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Charting the Landscape of the Personal Care Industry with Green Ingredients, Technology, and Beyond
Published Date : February 29, 2024 Category: Personal Care Industry
Published Date : February 29, 2024 Category: Personal Care Industry
The personal care industry stands at the forefront of consumer focus, closely monitored by regulatory bodies and environmentalists. Evolution is evident in both ingredients and technology, encompassing psycho-emotional elements, stress-relieving formulations, inclusivity, and a growing reliance on artificial intelligence. From hair care to skincare, the industry is undergoing a profound shift toward environmental consciousness, affecting both sourcing and production processes.
Anticipating a substantial surge, the global beauty and personal care market is poised for remarkable growth by 2027, with an estimated compound annual growth rate (CAGR) of around 5.5%. The cosmetics sector is the standout performer, expecting a remarkable CAGR exceeding 10%. Regional preferences vary, with face care and sun care emerging as leading segments globally, boasting CAGRs of 5% and 4%, respectively. The Asia Pacific (APAC) region takes the lead in expected demand, projecting a soaring CAGR of around 7% for sun care and over 6% for face care products.
ChemView Consulting recognizes the industry’s emphasis on both active and functional ingredients, each serving distinct roles in the final product. Active ingredients, responsible for producing desired outcomes, particularly in anti-aging products, exhibit a growth potential of around 7%. The dynamic innovations in this segment find increased demand in developed economies. Simultaneously, functional ingredients, essential for product functionality, are witnessing a consumer-driven focus on extending shelf life, primarily achieved through natural preservatives. In this realm, natural ingredients, such as plant-based extracts and oils, are outpacing synthetic counterparts, with the Asia Pacific region leading the global market.
Botanical or plant-based ingredients, often referred to as botanicals, have gained immense popularity due to their myriad benefits. Extracted from various plants, these ingredients, available in oil or extract forms, offer natural antioxidants that protect the skin against free radical damage, aid in cell repair, and stimulate collagen synthesis. The surge in popularity can be attributed to their effectiveness in slowing down skin degeneration processes.
ChemView Consulting recognizes the significance of companies like BASF, Ashland, Clariant, DSM, Provitol, and Seppic, actively involved in providing botanical substitutes for popular ingredients. Collaborations across the value chain have led to the introduction of innovative products. For instance, BASF’s Kerr Asylum, a plant-based ingredient derived from Silybummarianum, replaces animal keratin, exhibiting excellent moisturizing properties. Similarly, Berg and Schmidt’s natural emulsifier, thickener, and co-stabilizer, derived from oats, wood, and guar gum, demonstrates exceptional rheological properties.
The industry is witnessing a rise in the use of synthetic biology-based ingredients, offering a bio-based technology for creating or enhancing natural ingredients. Recognized for its environmental benefits, synthetic biology reduces resource consumption and waste generation, fostering a green and clean production process.
Polymers play a pivotal role in manufacturing high-performance personal care products, serving various functions such as film formers, thickeners, emulsifiers, preservatives, conditioners, and aesthetic enhancers. While synthetic polymers have been dominant, a noticeable shift towards natural polymers is underway due to changing consumer preferences and regulatory pressures.
Natural polymers, including polysaccharides, starch, xanthan gum, guar gum, carrageenan, and hyaluronic acid, offer biocompatibility, safety, and environmental friendliness. Semi-synthetic polymers, such as cellulose derivatives and proteins, bridge the gap between natural and synthetic polymers, providing advantages in cosmetic formulations.
Biopolymers, derived from living organisms/plants or synthesized from renewable resources, are gaining traction. Aliphatic polyesters like PLA and PCL, recognized for their biodegradability and biocompatibility, are being used to produce sustainable microbeads for cosmetics.
Regulatory bodies, such as the European Chemical Agency (ECHA), are actively addressing concerns related to polymers, especially microplastics, leading to a growing interest in sustainable alternatives.
The personal care industry is embracing sustainability through various initiatives, including plant-derived ingredients, sustainably sourced biopolymers, and natural preservatives. Packaging is also undergoing a transformation, with plant-based packaging gaining momentum, aligning with the industry’s commitment to environmental responsibility.
In conclusion, the personal care industry, under the guidance of ChemView Consulting, is navigating towards increased environmental friendliness and sustainability. Regulatory changes, consumer preferences, and collaborative efforts across the value chain are propelling the industry towards cleaner, greener products. The future promises continued evolution, with a steadfast commitment to sustainability at its core.
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