The Personal Care & Cleaning Chemicals Market size is estimated to reach US$24.6 billion by 2027, after growing at a CAGR of 8.8% during the forecast period 2022-2027. Personal Care & Cleaning Chemicals such as hypochlorite (bleach), alcohols, acid cleaners and alkalis are substances that are used for personal hygiene and cleaning. The rising consciousness of consumers about their appearance is one of the primary factors driving the market expansion. According to Invest India, the personal hygiene market is expected to reach $15 billion by 2023. 

Personal Care & Cleaning Chemicals Market: The Personal Care Chemicals Industry Leads the Market

On the basis of the application, the Personal Care & Cleaning Chemicals market can be segmented into personal care chemicals and cleaning chemicals. During the forecast period 2022-2027, the personal care chemicals segment is expected to grow at a CAGR of 9.3%. Growing awareness of skin challenges, the desire to maintain an even skin tone, the demand for anti-aging skin cosmetics and the desire to look beautiful and youthful are the major factors driving product sales. They are also allowing for deeper penetration and expansion into newer markets. According to the International Trade Administration, Mexico's total cosmetic sector output increased from $7.10 billion in 2018 to $7.15 billion in 2019. According to Cosmetic Europe, the personal care and cosmetics industry grew by 1.3% in 2018 compared to 2017.

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Personal Care & Cleaning Chemicals Market: Asia-Pacific Holds the Largest Market Share

On the basis of geography, the Personal Care & Cleaning Chemicals market can be segmented into North America, South America, Europe, APAC and ROW. According to IndustryARC’s analysis, Asia-Pacific has emerged as the most profitable region in the market. In 2022, the Asia-Pacific region held a 32.8% share of the total revenue earned by the market globally. Asia-Pacific countries including India and China are ahead comparatively in terms of consuming cosmetics products. Personal care is rapidly expanding in Asia-Pacific as a result of rapid technological development, product innovation and growing consumer preference. According to the India Brand Equity Foundation (IBEF), the beauty, cosmetics and grooming market in India would grow to US$20 billion by 2025, from US$6.5 billion in 2015. The Personal Care & Cleaning Chemicals market would also gain demand from the North American region. The U.S. and Canada are emerging as competitive countries in the Personal Care & Cleaning Chemicals market.

Personal Care & Cleaning Chemicals Market: Competitive Landscape

Key companies holding major shares in the Personal Care & Cleaning Chemicals market are Lubrizol Corporation, Evonik Industries AG, the Dow Chemicals Company, Clariant AG, Ashland Inc., Huntsman Corporation, BASF SE, The Body Shop International PLC, Amway Corporation and Bare Escentuals Beauty Inc.

R&D Investments

In April 2022, Belviso announced the arrival of its premium skin care products in India. Belviso Vitamin C Serum, Belviso Multi-Acid Serum, Belviso Niacinamide Serum, Belviso Total Nano Gel and Belviso Transformation Cream would be available first.

In January 2021, Superpristine introduced Yuzol cleaning products. The product line includes liquid detergent, floor cleaner, glass cleaner, dish wash gel, de-scaler powder and handwash.

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.