Personal Care Products Market Statistics, Demand, Trend Analysis, Segmentation and Forecast To 2031
Personal care products are a vast industry to enhance people's self-esteem and appearance. Products for cleanliness, personal care, and beauty are produced and sold by the industry. Personal care items include everything from toothpaste, soaps, shaving cream, sunscreen, face cream, and razors to all other products that are closely connected. People today are more conscious of their personal care. Thus, the market is growing positively and is likely to continue doing so in the forecast years.
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Market Dynamics
The market will grow during the forecast period due in large part to the growing significance of social appearance, the positive effects that beauty and personal care have on self-esteem, and a gradual consumer shift toward luxury and premium cosmetic brands.
Demand for Personal Hygiene Products with Customization
A recent development in the personal care products market is the rise in demand for individualized grooming products. Customers have a wide range of aesthetic and hygienic needs; therefore, businesses must innovate with new products to stay competitive. Because of this, involving consumers in the design and production of beauty care products makes it possible to serve the market more effectively. Although the high cost of customized products presents a challenge, growing consumer spending power and a shift in the emphasis on personal hygiene are fostering the trend of customized grooming, which will ultimately benefit the personal care industry as a whole.
The Demand for Organic Products
People are becoming more aware of beauty products, and as a result, they favor organic goods over those made of chemicals. Due to market demand and technical improvements, key industry participants are creating a number of new product lines with a variety of flavors and essences. As a result, the market expands.
For instance, India's leading organic personal care company, Organic Harvest, introduced a variety of certified organic serum-based masks in 2019 that featured anti-wrinkle and anti-acne varieties. This assisted the business in growing its clientele
In order to provide eco-friendly and healthful beauty products, SO'BiO étic, a socially conscious French beauty brand, introduced its organic beauty line in the United States in June 2021. Parabens, glycol, nanoparticles, silicones, PEG, and chemical filters don't exist in the company's goods.
Restraint Factors
However, managing the logistics for cosmetics takes a great deal of knowledge in a number of areas, such as handling huge quantities of the product correctly, keeping it at the proper temperature, navigating licensing, and providing goods at a reasonable price. Therefore, these obstacles prevent the market for personal care products from expanding.
Segmentation Summary
Product Analysis
In 2021, the skin care segment dominated the global personal care products industry. This can be attributed to the increased demand for cosmetics made with natural and organic ingredients, including fruit extracts, plant extracts, and herbs. Numerous advantages and purposes of skin care products include skin renewal and protection, wrinkle and aging-related treatment, lowering acne and lightning spot incidence, and maintaining healthy and youthful skin. These advantages keep the skincare market growing.
On the other hand, the haircare segment will project the highest annual growth rate during 2021-2027. Numerous hair issues, including split ends, frizzy hair, dandruff, hair loss, and dry or itchy scalp, can be resolved using haircare products. Over the projection period, segment expansion will be fueled by the presence of a wide variety of hair care products, including conditioners, shampoo, hair gel, hair serum, hair wax, hair oil, and hair colorants, in different formats and for diverse client requirements.
Ingredient Analysis
The rheology modifiers segment will lead the global personal care products industry in the upcoming years as rheology modifiers are utilized to make the formulation viscous while barely affecting its performance.
Regional Insights
Due to the region's wealthy customers and the rising demand for natural cosmetics, Europe holds the largest market share. The personal care products market in Europe is growing by consumers' increasing interest in cosmetics made with organic ingredients, particularly in Germany, the United Kingdom, and France.
Due to the region's continuously expanding population and shifting consumer lifestyles, the Asia-Pacific personal care products market will likely become a significant player in the global economy. The rapid expansion is also due to the rising number of working-class women in the region, who are interested in acquiring high-end cosmetics and cutting-edge personal care items. In addition, the smart youthful population in Asia Pacific countries will create enormous chances for the regional market.
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Prominent Competitors
Some of the leading companies in the global personal care products market are:
Unilever
Avon Products
Proctor & Gamble Company
Colgate-Palmolive Company
L’Oréal Paris
Johnson & Johnson
Helen of Troy Ltd.
Godrej Industries Ltd.
Other Prominent Players
Key Strategies Adopted by these Players
In November 2021, Shiseido, the top cosmetics producer on the market, revealed, Inryu an edible beauty brand that aims to improve skin health from the inside.
In Aug 2020, in order to quadruple the output of Uvinul A Plus, a component used to protect against UVA, BASF SE established a new production line at the Kaohsiung facility in Taiwan.
In November 2019, Kao Corporation developed a diffuser using Fine fiber technology to produce a multilayer, ultra-thin skincare solution. The business introduced this technology under the Kanebo and Kao brands SENSAI.
In 2019, Kylie Jenner and Coty Inc. established a long-term partnership to expand Kylie's current beauty company internationally.
Segmentation Outline
The global personal care products market segmentation focuses on Product, Ingredient, Type, Distribution Channel, and Region.
By Product
Hair Care Products
o Shampoo
o Conditioner
o Hair Gel
o Hair Oil
o Hair Colour
Skin Care Products
o Face Cream
o Anti-Aging Cream
o Sun Protection Cream
o Body Lotions
Oral Care Products
o Toothpaste
o Mouthwashes
o Cosmetics
o Multifunctional Products
o Others
By Ingredient
Emollients
Surfactants
Conditioning Polymers
Rheology Modifiers
Emulsifiers
Others
By Type
Vegan
Organic
Inorganic
By Distribution Channel
Online
Offline
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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