Market Size – USD 15.38 Billion in 2019, Market Growth - CAGR of 4.5%, Market Trends – The rising demand for Personal Care Specialty during growing demand for personal care products amidst the COVID-19 pandemic  

New York, May 11, 2020 - The Global Personal Care Specialty Ingredients market is forecast to reach USD 22.00 Billion by 2027, according to a new report by Reports and Data. One of the major driving factors fostering the growth of the market is increasing expenditure on personal grooming, which is supported by growing per capita disposal income. It is also contributing to the growing demand for these specialty ingredients. There has also been an elevating awareness and understanding of the association between personal hygiene, personal care, and health in developing regions, which is also supporting the expansion of the sector in these regions. The expansion of the industry in these regions is also supported by healthy employment and growing GDP.  The growing demand for multipurpose products is another mentionable factors supporting the growth of the sector. The COVID-19 pandemic is also acting as a propelling factor for the expansion of the market.     

The COVID-19 Impact: One of the immediate impacts of the COVID-19 pandemic is impulse buying among consumers, which would contribute to the growth of the sector. There has been particularly increasing demand for personal care products under preventive categories like soap due to the hand hygiene guidelines provided by regulatory bodies like WHO. With the growing demand for preventive personal care products, as a ripple effect, products for skincare like moisturizes would also witness a surging demand. The demand for these products is primarily boosted due to frequent hand washing habit amidst the epidemic, as it is considered to be essential for preventing transmission of the virus. The consumers in the APAC region are observed to be more hygiene-focused now and they are emphasizing on minimizing the risks associated with exposure to health risks amidst the outbreak. Thus consideration of the demand of consumers and operating according to consumer behavior and preferences would turn out to positively impact the growth of the market players during this pandemic.   

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Further key findings from the report suggest

• In context to Ingredient Type, the Formaldehyde segment held a significant market share of more than 15.0% in 2019. The market share held by the Formaldehyde segment is attributed to its wide arena of applications in personal care products ranging from soaps, lotions, shampoos, among others, which contributes to the market share held by this segment. The main reason for using this ingredient is providing protection to the product from contamination of bacteria during its continued use and storage.
• In context to Product, the Inactive product segment held a considerable share of the market of more than 60.0% in 2019. The market share held by the Inactive product segment is attributed to the effectiveness of the product in developing the benefits of individual elements of cosmetic formulations, which results in its high demand among end-users, contributing to the market share held by this segment.
• In context to End-use, the Skincare segment held a considerable share of the market of more than 35.0% in 2019. Skincare products usually include moisturizers, lotions, and creams, among others. The market share held by the Skincare segment is attributed to growing demand skin beautifying products, which comprises of properties like skin smoothening, brightening and soothing properties that are contributing to the market share held by this segment.      
• In May 2020, BASF announced the initiation of its functioning in South Carolina, wherein it is emphasizing on manufacturing opacifiers and pearlizers. The blend is essential ingredients for opacity or shimmering effect in personal care products like shampoos, soaps. With this expansion, the company could not only strengthening its industry positioning but it is also catering to the increasing demand for the specialty ingredients among end-users.  
• Key participants include BASF SE, Vantage Specialty Ingredients, Inolex, Ashland, Inc., Naturex, Adina Cosmetic Ingredients, Cosmetic Ingredients (Pty) Ltd., Avenir Ingredients, Treatt and
• In May 2016, Vantage Specialty Ingredients had acquired Resources of Nature LLC. With the help of this acquisition, Vantage Specialty Ingredients could successfully acquire the net assets of the company and brought new complementary product lines like treated powders, active ingredients, among others.

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For the purpose of this report, Reports and Data have segmented the Personal Care Specialty Ingredients market on the basis of Ingredients Type, Product, End-use, and region:

Ingredients Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

• Glycerols
• Formaldehyde
• Isopropyls
• Dimethicone
• Alcohols
• Titanium Dioxide
• Sodium Lauryl Sulphate

Product Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

• Active
• Inactive

End-use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

• Hair Care
• Skin Care
• Make-Up
• Oral Care
• Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

• North America
  • S
• Europe
  • K
  • France
• Asia Pacific
  • China
  • India
  • Japan
• MEA
• Latin America
  • Brazil

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