Global Medicated Personal Care Products Market Trends - Overview
Various medical companies are working hard to mollify the rising demand for ingredients and medicines that go into personal care products for the skin, hair, oral care, and various other applications. As a large, rapidly growing and increasingly diversified market, product components denote special challenges for medical manufacturing companies. Growing consumer incomes and changing lifestyles influence the global Medicated personal care products industry. Furthermore, the market is driven by an increasing middle class in the East, and growing elderly population in the West, and new opportunities such as halal beauty, men’s grooming, and bio-based skin care.
The market is forecasted to demonstrate a double growth by 2017. The Global Medicated personal care products market is expected to grow at a CAGR of 20.30% during assessment period of 2017-2027.
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Moreover, adding to the growth of the market, better standard of living along with growing disposable income of the working middle-class population in developing countries of Asia-Pacific including China, India, and Malaysia is expected to influence the growth of this market. Rising on-going R&D with technological breakthroughs in the area of processing and cost-effective products were major factors responsible for expanding industry growth over the past decade and the upcoming trend will continue further in the coming years.
Global Medicated personal care products Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global market of Medicated personal care products appears to be highly competitive and fragmented. With well-established market in the Americas region major companies have their home in the region and generate maximum market share. These companies have expanded their operating unit in various other emerging regions as well. Moreover the other small and medium scale players are generating revenue from local market.
Global Medicated personal care products Market - Regional Analysis
Global Medicated personal care products market is segmented on the basis of geographies or regions which mainly includes Americas, Europe, Asia Pacific, and Middle East & Africa. Americas is dominating the global market for Medicated personal care products with more than 40% share of the total market in 2016. The major factors influencing the growth of the market include due to increasing use of medical personal care products, increasing spending over cosmetic products, growing aging population, and various others.
Asia-Pacific is expected to be the fastest growing market in coming future. The nations in the Asia represent to a portion of the biggest and high potential markets for export growth for the U.S. Individual Care and Cosmetics businesses. Containing more than 20% of U.S. worldwide exports in the sector, the Asian nations offer the business more than 3 billion potential consumers in the fastest growing global markets. This base incorporates customers in developed markets for U.S. products, for example, Japan, Australia and South Korea, which together represented more than $1 billion in U.S. individual care and cosmetics export trades in 2015 to China, which at an estimated USD 500 to USD 600 million in U.S. exports that same year, is anticipated to become the largest global market for cosmetics in the next two to three years agents.
What's more, the nations incorporated into the Asia Personal Care and Cosmetics Guide give access to some of the most highest potential future markets—including the developing white collar class in nations crossing from Indonesia to Vietnam to Malaysia. These purchasers seek to the quality and refinement for which U.S. products are known. As of now these business sectors source the vast majority of their fundamental individual care products from mass market U.S. organizations including Procter and Bet, Johnson and Johnson and Colgate-Palmolive. Progressively these consumers are moving past the basics to premium skin and hair care and also color cosmetics opening opening the way to a wide variety of U.S. based beauty care products exporters.
The Middle East & Africa holds the least share of the global market due to limited availability of biotechnology facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.
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