Market Highlights:
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “MENA/G.C.C./China Cosmetic & Personal Care Ingredients Market size is expected to grow at 5.5% CAGR by 2023.
Cosmetics & Personal Care Ingredients are gaining importance in the applications such as skincare, bath & shower, color cosmetics and hair care among others. Increasing affinity of the youth population towards skin lightening and color cosmetic products is expected to augment the skincare ingredients market. Moreover, substantial spending on Cosmetics & Personal Care in Middle East are expected to boost the personal care ingredients market. However, stern regulations on usage of some personal care ingredients in the products owing to carcinogenic dioxane banned in shampoo by Saudi Arabia Food & Drug Administration will restraint the market demand in coming years. Hence, with research & development, companies are focusing on multi-functionality requirements by consumer in order to cater the market demand.
Key Players:
Key players of the MENA/G.C.C./China Cosmetic & Personal Care Ingredients Market are SABIC, Artec Chemical Company Limited, Dongming Jujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Chemanol and DOGOIDE Group among others.
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Segment Analysis:
Cosmetic & Personal Care Ingredients refer to the raw materials which are used for manufacturing of cosmetic products. The ingredients can be processed naturally as well as synthetically which are blended and formulated to enhance the properties of cosmetic products.
The different categories of ingredients used in manufacturing of cosmetics include, emulsifiers, emollients, rheology modifiers, surfactants, and antioxidant among others. Ingredients used under this categories include — tocopherols, dimethicone, parabens, formaldehydes, sodium lauryl sulphate, titanium dioxide, glycerine and alcohols among others. With dominance of skincare, hair care and fragrance products along with multi-functionality ingredients to boost the personal care ingredients market.
Green surfactants and emulsifiers are heading high in personal care formulations owing to high demand for sustainable products as well as adopting renewable feedstock. Ingredients like sodium lauryl sulfate provides primary foam, cleaning and has good tolerance and emulsifying properties.
For instance, tocopherols, dimethicone and isopropyl esters are majorly used as antioxidants and conditioning polymers respectively in personal care and cosmetics products. Similarly, Sodium lauryl sulphate and sodium laureth sulphate are used as foaming agent in hair conditioners and shampoo products. The formaldehyde market segment is estimated to account for maximum market share of 16.87% in terms of value. The major factors such as increasing concern about skin lightening and color among the consumers are anticipated to drive the market demand over the forecast period.
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Key Points from Table of Contents:
10 Company Profile
10.1 Introduction
10.2 SABIC
10.2.1 Company Overview
10.2.2 Product/Business Segment Overview
10.2.3 Financial Updates
10.2.4 Key Developments
10.3 Artec Chemical Company Limited
10.3.1 Company Overview
10.3.2 Product/Business Segment Overview
10.3.3 Financial Updates
10.3.4 Key Developments
10.4 Dongming Jujin Chemical Co., Ltd.
10.4.1 Company Overview
10.4.2 Product/Business Segment Overview
10.4.3 Financial Updates
10.4.4 Key Developments
10.5 Ittihad International Chemicals Trading LLC (IICT)
10.5.1 Company Overview
10.5.2 Product/Business Segment Overview
10.5.3 Financial Updates
10.5.4 Key Developments
10.6 Reza Chemical Industries (RCI) (REZA Investment Company Ltd.)
10.6.1 Company Overview
10.6.2 Product/Business Segment Overview
10.6.3 Financial Updates
10.6.4 Key Developments
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