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Report Overview: Elastomer Gel In Personal Care MarketThe global elastomer gel in personal care market size was valued at USD 124.06 million in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 3.6% from 2021 to 2027. Growing awareness about the benefits of using personal care products, increasing adoption of men’s grooming products, and changing lifestyles are significantly driving the growth of the personal care market globally. Elastomer gels are widely used in personal care products such as sun care, skin care, hair care color cosmetics, and antiperspirants. Properties such as non-greasy, improved rheology, adhesion, transfer resistance, water repellency, and quick absorption, are significantly driving the product demand in the personal care market. In 2019, the U.S. accounted for a maximum share in North America market for elastomer gel in the personal care industry with 80.69% revenue share. Growing demand for skincare products owing to rising pollution levels, hectic work schedules, and outdoor traveling along with high disposable income is expected to create huge demand for elastomer gel in personal care in the forthcoming years. Moreover, increasing demand for anti-aging products owing to the rising awareness about product benefits, growing concerns over looking young, and high purchasing power are some of the factors expected to fuel the growth of personal care industry in the U.S. Furthermore, the rising demand for men’s grooming products in the country is anticipated to propel the overall market growth. Thus, the growing personal care market in the country is anticipated to augment the demand for elastomer gel over the forecast period 2021-2027. The U.S. personal care market is characterized by the presence of several prominent product manufacturers such as Coty, Inc.; Procter & Gamble; and Revlon, Inc.
Regional Insights: Elastomer Gel In Personal Care MarketThe European region accounted for the largest market share of over 40% both in terms of value and volume in 2019 owing to the presence of a large number of personal care companies involved in the designing, development, and production of personal care products. Europe is a leading market in terms of innovation, design, and R&D and has extensive distribution channels. Robust personal care manufacturing base in U.K., France, and Germany is expected to be a favorable factor for the market, which, in turn, is likely to create a huge demand for elastomer gel in the forthcoming years. Asia Pacific elastomer gel in personal care market is anticipated to witness the fastest CAGR of over 5% during the forecast period. Growing personal care market in countries such as India, China, Japan, South Korea, Australia, and others is prominently fueling the regional product demand. Japan led the market in 2019, in terms of both volume and revenue. Asia Pacific personal care industry has been attracting significant investments from leading companies. The availability of cheap labor and proximity to raw material suppliers are further luring investors to the region. China and India are expected to majorly fuel the growth owing to the large population in these countries. There has been a significant rise in the middle-class population in countries such as Indonesia, Vietnam, and Malaysia. These consumers aspire to the quality and sophistication that are offered by premium personal care products.
Key Companies & Market Share Insights: Elastomer Gel In Personal Care MarketThe global market is found to be significantly fragmented in nature owing to the presence of many large, medium, and small scale players. These companies face intense competition from each other as well as from regional players, who have strong awareness of regulations and suppliers in the markets. Prominent players involved in the marketplace are continuously engaged in merger & acquisition activities along with the expansion of manufacturing facilities, investments in research & development activities, product quality offered and technology used for the production of elastomer gel for personal care products. For instance, in February 2019, Wacker Chemie AG showcased eco silicone elastomer gel at the 2019 PCHi trade show held in Guangzhou, China. This product innovation enabled the company to offer by bio-based elastomer gel and have a competitive edge over the others. Some of the prominent players in the elastomer gel in personal care market include:
Key companies Profiled: Elastomer Gel In Personal Care Market Report
Table of Contents Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research scope and assumptions 1.3 Information Procurement 1.3.1 Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2 IFF Internal Database 1.3.3 Secondary Sources 1.3.4 Third-Party Perspective 1.3.5 Primary Research 1.4 Information Analysis 1.4.1 Data Analysis Models 1.5 Market Formulation and D | read more...