According to the report titled ‘Global Personal Care Specialty Ingredients Market Size study, by Product (Active and Inactive), and Regional Forecasts 2021-2027’, available with Market Study Report, global personal care specialty ingredients market was worth USD 12.77 billion in 2020 and is expected to register an annual growth rate of 5.4% during 2021-2027, thereby accumulating USD 18.45 billion by the end of forecast period.
 

Surging consumer awareness regarding the harmful effects of synthetic chemicals used in personal care products, long term benefits offered by organic products, and lifestyle improvements are driving the expansion of global personal care specialty ingredients market.
 

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In addition, emphasis on personal grooming, preference for cruelty-free cosmetics, production of innovative & customized products, along with rapid urbanization are further augmenting industry outlook.
 

For the unversed, personal care ingredients are raw materials used in skin care products. These ingredients can be used as anti-aging, anti-fungal, or skin conditioning agents.
 

Speaking of the negatives, inconsistency in the production & supply of raw materials, and restrictions on the use of certain ingredients are likely to slow down the market progression in the ensuing years.
 

Based on product, worldwide personal care specialty ingredients market is bifurcated into active, and inactive. Regionally speaking, North America, Asia Pacific, Latin America, and Europe are considered to understand the market dynamics.
 

The report cites that Asia Pacific presently holds a major market share due to rising inclination of customers towards skin & personal care products, along with emergence of new startups in personal care vertical.
 

Meanwhile, North America market size is anticipated to expand significantly during 2021-2027, owing to escalating demand for luxury products. As per the data released by National Center for Biotechnology Information (NCBI), Americans spend around USD 43 billion on skin care products every year.
 

Key players like INOLEX, Inc., Vantage Specialty Ingredients, Inc., Treatt, Evonik Industries AG, Symrise AG, Ashland Global Security Chemicals, Inc., BASF SE, Naturex, Inc., Lotioncrafter LLC, and The Dow Chemical Company are profiled in global personal care specialty ingredients market report.