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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With the increase in awareness regarding the harmful effects posed by synthetic chemicals, consumers are now abstaining from using chemical infused products.
This led to an increase in awareness among consumers across the globe, resulting in an increase in the demand for natural products.The organic and bio-based beauty boom is part of the recent shift in consumer awareness about wellness, health, and the environment.
In addition, due to a growing number of social media influencers and beauty blogs, awareness, and easy availability of information regarding the toxin-free ingredients has significantly risen.
This is pushing the growth of the adoption of bio-based cosmetics and personal care ingredients market globally.Supply chain analysis refers to an approach of analyzing organizations, people, information, activities, and resources engaged in changing a product or service from supplier to end-user.
The supply chain of bio-based cosmetics and personal care ingredients consists of different stages:Stage 1: Raw Material Provider for Bio-Based Cosmetics and Personal Care IngredientsThis stage includes the raw material provider for bio-based cosmetics and personal care ingredients.
Raw materials which are used for the manufacturing of bio-based cosmetics and personal care ingredients are derived from plant and animals.
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