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Personal Care Ingredients Market Worth 17.33 Billion USD by 2022

Skin care products are driving growth.

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By: Marie Redding

Senior Editor, Rodman Media

The Personal Care Ingredients Market is forecasted to be worth 17.33 Billion USD by 2022, according to this report published by MarketsandMarkets.

The market was valued at USD 13.35 Billion in 2016 and is projected to grow at a CAGR of 4.33% from 2017 to 2022.

The market drivers include the increasing demand for personal care ingredients from applications such as skin care, hair care, oral care, and make-up. Skin care is the largest application segment for personal care ingredients.

By application, the skin care segment is estimated to account for the largest share of the global personal care ingredients market in 2017, in terms of value. This application is projected to drive the personal care ingredients market from 2017 to 2022 due to the changing lifestyle and rise in consumer spending on personal care products in developing countries such as India, China, Brazil, and South Africa, among others.

In addition, the growing demand for multifunctional ingredients for skin care products for aging population such as anti-aging and anti-acne creams in countries such as the U.S., the U.K., Germany, France, Japan, and South Korea is also expected to drive the demand for personal care ingredients.

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