Personal Care Ingredients Global Market Report 2021: COVID-19 Growth And Change

The Business Research Company’s Personal Care Ingredients Global Market Report 2021: COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, June 3, 2021 /EINPresswire.com/ -- Key companies functioning in the market are focusing on new product innovations to meet the demand of the consumers and benefit the users while maximizing revenues. For instance, in January 2019, Symrise AG, Germany-based cosmetic ingredients company, introduced the first benzyl alcohol-based preservative blend with the added power of SymSave H, SymOcide BHO. The product protects cosmetics from undesired microorganisms such as fungi and bacteria. The product also contains the multifunctional ingredients Hydrolite CG, an emollient, and SymSave H, an antioxidant. In another 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. Such personal care products industry trends help boost the personal care market.

In June 2020, Givaudan, a Switzerland-based manufacturer of fragrances, flavors, and active cosmetic ingredients acquired Indena's cosmetics business for an undisclosed amount. The acquisition will expand the capabilities of Givaudann’s active beauty business with Indena’s commitment to continue manufacturing ingredients for Givaudan and to provide innovation capabilities and other supporting services to the company. Indena is an Italy-based company engaged in the development, identification, and production of high-quality active ingredients derived from plants, for use in the health food, pharmaceutical, and personal care industries.

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The global personal care ingredients market is expected to grow from $12.20 billion in 2020 to $12.78 billion in 2021 at a compound annual growth rate (CAGR) of 4.81%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenge in the forecast period can be attributed to growing demand for personal care products and rise in disposable incomes. The personal care ingredients market is expected to reach $15.63 billion in 2025 at a CAGR of 5.16%.

North America was the largest region in the personal care ingredients market in 2020. Europe was the second largest market in personal care ingredients market. The regions covered in the personal care ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Major players in the personal care ingredients market are BASF SE, Ashland, Solvay, Dow, Clariant, Croda International Plc, Evonik Industries AG, J.M. Huber Corporation, Solvay S.A, Huntsman International LLC, The Lubrizol Corporation, Akzo Nobel N.V, Pharmacos, Nouryon, Lonza, Berkshire Hathaway Inc, KCC Corporation, Galaxy Surfactants, Oxiteno, Eastman Chemical Company, SABIC, Symrise, Sinerga S.p.A., SG Ceresco Inc, PRIDE SEEDS, Grain Millers Inc, Innospec, AEP Colloids, and Jarrow Formulas Inc.

The global personal care ingredients market is segmented by ingredients into emollients, surfactants, emulsifiers, rheology modifiers, conditioning polymers, others, by source into natural ingredients, synthetic ingredients, and by application into skin care, hair care, oral care, cosmetics, others.

Personal Care Ingredients Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides personal care ingredients market overview, forecast personal care ingredients market size and growth for the whole market, personal care ingredients market segments, and geographies, personal care ingredients market trends, personal care ingredients market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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