC allows companies to expand their user base among female and male consumers. Also, the level of consumer awareness of personal care is spreading in this region, propelling the demand for active ingredients in beauty and skincare products.
In Europe, companies are leading in terms of R&D and innovation in the personal care active ingredients market. Although the COVID-19 outbreak has caused consumers to restrict their spending on personal care products, the demand is likely to bounce back after the outbreak subsides.
You can read more about active ingredients in beauty here.
The COVID-19 pandemic has adversely impacted the market as the demand for personal care products such as makeup, perfumes, moisturizers, and sunscreens declined during the global lockdown. However, the increasing popularity of beauty and cosmetic products among male consumers strengthens the demand for active ingredients. The shift in consumer behavior across the globe is propelling personal care companies toward manufacturing organic, plant-based and multifunctional products, said Frost & Sullivan.
"Consumers are becoming more aware of the importance of hydrating, moisturizing, and anti-aging ingredients in their care products; thus, companies must invest in research and development (R&D) and innovate to meet consumers' requirements," said Prateeksha Kaul, chemicals, materials and foods research analyst at Frost & Sullivan. "Anti-aging personal care products are expected to witness the highest growth of 6.5% between 2019 and 2025 due to the increasing aging population across the globe."
According to Kaul, with the trend of a minimalist beauty approach, the demand for ingredients with multifunctional benefits and properties is expected to increase.
In North America, higher disposable income in the region leads to growing demand for luxury cosmetics and skincare products. Moreover, sales via eCommerce are increasing, and companies must establish a strong online distribution channel.
In Asia-Pacific, the rising trend of gender-neutral products in APAC allows companies to expand their user base among female and male consumers. Also, the level of consumer awareness of personal care is spreading in this region, propelling the demand for active ingredients in beauty and skincare products.
In Europe, companies are leading in terms of R&D and innovation in the personal care active ingredients market. Although the COVID-19 outbreak has caused consumers to restrict their spending on personal care products, the demand is likely to bounce back after the outbreak subsides.
You can read more about active ingredients in beauty here.