There is a discernable rise in awareness pertaining to hygiene and sanitation, and it is coupled with the population outflow which is creating opportunities in the EMEA personal care market along with the cleaning chemicals market that are poised to have a lucrative market size of 136,828.68 million Euros in 2023 as the demand will grow with a compound annual growth rate (CAGR) of 3.56% during the forecast period of 2018 to 2023. These are some of the findings of a recent business intelligence report by IndustryARC that has well-marshaled facts and statistics with challenges and opportunities in the EMEA personal care and cleaning chemicals market. The report is titled, “EMEA Personal Care and Cleaning Chemicals Market: By Type, By Application & Geographic Analysis – Forecast (2018-2023)”.
EMEA Personal Care Market and Cleaning Chemicals Market: Leading Segments
According to the findings by IndustryARC’s market analyst, Europe was the most dominant region in the EMEA personal care market and cleaning chemicals market with the highest revenue share of 74% in 2017. This is much attributed to the robust economies in the region and the perceptibly growing demand for organic personal care products in the region. Furthermore, due to the rise in disposable personal income in most part of Europe including France, Italy, Germany, and Great Britain, the personal care and cleaning chemicals market is making strides in the region. The report by the analyst also documents the market share of personal care products in the Middle East and African countries along with the growth opportunities.
The EMEA personal care market is segmented on the basis of sun, oral, skin, and body care products. Perfume, decorative cosmetics, and hair care products are also personal care products that are gaining a lot of traction in EMEA. Collectively, the key product in the EMEA personal care and cleaning chemicals market is found to be skin care products which will have an impressive market size of 23,077 million Euros in 2023. Additionally, the household cleaning chemicals market are projected to observe a modest CAGR of 4.59% through 2023, and the market size will reach 36,777 million Euros.
EMEA Personal Care and Cleaning Chemicals Market: Market Trends and Growth Drivers
EMEA Personal Care Market –
- The Growing Per Capita Income –
The major driving force in the EMEA personal care market happens to be the growing per capita income in African countries such as Kenya, Uganda, and Tanzania which is leading to opportunities in the market which was rather untapped in the region owing to poverty. Furthermore, the economies in Europe enables the residents to spend on personal care products, which drives the market in the region.
- The Climatic Conditions –
The countries in Africa and the middle-east have warm temperatures because of which residents buy personal care products to protect their face from the heat. On the hand, the colder regions of Europe leads to dry skin and hair-loss which creates a market for personal care products such as cream and professional hair care products.
- The Prevalence of Male Grooming –
Previously, the personal care market was driven mainly by the female customer-base. However, in the last two decades, the male grooming is gaining grounds in the middle-east countries which is driving the personal care market in the region. Furthermore, this trend is proliferating in the parts of Europe where the professional hair care market is proving to be lucrative.
- Europe’s R&D Leadership –
There has been an emphasis on consumer’s safety which is also regulated by the government. So, Europe is observing continuous R&D in the market in order provide safer and better products.
EMEA Cleaning Chemicals Market –
- Ecofriendly Cleaning Chemicals –
The growing health and environmental concerns pertaining to cleaning chemicals is leading to new innovations in Europe. 2.3% turnover of the cleaning industry in Europe is invested in the R&D purpose. The leadership of Europe in cleaning chemicals R&D is quite evident in the fact that there are 15 major innovation centers in the region as documented by the International Association for Soaps, Detergents and Maintenance Products (AISE).
- The SMME Businesses In the Middle East & Africa Driving the Market –
There is a lot of blooming business that operate in the cleaning chemicals market in the Middle-East and Africa. Evidently, these business are providing household and commercial cleaning chemicals to customers at a very affordable price, which makes it fairly affordable for people to purchase. This is leading to an increase in the cleaning chemicals market revenue.
EMEA Personal Care and Cleaning Chemicals Market: Competitive Landscape
Some of the key companies identified in the market intelligence report that are currently holding majority shares in the EMEA personal care and cleaning chemicals market are BASF, DowDuPont, Solvay SA, Akzonobel N.V., Symrise AG, Lanxess AG, Royal DSM, Ashland Global Holdings Inc., Evonik Industries, and Wacker Chemie AG.
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a) Personal Care and Cleaning Chemicals Market
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