Personal care products to drive growth for Cosmetic Chemicals Market in US: TechSci report

Cosmetic chemicals market revenues in the US are expected to grow at a compound annual growth rate (CAGR) of 2.7% during the next five years driven by personal care products, according to a report from the TechSci Research.

The increase in Hispanic population, aging baby boomers and rising demand for luxury personal care brands are also expected to drive the demand for cosmetic chemicals in US until 2019.

According to the report, the cosmetic chemicals are the main ingredients in personal care products and their demand has also been increasing due to growing number of new multi-functional product launches.

The report also reveals that the use of personal care products is growing due to rising demand for sun care and other skin and hair care products in the country.

Of the total cosmetics chemicals market, the surfactants and conditioning polymers are expected to have majority share in the cosmetic chemical ingredients consumption in the country.

TechSci research director Karan Chechi said: "In the country’s cosmetic chemicals market, surfactants account for a significant share in terms of volume, due to their high demand from hair care cleansing market.

"Active ingredients, in particular, are expected to drive the market during the next five years on account of growing demand for multifunctional products."

"Moreover, growing male grooming segment would further boost the consumption of cosmetic chemicals in the country," Chechi added.

The report also states that the cosmetic chemical manufacturers such as L’Oreal and Estee Lauder are using latest technologies and bio-based products to meet the increasing needs for anti-aging, anti-wrinkle and sun protection products.