Cosmetics Personal Care Ingredients Market Summary
As per Market Research Future Analysis, the Global Cosmetics and Personal Care Ingredients Market was valued at USD 9.63 billion in 2023 and is projected to reach USD 15.09 billion by 2032, growing at a CAGR of 5.04% from 2024 to 2032. The market is driven by increased consumer preference for versatile products, innovative branding, and the rise of digital technologies influencing buying behavior. The demand for self-care products and natural ingredients is also contributing to market growth, particularly among millennials who prioritize beauty and personal care. North America leads the market, followed by Europe and Asia-Pacific, with significant growth expected in the latter due to a rising young population.
Key Market Trends & Highlights
Key trends driving the market include innovative branding, digital engagement, and a shift towards sustainable products.
- Market Size in 2023: USD 9.63 billion; Projected Market Size by 2032: USD 15.09 billion.
- CAGR from 2024 to 2032: 5.04%; Major growth driven by self-care and natural ingredients.
- North America holds the largest market share; Asia-Pacific expected to grow the fastest.
- Formaldehyde and preservatives are leading segments in type and application respectively.
Market Size & Forecast
2023 Market Size: USD 9.63 billion
2024 Market Size: USD 10.18 billion
2032 Market Size: USD 15.09 billion
CAGR: 5.04%
Largest Regional Market Share in 2024: North America.
Major Players
Key players include BASF SE, Lonza, Clariant, Ashland, Croda International Plc., Evonik Industries AG, Nouryon, Solvay, and Dow.
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
Cosmetics and Personal Care Ingredients Market Trends
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Innovative product branding and advertising is driving the market growth
Innovative product branding helps customers immediately recognize the product. Product branding is a strategic combination of design and experience that uniquely identifies a product and sets it apart from other products in the category. The rise of digital technologies has influenced consumers' buying behavior in the personal care products market. The major personal care brands in the market are increasing their digital technologies to enable consumers to experience brands in an entirely new way. Technological advancements, innovative branding, and advertising strategies have made accessing personal care and hygiene easy.
Major beauty companies and brands continuously innovate their product branding and advertising strategies to reach a wider audience base and increase customer engagement. Many brands have been using social media platforms as a major strategy to enhance brand reach in recent years. This factor drives the Market CAGR. Additionally, personal care ingredients are the raw materials used to manufacture skincare products worldwide. Ingredients used in skincare products are anti-fungal, anti-aging, skin conditioning, and others. Personal care ingredients can be classified as active and inactive ingredients.
Active ingredients include anti-aging agents, exfoliants, conditioning agents, and UV-protecting agents, whereas inactive ingredients include surfactants, preservatives, colorants, and polymer ingredients. The increasing demand for self-care products to combat stress and anxiety, and the tendency of consumers to increase their engagement in self-care routines to feel good and look better, has been the major driver for market growth. The interest in natural and organic ingredients has further increase the awareness and demand for skin care products such as face masks, body scrubs, toners, and serums among users, as it emphasizes changing their existing skin care.
Furthermore, the personal care industry is very important in every developed and developing economy. The rise in disposable incomes strengthened the purchasing power of consumers. Accelerated urbanization and increasing urban population with changing lifestyle demands are important drivers for the increasing demand for personal care products. The growing economy has increased disposable income with a population in urban areas. This has increased the spending capacity of the urban population. Millennials form a major part of the urban population and consumer spending. They are at the forefront of the beauty athleisure trend.
It constitutes a major significant factor in spending on beauty products and cosmetics. Increasing social media trends and the need to look good are expected to boost market demand. Thus, driving the Cosmetics and Personal Care Ingredients market revenue.
