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Kline Offers Insights on Booming Personal Care Ingredients Market

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Increased consumption and awareness are driving the personal care ingredient market, reports Kline.

In its study "Personal Care Ingredients: Global Market Analysis," the consulting and research firm anticipates the market grew 3% in 2018. Here are a few of the major takeaways:

  • Inclusive beauty has driven growth of ingredients used in customized foundations, such as titanium and iron oxides
  • UV absorbers are increasing in popularity in Europe, due to increased consumer awareness of the impact of sun exposure (in the U.S., however, UV absorbers have not yet been approved by the FDA, limited the development of the sunscreen market)
  • The only markets with below average growth are the three largest: Europe, the U.S. and Japan; in India, personal are ingredients are forecast to increase more than twice as fast as the global average, surpassing all other high growth markets including Brazil and Southeast Asia
  • The “natural” trend is going strong, driving the increase in importance of organic and natural-perceived ingredients like benzoates and benzoic acid, natural gums, cellulosics, emollient esters, natural oils, and alkyl polyglucosides
  • As mineral oil and silicone make way for exotic oils and butters, emollients are showing strong growth; in the U.S. emollients, popular for properties such as skin smoothing and a non-greasy fell, are forecast to achieve the fastest growth during the 2018-2023 period
  • Regulatory pressures and marketing tactics will effect certain ingredients. Per senior analyst Carlos Ruiz: “For instance, regulatory body approves the use of parabens within limits; however, the claim ‘paraben-free’ creates a negative perception of an ingredient for consumers, an image that these ingredients are harmful. In the following years, a guidance on ‘free from’ claims shall occur, which will only be allowed if an ingredient is banned based on a regulation.”
  • Hair fixative polymers face growth restraint in the face of the natural-looking hair trend (however, they are still forecast to see growth in India)
  • Multifunctional ingredients, and simplified processes using fewer ingredients, will help reduce costs for manufacturers and achieve the consumer’s desire for conscious consumption