Personal Care Services Global Market Report 2023

The Personal Care Ingredients Global Market Report 2023 by The Business Research Company, provides personal care ingredients market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Personal Care Ingredients Global Market Report 2023, the global personal care ingredients market size grew from $14.06 billion in 2022 to $15.15 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global personal care ingredients is expected to grow to $19.94 billion in 2027 at a CAGR of 7.1%.

The increasing young population would contribute to the demand for personal care ingredients market in the forecast period. The growing desire to look good and presentable drives the demand for personal care products for the increasing youth population.

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The personal care ingredients market is segmented:

1) By Ingredients: Emollients, Surfactants, Emulsifiers, Rheology Modifiers, Conditioning Polymers, Other Ingredients

2) By Source: Natural Ingredients, Synthetic Ingredients

3) By Application: Skin Care, Hair Care, Oral Care, Cosmetics, Other Applications

Key companies functioning in the market are focusing on new product innovations to meet the demand of the consumers and benefit the users while maximize revenues. For instance, in 2020, Germany based chemicals company, BASF SE partnered with Netherlands based Isobionics to launch Santalol, an alternative to sandalwood oil, produced on a biotechnological basis from renewable raw materials. The new alternative prevents depletion of natural resources and is suitable for use in perfumes and other personal care products.

The personal care ingredients market report table of contents includes: