The Global Personal Care Products Market Is Witnessing High Growth Owing To the Increasing Developments by Key Players in the World

 

Personal Care Products
Personal Care Products

Personal Care Products Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028.

Market Overview:

A personal care product (PCP) is any item used for personal hygiene. Examples of PCPs include cosmetics, make-up, hair dyes, soaps, shampoos, deodorants, and toothpaste. The average daily use of personal care products is six to twelve items. There is no specific law regulating the ingredients of personal care products, but some may fall under other categories, such as drugs or cosmetics. Some of the chemical ingredients in personal care products are suspected of causing adverse effects, including allergies, asthma, and cancer. However, not all synthetic ingredients are harmful.  Several studies have investigated the effect of using various personal care products. Results have varied by the types of personal care products studied. These include cosmetics, hair straightening creams, and whitening creams. Individuals of different races, ethnicities, and age groups have reported differing patterns of personal care product use.

Competitive Landscape:

Major players operating in the global personal care products market include Kao Corporation, Procter & Gamble, Avon Products Inc., Unilever PLC, Johnson & Johnson, Colgate-Palmolive Company, L’Oreal S.A., The Hain Celestial Group, The Body Shop, Yves Rocher, and Estee Lauder.

Key Market Drivers:

Increasing developments by key players in the global personal care products market are expected to augment the growth of the market. For instance, in February 2020, Dow displayed a sustainable beauty formulation called ACULYN rheology modifiers. The majority of studies examined the effects of using one or a combination of personal care products. The effects of these products may include an alteration in the structure of the ecosystem, alterations in steroid and pheromone levels, and changes in bacterial populations. Whether or not these effects are permanent is unclear. Moreover, the high demand for personal care products among consumers is estimated to enhance the growth of the global personal care products market.

Covid-19 Impact Analysis:

During the COVID-19 pandemic, there have been several challenges in the consumer product sector. However, the gradual launch of new products and acquisitions in the market is boosting the growth of the global personal care products market. For instance, in June 2020, BTC Europe and BASF SE collaborated in order to create an advanced care portfolio.

Key Takeaways:

·         North America is expected to dominate the growth of the global personal care products market, owing to the high rate of developments done by key players in the region. For instance, in April 2021, Ashland Global Specialty Chemicals Inc. acquired Schülke & Mayr GmbH's personal care business.

·         The Asia Pacific is estimated to witness high growth in the global personal care products market, owing to the increasing expansion of several key market players in the region. For instance, in May 2022, Shoppers Stop and Estée Lauder established an exclusive SS Beauty store in Mumbai, India.

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