MENA/G.C.C./China cosmetic & personal care ingredient Market 2021: Industry Analysis, Opportunities, Technology, Demand, Top Players and Growth Forecast 2027

(Heraldkeepers via Comtex)

Report Ocean publicize new report on the MENA/G.C.C./China cosmetic & personal care ingredient market. The MENA/G.C.C./China cosmetic & personal care ingredient market report contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the MENA/G.C.C./China cosmetic & personal care ingredient market growth. Additionally, the database analyzes and estimates the MENA/G.C.C./China cosmetic & personal care ingredient market both globally and regionally.

The MENA/G.C.C./China cosmetic & personal care ingredient market is projected to grow at a moderate pace registering a CAGR of 5.5% during the review period.

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Chemicals are an integral part of the cosmetic and personal care industry, a wide range of chemicals are consumer across this industry globally. According to the properties and functions of these chemicals, it is consumed for manufacturing of different types of products such as surfactants, emulsifiers, emollients, and rheology modifiers to name some.

In processing of latter mentioned products, variety of chemical are consumed as raw materials such as tocopherol, dimethicone, parabens, titanium dioxide, sodium lauryl sulphate, sodium laureth sulphate, and formaldehyde among others, which are some of the most commonly used chemicals across the cosmetics and personal care industry.

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The MENA/G.C.C./China cosmetic & personal care ingredient market is projected to grow at a moderate pace registering a CAGR of 5.5% during the review period. Market impetus factors associated with the regional demand for cosmetic & personal care ingredient chemicals in MENA, G.C.C., and China are the bolstering growth of personal care and cosmetic industry in the aforementioned regions.

For instance, China accounts for nearly 10% of revenue generated by the global personal care industry, and is anticipated to exhibit growth rate of ~8% over the forecast period, owing to the factors such as rapid urbanization, rise in disposable income and changing lifestyle of people among others. Also, substantial spending on cosmetics & personal care products in middle east to boost personal care ingredients market. According to study, per capita spending on cosmetics and personal care products in the Middle East countries such as Saudi Arabia, UAE, and G.C.C. accounted for nearly USD 171, 335, and 240 respectively in 2015, and it is expected to increase substantially over the forecast period.

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Furthermore, the female population in the Middle East accounts for nearly 49-50% of total Middle East population coupled with high level of purchasing power, the woman population in the Middle East region tend to spend hefty sum on cosmetic and personal care products. However, various regulatory bodies active in the MENA, G.C.C., and China have imposed a stringent framework of regulations and compliance in order to ensure consumer safety. For instance, in 2013 Saudi Arabia Food & Drug Administration (SFDA) banned the use of eight shampoo brands in the market, owing to the presence of carcinogenic Dioxane, thus, hampering the growth of the market.

Regional Analysis
Geographically, the cosmetics & personal care ingredients market is fragmented among regions Middle East & North Africa, China and Gulf countries. Among all the regions China is estimated to be largest consumer of cosmetics & personal care ingredients owing to increasing demand of multi-functional ingredients, high demand of anti-aging products, and skin whitening products in cosmetics & personal care market.

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In terms of type of cosmetics, the skincare products accounts for nearly 37% market share of the overall China’s Cosmetics & personal care products market, of which, the skin lighting products are the most attractive product among other products growing at a rapid pace registering double digit growth rate. Thus, subsequent demand and healthy growth of cosmetics & personal care market in China has witnessed substantial demand for cosmetic chemicals in the region placing China as the top consumer and producer of cosmetic grade chemicals.

The Saudisation programme aimed at replacing the foreign workforce in Saudi Arabia by the Saudi nationals to eradicate unemployment from the country has led to more Saudi men joining the workforce. Thus, the increasing Saudi men in the workforce coupled with substantial spending on male centric grooming products will witness increasing demand for male centric cosmetics.

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Segmentation
MENA/G.C.C./China Cosmetic & personal care ingredients market is majorly segmented on the basis of Type, End Use and Region. On Basis of Type, MENA/G.C.C./China cosmetic & personal care ingredients market is segmented into tocopherol, dimethicone, parabens, titanium dioxide, sodium lauryl sulphate, sodium laureth sulphate, formaldehyde, benzones, isopropyls, glycerols, others. Based on end use, cosmetic & personal care ingredients is segmented into skincare, hair care, bath & shower, colour cosmetics, fragrance, others. Based on region market is divided into Middle East & North Africa, China and Gulf Countries including Saudi Arabia, Kuwait, Oman, Qatar, Bahrain, and UAE.

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Key Players
Key players of the MENA/G.C.C./China Cosmetic & personal care ingredients market are Sabic, Artec Chemical Company Limited, Dongming Jujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Chemanol and DOGOIDE Group among others.

Geographic Analysis
The report covers brief analysis of geographical region such as:
> Middle East & North Africa
o Turkey
o Israel
o North Africa
o Rest of MENA
> G.C.C.
o Saudi Arabia
o Kuwait
o Oman
o Qatar
o Bahrain
o UAE
> China

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COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the MENA/G.C.C./China cosmetic & personal care ingredient market also experienced a slowdown. Statista estimates that the MENA/G.C.C./China cosmetic & personal care ingredient industry’s total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the MENA/G.C.C./China cosmetic & personal care ingredient industry generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the MENA/G.C.C./China cosmetic & personal care ingredient market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

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Key Findings
MENA/G.C.C./China cosmetic & personal care ingredients market is projected to reach USD 2,209.5 million in 2023 with a CAGR of 5.5%. China accounted for largest share due to easy availability of raw material, lower labor cost and increasing per capita spending on the cosmetics and personal care products in the country, increasing demand of multifunctional products leading to specialty ingredients demand boost. China dominated the market accounting for 66% value share, followed by MENA and G.C.C. China is the fastest growing region in cosmetic & personal care ingredient chemicals market registering a CAGR of 5.89% during the review period. Formaldehyde as an ingredient accounted for the largest market share in 2016 and is expected to continue its dominance during the forecast period owing to its usage as preservatives and additives in personal care & cosmetic products.

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Intended Audience
> Cosmetics & Personal Care manufacturers
> Traders and distributors of Cosmetics & Personal Care
> Production Process industries
> Potential investors
> Raw material suppliers
> Nationalized laboratory

DC -Description
> D alpha tocopherol
> Dimethicone lotion
> Dimethicone silicone
> Titanium oxide powder
> Titanium sunscreen
> Personal care products
> Formalin solution
> Organic sunscreen

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Key questions answered in the MENA/G.C.C./China cosmetic & personal care ingredient market report are:

How does a global company acquire markets? What are its core strategies and policies?What factors will influence the MENA/G.C.C./China cosmetic & personal care ingredient market over the forecast period?What are the factors driving and restraining the market for MENA/G.C.C./China cosmetic & personal care ingredient?What are the leading competitors in the global market?Which region is growing at a higher pace in the global market?

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COMTEX_397755670/2582/2021-11-26T02:24:09