Skin comprises an imperative and major part of our body. It represents the health of your body internally and externally. While many turn a blind eye towards skin care in today’s busy life, the personal care industry is putting efforts towards development of effective products for maintaining skin beauty and health. With application of delivery system, active ingredients are delivered to defined areas of skin organ, which enhances performance of cosmetic products by stabilization of active ingredients on skin surface. The global delivery system of personal care records a value worth US$ 345,287.3 thousand in 2014. PMR indicates that the value is projected to reach US$ 543,373.2 thousand by 2020-end. During the forecast period 2014 to 2020, the market is expected to expand at a CAGR of 7.8%.
Harmful effect of ultra-violet (UV) radiation, increasing prevalence of various skin diseases, and disposable income leading to surge in expenditure on personal care products are primary factors estimated to contribute to growth of the market. A range of personal care products are offered particularly for wrinkled and unhealthy skins for the aging population. Range of products offer skin care solutions according to varying skin types such as dry, oily or all skin types. Attributed to such factors, the market is predicted to grow significantly in the span of next six years. In addition, with emerging parlors, health care centers, dermatological clinics and such institutes, demand for personal products has relatively escalated. Surge in application of personal care products in such clinics and parlors is further increasing awareness among population of varying age groups. In fact, customers who are victims of various skin diseases are prescribed particular products for skin care, owing to their healing attributes. Such factors fuel demand for range of personal care products, which in turn boosts growth of the market throughout the forecast period.
However, stringent regulatory requirements for approving cosmetic ingredients are projected to inhibit growth of the market. If personal care products are not properly labelled, or comprise of incorrect or strong ingredient, it could adversely affect health of customers. These factors are anticipated to hinder adoption of solutions offered by personal care products and further restrain growth of the market over the forecast period.
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On the basis of revenue, Europe is estimated to dominate the market owing to increasing aging population. Furthermore, rising awareness regarding delivery system process is further fueling demand for personal care product, which in turn is predicted to contribute significantly to growth of the global delivery system of personal care market in the span of next six years.
On the basis of region, Europe is a dominant market in the global delivery system of personal care market, due to surge in aging population, which significantly contributes towards growth of the market during the forecast period. On the same note, growing awareness regarding therapeutic applications of delivery system is another significant factor expected to contribute towards growth of the delivery system of personal care market in Europe. Owing to availability of advanced personal product and rise in aging population in North America, the delivery system of personal care market is projected to witness boost in growth of the market in the upcoming years. Moreover, rising awareness regarding application of such personal care products for hair and skin treatment contributes to growth of the market over the forecast period. Asia accounts for fastest growing region in the global delivery system for personal care market, owing to surge in disposable income, and rise in geriatric population in the region. Furthermore, increasing awareness regarding various skin diseases and local allergies, which deter health of our skin in various countries of Asia is estimated to rev up growth of the market in the near future.
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Salvona Technologies Inc., Air Products and Chemicals, Inc., BASF SE, and Lipotec SAU are some leading players of the global delivery system for personal care market. Other major players include Centerchem Inc., Croda International Plc, Mineral Technologies Inc., Lonza Group Ltd., International Flora Technologies Ltd., Lipo Chemical Inc., Glenn Corporation, Clariant International Ltd., and Unipex Group Inc.
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