China personal care ingredients market will see the considerable growth of 4.8% during the forecast period. The country’s personal care market is experiencing new ingredients trends, including the R&D of some plant extracts, herbs, and ingredients from oceans for the last few decades. Earlier China’s regulatory framework was earlier difficult for the development of natural and organic cosmetics to some extent. However, the new regulations concerning Cosmetics Supervision and Administration Regulation (CSAR) were released by China’s State Council in June 2020 and is expected to come in force from January 2021 to ease the process of development of cosmetics across the country. The new CSAR will replace the existing Cosmetics Hygiene Supervision Regulations of the country which was released back in 1989. The new regulation is expected to bring many changes that will significantly affect the personal care ingredient market expansion across the country.
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For instance, as per the new regulation, cosmetic ingredients are divided into two categories that is new ingredients and existing ingredients. Out of which, the new cosmetic ingredients with higher risk are subject to registration with the National Medical Products Administration (NMPA). NMPA has made it necessary to provide annual reports on the safety and usage of the new ingredient within three years after the registration or filing of the new cosmetic ingredient. For ingredients with safety issues, the NMPA will have the right to cancel the registration or filing certificate. These major reforms in the country’s laws of cosmetic handling will provide the manufacturers with a new opportunity in organic, natural, sustainable, clean-label product development.
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Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
o Recovery Timeline
o Deviation from pre-COVID-19
o Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
China Personal Care Ingredients Market – Segmentation
- Rheology Control Agents
- Active Ingredients
- Others (UV Filters and Pearlizers and Opacifiers)
- Hair Care
- Oral Care
- Skin Care
- Others (Fragrances and Toiletries)
· Ashland Global Holdings, Inc.
· BASF SE
· Corbion N.V.
· Croda International Plc
· Eastman Chemical Co.
· Evonik Industries AG
· Huntsman International LLC
· Koninklijke DSM N.V.
· Lonza Group Ltd.
· Merck KGaA
· Solvay S.A.
· The Dow Chemical Co.
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