North America personal care specialty ingredient industry is highly competitive owing to the presence of most of the leading global industry players. However, there is a great difference in the industry competitiveness in the U.S., Canada and Mexico.
In the past few years, there have been significant changes in the U.S. demographics. This has led to a significant rise in demand for the multi-ethnic and multicultural products, especially in the hair care and fragrances segment. As the Hispanic community significantly outspends any other groups for several beauty and personal care products, this trend is expanding across various ethnic groups in the region.
In Mexico, the personal care products demand has been increasing slowly in the past few years owing to the rise in purchasing power and to an increased access to different types of credit that have allowed Mexicans access to better quality products. Many of the big multinational brands have ventured into the market recently. The growing number of male consumers in the country, coupled with the expansion of sales channels and increasing demand for organic and natural ingredient products are expected to be the major driving force in the Mexican market.
In the past few years there has been a shift in the consumer demand for environment-friendly and natural products in the last few years. In order to cater to the evolving consumer cosmetics demand and to meet the regulatory frameworks, personal care manufacturers have come up with new and upgraded technologies.
This has played a major role for the enzyme-catalyzed process, which has the advantage of producing minimum wastage during processing of ingredients. Another would be the micro-encapsulation process for delivery of the end-use product. It enhances the ingredient shelf life and the impact of the ingredients on finished products.
The industry players have been focusing in research and development for innovative multifunctional and mild products. For instance, Evonik recently launched new concepts for cosmetic ingredients including “Trendy textures” and “Elements of care”. Stress factors like air pollution, UV radiation, dry air and dust due to poor urban and indoor air quality are major factors causing skin damage and hair issues.
Croda, a company involved in the business of manufacturing specialty chemicals, has recently launched “Prolevis”, which is a high molecular protein hydrolysate with film forming properties that envelop the skin. It makes the visible surface wrinkles and imperfections smooth on application. The company has been able to develop a new formulation containing novel Croda ingredients, which include elements from Sederma’s and natural botanical constituents from Crodarom range of skin care activities.
Ashland, Inc. has recently developed a new ingredient Elixiance biofunctional, which is especially used for anti-pollution effects. Its formulations comprise “Divinessence Beauty Butter”. Butter cream nourishes the skin and makes it smooth. The cream melts into the skin to deliver a power finish.
In-depth report on north america personal care specialty ingredients market by Grand View Research:
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