Personal Care & Cleaning Chemicals Market - Forecast(2023 - 2028)
Personal Care & Cleaning Chemicals Market Overview
The Personal
Care & Cleaning Chemicals market size is estimated to reach US$24.6
billion by 2027, after growing at a CAGR of 8.8% during the forecast period
2022-2027. Personal Care & Cleaning Chemicals such as hypochlorite (bleach),
alcohols, acid cleaners and alkalis are substances that are used for personal
hygiene and cleaning. The rising consciousness of consumers about their
appearance is one of the primary factors driving the growth of the market. According to Invest India, the personal hygiene market is expected to
reach $15 billion by 2023. Rising demand for fragrance ingredients,
hard-surface cleaners and new developments in skincare products are expected
to drive market growth. The COVID-19 pandemic majorly impacted the Personal Care & Cleaning Chemicals market due to restricted production, supply
chain disruption, logistics restrictions and a fall in demand. However, with
robust growth and flourishing applications across major industries such as personal
care & cosmetics and the Personal Care & Cleaning
Chemicals
industry is anticipated to grow rapidly during the forecast period.
Personal
Care & Cleaning Chemicals Report Coverage
The “Personal Care & Cleaning Chemicals Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth
analysis of the following segments in the Personal Care & Cleaning Chemicals industry.
Key takeaways
- Asia-Pacific dominates the Personal Care & Cleaning Chemicals market size. The increase in demand from applications, such as skin care, hair care and others, is the main factor driving the region's growth.
- One of the primary factors contributing to the Personal Care & Cleaning Chemicals market's favorable outlook is significant growth in the personal care sector around the world.
- The Personal Care & Cleaning Chemicals industry would see numerous opportunities throughout the forecast period due to the rising demand for hygiene products and expansion in the chemical industry.
- However, the Personal Care & Cleaning Chemicals market's expansion is projected to be hindered by complex techniques.
Personal Care & Cleaning Chemicals Market Segment Analysis – by Product Type
The Cleaning Chemicals segment held a
significant share of the Personal Care & Cleaning Chemicals market in
2021 and is projected to grow at a CAGR of 8.7% during the forecast period
2022-2027. This is due to the growing demand for cleaning chemicals hypochlorite
(bleach), alcohols, acid cleaners and alkalis, surfactants chlorine dioxide and
others in various end-use industries. The antimicrobial properties of these
chemicals make them a prominent choice for use in cleaning products. They are highly
efficient, in high demand globally and are expected to grow rapidly during the
forecast period. These extensive properties, compiled with increasing
applications of Personal Care & Cleaning Chemicals, are majorly driving its
segmental growth. Thus, the use of cleaning
chemicals in various
applications would propel the growth of the Personal Care & Cleaning Chemicals market size.
Personal Care & Cleaning Chemicals Market Segment Analysis – by Application
The Personal Care segment held a
significant share in the Personal Care & Cleaning Chemicals market in
2021 and is projected to grow at a CAGR of 9.3% during the forecast period
2022-2027. Growing awareness about skin challenges, the desire to maintain an even
skin tone, the demand for anti-aging skin cosmetics and the desire to look
beautiful and youthful are driving product sales, allowing for deeper
penetration and expansion into newer markets. According to the International
Trade Administration, Mexico's overall cosmetic sector output increased from
$7.10 billion in 2018 to $7.15 billion in 2019. According to Cosmetic Europe,
the personal care and cosmetics industry witnessed a growth of 1.3% in 2018
as compared to 2017. With the rise in the demand for personal care across the globe,
the demand for Personal Care & Cleaning Chemicals is also anticipated to rise for various applications, which is projected to boost the
market.
Personal Care & Cleaning Chemicals Market Segment Analysis – by Geography
The Asia-Pacific region held a significant share of up to 32.8% in the Personal Care & Cleaning Chemicals market in 2021. The rising demand and growth of Personal Care & Cleaning Chemicals in this region are influenced by flourishing demand from major industries such as personal care & cosmetics, chemical industries and others, along with growing manufacturing activities across APAC. According to the India Brand Equity Foundation (IBEF), the beauty, cosmetics and grooming market in India would reach US$20 billion by 2025. According to the International Trade Administration, Thailand's beauty and personal care goods market was valued at US$6.2 billion in 2018 and is projected to grow to US$8.0 billion by 2022. With the rise in personal care & cosmetic production and flourishing consumer demand in APAC, the demand for Personal Care & Cleaning Chemicals for a wide range of applications would also grow. This is anticipated to boost the Personal Care & Cleaning Chemicals industry in the Asia-Pacific region during the forecast period.
