Global Personal Care Ingredients Market to Attain Us$11.76 Bn by 2023

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Personal Care Ingredients Market Global Industry
Analysis, Size, Share, Growth, Trends and
Forecast, 2023
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Global Biogas Plant Market Snapshot

• The global personal care ingredients market is
  increasingly fragmented and competitive, notes
  Transparency Market Research (TMR). Multinational
  companies largely hold prominent stakes in the
  value chain, mainly on account of their contracts
  and strategic ties spanning years.
• They also wield higher stakes in the global
  personal care ingredients market due to their
  financial might, giving them a competitive gain
  in development activities. 
• TMR finds that in 2014 the leading share was held
  jointly by three companies, namely, Akzo Nobel
  N.V., Evonik Industries AG, and BASF SE., as they
  accounted for nearly 24.4 share in the global
  personal care ingredients market. The level of
  competition in the personal care ingredients
  market is expected to stay unchanged in the
  coming few years also, as the threat of entry is
  substantial.
• The global personal care ingredients market will
  also see several regional players making foray in
  the coming years. 
• The global personal care ingredients market will
  clock a CAGR of 5.2 during 2015 - 2023. The
  market which stood at US8.19 bn in 2016 will
  reach a worth of US11.76 bn by 2023 end. 
• Among the types of application, the use of
  personal care ingredients in skin care is
  projected to reach a share of 33.1 by 2023 end.
    
• The revenues especially are driven by the demand
  for products such as hand lotions, baby care
  products, creams, and body lotions, especially
  among developing and developed countries. 
• Regionally, Asia Pacific is fast occupying the
  status of the most attractive market for personal
  care ingredients. The growth is driven by
  widespread and copious demand for various
  personal care ingredients among its burgeoning
  population. 

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Copious Demand for Skin Care Products in
Emerging Economies bolsters Prospects of Personal
Care Ingredients 

• Growing awareness about the benefits of personal
  care ingredients, especially skin care, in
  worldwide population is a key factor behind the
  evolution of the market. 
• In numerous emerging economies, premium personal
  care products have also gained some traction.
• Continually rising investment on research and
  development (RD) activities by manufacturers of
  personal care ingredients has led to a wide
  assortment of personal care products to meet the
  current and wide diversity of consumer needs,
  world over.
• This adds to the lucrativeness of the personal
  care ingredients market. 

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• Stringent Regulations cause Slowdown, Shift
  toward Natural Products offers Growth Impetus

• Stringent regulations pertaining to
  manufacturing, approval, and marketing of
  personal care products have slowed down the
  overall growth of the personal care ingredients
  market.
• In several countries, such regulations are a
  result of increasing safety norms, especially in
  established markets of Europe and North America.
  The fallout is dampened prospects of the personal
  care ingredients market.
• For instance, in India, an emerging market,
  cosmetic companies need to submit safety data for
  approval for use of personal care products. 

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About Us

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