Personal care products are composed of specialty ingredients. Specialty ingredients are classified into inactive ingredients and active ingredients. Inactive ingredients include preservatives, surfactants, polymers and colorants. Active ingredients comprise conditioning agents, UV ingredients and anti-aging materials.
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The global specialty actives in personal care market is segmented into biotechnology products, botanicals, marine ingredients, enzymes and co-enzymes and proteins and peptides. The biotechnology product segment includes hyaluronic acid and ceramides. The botanical segment is further sub-segmented into unsubstantiated extract and substantiated actives. Marine ingredients comprise algae extracts and chitosan. The protein and peptide segment is segmented into botanical, biological and synthetic peptides.
Based on application, the global specialty actives in personal care market is categorized into anti-aging, anti-acne, anti-inflammatory, slimming, sun protection and skin whitening ingredients.
In terms of geographic, North America and Europe dominates the global specialty actives in personal care market. The U.S. represents the largest market for specialty actives in personal care followed by Canada in North America. In Europe, France, Germany, Spain, Italy and the U.K. holds major share of specialty actives in personal care market. However, Asia is expected to show high growth rates in the next five years in global specialty actives in personal care market due to rapid urbanization in the region. In addition, availability of international personal care brands has also fueled the growth of specialty actives in personal care market in Asia. Japan, China and India are expected to be the fastest growing specialty actives in personal care markets in Asia.
In recent time, rising disposable income to spend on personal care and increasing number of skin specialists are some of the major drivers for the global specialty actives in personal care market. In addition, improving life styles and growing society pressures of modern living are also contributing in the growth of global specialty actives in personal care market. However, complications associated with the usage of personal care products and regulatory hurdles are some of the major restraints for the global specialty actives in personal care market. In addition, high R&D investment in manufacturing of active ingredients is also hampering the growth of global specialty active ingredients in personal care market.
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Some of the major companies operating in the global specialty actives in personal care market are Johnson & Johnson, Samsung, Pfizer and P&G.