The bio-based cosmetics and personal care ingredients market is experiencing robust growth, driven by increasing consumer demand for sustainable and eco-friendly products
Cosmetics and Personal Care Ingredients Market Segment Insights
Cosmetics and Personal Care Ingredients Type Insights
The Cosmetics and Personal Care Ingredients market segmentation, based on type, includes Formaldehyde, Glycerols,
Titanium Dioxide, Isopropyls, Alcohols, Dimethicone, Sodium Lauryl Sulphate, Parabens, Tocopherols, Benzones, Oleochemical, Surfactants, Polymer, Botanical Extracts, Others. The formaldehyde segment dominated the market because formaldehyde is a versatile ingredient that can be used in various cosmetic and personal care products, including hair styling products, skin care products, and nail care products.
Cosmetics and Personal Care Ingredients Application Insights
The Cosmetics and Personal Care Ingredients market segmentation, based on application, includes
emulsifiers
, stabilizers, preservatives, thickeners, moisturizers, emollients, and others. The preservatives segment dominated the market because preservatives are used in various cosmetic and personal care products to prevent the growth of bacteria, mold, and other microorganisms. This includes skin care products, hair care products, makeup products, and fragrances.
Cosmetics and Personal Care Ingredients End-Use Insights
Based on End-Use, the Cosmetics and Personal Care Ingredients market segmentation includes Skincare, Haircare, Fragrance, Bath &Shower, and others. The Skincare segment dominated the market because the customers favor beautifying skin products that help enhance their looks and further boost their confidence and demand, resulting in the expansion of the cosmetics and personal care ingredients market size.
Figure1: Cosmetics and Personal Care Ingredients Market, by End-Use, 2022&2032(USD billion) 
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
Cosmetics and Personal Care Ingredients Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Cosmetics and Personal Care Ingredients market will dominate due to growing awareness regarding the properties of beauty & personal care products, which will boost the market growth in this Region. Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: COSMETICS AND PERSONAL CARE INGREDIENTS MARKET SHARE BY REGION 2022 (%) 
Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
Europe's Cosmetics and Personal Care Ingredients market accounts for the second-largest market share due to the growing characteristics of personal care products. Further, the German Cosmetics and Personal Care Ingredients market held the largest market share, and the UK Cosmetics and Personal Care Ingredients market was the fastest-growing market in the European Region. The Asia-Pacific Cosmetics and Personal Care Ingredients Market is expected to grow fastest from 2023 to 2032. This is due to the rising young population.
Moreover, China’s Cosmetics and Personal Care Ingredients market held the largest market share, and the Indian Cosmetics and Personal Care Ingredients market was the fastest-growing market in the Asia-Pacific region.
Cosmetics and Personal Care Ingredients Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Cosmetics and Personal Care Ingredients market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Cosmetics and Personal Care Ingredients industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Cosmetics and Personal Care Ingredients industry to benefit clients and increase the market sector. The Cosmetics and Personal Care Ingredients industry has offered some of the most significant advantages in recent years.
Major players in the Cosmetics and Personal Care Ingredients market, including DongmingJujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), SABIC, Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Artec Chemical Company Limited, Chemanol and DOGOIDE Group., and others, are attempting to increase market demand by investing in research and development operations. BASF SE, an initialism, and portmanteau for its original name BadischeAnilin- und Soda-Fabrik, is a European multinational company and the largest chemical producer in the world. Its headquarters are in Ludwigshafen, Germany.
BASF SE introduced a new production line at the Kaohsiung site in Taiwan to double the production of Uvinul a Plus, an ingredient used for UVA (UV longest wavelength) protection. It is used in various sun and skin care formulations. The production line was introduced to meet the rising consumer demand in the Asia Pacific market. The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most followed equity indexes.
Dow showcased sustainable beauty formulation and ACULYN rheology modifiers. This product reduces carbon footprint and is very easy to use.
Key Companies in the Cosmetics and Personal Care Ingredients market include
- Croda International Plc. (UK)
- Evonik Industries AG (Germany)
Cosmetics Personal Care Ingredients Industry Developments
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Q2 2024: BASF opens new personal care ingredients plant in Shanghai BASF inaugurated a new manufacturing facility in Shanghai dedicated to producing ingredients for the cosmetics and personal care industry, aiming to meet growing demand in the Asia-Pacific region.
