Based on Fact.MR’s current released report on active ingredients, the global market is anticipated to be worth US$ 1.9 billion by the end of 2022, with a CAGR of 5.1% from 2022 to 2032. Personal care active ingredients have seen tremendous growth and demand from consumers post pandemic as people are adopting more natural approach for a spectrum of skin concerns.
The annual increase in the sales of Personal care active ingredients in the U.S. has been steady and perennial. The key factor impacting the marketplace is a government regulation- the Food Safety and Modernization Act (FSMA), under requirements of DSHEA, and other laws, especially in the area of Good Manufacturing Practice (GMP) regulations and quality control.
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With the market growing at a notable pace, many cosmetic brands are coming forefront to significantly use active ingredients for various skin problems. These ingredients helps to enhance beauty, cure ailments, to speed up collagen production for younger looking skin and provides anti-aging solutions. Some of the widely used active ingredients in cosmetic industry includes– niacin amide, vitamin C, retinol, hyaluronic acid, ceramides, and salicylic acid. Demand for Active ingredients is set to rise in the future and set to reach US$ 3.2 billion by 2032.
Upshots from Market Study
- By product type, botanical extracts will be having the largest market share in the year 2022
- By product category, anti-aging and anti-acne segment is projected to grow at a CAGR of 1% and 4.9% during 2022-2032.
- By nature, organic segment will be having dominant share in overall demand creation for personal care products in the future.
- North America is poised to hold around 2% of the global active ingredients market in the year 2022.
- Europe is the second largest market for active ingredients based product and is bound to rise at noticeable CAGR during the forecast years of 2022-2032.
“North America is the largest consumer of active ingredients with the growing demand from various end-use verticals especially from the cosmetic industry,”– says a Fact.MR analyst
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Segmentation of Personal Care Active Ingredients market
PCAI By type :
- Botanical Extracts
- Enzymes & Coenzymes
- Proteins & Peptides
- Amino Acid
- Quat & Native Proteins
- Synthetic Peptides
- Synthetic Actives
- Vitamin A and Derivatives
- Vitamin B and Derivatives
- Vitamin C and Derivatives
- Vitamin E and Derivatives
- Salicylic Acid
- Glycolic Acid
- Biotechnology Products
- Hyaluronic Acid
- Marine Ingredients
- Substantiated Algae Extra
PCAI By Product category :
- Skin Lightening
- Sun Care
- Hair Care
- PCAI By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
Market Improvements and expansion
The major players operating in the personal care active ingredients market are BASF SE, Evonik Industries, Clariant SA, Givaudan, Symrise AG, and Croda International plc.
Merger and acquisitions, product launches, joint ventures, and other collaborations are some of the key strategies embraced by players. Digitalization and long-term trade relations with suppliers and distributors to support revenue growth even in the unfavourable market scenario.
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