Transformative mega trends drive active ingredients market
With increasing concern over the use of certain chemicals, such as phthalates, consumers have shifted their preference to products with natural and safer ingredients.
Improving economic standards, the expanding share of working women, and growing consumer awareness regarding grooming are likely to drive the growth of personal care active ingredients in the future.
This is according to the latest report from ResearchAndMarkets.com, which identifies that the male grooming industry is ‘exploding’, with numerous products entering the market every year.
“However,” states the report, “this trend is in a nascent stage, especially in countries such as India, where the beauty industry is always synonymous with women. Hence, the demand for male grooming products is expected to be sustained over a long period, resulting in a growing demand for active ingredients.” ResearchAndMarkets.com notes that the availability of multiple distribution channels has not only helped consumers to get easy access to their brand of choice, but has also assisted the brand in increasing its user base. The current pandemic scenario has further strengthened the trend and importance of online buying. This will have a positive impact on new distribution channels on the cosmetic and active ingredients industry in the long run.
The report states that most companies are making a shift to plant-based active ingredients to capture the changing dynamics of the market, which has witnessed a 30% increase in products made from plant-based extracts.