With a projected CAGR of 4.0%, the market for ingredients used in personal care products will grow from an estimated $11.79 billion in 2021 to $14.89 billion by 2027, according to a data from Marketsandmarkets.com, which has released a visual breakdown of the top 20 personal care ingredients companies with 360Quadrants that categorizes these players as leaders, contenders, innovators and emerging.

The evaluation was conducted on over 200 companies, with the top 20 categorized. Factors such as revenue, geographic presence, vendor's market share, and business strategies have been considered to evaluate the personal care ingredients quadrant. The top criteria for company evaluation were product type (emollients, surfactants, rheology modifiers, emulsifiers and conditioning polymers) and application (skin care, oral care, hair care and make-up), according to 360Quadrants and Marketsandmarkets. 

Additional Takeaways

According to the report, BASF SE, Ashland, Solvay, The Dow Chemical Company and Clariant are the key players of the market, accounting for nearly 30% shares of the personal care ingredients market.

Based on the ingredients type, the emollient segment accounted for the largest share in 2022 in terms of value. Emollients are expected to retain that position due to their wide applicability in various applications.

In terms of applications, the skin care segment accounted for a share of 34%, thereby dominating the personal care ingredients market. The hair care market is also expected to grow in the near future due to innovative developments taking place in the domain, according to the report.

Europe accounted for the largest share of 32% in the personal care ingredients market in 2022.