China Cosmetics Personal Care Ingredients Market | Top Global Companies Strategy, Growth Drivers, Revenue Generation | Top 10 Key Players & Forecast to 2030
Increasing demand for beauty products combined with demand for ingredients that add novel advantages to products are the driving factors for the growth of MENA/G.C.C./China cosmetic & personal care ingredients market. Both chemically synthesized and naturally derived ingredients have witness increased consumer demand and stringent regulations regarding safety of cosmetic ingredients has further helped in shaping MENA/G.C.C./China cosmetic & personal care ingredients market. Incidentally the market is expected to record a CAGR of 5.5% by 2027.
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Competitive
Landscape:
Some of the main players in the MENA/G.C.C./China
Cosmetic & Personal Care Ingredients Market include SABIC, Dongming
Jujin Chemical Co., Chemanol, Artec Chemical Company Limited, Ltd., Reza
Chemical Industries, Ittihad International Chemicals Trading LLC and DOGOIDE
Group.
As the middle class population continues to
grow in the concerned region, spending on hair care, skincare, fragrance, bath
and shower products has burgeoned thus bolstering growth of cosmetic industry.
MENA/G.C.C./China cosmetic & personal care ingredients market has to deal
with certain hurdles in the coming times such as need for halal certification
in the Middle East, increasing restriction on chemical usage in cosmetics in
China and the ever changing regulatory landscape in the region. But as growth
opportunities for cosmetic & personal care ingredients market players are
immense, they are developing novel means of surpassing such hurdles and
strengthening their market foothold.
Segmentation:
MENA/G.C.C./China cosmetic & personal
care ingredients market is classified by type, end user and region.
By type, MENA/G.C.C./cosmetic &
personal care ingredients market is divided into dimethicone, tocopherol, sodium
lauryl sulphate, titanium dioxide, benzones, sodium laureth sulphate,
parabensformaldehyde, glycerols, isopropyls and others. The formaldehyde market
segment is estimated to account for nearly 16.87% market share which is more
than any other ingredients.
On the basis of end user MENA/G.C.C./China
cosmetic & personal care ingredients market comprises hair care, skincare, color
cosmetics, bath & shower, fragrance and others. The skincare segment is anticipated
to emerge as most prominent revenue generating avenue in the cosmetic and
personal care ingredients market over the coming years. Increasing concern
about skin lightening among the consumers in the concerned region is
anticipated to drive the segmental expansion over the forecast period.
Regional segmentation of cosmetic &
personal care ingredients consists of Middle East and North African countries
as well as China and Gulf Countries such as UAE, Bahrain, Qatar, Oman, Kuwait
and Saudi Arabia.
Regional
Analysis:
Cosmetics & personal care ingredients
market is fragmented geographically as Middle East & North Africa, China
and Gulf countries.
China is known to be the nation with the
largest consumer base in cosmetics & personal care ingredients market as
there has been a noted rise in demand in the country for anti-aging products,
skin whitening products and cosmetics with multi-functional ingredients. It has
been estimated that skincare and hair care products account for nearly half of
the cosmetics market revenue generated in China. As such, China cosmetics &
personal care ingredients market is anticipated to record a CAGR of 5.89% over
the forecast period.
Turkey cosmetics & personal care
ingredients market is expected to expand exponentially as the country is major exporter
of hair care and bath and shower products and has a large manufacturing base
for cosmetics & personal care products. Turkey exports in considerable
volume to North Africa and other Middle Eastern countries as well as to
European countries. As a result, MENA cosmetics & personal care ingredients
market is anticipated to record a comparative low market share over the
forecast period.
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G.C.C. cosmetics and personal care market is
anticipated to expand at a CAGR of 5% over the forecast period. The fragrance
segment accounts for substantial value share in the cosmetics market in UAE,
which is followed by the skincare segment. Increasing trend for halal
certification is expected to shape cosmetics & personal care ingredients
market in the region over the coming years. However, stringent regulations
restricting the application of hazardous ingredients in countries namely, Saudi
Arabia and UAE is hampering the market growth.
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