Impact of COVID-19 on Mena/G.C.C./China Cosmetics & Personal Care Ingredients Market Size 2020 Share, Augmentation and Forecast to 2023

Market Overview:

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.

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Market Analysis

Cosmetic and Personal Care Ingredients Market Share, Size 2019. The growth impeding the market demand of skincare are growing demand of anti-aging skincare products such as moisturizers, creams among young population and increase in spending on skincare products. However, in some of the Middle East countries such as UAE, the fragrance segment was dominating as the market value for fragrance products was considerably on the higher end as compared to other product segments, the resultant demand for fragrance products in the market has witnessed adjacent demand for ingredients used in fragrance products in the country. Furthermore, color cosmetic have gained market share owing to high demand for facial makeups, lipsticks and eyeliners among other products.

Key Players

·         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

·         DOGOIDE Group

Segmental Analysis:

Cosmetic & Personal Care Ingredients status 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.

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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.

In terms of application of these ingredients, the market is segmented into — skincare, hair care, fragrance, color cosmetics, bath & shower and other cosmetic products. The skincare segment is estimated to be the prominent revenue generating segment over other application segments.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.