The Asia-Pacific personal care ingredients market will see the considerable growth of 4.6% during the forecast period. China and Japan together account for the largest market shares in the Asia-Pacific personal care ingredients market. China is home to chemical companies including Sinopec, BASE SF, which are also active in the personal care ingredients industry. Additionally, China’s high export to the leading countries such as the US and UK among others will also aid in the growth of the market. In addition to this, the consumers across the Asia-Pacific region especially in low-income economies such as Bangladesh, Vietnam as well as middle income economies such as India, tend to be less brand-loyal and more price sensitive. This will also influence the growth of the market during the forecast period.
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Furthermore, the dominance of multinational cosmetic and personal care companies such as Procter and Gamble, L’Oréal, and Shiseido across the region as well as the presence of a wide range of foreign-owned or joint ventures are also expected to influence the growth of the market. In addition to this, the continuous innovations and improvisations in products by the companies have also led to a higher demand for cosmetic products. For instance, in July 2020, Merck has entered into strategic cooperation with China-based cosmetics company Pechoin Group to develop herbal technology. Under the alliance, both the companies are working to launch a new product line called Pechoin Zhenyan anti-wrinkle repair series. The core anti-aging herbal ingredient used in the product ProVTA, was developed jointly by Merck and Pechoin together.
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Key questions addressed by the report
· What is the market growth rate during the forecast period?
· Which segment/region dominates the market in base year?
· Which segment/region will project fastest growth in the market during the forecast period?
· How COVID-19 will impact the market growth in 2020 and coming years?
· Recovery Timeline
· Deviation from pre-COVID-19
· Most affected region/segment
· Recommendations
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
Asia-Pacific Personal Care Ingredients Market – Segmentation
By Ingredients
· Rheology Control Agents
· Surfactants
· Emollients
· Active Ingredients
· Emulsifiers
· Others (UV Filters and Pearlizers and Opacifiers)
By Application
· Hair Care
· Oral Care
· Skin Care
· Cosmetics
· Others (Fragrances and Toiletries)
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
