The global personal care ingredients market size is projected to reach $14.9 billion by 2027, according to a report by Markets and Markets.
That would represent a compound annual growth rate of 4% on the $11.8 billion global market value in 2021, the Indian research firm said.
The report states emollients are the largest ingredient type of personal care ingredients market.
Skin care is estimated to be the largest application of the personal care ingredients market during the forecast period.
Europe is the largest market for personal care ingredients, followed by Asia Pacific and North America, in terms of value.
Higher disposable income of the consumers and demand for premium cosmetic products drive the market in the region.
Moreover, an increase in the manufacturing of personal care products is on the rise in Europe, and this is expected to continue during the forecast period.
Middle East & Africa is projected to be the fastest-growing market for personal care ingredients during the forecast period.
