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The global personal care active ingredients market size is set to reach $1.9 billion in 2022 and is projected to grow at a CAGR of 5.1% to reach $3.2 billion by the end of 2032, according to Fact MR.

The market research firm says personal care active ingredients have seen tremendous growth and demand from consumers post-pandemic as people are adopting a more natural approach for a spectrum of skin concerns. The annual increase in the sales of personal care active ingredients in the US has been steady and perennial. The key factor impacting the marketplace is a government regulation— the Food Safety and Modernization Act (FSMA), under requirements of DSHEA, and other laws, especially in the area of Good Manufacturing Practice (GMP) regulations and quality control.

Anti-Aging, Anti-Acne Segments Projected to Growth

With the market growing at a notable pace, many cosmetic brands are significantly using active ingredients for various skin problems at the forefront. These ingredients help to enhance beauty, cure ailments, speed up collagen production for younger-looking skin and provide anti-aging solutions. Some of the widely used active ingredients in the cosmetic industry include niacinamide, vitamin C, retinol, hyaluronic acid, ceramides and salicylic acid.

By product category, anti-aging and anti-acne segment is projected to grow at a CAGR of 4.1% and 4.9% during 2022-2032. By nature, the organic segment will be having a dominant share in overall demand creation for personal care products in the future.

Europe is the second largest market for active ingredients-based product and is bound to rise at noticeable CAGR during the forecast years of 2022-2032.

“North America is the largest consumer of active ingredients with the growing demand from various end-use verticals especially from the cosmetic industry,”- says a Fact.MR analyst.

Market Improvements and Expansion

The major players operating in the personal care active ingredients market are BASF SE, Evonik Industries, Clariant SA, Givaudan, Symrise AG and Croda International plc.

Merger and acquisitions, product launches, joint ventures, and other collaborations are some of the key strategies embraced by players. Digitalization and long-term trade relations with suppliers and distributors support revenue growth even in the unfavorable market scenario.