Personal Care Products Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
Personal care products are the products that help maintain and enhance personal hygiene and physical appearance of the consumers. Personal care products are thus used widely, across every household, by people belonging to all age groups, genders, ethnic and economic status. Hygiene is one of the major factors contributing to health, and health being the basic necessity for human well-being has led to the emergence the personal care product market. . The last couple of years has witnessed a rapid shift in consumer preference towards natural and organic personal care products, mainly owing to growing health concerns regarding negative health impacts of using synthetic personal care products. The trend is especially prevalent in the U.S., Canada, U.K, Germany, and France. In recent times, China and India have emerged as major end users of organic personal care products, attributable mainly to strong economic growth and rising awareness among the populace. Manufacturers are focusing on producing bulk organic personal care products for these markets. For example, Organic Shop offers a variety of organic personal care product brands in India such as Asta Berry, Aarogyam Wellness and Azafran among others.
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The major factors driving the growth of global personal care products market are increasing consumer inclination towards enhancing and maintaining personal aesthetic appeal, growing concerns about personal hygiene, and burgeoning growth of the retail industry. Conversely, factors such as high product costs, growing consumer inclination towards homemade remedies such as honey wash, lavender cream, and homemade toothpastes among others are acting as a barrier to the growth of personal care products industry. Synthetic personal care products can cause a variety of health issues such as eye irritation, skin rashes, hormonal issues, throat and nose infection and even cancer. In order to mitigate these health issues, the U.S. FDA is continuously focusing on creating guidelines regarding cosmetics production and usage. For example, FDA implemented the 21 CFR Laws pertaining to cosmetics in which the evaluation of a cosmetic takes place to determine if it is safe for consumers. The manufacturers of personal care products have come up with new natural products, which are considered to be much safer for human usage. For example, Allnatural Cosmetics has introduced a variety of natural personal care products, including Paul Penders BB Cream, Lumino Teeth Brightener and Lumino Foot Butter. Asia Pacific is expected to be the fastest growing region in the global personal care products market during the forecast period, mainly owing to growing awareness regarding personal hygiene, growing awareness towards men’s grooming, and burgeoning growth of the retail industry.
Personal Care Products Market Outlook – Rising Demand for Multifunctional Personal Care Solution to Fuel Market Growth
Consumers are looking to simplify the daily beauty schedules owing to their busy lifestyle. As a result of this trend, demand for multifunctional personal care products is increasing at a rapid pace. These products offer various features such as cleansing, anti-aging, antioxidant properties, moisturization, and UV protection. In place of buying specific products for specific personal care applications, consumers are more inclined towards buying a single product that can be used for different personal care applications, which reduces the time as well as cost. For instance, Sana Pore Putty Keana Pate Shokunin, a Japan-based personal care products brand launched BB Cream Pore Tight Life SPF 50+ that offers multifunctional features. This product can be used as serum, makeup primer, sunscreen and concealer among others. Watsons Personal Care Stores based in China introduced Watsons Collagen Mineral BB Cream that contains minerals and fish collagen. This cream can be used as skin softener, moisturizer as well as brightener. The maximum consumers of skin care products are females, however, the increasing number of metrosexual males who are now embracing these products has increased over the years, as a result of the rise in need to protect and maintain skin health, and large-scale advertisements promoting products specially designed for male skin type. According to the Simmons National Consumer Survey (NHCS) based on the U.S. Census data in 2016, around 1.35 million Americans spent over $500 on skin care products. This amount is expected to increase during the forecast period.
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Product innovation is one of the key strategies adopted by the leading players in the personal care products market. Manufacturers are focusing on producing multifunctional personal care products and sachets to further enhance their market presence. Some of the major companies operating in the global personal care products market are Estee Lauder, Yves Rocher, The Body Shop, The Hain Celestial Group, L’Oreal S.A., Colgate-Palmolive Company, Johnson & Johnson, Unilever PLC, Avon Products Inc., Procter & Gamble, and Kao Corporation.
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