LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global personal care ingredients market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Brijesh Kumar Choubey, a lead analyst from Technavio, specializing in research on cosmetics and toiletry sector says, “The demand for personal care ingredients is driven by consumers' rising disposable income and their increased awareness of the benefits of using better quality skin care, hair care, and oral care products. The rising pollution level in several countries is another factor driving the skin care and hair care product segment.”
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The top three emerging market trends driving the global personal care ingredients market according to Technavio research analysts are:
- Growth from natural ingredients and organic personal care market
- Growing demand for multi-functional products
- Halal cosmetics growth prospect
Growth from natural ingredients and organic personal care market
The growth of natural and organic personal care products is rising rapidly and is expected to continue at this pace during the forecast period. This growth can be attributed to the awareness among consumers about various side-effects caused by using chemical-based synthetic products. Increased realization of the advantages of personal care products made of organic ingredients, such as almond, palm, jojoba, etc. is a key driver of the global personal care ingredients market.
In recent times, most organic products come with certifications proving that they are made of organic ingredients and do not contain ingredients such as phthalates, parabens, aluminum salts, and petrochemicals. These certifications are helping to drive the sales of these products sales as consumers have more faith in certified products.
Growing demand for multi-functional products
The rising demand for multifunctional personal care products is an important driver of the global personal care ingredients market. Personal care and beauty products that offer multiple benefits are popular in the market, especially among consumers who have busy schedules and are cost conscious. Therefore, they opt for streamlined solutions. Thus, manufacturers are focusing on developing products that perform at least two functions. For instance, UV protection products, which can also be used as makeup are a commonly used multi-functional product.
Therefore, with the growing demand for personal care products with multiple benefits, the demand for personal care ingredients is also on the rise. This is expected to drive the growth of the market significantly during the forecast period.
Halal cosmetics growth prospect
Halal cosmetics do not contain animal-derived ingredients and alcohol content, and are subject to halal regulation. Hence, they are considered pure and relatively hygienic compared with regular cosmetics. Increased awareness among the young Muslim population about their religious obligations and set practices has also added to the widespread awareness of halal cosmetics, especially in countries with a large Muslim population base.
“Consumers are gaining confidence in various beauty care products with an increase in halal branding by vendors. This is driving the growth of the global halal cosmetics market, including the global personal care ingredients market,” says Brijesh.
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