As the world continues to grapple with the COVID-19 pandemic, the global economic outlook is also uncertain. One thing that is certain is that even under lockdown, people will continue to use essential personal care products. For that reason, these types of products will be less affected.  

There will also be sharp levels of growth in some essential product categories, such as hand sanitizers and liquid soaps, as they are now needed more than ever. However, there are many products that are not as buoyant. Ingredient groups, such as ultraviolet absorbers, pigments, and hair fixative polymers, which are used in sun care products, makeup products, and hair styling products, respectively, could be the hardest hit. 

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As COVID-19 continues to have a negative impact on the personal care industry, conditioning polymers are expected to be among the least-resilient ingredients in the category. 

Losses within the personal care industry are expected to vary from one product category to another. For example, demand for soaps, hand and body lotions, and hand sanitizers is expected to grow during the pandemic as the importance of hygiene increases. Similarly, demand for oral care products is not expected to be impacted, as people will continue to use them regularly. On the other hand, demand for hair styling products is expected to decline. 

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As COVID-19 continues to spread across the world, it continues to impact global markets, including personal care. While many personal care products are essential, others are not, including products for which consumers will make alternate choices. Consequently, the pandemic is expected to adversely impact the demand for personal care ingredients. However, the impact is expected to vary from one product category to another.

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Biotechnology is one of the fastest-growing categories of cosmetics products in the world.  

In the personal care actives industry, the term “biotechnology products” indicates all products manufactured through bioprocesses, which primarily includes products produced with extracts from micro-organisms. Cosmetics companies are gradually adopting these technologies, as they offer better results on topical application and meet consumer demand for high-efficacy and natural products.  Moreover, growing consumer awareness about sustainable sourcing favors the growth of biotechnology actives, which are derived from natural sources. 

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As COVID-19 continues to have a negative impact across the world, the International Monetary Fund (IMF) has predicted the global economy to shrink by nearly 5% in June 2020—1.9% lower than the decline of 3.0% predicted in April 2020. One of the many industries damaged by the pandemic: personal care. While many personal care products are essential, others are not, along with products for which consumers will make alternate choices. In addition, demand for personal care ingredients will also be impacted, as ingredient demand will closely follow product consumption trends. 

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