The global market for delivery systems in personal care has reported an exponential growth in the recent past. The Asian personal care delivery systems market, in particular, is exhibiting significant increase in market share owing to the high demand for delivery systems in the region.
An analytical report on the global personal care delivery systems market, published by Persistence Market Research (PMR) states that the global market stood at US$3.45 billion in 2014. The anticipated CAGR for this market over the period of 2014-2020 is reported at 7.8% and analysts expect the industry to reach US$5.44 billion by the end of 2020.
At a global level, the personal care delivery systems market is spread across Europe, Asia, North America, and the Rest of the World. Among these regions, Europe and Asia lead the global market. Here is a snapshot of the latest movements in the leading regional markets for personal care delivery systems:
Europe is the dominant market for delivery systems in personal care among all the regional markets. Analysts at PMR valued the European market in 2014 at US$1.46 billion and predicted the development of this regional market during the period from 2014 to 2020 at a CAGR of 7.9%. The regional market is anticipated to reach a value of US$2.30 billion by the end of 2020.
The rapid increase in the geriatric population and the rising awareness regarding the therapeutic usage of delivery systems are fueling the European market for delivery systems in personal care. Additionally, the increased demand for enhanced product quality is driving the demand for highly developed delivery systems that carry active ingredients to defined areas of an organ.
The U.K., Germany, and France are the major markets for personal care delivery systems and Arch Chemicals, BASF, and Lipotec are the key market players in Europe.
Asia is considered as the second-largest market for personal care delivery systems. Analysts have estimated this regional market to report the fastest CAGR over the period from 2014 to 2020.
The rising prevalence of various skin diseases is the key reason for the growth of this market. Additionally, the increase in the disposable income of people staying in the region is expected to aid the personal care delivery systems market in Asia.
China, India, and Japan are the major markets for delivery systems in personal care in Asia.
The personal care delivery systems markets in North America and the Rest of the world are also reporting a significant rise on account of the worldwide increase in the geriatric population and the availability of innovative as well as advanced personal care products across the globe. The U.S. and Canada are the key markets for personal care delivery systems in North America, while Brazil and Australia lead the markets for personal care delivery systems in the Rest of the World.