- The desire to look youthful among the aging populace has driven the requirement for personal care chemicals and ingredients.
- Rising awareness and disposable income in emerging markets is driving growth.
- Increasing regulation in North America and Europe may hamper growth.
There has been a radical change in the expectations for the everyday comforts of individuals. The increasing awareness about the chemicals and other ingredients utilized in the products will leave a positive effect on the product market. The expanded focal point of the geriatric populace on anti-aging products is considered to fuel the personal care chemicals and ingredients market.
The desire to look youthful among the aging populace has driven the requirement for personal care chemicals and ingredients. A huge investment in innovation and research has prompted the advancement of novel ingredients and chemicals for personal care products. The ingredients give execution qualities, for example, smoothness, thickening, foaming, conditioning and so on. Expanded utilization of dermatological products, for example, shampoos, sunscreen gels and lotions, creams and so forth have increased the personal care chemicals and ingredients market.
Rising customer awareness in the direction of ingredients along with increasing higher disposable income of the middle-class individuals in emerging nations is fueling the requirement of global personal care chemicals and ingredient market. In addition, rising requirements for green and natural ingredients in personal care products will be benefitting the market in the years to follow. High investments towards technology and innovation have ensued in the expansion of several new ingredients and new chemicals based personal care product in the approaching years.
Formulators are always developing specialty ingredients to employ in the product composition of personal care that has observably enhanced the performance of the product. The increasing acknowledgment of performance-oriented ingredients is considered to drive this promising industry. For example, preservative boosters, for example, caprylyl glycol and glyceryl caprylate are by and large widely utilized instead of conventional preservatives, as they add emollient properties to the formulations.
The product categories in the worldwide market for personal care chemicals and ingredients are classified as antimicrobials, conditioning polymers, rheology control agents, emulsifiers, surfactants, emollients, UV absorbers and hair fixative polymers. Surfactants are widely utilized the personal care chemicals and ingredients market, while conditioning polymers are indicated to be lucrative over the years to come.
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The active ingredients in the chemical properties and functions of these personal care chemicals and ingredients are considered to be foreseeing maximum expansion among others such as lipid layer enhancers, active ingredients, waxes, shine concentrates, opacifiers, protein products, chelating agents, thickeners, cream bases, humectants and others.
Regulations to Market Players on the Usage of Chemicals and Ingredients to Ascertain the Safety Standards to Impact the Market
Regulating plays an important role in determining the future of the personal care chemicals and ingredients market. The European Union and the U.S. have enforced a few regulations on the usage of personal care chemicals and ingredients to ascertain the safety standards. This indicates to unfavorably impact the product market. Regulating authorities in relation to the personal care sector have cast out several ingredients in Europe.
Recently, the NPA (Natural Products Association) acknowledged BASF for offering the biggest ingredients selection for cosmetic makers who wish to certify their products as per the NPA Natural Standard. The BASF product portfolio for natural cosmetics arrays from essential raw materials such as emollients and surfactants to active and additives ingredients. Apart from the Natural Standard of NPA, the leading market player also aids their consumer with all essential data and information for the NATRUE and COSMOS standards in addition to the ISO 16128 norm. About 130 ingredients for personal care applications formulated by BASF have by now been registered with COSMOS and over 50 of the products are measured concerning the NATRUE criteria. This makes BASF the biggest provider of raw materials which are proper for organic and natural cosmetic products under the NATRUE and COSMOS standards.
Apart from BASF SE some of the prominent worldwide players in the personal care chemicals and ingredients market globally are Dow Corning, Evonik Industries, Croda International plc, Solvay S.A., J.M. Huber Corporation, Clariant, Momentive performance materials inc., Ashland Inc and Wacker Chemie AG.