Personal Care & Cleaning Chemicals Market Drivers
Rising Demand for Skin Care Products:
Growing
urbanization, an increase in the number of working women, changing lifestyles and increased
hygiene and skin care awareness are some of the key drivers of the personal
care and cleaning chemical market. The introduction of personal care, containing
natural, non-toxic and organic ingredients, has also aided market growth. In March 2022, Pilgrim expanded its product portfolio and introduced new
vegan skincare products. In June 2021, SO'BiO étic® introduced organic
and natural skin care products in the United States through the
#SOBiOWhaleChallenge on Instagram. With the rise in the demand for skin care
across the globe, the demand for personal care & cleaning chemicals is
anticipated to rise for various applications, which is projected to boost the
market growth.
Bolstering Growth of the Cleaning Chemicals Industry:
Cleaning
chemicals such as hypochlorite (bleach), alcohols, acid cleaners and
alkalis
are substances that are used to remove dirt, dust, blemishes, odors and
clutter from surfaces. The recent pandemic has raised safety and
hygiene concerns, leading to an increase in the consumption of cleaning
chemicals around the globe, thereby driving the personal care & cleaning
chemicals market. In June 2021, Unilever introduced the world's
first paper-based laundry detergent bottle. In December 2020, Godrej Consumer
Products introduced a home cleaning line "ProClean". In June 2022, ARM &
HAMMERTM Laundry Introduced Concentrated Formula Liquid Detergents to help
accelerate sustainability initiatives. With the rise in the demand for cleaning
chemicals across the globe, the demand for personal care & cleaning chemicals is
anticipated to rise for various applications, which is projected to boost market growth.
Personal Care & Cleaning Chemicals Market Challenge
Health Hazards And Strict Government Regulations:
The negative effects of Personal Care & Cleaning Chemicals are anticipated to restrain the market's expansion on a global scale. Various chemicals found in beauty and personal care products can have negative effects on the skin. Additionally, various government restrictions on the use of chemical agents in personal care ingredients and cleaning products have been a major issue in the personal care and cleaning chemical industry across various regions. EU Cosmetics Regulation 1223/2009 prohibits the use of substances that are carcinogenic, mutagenic or toxic for reproduction (CMR) in cosmetic products. Moreover, one of the major factors limiting the growth of conventional personal care and cleaning chemical products is growing consumer awareness about the potential side effects of using such products. These are some of the key obstacles to the growth of the Personal Care & Cleaning Chemicals market.
Personal Care & Cleaning Chemicals Industry Outlook
Technology launches, acquisitions
and R&D activities are key strategies adopted by players in the Personal
Care & Cleaning Chemicals market. The top 10 companies in the Personal Care & Cleaning Chemicals market are:
- Lubrizol Corporation
- Evonik Industries AG
- The Dow Chemicals Company
- Clariant AG
- Ashland Inc.
- Huntsman Corporation
- BASF SE
- The Body Shop International PLC
- Amway Corporation
- Bare Escentuals Beauty Inc
Recent Developments
- In April 2022, Belviso announced the arrival of its premium skin care products in India. Belviso Vitamin C Serum, Belviso Multi-acid Serum, Belviso Niacinamide Serum, Belviso Total Nano Gel and Belviso Transformation Creams are available from the skin care products portfolio.
- In January 2021, Superpristine introduced Yuzol cleaning products. The product line includes liquid detergent, floor cleaner, glass cleaner, dish wash gel, de-scaler powder and handwash.
- In December 2020, Godrej Consumer Products introduced a home cleaning range - ProClean. The new ProClean collection includes three products: ProClean Toilet Cleaner, ProClean Bathroom Cleaner and ProClean Floor Cleaner.
Relevant Reports
Report Code: CMR 1186
Report Code: CMR 1266
Report Code: CPR 0102
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