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Report Anticipates India's Personal Care Ingredient Growth
Posted: October 19, 2010
Kline & Company has published a market analysis that expects a 9.6% growth rate in the Indian personal care ingredient market from 2010 to 2014. Personal Care Ingredients 2010: India Market Analysis and Opportunities reports that emollients are expected to lead overall growth while specialty surfactants and conditioning polymers are anticipated to lead the growth of specialty ingredients in the country.
According to the report, the price sensitivity of Indian consumers has stunted personal care ingredient growth in the past; however, increasing disposable income levels and growing awareness for new formulations are expected to drive increased consumption of personal care products in the future. In 2009, Kline estimated the specialty personal care ingredients market in India to be at 33,000+ tonnes.
As noted, the highest volume growth is expected for emollients, specifically with a projected 11.3% increase by 2014. The addition of UV protection to skin products has also experienced a boost, establishing UV absorbers among the most rapidly expanding product categories.
India's personal care industry is characterized by high volumes and low prices of cosmetic products, according to the report. Many traditional commodity chemicals, including sodium lauryl sulfate and sodium lauryl ether sulfate, are used in formulations. There has been less of a demand for specialty chemicals, and the majority of existing demand remains satisfied through imports. However, an increasing number of personal care products now incorporate specialty ingredients in their formulations, according to Kline, and among the specialty ingredients, specialty surfactants and conditioning polymers account for a combined volume market share of over 40%.
The report found that most personal care ingredient segments in India are dominated by six main players, accounting for about 44% of the market. In the case of surfactants, the top three competitors hold nearly three-quarters of the total market volume. In contrast, segments that focus on applications in skin and hair care are fragmented due to the required expertise and different compositions pertaining to the chemicals.