Personal care products are made up of special ingredients. Special ingredients are classified into Inactive ingredients and Active ingredients. Inactive ingredients include preservatives, surfactants, polymers and colorants. Active ingredients include conditioning agents, UV ingredients and anti-aging materials.
Global expertise in the personal care market is divided into biotechnology products, plants, marine components, enzymes, coenzymes, proteins and peptides. The biotechnology product segment includes hyaluronic acid and ceramides.
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The plant segment is further subdivided into unproven extracts and proven actives. The marine component is composed of algae extract and chitosan. The protein and peptide segments are divided into plant, biological, and synthetic peptides.
Based on the application, the global specialty actives in the personal care market are categorized into anti-aging, anti-acne, anti-inflammatory, slimming, sunscreen and whitening ingredients.
Geographically, North America and Europe dominate the global expertise of the personal care market. The United States is the largest market for personal care specialty actives, followed by Canada in North America. In Europe, France, Germany, Spain, Italy and the United Kingdom, it holds a major share of specialty actives in the personal care market.
However, Asia is expected to be a global specialty active in the personal care market and show high growth over the next five years due to the rapid urbanization of the region. In addition, the availability of international personal care brands is driving the growth of specialty actives in the Asian personal care market. Japan, China and India are expected to be the fastest growing specialty actives in the Asian personal care market.
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In recent years, the increase in disposable income spent on personal care and the increasing number of skin specialists are some of the major drivers of global specialty actives in the personal care market. In addition, improved lifestyles and increasing social pressures in modern life are contributing to the growth of global specialty actives in the personal care market.
However, complications associated with the use and regulatory hurdles of personal care products are some of the key constraints of global specialty actives in the personal care market. In addition, high R & D investment in the manufacture of active ingredients is also hampering the growth of specialty active ingredients worldwide in the personal care market.
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Major global specialty companies active in the personal care market include Johnson & Johnson, Samsung, Pfizer and P & G.