North American personal care ingredients market is expected to project a CAGR of 2.7%, during the forecast period. North America is major market for skincare products, particularly in the US, which contributes significantly to the growth of the personal care ingredient market in the region. North America is one of the strongest economies across the globe, comprising more than 21.3% of the global economy as per the International Monetary Fund in 2019. The economic strength and research related to the formulation of new ingredients for personal care products in North America provide a solid platform for the growth of the regional market. The growing investment by major market players operating in the region in research related to the formulation of multifunctional ingredients is another major factor driving the growth of the regional market.

North American personal care ingredients market is segmented on the basis of ingredients and application. Based on ingredients, the market is segmented into rheology control agents, surfactants, emollients, active ingredients, emulsifiers, and others. Based on application, the market is further classified into hair care, oral care, skin care, cosmetics, and others (fragrances and toiletries). Among these applications, the skin care segment is among the major application of personal care ingredients. The rising availability of specific-purpose skin care solutions, such as anti-aging creams and lotions, sunscreen lotions, and anti-acne creams is driving the growth of the market in skin care application.

Geographically, North America personal care ingredients market is segmented into the US and Canada. The US accounted for major share in the market in 2019 due to the presence of key personal care product manufacturers and high spending of consumers on cosmetics products. The Canadian personal care ingredients market tends to grow at a fastest CAGR of around 4.6% during the forecast period. The major factors attributed to the fastest growth of Canada in the market includes the rapid expansion of production units of the personal care ingredients market players in the Canadian region.

Furthermore, some of the key players in the market include BASF SE, Clariant International Ltd., The Dow Chemical Co., Evonik Industries AG, Solvay S.A. These companies are using several strategies to expand market share and gain a competitive advantage over their competitors. The strategies include new product launches, mergers and acquisitions, partnerships, and collaborations. For instance, in March 2020, Clariant International Ltd. launched a next-generation preservation booster Velsan Flex to cater to the requirements of the personal care industry’s increasingly limited preservation options for both traditional and natural formulations. Velsan Flex is highly versatile and effective in combination with all preservative types, enabling a reduction of typical preservatives by as much as 50% while still achieving safe antimicrobial protection for a range of cosmetic products.

Research Methodology

The market study of the North American personal care ingredients market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Authentic public databases 
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalogue.

The report is intended for manufacturers of personal care products and ingredients for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models. 

Market Segmentation:

1. North American Personal Care Ingredients Market Research and Analysis by Ingredients
2. North American Personal Care Ingredients Market Research and Analysis by Application

The Report covers:

• Comprehensive research methodology of the North American personal care ingredients market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American personal care ingredients market.
• Insights about market determinants which are stimulating the North American personal care ingredients market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.