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Q2 2024: L'Oréal acquires biotech startup Debut for $200 million to boost sustainable ingredient innovation L'Oréal announced the acquisition of Debut, a California-based biotech company specializing in sustainable cosmetic ingredients, to accelerate its development of bio-based personal care products.
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Q3 2024: Evonik launches new ceramide-based ingredient for sensitive skin care Evonik introduced a new ceramide ingredient designed for sensitive skin applications, expanding its portfolio of specialty personal care ingredients.
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Q1 2024: Ashland announces partnership with Givaudan to co-develop natural personal care ingredients Ashland and Givaudan entered a strategic partnership to jointly develop and commercialize new natural ingredients for the cosmetics and personal care market.
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Q2 2024: Unilever opens new R&D center for personal care ingredients in the UK Unilever opened a new research and development center in the UK focused on innovating sustainable and high-performance ingredients for its personal care brands.
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Q3 2024: Croda appoints new CEO to drive growth in personal care ingredients segment Croda International announced the appointment of a new CEO, with a stated focus on expanding the company's presence in the global personal care ingredients market.
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Q1 2025: DSM-Firmenich launches plant-based UV filter for sun care products DSM-Firmenich introduced a new plant-based UV filter ingredient, targeting the growing demand for natural and sustainable sun care solutions.
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Q2 2025: Symrise acquires minority stake in biotech firm Clara Foods to access novel personal care ingredients Symrise acquired a minority stake in Clara Foods, a biotech company developing animal-free proteins and specialty ingredients for the cosmetics and personal care industry.
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Q2 2025: Clariant opens new innovation center for personal care ingredients in Singapore Clariant inaugurated a new innovation center in Singapore to accelerate the development of advanced ingredients for the cosmetics and personal care sector.
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Q1 2025: Solvay receives EU regulatory approval for new biodegradable surfactant for personal care Solvay announced it has received regulatory approval from the European Union for its new biodegradable surfactant, designed for use in personal care formulations.
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Q3 2024: IFF launches upcycled ingredient line for sustainable beauty products International Flavors & Fragrances (IFF) launched a new line of upcycled ingredients aimed at meeting the rising demand for sustainable and eco-friendly beauty and personal care products.
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Q2 2024: L'Oréal and Geno announce partnership to develop bio-based cosmetic ingredients L'Oréal and Geno entered a multi-year partnership to co-develop and scale up the production of bio-based ingredients for use in L'Oréal's personal care and beauty products.
Cosmetics and Personal Care Ingredients Market Segmentation
Cosmetics and Personal Care Ingredients Type Outlook
Cosmetics and Personal Care Ingredients Application Outlook
Cosmetics and Personal Care Ingredients End-Use Outlook
Cosmetics and Personal Care Ingredients Regional Outlook
| Attribute/Metric |
Details |
| Market Size 2023 |
USD 9.63 billion |
| Market Size 2024 |
USD 10.18 billion |
| Market Size 2032 |
USD 15.09 billion |
| Compound Annual Growth Rate (CAGR) |
5.04% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Type, Application, End-Use and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
DongmingJujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), SABIC, Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Artec Chemical Company Limited, Chemanol and DOGOIDE Group |
| Key Market Opportunities |
Demand For Cruelty-Free Cosmetics |
| Key Market Dynamics |
Surge In Personal Disposable Income Levels Preference for Multi-Purpose Cosmetic Products |
Cosmetics Personal Care Ingredients Market Highlights:
Frequently Asked Questions (FAQ):
The Cosmetics and Personal Care Ingredients market was valued at USD 9.63 Billion in 2023.
The Cosmetics and Personal Care Ingredients market is projected to grow at a CAGR of 5.04%during the forecast period, 2024-2032.
North America had the largest share of the Cosmetics and Personal Care Ingredients market
The key players in the market are DongmingJujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), SABIC, Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Artec Chemical Company Limited, Chemanol and DOGOIDE Group.
The Formaldehyde category dominated the market in 2023.
Skincare had the largest share of the Cosmetics and Personal Care Ingredients market.
