Personal Care Products Market

Personal Care Products Market - Global
Industry Insights, Trends, Outlook and
Opportunity Analysis, 2018–2026
Personal care products are primarily used to help maintain and enhance personal
hygiene and physical appearance of an individual. These products are thus widely used
across every household, by people belonging to all age groups, genders, and ethnic
and economic status. Hygiene, the imperative to human health and wellbeing, is also
the precursor to several diseases such as tuberculosis and malaria. Increasing
preference for personal care products over the recent past is a result of increasing
consumer awareness about various hygiene-related diseases as well as the benefits of
such products to reduce risk of the spread of these diseases. This in turn, is boosting
growth of the personal care products market. Furthermore, rising health consciousness
among the populace over the recent past, is increasing inclination towards natural and
organic personal care products, owing to increasing awareness about the negative
health impacts of synthetic personal care products.
Major factors driving growth of the global personal care products market include
increasing consumer inclination towards enhancing and maintaining personal aesthetic
appeal, growing concerns regarding personal hygiene, and the growing retail industry.
However, high product costs as well as growing consumer inclination towards
homemade remedies such as honey wash, lavender cream, and homemade
toothpastes pose as major restrains to growth of the personal care products market.
Synthetic personal care products can cause a variety of health issues such as eye
irritation, skin rashes, hormonal issues, throat and nose infection, and in some cases
cancer. To tackle this issue, organizations such as the FDA are focusing on creating
and implementing guidelines regarding cosmetics production and usage. For example,
FDA implemented the 21 CFR Laws pertaining to cosmetics, in which a cosmetic
product is evaluated to determine its safety for consumer application. Such laws are
influencing several manufacturers to develop natural products, in turn, boosting market
growth. For example, Allnatural Cosmetics introduced a variety of natural personal care
products, including Paul Penders BB Cream, Lumino Teeth Brightener, and Lumino
Foot Butter.
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Personal Care Products Market Outlook – Rising Demand for Multifunctional
Personal Care Solution to Fuel Market Growth
Increasing number of consumers are seeking to simplify daily beauty schedules, owing
to their busy lifestyle. This has resulted in an increasing demand for multifunctional
personal care products, meaning one product suffices several cleansing needs. These
products offer various features such as cleansing, anti-aging, antioxidant properties,
miniaturization, and UV protection. This in turn, reduces the time spent on cleaning as
well as cost incurred by purchasing various products. 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. Increasing number of beauty conscious females as
well as increasing number of metrosexual males are increasingly being inclined towards
protecting and maintaining skin health. This in turn, is boosting growth of the market.
Also, large-scale advertisements promoting various products are further fueling market
growth. According to the Simmons National Consumer Survey (NHCS) based on the
U.S. Census data in 2016, around 1.35 million people spent over US$ 500 on skin care
products, in the U.S., the number for which is expected to increase over the forecast
period.
Asia Pacific is expected to be the fastest growing region in the global personal care
products market during the forecast period, owing to growing awareness regarding
personal hygiene, growing inclination towards men’s grooming products, and
burgeoning growth of the retail industry in the region.
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 global 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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Personal Care Products Market product type, distribution channel, and geography - Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2017–2025