The demographic and climate dynamics are impacting the market, as are regional consumer variations, and global regulatory challenges.
Environmental challenges like sun exposure and pollution have more consumers reaching for skin care and expecting the sort of results that actives promise. “Significant growth due to ….harmful effects of ultraviolet (UV) radiation,” notes the researcher.
And, the growing aging population as well as a higher frequency of skin diseases are also influencing the market, according to Persistence.
Higher spending on personal care products spurred by an increase in disposable income is also credited with motivating the market growth.
Aging is a factor for market growth particularly in North America. And the prevalence of sophisticated personal care products in the region is spurring things along too. Beyond that an “increased awareness about potential applications of personal care products in the treatment of skin and hair diseases is also contributing to the growth of this market in North America,” notes the firm.
Europe will have the best growth in terms of revenue. That region is seeing the effects of an aging population as well. “In addition, growing awareness about therapeutic applications of delivery systems is also contributing to the growth of the personal care delivery systems market.”
A wider awareness of skin diseases is boosting the market in Asia, as is rising disposable income. In fact, “Asia represents the fastest-growing region in the personal care delivery systems market.”
The skin care and hair care segments are of particular importance to the delivery systems market. And the Persistence report calls attention to the following sorts of systems: liposome and other phospholipids-based delivery systems; microcapsules-based delivery systems; millicapsules-based delivery systems; emulsion-based delivery systems; activated delivery systems; and substrate-based delivery systems.
As laws keep the cosmetics and personal care industries, in large part, separate from the medical community, there are limitations on the use and market potential of delivery systems. “Stringent regulatory requirements for the approval of cosmetic ingredients are key restraints for delivery systems in the personal care market,” asserts Persistence in its statement to the press.
Stay up-to-date on all things skin care with the Cosmetics Design event Skin Care Ingredients 2015. Registration is FREE. And, the program will cover ingredient trends, regulatory issues, formulating for efficacy and much more.