Personal Care Chemicals and Ingredients Market: Overview
Personal care chemicals and ingredients market has been rapidly evolving and dynamically changing on the back of the dynamics of consumer demand for fast moving consumer goods. A dizzying array of personal care products have been launched around the world and brands have been aggressively promoting their offerings’ health and hygiene benefits. Chemical companies and personal care brands are leaning on developing chemicals that can improve the efficacy of final formulation and also are excellent on toxicity profile.
Consumers on the other hand have expanded their understanding of the benefits, side-effects on health, and price points while making their choices. Social media and other advertisement channels have also played a role in shaping their preferences, thereby shaping the contours of the personal care chemicals and ingredients market. They are thus getting attracted more to natural sources of ingredients.
Some of the key product categories in the personal care chemicals and ingredients market are soap, hair care, oral care, and skin care. Common types of ingredients used are conditioning polymers, emulsifiers, antimicrobials rheology control agents, surfactants, emollients, hair fixative polymers, and UV absorbers.
Personal Care Chemicals and Ingredients Market: Key Trends
The study on the personal care chemicals and ingredients market presents a comprehensive insight into the various consumer adoption trends, new marketing avenues, prevalent research and development avenues by big brands, and winning imperatives adopted by top players. The research strives to offer insights into the trends including macroeconomic aspects that are shaping new consumer demands. Recent product recalls and disruptive demand trends that have acted as outliers to the personal care chemicals and ingredients market estimations are also taken into account to arrive at balanced scenario of the overall value chain.
The growing demand for hair care and specialized skin care products, especially among male population in developing economies, is a favorable trend influencing the evolution trajectories in the market. Also, the demand for naturally sourced products and organic ingredients is a key driver for avenues in the personal care chemicals and ingredients market. Over the past few years, conditioning polymers have seen new demand avenues, and has propelled some sizable revenue streams for personal care brands.
Rapidly aging population has also spurred the popularity of anti-aging formulations in skin care products.
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Personal Care Chemicals and Ingredients Market: Competitive Analysis and Key Developments
Developers and manufacturers of personal care chemicals and ingredients are keen on meeting a wide range of demand of personal care product manufacturers. They are leaning on offering formulations that can empower personal care brands to differentiate their products. The lack of consumer awareness about the benefits of naturally sourced ingredients has restrained the expansion avenue in personal care chemicals and ingredients market.
They are also keen on innovating their product development lines by adopting new extracting technologies. Several players have ramped up their investments in developing new formulations that expand the option for product manufacturers.
Some of the key players in the personal care chemicals and ingredients market are Wacker Chemie AG, Momentive performance materials inc., Ashland Global, J.M. Huber Corporation, Croda International plc, Solvay S.A., Dow Corning, Evonik Industries, and BASF SE.
Personal Care Chemicals and Ingredients Market: Regional Assessment
Some of the key regions in the personal care chemicals and ingredients market are North America, Europe, and Asia Pacific. These regional markets have seen new demand and consumption avenues largely due to growing awareness about the ingredients used in the final products. Asia Pacific market has seen rise in revenue streams on the back of the exemplary strides made in fast moving consumer goods companies.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.