WiseGuyReports.Com Publish a New Market Research Report On –“ Cosmetics & Personal Care Ingredients in MENA/G.C.C./China Market 2019 Share,Trend,Segmentation and Forecast to 2023”.
Personal care and Cosmetics ingredients refer to the raw materials utilized for developing etic products. The ingredients can be derived naturally or synthesized chemically which are later mixed and formulated to strengthen the properties of several cosmetic products. Chemicals are an essential part of the cosmetic and personal care enterprise, a wide range of chemicals are utilized across these industries globally.
The research report published in MRFR depicts that the MENA/G.C.C./China personal-care & cosmetic ingredient market is projected to reach US$2,209.5 by the year 2023, and is expected to prosper at an intermediate pace registering a CAGR of about 5.5% during the forecast period. Market motivation factors attributed to the regional demand for personal care and cosmetic ingredient chemicals in MENA, and China are bolstering the development of personal care and cosmetic enterprises in the regions. According to the report, China accounts for almost 10% of revenue produced by the global personal care industry and is predicted to display growth rate of about 8% over the forecast span, owing to conditions such as immediate urbanization, surge in disposable income and improved lifestyle of people among others.
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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.
Also, significant spending on personal care & cosmetics products in the Middle East to enhance personal care ingredients market. According to the report published by MRFR, per capita spending on personal care and cosmetics products in the Middle East regions such as Saudi Arabia, UAE, and G.C.C. accounted for almost US$171, US$335, and US$240 respectively in the year 2015, and it is anticipated to boost substantially over the forecast period.
The report further suggests that the female community in the Middle East accounts for almost 49-50% of the total Middle East population. Owing to the factors like a high level of purchasing capacity, the women community in the Middle East region tend to spend a substantial amount of money on cosmetic and personal care products.
However, various regulatory units active in China, MENA, and G.C.C. have imposed a strict framework of regulations and obedience in order to confirm consumer safety. For instance, in the year 2013 Saudi Arabia Food & Drug Administration prohibited the use of eight shampoo companies in the market, owing to the existence of carcinogenic Dioxane, thus, impeding the growth of the market.
According to the report published in MRFR, MENA/G.C.C./China Cosmetic & personal care ingredients market can be analyzed on the basis of important type, end-users and Region.
Based on the types, MENA/G.C.C./China personal care and cosmetic ingredients market can be segmented into-
• Titanium dioxide
• Sodium lauryl sulphate
• Sodium laureth sulphate
• Benz one's
• Glycerols, others.
Based on end use, cosmetic & personal care ingredients can be categorized into
• Hair care
• Bath & shower
• Colour cosmetics
Based on region, the personal care and cosmetic market is split into China, the Middle East & North Africa, and Gulf Countries including Kuwait, Saudi Arabia, Oman, Qatar, Bahrain, and the UAE.
China has the largest market share due to the effortless availability of raw material, lower labor tax and improving per capita spending on personal care and cosmetics products in the country. China conquered the market accounting for almost 66% market share, followed by MENA and G.C.C. China is the rapidly evolving region in cosmetic & personal care ingredients market registering a CAGR of about 5.89% during the forecast period.
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